Every landlord, whether you are new to the game or a seasoned veteran, asks themselves the same question at one point or another. “Should I hire a property management company?” It is perhaps the biggest decision you will have to make as a landlord…and it can be one of the most profitable. Hiring a local property management company can be a huge asset to your business, but only if you hire the right firm.
Property management companies deal directly with the day-to-day activities associated with managing a property – marketing, tenant screening, tenant complaints, maintenance, rent collection, evictions, etc. – allowing you to focus on the bigger picture.
Maryland Property Management Services
Clagett Management provides full service, competitively priced property management throughout Maryland, West Virginia and Virginia. We utilize the latest in management, accounting and reporting software to effectively and efficiently manage all types of properties from a 1,000+ unit homeowners association to single family and townhouse rentals. Our goal is to help you profit from your investment and to free you from the daily concerns of your property’s upkeep and operation.
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Should I Hire a Property Management Firm?
If you are still on the fence (we understand, it’s a big decision), here are a few questions to help guide you on your path:
Can I afford a property management firm?
While there are several benefits to hiring a property management firm, you must ensure you have the money in your budget to do so.
Do you struggle to keep up with multiple properties?
The more rental properties you own, the harder it is to manage the day-to-day tasks. As we’ve already said, you can’t be everywhere at once. Sometimes you need some help to keep from spreading yourself too thin.
Do you live close to your rental properties?
How far away do you live from your rental properties? Is it easy and convenient to respond to maintenance requests or tenant complaints? If your rental property is located far from where you live, hiring a property management company can be invaluable.
Do you enjoy being hands-on?
If you view your rental property as an investment and want as little to do with management as possible, hiring a property management company is the right move.
Sometimes landlords need a little help, and that’s nothing to be ashamed about. You can’t be everywhere at once. A property management company can help you better manage your real estate investment.