We commonly receive the question, “Why should I hire a professional property manager to handle my residential rental property?” With today’s blog, we would like to answer this question. I want to start with a story that I think will illustrate my first point. This is a story about a conversation between two tenants that took place in the front lobby at gkhuoses.com. One tenant was significantly behind in rent. When the second tenant heard this, her advice was, “You’re going to have to go rent from a private individual because any professional landlord is going to call Evernest and will find out you are behind in rent.” That illustrates our first point perfectly: Private individuals are less experienced and less likely to screen tenants thoroughly than professional property managers. A professional manager will know what to look for. We know what type of tenant you don’t want and we know what type of tenant you do want. For instance, it takes about 13 showings to get one approved applicant. That’s a lot of showings! Another reason to hire a professional property manager is: Most property management companies have a 24/7, 365 days per week maintenance line. What happens during Christmas or Thanksgiving if things go wrong at your rental property? You don’t want to get that phone call in the middle of the night. Property managers have systems in place to handle those calls. One of the best reasons to use a property manager is: Using a property management company creates separation between you and the tenant. You make better decisions when you are removed from the tenant. A good property manager will provide a buffer to help you make high-quality, high-return decisions about your rental property and your investment. This is very important. Finally, a property manager should: Provide you with professional advice and help with dynamic situations. Property managers know everything from how to set the right market rental rates; to what’s included in Alabama Landlord and Tenant laws; to what has to happen when a tenant falls behind in rent payments. You are going to need professional advice from a trusted advisor when you make decisions about your rental property. You want that advice to come from an expert in the field that is not emotionally tied to the decision. If you have any questions about why it makes sense to hire a local property manager, or you’d like more information about property management services in general, please contact us at gkhouses.com, and we would be happy to talk to you.
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.