5 Signs That You Might Want to Hire a Seattle Property Management Company
If you own commercial or residential property in the Seattle area you may have toyed with the idea of employing a property management company. But like most things in life, property management isn’t free. Why would you want to hire someone to take care of something you own? Of course, if you own commercial or rental property, you know there’s more to it than just holding the deed. Here are five signs that you might want to hire a management company for your property.
1. You're not a “hands-on” manager. Some landlords enjoy the challenge of finding good tenants and maintaining a safe and attractive property. But if you’re in it strictly as an investment and the thought of day-to-day management of your properties leaves you cold (or makes you queasy), you may want to hire some outside help.
2. You don't want to be an absentee landlord. If you live a long distance from your rental property, hiring a property management company dealing with some issues can really be frustrating. Sometimes there’s just no substitute for being on site. Having “eyes on the scene” can be a huge help.
3. You believe that time is money. Even owners that enjoy hands-on management sometimes just don’t have the time required to give to managing properties. That’s especially true if you have other irons in the fire. Handling day-to-day property management issues simply may not be the best use of your time.
4. You have multiple properties and/or rental units. The problems and issues associated with rental properties are like rabbits: They seem to multiply. And the properties you own, the more issues you’ll have to deal with. And if this isn’t your forte, you may want to hand this off to someone who does this every day.
5. Being an employer is not your idea of a good time. Chances are, you’re not going to be “on property” full time. But as soon as you hire a resident manager or maintenance person—you’re an employer. That means you’re responsible for payroll and insurance and a host of legal requirements. Because a property management company is an independent contractor (and they are responsible for the people who work for them) you avoid the whole employer hassle.
What’s your sign?
