Disadvantages and Advantages of Hiring a Company for Residential Property Management

by | Feb 15, 2018 | Real Estate

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Real estate is a costly investment in terms of both time and money. Property owners can have a difficult time deciding whether they should hire some help from residential property management in Las Vegas. You may feel it is better to try to handle it all on your own. There are some distinct advantages and disadvantages to enlisting professionals to help you manage rental properties. Here are a few of them.

Advantages of Hiring a Real Estate Management Company

  • Save Time/Effort – A property manager handles all your “dirty work.” They keep it rented, find tenants when needed, collect rent, manage repairs and many other tasks saving you lots of time as well as effort and energy.

  • Finding Tenants – Hiring residential property management in Las Vegas means you do not have to seek out tenants. It becomes their job to advertise and keep tenants in rentals.

  • Stay Up-to-date – A professional real estate manager will always be up-to-date on local, state and federal regulations regarding landlord/tenant requirements and responsibilities.

  • Establish Rental Rates – A manager will stay current on the going market rates and determine a rental rate to ensure you get the most your rental can bring in.

  • Communication – You will not have to deal with renters, they will handle all communication with them. A manager handles complaints and middle of the night emergencies.

Disadvantages to Hiring a Real Estate Management Company

  • Attention – A third party is not always going to handle properties exactly as an owner would. For hands-on owners who like to develop relationships with renters, this can be a disadvantage.

  • Decreased Profit Margin – Owners have to hire managers. The rate for a real estate manager is based on the amount of rent they collect. Typically, a manager charges all of the rent a tenant pays for their first month. Then they collect then between 8 and 10 percent of the rent paid each month for as long as the tenant is occupying the rental.

Let us show you the many advantages of hiring a residential property management team. Visit the Real Property Management Las Vegas website to learn how we can help protect your investment.

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