Is a Property Management Company Right For You?

If you’re tired of the hassles of being a landlord but want to keep your investments, then a property management company may be the answer. There are three different types of property management companies, each with a varying degree of involvement.

Asset management companies focus solely on the property side of being a landlord. These companies handle fact finding and decision making regarding the acquiring, holding and selling of properties.

Off-site management companies hire and supervise on-site employees, contract any major maintenance or repairs, purchase large items, carry out evictions and manage bookkeeping and check writing.

On-site management companies take care of the daily, site specific tasks. They show vacant properties, select tenants, purchase smaller items, manage minor maintenance issues, collect rent and make banking deposits.

Any combination of the three companies may be used to relieve some of the landlord burden depending on how much involvement and control you wish to retain.