Many people aren’t born to be landlords, and many property owners find hiring a third-party company to be very beneficial to their portfolio. The decision to hire a property manager for your properties can be a tough one. If you have tight margins to begin with, bringing a property manager into the mix could make your properties operate at a loss. However, most people aren’t born to be landlords, and many property owners find hiring a property management company to be very beneficial to their portfolio. Many landlords feel that their time is worth more to them than saving money by managing themselves. Landlords are willing to pay to no longer worry about the micro details and instead focus on other things such as business or family. Property managers have more to offer than just dealing with tenant and maintenance issues. There are many laws and regulations landlords must follow that they may not even know about. Staying on top of these laws is an important, yet overwhelming, task for many, and a property manager can often insulate landlords against any liability.
Nothing found herein should be construed as an attempt to offer or render a legal opinion or otherwise engage in the practice of law. You should not rely solely on this information. We encourage our clients to work with a lawyer experienced in commercial and/or residential real estate matters as they can be complicated and confusing.