Outsourcing Your Park City Property Management
The term "outsourcing", in Park City property management or otherwise, probably doesn't conjure up a favorable impression with most people. I myself have been the victim of a bad case of outsourcing when I required some technical assistance on a Microsoft product. A woman named "Susan", who had an accent unlike any Susan I have ever met, spent nearly two hours with me on the phone and my problem never did get solved. So today I would like to dispel the negative impressions of outsourcing and explain how it is a good decision for Park City property management.
Property Management Is Work
A former coworker of mine described Park City property management in a lovingly, tongue-in-cheek manner by saying "Property management, its work." If you have visions of lounging on a beach, cigar in your mouth as you count your ever-increasing stacks of money you should look for another business opportunity. Property management requires time, effort, a particular set of skills and knowledge, and the proper structure in order to find success. Let's take a look at each of those requirements a little further.
- Time - You probably have your own job. You go there every day for 8 hours and when you get off work you're either ready to go have some fun or relax at home with your family. The last thing you want to deal with is a problem at your rental property. And what if the problem is so big it requires you to take time off of work? Now you are either burning your vacation time on something that is definitely not a vacation, or losing money at work and losing time on your investment. Remember if you don't hire a Park City property management company then you are the 24/7 manager of a property and everything that goes into it.
- Effort - In many ways effort is a key component of quality. Skill is also important and I will address that later. If you want a quality rental property that attracts quality tenants then you must run a quality operation and this takes real effort. As my former coworker aptly described Park City property management, it is work. A property manager is ready to provide the effort and quality it takes to manage your property. We do work, plain and simple.
- Skill - Can you install a garbage disposal? Do you know how to lay a good, clean bead of caulk without making a huge mess? How good are your painting skills and what do you know about electrical work? Have you ever repaired or installed a household appliance? What about patching, sanding and texturing dry wall? These are just some of the skills necessary to succeed in Park City property management. If you think you aren't up to it you should consider hiring someone who is.
- Knowledge - What are your thoughts on SB 167 and it's implication for condominium owners? Is a broken microwave a violation of the standard of habitability or are you even familiar with the Fit Premises Act? When is it appropriate to post a 3 Day Pay or Vacate notice? How about the market rate for your property? You can either devote hours of your time and energy towards learning all the intricacies of Park City property management or you can hire someone who already knows and get on with your life.
- Structure - Do you know reputable plumber? What kind of bookkeeping software do you use? Is there an emergency number your tenants can call after hours? How much are you paying your receptionist to answer the phone during the day? All of these reasons and more are why outsourcing your Park City property management just makes sense.
If you would like more information on the benefits of a professional Park City property management company please click on the link below for a free consultation. You will receive valuable information about your property and a free, no-obligation quote on our management services.
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