Should You Manage Your Own Rental Property or Hire a Manager

Renting out a property by yourself doesn’t seem that hard, right? You just need to find tenants, get them to sign contracts, and you will be able to collect rent from them until they move out, and this doesn’t seem too hard. Of course, though, there are a lot of challenges that can crop up as you go through a process like this, and this is why property management companies have become so popular among property owners looking to rent their homes. But what exactly can a company like this do for you? Let’s take a look at some of the challenges that private landlords face to find out.

Finding tenants

Finding the tenants that will be living in your property is never an easy process. To start, you will need to post adverts around the web and be available for viewings, and this can take a lot of time. Alongside this, you will also have to make sure that you trust the prospective tenants you speak to, while also getting an idea of their plans for the future. Property management companies can handle all of this work on your behalf, giving you the final say when it comes to picking the tenants that will be living on your property.

Contracts & Deposits

Property management companies have to deal with tenancy agreements and contracts all the time, and this means that they are well-suited to handle them properly. This is something that you will have to figure out on your own if you decide to manage your own property, though, and this can create some big challenges that are incredibly hard to overcome. Alongside this, there are strict rules in most places surrounding rental deposits, and a property management company will always be compliant with these rules.

Disputes & Evictions

Tenants have a lot of rights that can give them the power to make your life very hard when they live in a building that you own. Dealing with disputes with people like this can be incredibly difficult, and evictions will often be even harder. Especially now days with the eviction moratorium and all the new Oregon rental laws. Your property management company can solve this issue for you, handling all of the awkward conversations that need to be had with the tenants that you work with.

Maintenance

Finding reliable plumbers, electricians, and other construction professionals that will charge fair prices for their work is always hard. Landlords are typically responsible for maintaining their properties, and this means that those managing their own properties will have to get problems fixed themselves. Property management companies can handle all of this work for you, taking away all of the stress that comes with keeping your property afloat.

Renting out a property can be a great way to make money, but it can also come with a lot of stress. Property management experts like A Superior Property Management Company can take on the jobs that you don’t like in this process, giving you the freedom to enjoy the benefits of the rent you receive. As time goes on, this sort of service can make your life much easier.

If you are looking for a Bend property management company that always goes above and beyond for you, give us a call today. We aren’t the biggest, just the best.