Having difficulty deciding whether to hire a Property Manager?
Ask yourself these questions to help in your decision:
- Have I ever managed rental properties?
- Do I know the fair housing and landlord/tenant laws that apply to where my property is located?
- Do I want to be available 24 hours a day to handle emergencies and questions from my tenants?
- Do I have a network of licensed and bonded contractors that will ensure I can respond to those emergencies, and at a reasonable price?
- Do I have the accounting systems in place to manage accounts receivable/payable, monitor the profitability of my property and accurately pay all applicable taxes?
- Do I know what legal actions to take if tenants don’t pay their rent?
- If a tenant were to sue me, do I have professional lease agreements that will minimize my exposure?
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