A lot of
rental property owners
wonder if they can
manage their own homes, and it’s certainly possible. If you have the time and the resources needed to effectively lease, manage, and maintain your rental property, there’s no reason you shouldn’t. However, you need to be aware of the commitment that’s required and the level of knowledge that’s needed. Many
landlords
begin managing their own properties and then realize they aren’t equipped to deal with things like late rental payments, emergency maintenance, and security deposit disputes.
If you’re wondering whether you should
hire professionals
or manage on your own, there are a few key things you need to consider.
Professional El Paso Property Management
Saves MoneyYou might think you’re saving money when you
manage your own rental property, but there are hidden costs that many landlords don’t think about. For example, the longer your property is vacant, the more money you’re going to lose.
Professional El Paso property managers
can often rent out a home faster and for more money than landlords who are doing it themselves.
A professional can often save you money on maintenance as well.
Property managers
have excellent relationships in place with vendors and contractors, allowing their clients to access the best rates and most cost-effective repairs.
You also have to think about what your time is worth. Spending all of your weekends and evenings showing a vacant property, putting together lease agreements, and coordinating painters, cleaners, landscapers, and other professionals before a tenant moves in can cost you hours, days, and even weeks.
The amount you pay in a management fee more than covers the services and value you receive.
Renting a property
for more money and to better, long-term tenants will save you in the long term and ensure your cash flow is consistent.
Resources and Systems Make Management More EfficientAnother good reason to work with a
professional El Paso property management company
is that you will have a hassle-free experience. You won’t have to do anything; your property managers will have all the systems and processes in place to ensure rent is collected on time, the lease is enforced, and your home is inspected. The value of your asset will be protected and you won’t have to worry about preventative maintenance, screening vendors, or accessing a lease agreement that’s legally compliant in Texas.
Individual landlords do not have the resources and tools available to them that professional managers have. We do this full-time, every day. This means we have a lot more experience, and we can do things like tenant screenings, move-out inspections, and emergency maintenance without any delays or mistakes. Nearly everything is automated and we also personalize the management of your home depending on what you need and what your tenants are expecting from us. We handle
property management accounting, we accept rent payments online, and we document everything.
Self-managing landlords
don’t have the technology, software, or experience that allows for faster and more effective management.
Legal Mistakes are Expensive for Self-Managers
