Small-time landlords are leading the charge when it comes to managing rental properties. The majority of properties are owned by individuals with only one or two. Approximately seven out of ten properties are owned by such a person.
That's a lot of people going it alone in their free time, in one of the most challenging industries out there. Many can barely keep up with their landlord obligations on top of a normal, full-time job. At some point they ask themselves the question: should I hire property management?
If you're unsure whether you need a property manager in Northern Virginia, we're here to help. Let's discuss some of the reasons you might hand over the reins to a professional.
A Property Manager Helps If You're Overwhelmed
You're already busy enough without even considering the fact that you're a landlord. You likely work a full-time job (with a healthy smattering of overtime) plus a second job or a side hustle. Approximately 44% of Americans spend up to 13 hours per week earning side income.
That says nothing about family obligations, in addition to other everyday requirements you may have. Having to manage a Virginia property on top of that may prove to be too much. In that case, it may be a good idea to seek rental property management to lighten the load.
They Help Protect Your Investment
Your property does more than provide monthly rental income. Its real estate value grows over time, making it a life-changing investment that you can sell or grow. In the meantime, though, it requires a ton of work screening tenants, doing maintenance, and marketing it when they leave.
One of the great things about a property manager is that they can help protect your investment. They can handle all those duties from coordinating repairs to updating rental marketing materials. If there's something that needs doing to improve or maintain the value of your investment, they will handle it.
They Give You Professional Advice
Many myths and wrongheaded ideas continue to circulate about the real estate industry. Take, for example, the idea that you should have a strict no-pet policy. It's a little thing that deprives you of many long-term, high-quality tenants.
Without a property manager to tell you otherwise, you might continue to make this mistake for years. So, another huge advantage of a property manager is the expert advice you get along the way. You're less likely to hit snags and pitfalls if you have someone to guide you.
Get Great Property Management at Chambers Theory
Getting property management is one of those questions every landlord has at the back of their head. If you decide to pull the trigger, it will help you protect your investment, even with an overloaded schedule. The professional advice you get in the process will likewise be invaluable.
The Chambers Theory team comprises individuals with decades of real estate experience. We secure the highest rents, the lowest management fees, and the best tenant turnaround. Become a happy property owner with us by getting your own instant rental analysis report.
