Do You Have Too Many Properties to Manage?

If managing your investment properties in Prescott is more than you can handle, then you need Far West Property Management to handle your tenants and properties.If managing your investment properties in Prescott is more than you can handle, then you need Far West Property Management to handle your tenants and properties.
Is managing your investment properties becoming more than you can handle? Property managers in Prescott can be incredibly helpful, and they might seem more like a luxury than a necessity. Some landlords manage their properties with very little effort – and have set up their rental businesses to run on autopilot. It’s easy to access the internet to research how to set up the process of being a landlord. There are online services that provide rental agreements, applications and necessary addendums. The trick is to be consistent with all your rental properties. It can be more difficult than it looks, Far West Property Management, would like to bring you the following things to consider.

How many properties or rental units you own?
Most landlords can handle 1 or 2 units on their own. When you start to deal with 5-10+ properties and dozens of tenants, you should consider getting some help – especially if you have a separate full-time job.

How far away do you live from your properties?
If you live over 50 miles away and have more than 2 units, a local property manager can really help in a pinch, they have a list of vendors that can be called on in an emergency.

Are you detailed?
Perhaps property management does not interest you, or you are not detail oriented.  If you are not an organized person, then you should consider giving the responsibility to a professional.

Do you have the necessary skills?
If you have no idea what you are doing, and don’t want to learn, then don’t try to do it yourself.  If you prefer to learn on the job, again you can research the internet or learn from many of our articles on the Far West Property Management website.

How busy are you?
Maybe you’re already super busy and can’t dedicate 2-10 hours a month for your properties.  If you have dozens of tenants, you may not have time to manage your properties, unless you want this to be your full-time job.

Are you struggling to fill your vacancies and don’t know why?
If you feel like your property is vacant too often, then you might need help with your marketing or screen process. A property manager know the area and has techniques for marketing your property or screen tenants. 

Do you have a service-oriented personality?
If you are not a “service” person, and find it annoying to receive regular maintenance calls from tenants, then you probably should take the role of silent investor and hire a professional

Do you mind working with contractors?
Contractors are often needed to maintain the property.  If you don’t feel comfortable researching, hiring, and double-checking their work, then you should probably hire a manager.

There are many reasons why you should hire a Prescott property management agency. It just depends on your level of commitment and expectations. The main purpose of a property manager is to give you peace of mind that your investment is being handled with care. A professional property manager is organized and will reduce your stress level by freeing you of any involvement between you and your tenants. If you have questions, call for an appointment at 928-772-9400.