We often talk to landlords who are comfortable managing their own properties. They’re doing a great job of finding tenants and responding to maintenance and collecting rent. They’re earning money on their investment.
When everything is going well, it seems like you don’t need a professional Albuquerque property manager. When something goes wrong, however, and you find yourself needing to evict a tenant or fighting off a fair housing claim, it’s easy to wish you had a professional property manager partner.
Don’t wait for catastrophes to happen. There are a lot of excellent reasons to hire a property manager, and we’re sharing some of the signs that you need professional help.
Your Time is Valuable and You Don’t Have Enough of It
Are you struggling to respond to those maintenance requests when you receive them?
Has your property been vacant for months because you cannot seem to find the time to schedule showings?
These are signs it’s time to hire a professional property manager.
Most of the owners we work with simply don’t have the time to manage their rental properties. You have your own career to pursue and your own family to raise. Maybe there are a number of other things you’d rather do than supervise repairs or talk to tenants.
Busy investors can definitely benefit from professional Albuquerque property management. If you’re the type of owner who wants to invest in real estate because of the financial benefits it provides, but you don’t want to get into the day-to-day details of renting out a home, you will need a professional. When the rental income and the ROI are your most important reasons for investing in real estate, you want a professional who can handle the ins and outs of rental management and all the duties that come with it.
Save yourself some time. Hire a property manager.
You’ve Invested in More than One Property
A landlord rents out one or two homes.
An investor builds a portfolio.
If you’re renting out an entire portfolio of rental properties, you need to have those assets managed professionally. With several properties and a lot of tenants, you’re going to have several issues competing for your attention.
Hiring a professional property management company with a full staff will make your life a lot easier and your investments more successful. There’s a lot less stress and liability in your work as an investor.
Hire a Professional When You’re Far From Your Property
A lack of proximity is also an excellent reason to hire a professional. If you live out of state or even out of the country, it’s going to be extra difficult to monitor maintenance and anything else that comes along. You will have residents, neighbors, and vendors who may need your attention, and if you’re more than half an hour away, you’re going to have a hard time being responsive.
A local property manager in Albuquerque can be a valuable asset for non-local investors. You’ll want a professional who can get over to the property quickly and conduct regular inspections to make sure it’s in good condition. You’ll need someone who knows the market well and can help with establishing rental values and vendor relationships.
It’s always a good time to hire a property manager. If you’re starting to see some signs of your own, we’d love to talk with you. If you have any questions about how we can help you with rental management in Albuquerque, please contact us at Bruni Karr Agency.