What value does a property management company deliver?
At the end of the day, a property management company is a service-based company. You are not buying a product so to speak. In that regards, it is a service that you can potentially do yourself. So then, the question arises, why should I hire a property management company when I could just do it myself. Or, if I hired a company to manage my rental property, then what value can they add to my investment? First off, many people hire a management company because they live out of town and it is just not practical to oversee the rental property from a distance. Others have been managing their property for a long time and now are entering into retirement and want to be free from the day-to-day involvement of managing a rental property. Remember back to when you first got into real estate investing and envisioned a time when you could have complete freedom – not only financial
Next, let’s take a look at some of the practical ways in which a property management company can offer or really create value for your investment property. A great property manager can function much like an asset manager in how they oversee and care for your investment real estate and help you to make wise decisions to accomplish your long-term objectives. They offer 24/7/365 coverage, which is