Self Management vs. Hiring a Property Manager in Bryan-College Station

When you own an investment property, there are a lot of factors that come into play when you’re looking to maximizing your overall cash flow. After all, that is the reason you acquired the property in the first place. Other than choosing the right investment to purchase, the single most important decision you need to make is “Who will manage the property? Yourself or a Property Manager?”

It you go down the self-management road, you may be thinking that you will save money. Think again! Here are a few things to consider before you self-manage an investment property.

TIME

Your time is probably your most valuable asset, aside from the investment itself. The amount of time you spend managing can fluxuate, but when the property and tenants require your attention, it can be all-consuming, taking you away from your day job, your family and your social life.

A good property manager will take this stress away, allowing you to focus on your life, family and friends while keeping you in the loop on how your property is doing.

MAINTENANCE

Maintenance can be a bear. The biggest complaint from tenants is lack of communication and follow-through on maintenance. It is the single biggest reason they move out. Also, not having a good list of reliable vendors almost certainly ensures that your cash flow will be flushed down the toilet — literally!

The best property managers have an extensive and exclusive list of the best vendors in the area. Not only that, they can get discounted pricing from the vendors in most cases, which saves you money!

They can also take on the stress of emergency maintenance so you can sleep easy, knowing that your investment is being well-maintained.

PAPERWORK

Having proper documentation is extremely important to protect both you and the tenants. Not just the lease but applications, guarantors, rules and regulations, pet addendums…the list goes on and on. If you don’t have this on hand, you will pay the price in legal fees and lawsuits.

A quality property manager has all the necessary paperwork to keep your liability at a minimum. A conscientious manager will make certain that you’re covered legally with the proper documentation and ensure that your property is kept up to code to avoid those nasty lawsuits. Let the manager be a wall between you and the legal liabilities of owning a investment.

Although hiring a property manager comes at a cost, the overall savings you will realize by having a quality manager is far more beneficial than self-managing. But do your research — not all managers are the same. Make sure that they truly care about your investment and your success, and have the resources to protect it the way they should!

 

OFFICE INFORMATION

Asset Hero Property Management

1580 Copperfield Pkwy

College Station, TX 77845

(979) 353-2567

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