Manage property on your own or hire management company ?

[Kristine Norris]

Newbie here! I’m about to be a first time rental property owner. I’m considering having a property  management company run it for a while until I learn the ropes or indefinitely. Thoughts? and how should I go about finding the best company?

[Aaron W.]

@Kristine Norris Congrats on your upcoming property purchase.  I am a big proponent of using property management.  It looks easy when things are going well, but it can be a real pain when there are less than ideal tenants or emergency repairs are needed. It's a tough job to manage a property well which is why I outsource all my property management. I am happy to do it so it can free me up to do the things I want and/or find more properties to acquire.

Make sure you do a thorough job finding a property manager. They are not made the same. Many will talk a big game and you will want to do a thorough check on them to ensure what they say is what they do. You must have complete trust in a property manager as they are your eyes and ears on the property, and can make or break the investment based upon the way they manage it. 

Best of luck!