If you own several units of property that you rent out, then you know how complicated and time-consuming it is to manage them. You always do not have time to address tenant issues, especially if they crop up almost simultaneously.
This is a common reason why most owners hire a manager, typically someone who stays in the area to take care of the daily comings and goings of the renters. One more solution you should consider is hiring a property management company to manage your investment in Portland.
Here are a few thoughts to help you determine whether a property manager is for you or not.
When proximity is a problem
Most property owners live in the same building that they rent out, but this is not always the case. If let us say, you live in Portland, but your property is in Seattle, then hiring a manager that can have easier access to your property is a good idea.
That way, you can focus on other things like finding tenants while your manager handles issues, complaints, and rent collection for you.
When you have several properties
The more properties you have, the harder it is to take care of all of them. If you have several buildings for lease, and if by any luck they are miles away from each other, it will certainly be difficult for you to manage all of them at once. A property management company can handle all these for you, while you take care of other things that need your time.
When management skills and experience becomes necessary
If you believe that you are relatively a newbie in this field (first-time investor), then hiring the service of a property manager with experience can greatly help you out. If you have problems with your properties and you have no idea what to do, then someone with experience would be crucial to ensure a return on your investment.
Hiring property managers is an entirely personal decision. Consider these pointers to find out if you need one. After all, asking for help is never a bad thing.