Is it Time to Hire a Property Manager for Your Rental Property?

Going from managing your own properties to hiring someone to do it is a decision that deserves a lot of thought. While outsourcing a property management service will make your life simpler and probably give you back a chunk of your time, you also need to ensure that the cost will be worth it.

There are lots of questions to answer before you decide if a property management company is the right answer, but what are the benchmarks? Some key guides to help you make your decision should include:

•Time: How much time do you have to manage your property? Is it a weekends-only job?
•Knowledge: Are you well informed about Fair Housing Laws and city codes?
•Distance: Do you live close to your rental properties?

Of course, there are many more items on your pro/con list that are specific to your situation. However, to help guide you to your answer a little more smoothly, Appfolio created this handy flowchart. Take a look below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Written by Jennifer Chan for ZillowBlog.com

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