You should consider hiring a property manager when…
Live out of area to your investment property
By employing a property manager who is located close to your investment property with local connections, knowledge and the ability to attend your property promptly will be far more beneficial to an investor.
You don’t want a relationship (with your tenant)
Many people find it easier to use a property manager to manage day to day tenancy issues, as many are sensitive and often can lead to difficult conversations.
Can afford the cost
When weighing up the time versus cost you wish you had a property manager managing your investment property. A property manager will reduce the hassle of spending your time collecting rent, arranging repairs, conducting property inspections, keeping trust accounting accounts and records, filing bonds, locating tenants, adjudicating disputes, managing tenancy breaches, reviewing legislation and lease paperwork, renewing rent and leases to name a few investment property related activities.
Own multiple investment properties
The more rental properties you own, the more you’re likely to benefit from a property management team to manage all the tasks and people involved in the process for you.
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