Landlord vs. Property Manager

Landlord vs. property manager is a perennial debate. Landlords are always faced with the choice of whether to hire a property manager or to take care of everything alone. The reality is that if there is only one property then perhaps hiring a property manager doesn’t make much sense but if there are several properties then one has to hire a property manager. Many landlords choose to hire staffs, legal professionals and maintain an entire team to cater to the various tasks. In such cases too, hiring a property manager would be wiser.

Advantages to Property Management

There are many advantages of hiring a property manager but there is one major disadvantage as well. A property manager would have a fee. The best property managers in the business ask for quite a steep fee. A landlord would have to shell out this money which can cause a dent in profitability and obviously in revenues. Many landlords do not find it justified to spend on a property manager only to reduce one’s own income. However, the advantages can often change one’s outlook towards property managers.

A property manager can actually ensure that the entire experience of one being a landlord is convenient, fruitful and free of all anxieties and hassles. A property manager would ensure that a property is ready to be rented out. A property manager would bring tons of tenants for a visit, would screen the tenants to find the suitable shortlist and would also facilitate the entire process of renting the property out. A property manager would have access to many prospective tenants and the market as a whole. This makes it easier for a landlord to get a tenant when one needs it. The interim delays between two tenants can be brought down to nil. In that sense, having a property manager can be actually more profitable.

A property manager would cater to the legal aspect of the rental agreement, would put together the documents and also keep collecting rents on time. Besides, a property manager inspects a property and keeps a check on its health, can also take care of the property and initiate repairs if one is authorized to do so.

In a nutshell, there are many advantages or benefits of having a property manager. A landlord can actually live an investor’s life without the associated anxiety. However, there is a fee to pay for such convenience.
Posted on Feb 06, 2014


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