Whilst a landlord owns the rental property, they are not forced to manage all affairs of the property if they do not wish to. Landlords can seek help from property management companies for assistance if needed. This blog explores the difference between in-house management and property management companies.
In-house management would involve the landlord taking on all responsibility of running the rental property. Meanwhile, property management companies take on the role of dealing directly with tenants, in terms of rent collection and maintenance issues.
The reason that many landlords opt to seek assistance from a property management company is that they help reduce stress levels for landlords, taking many roles of responsibility out of their hands. This saves precious time for landlords, who can leave any problems to the property management company who are professionals in the rental industry, and can ensure that everything runs smoothly.
Property management companies can offer years of experience in managing rental properties which means that they will already have a defined process in place to deal with any issues that arise. They have experience in dealing with tenant disputes, evictions, property repair issues and many more scenarios. For a new landlord or a landlord who owns multiple properties, these types of issues can be extremely overwhelming to deal with which is why a property management company can be so useful
In addition, property management companies also fully understand rental housing laws that could impact landlords and tenants. Without full knowledge of these laws, rules could easily be broken getting the landlord into legal trouble which is why hiring a property management company can be so beneficial.
Bear in mind that property management is extremely time-consuming because it requires you to be on call twenty-four hours a day, seven days a week. This could disrupt a landlord’s day-to-day life, which is why hiring a property management company can free up a lot of a landlord’s time.
It is usually the price of a property management company which can make landlords believe that they can manage their property on their own. However, whilst property management is an expense, the benefits always outweigh the disadvantages.
If you’re searching for property management companies near me then consider Home James Property Management. With years spent overseeing a great range of Auckland’s residential rentals, the value and ease of our service make it invaluable to both landlords and their tenants. To find out more about what we do, how we work, or any other questions you might have as a property owner, get in touch with us today.