Four Signs Hiring a Rental Management Company Makes Sense
Apr 18, 2022 brooklyn,Brooklyn Landlords,brooklyn real estate,brooklyn realty,landlords,management company,managing renters,realty collective,renters
Being a landlord is hard work. When you’re not marketing open homes and looking for renters, you’re contacting current tenants about upcoming payments and fixing leaky sinks, running toilets, and updating items the inspector disproves. Thankfully, rental management companies exist to support you in all of these areas! Below are four points that say the service is worth the added cost.
#1: You Own and Rent Out Several Units
You’re one person with limited time. If you’re trying to rent out, clean up, and maintain multiple properties, you may run out of time — or feel burnt out from how much overtime you’re putting in. Help from a management company can save you tons of effort in this area.
#2: You Live Far Away
If you moved out of Brooklyn and rented out your old home instead of selling, you probably don’t want to drive back and forth for showings, clean-ups, and repairs. Hiring a company that’s local to your property can make sure you’re only needed over the phone.
#3: Your Rentals Require Lots of Work
If you own an older home —or one that simply hasn’t been treated well in the past— a rental management company might make sense. You don’t want to be at your property every week, and things might actually be breaking that often. In these circumstances, the amount of time you save will make the service well worth the added cost.
#4: You Can Handle the Monthly Profit Loss
There’s no hiding the fact that these services cost money. However, if you have adequate funds coming in every month, they may be well worth the price. The time they save you might just give you the ability to bring in additional income, too.
Need a referral?
We have plenty of those! In our almost twenty years of business, we’ve worked with plenty of management companies that can help you manage the landlord duties. Get in touch and we’ll help steer you in the right direction!