Do you have properties that you want to rent but you don’t want to handle the work yourself? That’s where property managers come in. There are two available forms of management. You can hire a property management company to take care of your real estate or you can hire an individual property manager to do the job.
There’s no perfect choice and different people have different preferences. The odds of you finding a successful individual manager are equal to that of finding a successful and thriving property management company.
Let’s talk first about the pros of hiring a property management company. You’ll notice that some companies are so huge that they can handle hundreds of properties all at the same time. The fact that so many clients trust them with their real estate is enough proof that the services of that company works and they have a decent structure or system of getting things done.
Another advantage of working with property management companies is that they can probably get things done cheaper. A plumber won’t charge a company that calls him or her for dozens of jobs a year as much as he or she would an individual manager. It’s quite simple. A plumber or any handyman will benefit more from consistent work at a lower rate than sporadic work at a high rate. When you join a property management company, they probably already have dozens or even hundreds of clients because they can deal with that amount of workload. An individual property manager might have trouble keeping up with everything as the workload increases.
Lastly, companies have several employees and everyone is held accountable by a boss or team leader. When hiring a property manager, you will most likely need to supervise them yourself and check up on them every couple of weeks.
Property managers have lots of features that make them attractive options too or else they wouldn’t still be in business. First and foremost, a private manager is someone you know and can talk to directly. When calling a property management company with a complaint, you will probably never get the same person on the phone twice. This can make you feel like you’re not a priority or that you’re just one of the groups of clients who are all treated equally but without a personal touch.
Your property manager will also probably deal with whatever issues you hand them with speed and efficiency. At a property management company, your complaint will go through a system that isn’t always super-efficient. Finally, there’s usually more flexibility with individual property managers than companies. If you want something to be a done a certain way, then you will sometimes face some resistance from companies.
Here at MYND we assure you that you can get the best of both worlds. You can get the system and accountability of a property management company with the personal touch and flexibility of a individual property managers. There’s really no reason for you to sacrifice the pros of one of them for the other.