If you've owned income property for any amount of time, you know the work that goes into maintaining it. While property management may seem out of reach for your budget and needs, it's worth considering to save both time and money. The additional peace of mind brought to you by a property manager can be invaluable, says Scott Safadi of Cal Bay Property Management.
Property managers help with all kinds of stressful tasks that you might be used to shouldering on your own. Work with a property management company and you'll find folks to deal directly with your tenants or prospective tenants. This frees you up to spend your downtime as you please. Imagine the luxury of spending your Saturdays with friends and loved ones instead of mowing the lawn at your rental property. The value is clear.
Consider working with a property management company if you have multiple properties that need attending to. The more properties you own, the more likely you are to be overwhelmed with the daily ins and outs of maintaining these places. Also consider partnering with a property manager if you live far from your rental property. Many folks rent out their home when they move away for a few years. Overseeing your property from a distance isn't easy.
When you're ready to hire a property manager, take your time to find a good match. Get recommendations from colleagues or from your local apartment association. Before handing over the keys to your kingdom, be sure you thoroughly interview several candidates and make a trustworthy decision.
- Scott Safadi, Cal Bay Property Management
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