Prior to experiencing all the advantages associated with hiring a property manager for yourself, you may be skeptical about using a third party to handle the responsibilities of being a landlord, especially since you feel you can do everything yourself with ease.
Pretty much any landlord could benefit from leaving the duties of managing their properties in the hands of one of the property managers at ASM Properties, explains managing partner Jon Selinger. Some property owners contact managers in their area before even searching for tenants, while others try to master the responsibilities themselves, only to later discover that using a company like ASM Properties would make their jobs so much easier.
One of the biggest misconceptions that deters owners from hiring a property manager is that they feel it will be taking away from their profits. In reality, however, when you look at the grand picture, your property manager will actually be saving you money. And the savings start from the very beginning:
- Property managers are familiar with the housing market in your area as well as the competitive rent prices. Essentially for you, this means that they will know what price you should list your home or apartment at so that you will be able to find renters quickly while still making a profit.
- Being a landlord requires you to wear several hats, says Selinger, including an accountant. The company you hire, however, will be able to take care of all of your accounting needs as well. You will never have to worry about making a financial error ever again, especially if handling finances isn’t your strong suit.
- Property managers also have strong relationships with numerous maintenance specialists in the neighborhood so that you won’t have to worry about overpaying for repairs or receiving poor craftsmanship ever again.
Another myth is that property managers are only for landlords who have to take care of multiple properties. Indeed, property manager will prevent you from having to run from home to home on your weekends can make your life. But you could reap a property manager’s benefits even if you only are renting one home. That’s because while it’s easy to convince yourself to be a little lax on tenants or to skip inspections, your property manager is devoted to making sure that everything concerning your property runs smoothly. In fact, three-fourths of ASM Properties’ business is from landlords who only are renting one property, says Selinger.
A majority of the company’s business actually comes from landlords who live out of state, which is also appealing. So, it could be unsettling to constantly worry about a home that you live hours away from, adds Selinger. But, with a property manager, it’s like you live just up the road, even if you actually live across the country.
