Before you go hiring a property management company, be sure you need one in the first place. If you can do the following yourself, then maybe hiring a property manager won’t be necessary.
Do you have the resources to screen the tenants thoroughly?
Do you know the Fair Housing Act, Oregon Landlord Tenant Act and other laws and statutes to prevent getting caught in a lawsuit?
Do you know what it takes to evict a tenant and go to court?
Do you have time to chase rent every month?
Do you have your plumbing and contracting license to fix repairs?
Do you already have relationships with vendors/repair specialists to ensure the best rate and that repairs will get done in a timely manner before the repair turns into a bigger issue and a possible remodeling need? (Things WILL break- and did you know, legally you have a certain time period to fix certain critical issues?)
Do you watch the rental market
sure you have the rent set accordingly?
Do you know when and what notices to post for certain issues?
Will you be available at all hours of the day 24/7 365 days a year?
If you can answer yes to the majority of the above then perhaps you are well suited to self-manage your property. However, it does seem that most investors in Real Estate begin with the end goal of Freedom in mind and that is one of the great advantages and benefits of hiring Professional Property Management. As we like to say here at Centurion, "Enjoy Life...Leave the Management to