Reasons To Hire A Park City Property Manager
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There are many property investors who take care of the management of their property on their own. I recently wrote a blog post dealing with my own frustrations of managing my rental property in a post titled "I Need Some Park City Property Management Help". If you are interested in reading about my experiences, and perhaps relating to them, you can click here. Today I would like to cover a few of the key points to consider when asking the question "Should I hire a property manager?" You can respond to these points honestly and decide for yourself if a Park City property management company is right for you.
How Close Is Your Property?
Are we talking a couple of blocks, on the other side of the city or in another state? As a rule of thumb if you can't get to the property quickly your ability to manage it yourself is seriously degraded. Every step in the management process from touring prospective tenants, handling maintenance problems, and collecting rent becomes more difficult as distance increases. If you are out of state or live a decent distance from your rental property you should seriously consider Park City property management.
How Much Time Do You Have?
Perhaps your idea of managing a property is taking a few phone calls throughout the year and cashing those rent checks. The reality can be far different. I often like to joke that most emergencies happen between 3-5pm on a Friday afternoon. Unless you are going out of town before the weekend, then the emergencies will adjust their schedule to your last day in the office. Property management can be chasing down late rent payments, fixing broken toilets and lighting pilot lights, responding to emergencies, doing something about noisy neighbors, and the occasional bounced check. If you don't have the time to deal with these types of problems it might be a good idea to bring in a pro.
Can You Deal Directly With Tenants?
If you are a proactive landlord who takes care of their property then a good portion of the interactions with your tenants will be positive. But even the best landlords have problems with tenants. In my time as a property manager I've had the nicest tenants who never pay rent on time. I've had to step into the middle of tense domestic disputes involving law enforcement and act as a mediator to solve the problem. I've had to tell tenants that the rent is going up and that new carpet isn't a possibility. If you are going to manage your own property you should realize that you will find yourself in tough situations where you will have to be the bad guy. Having a Park City property management company can put some distance between you and your tenants.
How Handy Are You?
A maintenance request is probably the most common type of call you will receive as a landlord. Having the knowledge and ability to repair all the many types of requests you receive does not automatically come with property ownership. You will need to either handle these types of requests or spend time coordinating with a reputable contractor who can.
If you would like more information about the benefits of hiring CC Realty to manage your property, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
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