When should you chose a property manager to manage your investment
You should consider hiring a property management company if:
You don’t live near your investment property. Having someone close by your investment property or with local connections, knowledge and the ability to attend your property quickly, will offer you peace of mind.
You do not wish to go through the rigorous process of documentation verification. Documentation verification is one of the important steps you have to go through to avoid buying a property with in genuine documentation.
You wish to avoid buying a property with existing court case. There have been cases where properties offered for sale would have court cases and the property manager as part of his role needs to diligently confirm this. You would want to involve one if you wish to avoid buying a property with existing court case.
Your time is limited. You may not have the time to invest in managing your own investment property.
You can afford the cost. After weighing up time versus cost. You decide you wish to use a property manager. Ensure you research what service you will actually get and what you are paying for them.
You have multiple properties or rental units. The more landed or rental properties you own and the more units they contain, the more you’re likely to benefit from a management company to manage all the tasks and people involved in the process for you.