The cost of property management is a valid argument, especially when you consider detracting from your bottom line, but I can assure you it’s doing anything but. Yes, a property management company will indeed cost additional money to hire, but I like to think of it as an investment, as opposed to a cost. You see, a good property manager can very easily return more than their own initial cost. After all, the average property management company will typically award investors with the following:
- Property managers will collect rent from tenants
- Property managers will listen to maintenance requests and address the problem
- Property managers can deal with defaulting tenants that are months behind in rent
- Property managers will market a subject property to limit vacancies
- Property managers will keep detailed records of everything happening at the property Credit to Than Merrill.