Are you thinking about managing your rental properties yourself but you’re not sure if this is a smart choice for you to make or not? If so, the reality is that even though self-managing your rental properties may make the most sense right now financially there are a variety of what we call “bad surprises” that can come from self-management.
In this article, we’ll provide you with a few of the “bad surprises” that can come from self-managing a rental property.
You Charge More For Rent, And Your Rental Property Sits Longer Than You Expected
The first bad surprise that can come from self-managing your rental property can happen if you make the mistake of asking more for rent than what other comparable rental properties in the area are renting for.
Thanks to the internet, renters in today’s world are tech savvy and have the ability to quickly research rental properties online to find out if a rental property is overpriced or not.
You’re Spending All Of Free Your Time Managing Your Rental Property
Another bad surprise that could come from self-managing for rental property is spending all of your free time managing your rental property yourself.
Most owners who choose to manage their rental properties find themselves spending more time self-managing the rental properties than they thought that they originally would. In fact, it’s not uncommon for some people who are self-managing their rental properties to view their rental property as something of a second or third job.
Thankfully, when you hire a property management company, you can have confidence that your property manager will professionally manage every aspect of your rental property for you including property marketing, rent collection, and customer service so there won’t be anything that you have to do yourself.
Making Bad Repairs To Your Rental Property
Even if some people think that rental property maintenance is easy, it’s also very easy for any owner to make bad decisions when it comes to maintenance or improvements.
To save yourself the time, money and hassle of making bad repairs or improvements to your rental property, you can have confidence that your property manager will make the very best repairs and improvements for you since they will have a full-time maintenance staff that will handle all aspects of property maintenance or repairs for you from start to finish.
Being Too Lenient With Your Your Tenants Paying Rent
Last of all, but most important, another “bad surprise” that you may encounter if you choose to self manage your rental property is encountering tenants who always ask for more time to pay their rent after you let them pay their rent late the first time.
When you hire a property management company you can rest assured that the rent will always be collected on time and you won’t have to deal with excuses.
A property manager will always collect the rent from your rental properties on time and deposit it into your bank account on a monthly basis so you won’t have to do any actual rent collection work again.
Contact RPM Central Valley
Yes, hiring a professional property management company can save you the hassle of encountering “bad surprises” due to poor decisions that you’ve made for your rental property.
To learn more about the property management services we can offer you contact us today by calling (209) 572-2222 or connect with us online through our website.