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When Should You Hire a Property Management Company?

Some people can manage one or two rental properties on their own and do fairly well, but being a landlord is an incredibly time-consuming process. A lot goes into it, from collecting rent and arranging repairs to learning everything about the landlord-tenant legal system.

Whether you want to rent out your home or you own multiple investment properties, hiring a property management company like Coakley Realty can be a huge asset that saves you a lot of time. But when is it time to let the professionals take over and manage your properties for you? It’s probably a good idea to let a professional property management company help if:

You own multiple properties – The more properties you own, the more time it is going to take to manage them. A property management company can take the reins and make sure that everything runs smoothly, from finding tenants and arranging leases to checking on the properties and ensuring their upkeep.

Your time is limited – If you have a lot of demands and a limited amount of time, you don’t want your rental properties to suffer because of it. Hiring a property management company can free up a lot of your valuable time without having to worry about late rent payments or leaky faucets.

You don’t live near your property – The farther you are from your rental property, the more difficult it will be to maintain. The distance can make it harder to do things like quality checks to ensure the property is being well-kept and handling the many issues that can arise while a tenant is occupying your property. When you hire a property management company like Coakley Realty, we will ensure your property is being well-maintained and be on-hand to take care of any problems, large or small.

You’re having trouble finding reliable tenants – If you’re having a difficult time finding reliable tenants, a property management company can step in and help you not only find suitable tenants, but handle the background and credit checks as well.

Being a manager doesn’t interest you – Some people just aren’t interested in managing their property on their own, and that’s okay. That’s what a property management company like us is for! We’ll keep track of all your files and records and take care of everything for your property.

You want to make more money – A good property manager will not only successfully find tenants for your property and make sure it’s being well-maintained, but they’ll make you money as well!

You don’t want to employ people – Particularly when you have more than one rental property, you may start to require more people to help you handle the details. However, many people aren’t interested in all of the responsibility of being an employer, which makes hiring a property management company the perfect solution. You won’t have to worry about payroll or unruly employees—we’ll take care of everything!

If you’re wondering whether or not hiring a property management company in Washington, DC, Maryland, or Virginia is right for you, contact Coakley Realty today! We can help you decide what’s best for your property and how to manage it successfully.