When it comes to managing your rental properties, have you brushed off the idea of hiring a property manager for various reasons? If so, chances are you could be believing some myths about property management. As property managers in Northern California who have over twenty years of experience managing properties all over Shasta County, we would like to expose 4 of the most common property management myths as well as answer any questions that you may potentially have about property management.
- I Can’t Afford a Property Manager – One of the biggest property management myths is that property managers are expensive. However, most people don’t think about the costs that come with NOT hiring a property manager. For example, how much time do you give to managing your property? Does it take time away from your family, from pursuing your hobbies and dreams, or from getting work done at your day job? So the real question is, can you really afford time away from all of those things in order to manage your rental property? If you are hesitating to answer that question because you know that managing your property feels like a part-time job most of the time, then hiring a property manager would actually be a great benefit and investment for you. And the truth is, it is more affordable than you think it is to hire a property manager.
- I Can’t Trust a Property Manager to Find the Best Tenants for My Property – While it is true that there are many stories of landlords having bad experiences with irresponsible tenants, that is not the case when you hire a property manager to find tenants for your rental properties. Property managers are intentional about finding the best tenants for your properties and will put all potential tenants through a rigorous screening process. This usually involves conducting credit checks to see if they have good payment history, running criminal background checks to ensure the overall safety of your property, checking previous eviction history by contacting previous landlords, and checking for employment verification to make sure your tenants have a consistent income and will make their rent payments consistently and on time.
- I Can Take Care of my Property Better Than a Property Manager Can – It is very valid that you would be concerned about this. You not only took a big risk in deciding to own and rent out your own property, but you also invested your time, your energy, your labor, and your money into making sure your property would yield great tenants and a great return on your investment. However, property managers take the condition of your property seriously and actually look to add value to your property because how they manage your property ultimately boosts or damages their image and reputation as a property management company. In the same way that you desire to manage your property well because you are ultimately running a business through it, property managers will desire to manage your property well because they are also ultimately running a business through it.
- Hiring a Property Manager Is Pointless because I Can Do It Myself – While it is true that you can probably do most things that a property manager would do yourself, hiring a property manager would not be pointless because it would actually save you a lot of time, energy, labor, and stress in the long run. So the real question is, while you are more than able to manage the stressful situations that come with maintaining the condition of your rental properties and the connections with your tenants, is that something that you actually want to do? Hiring a property manager will not only relieve you of the stress that comes with these situations but will also free up your time to focus on the things that you really want to focus on.
If you are trying to decide whether or not you want to hire a property manager and need some more questions answered before making that decision, feel free to give us a call at Authority Property Management! We are property managers in Redding who have over twenty years of experience doing property management in Redding and all over Shasta County and we would love to help assist you in any way we can! Give us a call at (530) 410-6085.