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If landlording is your secondary job, you may not always have the time to tend to your investment properties. Let?s face it: maintaining a rental property can be really time consuming and tiring. If this is the case, you may want to hire some additional help to relieve you of your duties.
Usually, property managers will request for a percentage of your monthly rent and probably part of the first month?s rent. However, if you?re knee-deep in tasks for your rentals, it might not be a bad idea.
Consider the following tasks that a property manager will handle for you:
Advertise your vacancies.
This means you don?t have to worry about posting and monitoring your rental ads every day. Property managers are responsible for publishing your listings and making sure you get qualified leads and tenants.
Collecting rent.
Property managers are responsible for you getting paid by your residents every month. This means you?ll no longer have to worry about hounding down your residents when rent is due. It also means you don?t have to keep such a close eye on your finances, as well.
Schedule maintenance fixes.
Property managers must make sure that everything in each of the units are working properly. When there?s a repair in need, your property manager will need to find a fix. Usually, they?ll fix it themselves or outsource the service to someone else. Either way, you don?t have to lift a finger.
Evictions.
Property managers also could offer eviction-filing services. When you find yourself a problem tenant that may require evicting, your property manager will deal with a lot of the paperwork for you. (You will, however, pay the fees.)
Source: http://www.zillow.com/blog/pro/2013-01-25/why-you-should-hire-a-property-manager/
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