Owning rental property can be a profitable investment, but it also comes with a lot of responsibilities. As a landlord, you are responsible for maintaining your property, finding tenants, collecting rent, handling tenant complaints, and ensuring that your property complies with local and state laws.
While some landlords choose to manage their own properties, others prefer to hire a qualified property management company to handle these tasks. So, should you hire a property manager?
In this blog post, we'll go through a few things to consider if you're thinking about the best approach to self-managing vs. hiring a property management company, specifically in the San Antonio area.
Do You Live Near Your Properties?
One of the first factors to consider when deciding how to manage your rental homes is your proximity to your rental property.
If you live close to your property, you may be able to manage it on your own. However, if you live far away, it may be difficult to keep an eye on things and handle any issues that arise. Getting across San Antonio to respond to tenants and check on your rentals can be challenging to do as often as you need to respond.
When proximity keeps you from delivering the service your properties and tenant needs, hiring a property management company to take care of your property for you might be the best option. Property management companies in San Antonio can provide a variety of services, including tenant screening, rent collection, maintenance and repairs, and eviction services.
Multiple Properties Can Be Difficult to Manage Without Help
Another factor to consider is the number of properties you own. The more properties you have, the more challenging it is to be everywhere you need to be to keep them maintained, conduct inspections, and respond to tenants.
A growing portfolio may mean that you need a property management company. Managing multiple properties can be time-consuming and overwhelming, especially if you also have a full-time job.
Do You Already Have a Full-Time Job?
Speaking of full-time jobs, if being a landlord isn't your primary occupation, you may not have the time or energy to manage your property effectively.
Hiring a property manager can free up your time and allow you to focus on other aspects of your life or career. Property managers handle every task to keep your rental properties profitable!
Can You Afford It?
Another essential factor to consider is whether you can afford a property management company.
However, while there is a cost associated with professional property management, it may be cheaper than you think. Property management companies can help you save money in the long run by finding and retaining high-quality tenants, ensuring that your property is well-maintained and compliant with local and state laws, and handling any legal issues that may arise.
They also help you set the ideal rental rate to generate the most revenue from each property.
Think About the Quality You Want to Deliver
Managing your own rental properties can seem like a money-saving way to provide rental homes to San Antonio residents. However, the quality of what you deliver might not compare to the best property management services in the area.
Renters look for well-maintained, highly-responsive landlords and property managers to help them feel comfortable and happy in their rental homes. However, if you own multiple rental properties, it can be tough to compete with the services property managers deliver with more staff, processes, and software in place to respond to tenants and care for properties. As a result, tenants might choose other rentals managed by professional managers if your services aren't up to par.
Additionally, when hiring a property management company, choosing a company that provides high-quality services is important. Look for a company with a good reputation in the San Antonio area, and ask for references from current or former clients.
You may also want to ask about the company's experience in managing properties like yours and what kind of technology and systems they use to manage their properties.
The Best Property Management San Antonio Offers Handles Everything
Working with the best property management San Antonio offers can be an excellent option for landlords who want to save time and ensure that their properties are well-managed. However, it is important to choose a property management company that provides high-quality services and has a good reputation in the San Antonio area.
If you're considering a property manager or are unsure, MHN Property Management is here to help! We are a full-service property management company that can help you manage your rental property, no matter where you live or how many properties you own in the area. Contact us today to learn more about our services and how we can help you maximize your rental income.
What do you need in a property manager? Download our free guide and find out!