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Do I really need a property management company for my rental property?

The day you invested in a rental property, is the day you added to your list of responsibilities. Running and maintaining a rental property can be a demanding task(s) which could become overwhelming if you are not into it. For this reason many landlords prefer to leave the running to a professional property management company. But is this the right decision for you? Here are some points you may want to consider:

 

  • Are you cut out to manage a rental property? If you are fresh into property investment you might find the operating details a bit daunting. Collecting rent, for example, might see a simple, straight-forward task but it could well turn out to be a painful exercise. While some tenants are no problem at all, others can be difficult. If they acquire a hint of your inexperience they’ll soon take advantage of it.

 

  • Additionally, maintenance of your rental property can be demanding. If you are working at the same time you’ll find it difficult to address tenant concerns and carry out repairs in a timely manner. If you face this problem then property management is the perfect solution for you.

 

  • How far is your rental property from where you live? If the rental property in which you have invested is close to where you live and work then life could be a lot easier. But if it’s far away it could be something of a challenge to travel there every time a problem arises. If it’s tough to visit your property regularly to tackle situations and work with tenant issues as and when they pop up then it makes sense to hire a local property management company.

 

  • What shape is your rental property in? If your property needs regular maintenance and repairs you might find yourself spending more time there than you do at your regular job. If you receive constant calls for repairs then the answer is to have a property management company attend to them. The problem is compounded if you have more than one property. Here is where professional maintenance and management will come as a blessing.

 

  • What services would you need? You should decide on the areas where you need assistance and select your property management company accordingly. For example, if you need only rent collection services then a full-service management company might not be for you. Remember that each additional service costs you money and eats into your profits so make your selection after due consideration.

 

  • Is the company dependable and friendly? Make certain about this first so that you are assured of a pleasant and reliable experience. Do some homework by talking to other landlords and learning from their experience.

 

A Property Management Company for the Ages

 

Talley Properties Inc. is an established property management company which operates out of Charlotte, NC but manages rental properties in many of the surrounding counties. The company offers full-service management services but also accepts customized contracts. Its specialty is in mid-range to high-end commercial and residential properties. Talley Properties has been providing real estate management services to the community for over 30 years now which makes it one of the oldest professional property management companies in the Charlotte region.