June 19, 2020

One of the biggest decisions you’ll ever make as a property owner is whether you should hire a property management company. Many property owners manage their properties on their own or with the help of a resident manager. However, to keep things running efficiently, it is a great idea to hire a property management company. This blog will answer the commonly asked question made by property owners: do I need to hire a property management company?

What Does a Property Management Company Do?

First things first: what exactly does a property management company do? Property management companies deal directly with tenants and prospects. Saving properties owners time and the stress of factors such as:

• Marketing rentals
• Collecting rent
• Handling Maintenance and repair issues
• Responding to tenants’ complaints
• Pursuing evictions

Property management also brings to the table something essential: expertise and experience in the field.

When Should I Hire a Property Management Company?

Although many property owners want to continue managing the property units on their own, there are times where hiring a property management company is necessary. For example, you should consider hiring a property management company if:

• You have a large number of properties or rental units – The more properties or rental units you have, the less you’ll be able to manage them efficiently. Property managers have experience and efficient methods for managing large properties and rental units effectively.
• You don’t live near the rental property – If you live far from the rental property, managing it can not only be a hassle, but inefficient. Hiring a property management company can help you deal with the many issues that you cannot handle from afar.
• Your time is limited – Even if you enjoy managing your property, you may not have the necessary time to devote to your business. If you want to focus on more important things, such as growing your business, then hiring a property management company to handle these tasks for you is a smart choice.
• You don’t want to be an employer – If you hire a resident manager or another type of employee to assist you with the management of the property, then you officially become an employer. This means that you’ll have to handle things like payroll and other legal requirements that can be quite a hassle.
• You’re not interested in hand-on-management – Many property owners view rental property as strictly an investment and simply don’t want to face the properties’ day-to-day management tasks. In this case, a property manager would take care of the whole thing for you.

How Do I Find a Good Property Management Company?

Your rental properties are your livelihood, so it is essential that you take the proper step when hiring the best property manager to oversee them. Things you can do to look for a good property management company include:

• Researching property managers online
• Asking friends and colleagues for referrals
• Interviewing several property managers

At Herridge Property Management, we know that your properties are important, which is why we offer the best that property management companies have to offer in San Diego! We are experts in the matter and want to help keep the management of your property to the best level yet! We hope this blog helped answer your question on whether or not you need to hire a property management company. If you decide that your property in San Diego would benefit from hiring a property management company, give Herridge Property Management a call at (951) 364-4799 or email us at herridge.mgmt@gmail.com