DO YOU EVEN NEED A PROPERTY MANAGER?
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
to makesure 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?