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Questions to Ask Yourself When Hiring a Property Management Firm

Becoming a landlord is easy today. Anyone with a decent credit score can buy an old house, fix it up and flip it or rent it. Many investors choose to rent those fixer uppers to bring in disposable income every month. However, once an investor gets on a role of buying and sprucing up homes, they may find themselves in over their heads with trying to be a landlord and also an investor. This is where a property management firm can come in handy. If you are trying to determine whether or not you should go with a property management company such as Scott Properties, ask yourself these questions:

  1. 1. Do You Live Near the Property? 
  2. The further away you live from the property the more time and money it will take to travel there frequently for maintenance issues inspections,
  3. showing and marketing the property and much more.
  1. 2. Are You Good with Stress? 
  3. It takes a special kind of person to deal with the constantly phone ringing, tenant issues, and collections that come with leasing a home to someone.
  4. Can you handle a confrontation with or between tenants? Sometimes, in order to live our best lives, we must leave the stress to a professional.
  5. 3. Are You Feeling Overwhelmed? 
  7. Sometimes people jump into things quickly without realizing what they are in for and can get overwhelmed. If you are already feeling this way about your property(s) the extra help in managing your rentals may be what you need to bring your blood pressure down.
  8. 4. Are you Good with Record Keeping and Accounting? 
  9. There are a lot of numbers involved in renting. A property management company has accountants that will handle your taxes, rent collection, debt collection, payroll, and invoicing. This can be a huge burden off of a property owner’s shoulders.

Hiring a property management company is usually the best choice for people who own multiple properties, live in another state than the property, or just don’t have the time or energy to deal with the stressors of renters. Scott Properties has years of experience in the industry and may be the right choice for your property needs.