Working with a property management company is an investment that can offer a big return. If you’re on the fence about whether or not you should hire one, it’s worth your consideration if you’re struggling with any of these three important concerns.
You Live Far Away From Your Property
Keeping tenants happy involves having a quick response time and open availability. If your rental property is in the next city or even another country, these can be monumental tasks. There’s only so much that a virtual meeting can tell you. At the end of the day, you want to make sure your property is in good standing. A property management company can be your eyes and ears, as well as act on your behalf.
You Don’t Have Time to Manage Yourself
Many landlords are invested, both physically and financially, in a handful of ventures. Maybe you’re very involved with your family, or perhaps your job is demanding. Either way, running an investment property can stretch a person more thinly than they had originally anticipated. There are only 24 hours in a day, and if you’re working, running a family, a rental unit, plus other extracurriculars, that allotment may not be near enough to experience life the way you want to. Property management companies allow you to be fully present for what’s truly important to you.
You Have No Legal or Management Background
There’s more to property management than just a passive income. There are permits and by-laws, tenants and vendors. All of these require a working knowledge of property law and the ability to manage people. If either of those things are your Achilles heel, consider how the expertise of a property management firm can take those undesirables off your plate. Some companies will even offer customized packages so you can pick and choose which tasks you’d like to continue performing, and which ones you want to delegate to the professionals.
If any of these situations sound familiar, it may be time to start looking at property management companies in your property’s area. For management in Calgary, our team at GIL Property Management & Sales can offer you the support you need. Contact us today to get started!