Question for landlords: have you or would you hire a property management company? Why or why not?

Asked by Trulia Fort Lauderdale, Fort Lauderdale, FL Thu Dec 20, 2012

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Tricia Luther’s answer
Tricia Luther, Agent, Fort Lauderdale, FL
Thu Jan 17, 2013
There are different factors as to why you would or wouldn't hire a property management company. If you are a remote landlord and you own a single family home, it's not a bad idea as the company will take care of continued lawn maintenance, handle middle-of-the-night emergencies, plumbing, electrical problems that can be a hassle from afar, as well as, take care of getting and depositing rent checks, etc. (however now with the ability for tenants to deposit/transfer rent right into your account, that's not so much of a big deal). If you are renting a condo and the condo building takes care of all exterior items and your only responsibilities are the appliances, then it may not be worth the money to hire a management company. If you are local, then it depends how much responsibility you want to have. Hope this helps!
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Meir Aloni, Agent, Plantation, FL
Thu Jan 17, 2013
If one just became a proud owner of a rental property, it will be much cheaper and pain free (as long as the Mang. co. is good) than to fly solo.
Hire a Mang. co. for a year and "shadow" the Mang. co. handling of the issues which will come up...
After a year you will be in a much better position to decide on what's next....

With enthusiasm,

Meir Aloni & Team

CRS (Certified Residential Specialist)

CDPE (Certified Distressed Property Expert)

RECS (Real Estate Cyberspace Society)

Successfully selling Broward County since 1986!

Direct phone# 954-338-5220

All Star Realty Inc.
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Joseph J. Mi…, Agent, Coral Springs, FL
Fri Dec 21, 2012
Yes! Why? Because when a renter knows you are the owner they also know that "the buck stops with you". They know you are the decision maker and you are likely not accountable to anyone else (except maybe your spouse or partner). It is much more difficult to enforce your policies. A good property manager is the middle man who is ultimately accountable to you and tenants understand that. They know that the manager only has as much power as the owner gives them. They also are a probably much better at it than you and help you leverage your time.
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How much does it cost to hire a property manager?
Flag Mon Dec 31, 2012
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