If you own real estate and you are considering hiring a property manager for the first time, you might have some preconceived notions about the role property managers play in making your business successful.
In fact, a lot of our time is spent explaining — and sometimes re-educating — potential clients about the many benefits of utilizing a property management company like Real Property Management of Central Arkansas (that’s us!).
The fact is, people just don’t don’t know the facts. It turns out many people have conflated fact with fiction, so we’d like to take the opportunity in today’s post to dispel a few of the most common myths that real estate owners believe about property management myths.
So whether you’ve heard that all property management companies are the same, you’ve had a bad experience in the past, or you aren’t sure what to think quite yet, allow us the opportunity to shine some light on the industry based on our own perspective!
Property Management Beliefs: Fact Or Fiction?
Myth: Professional property managers don’t actually save you that much time.
Truth: “Real Property Management saves me time; and time is money.” – Jonathan, Real Property Management Client. If you’ve been managing your own property for pretty much any amount of time, you already know it’s nothing short of a 24/7 job. Unless you have a professional property manager (or some VERY nice friends), you probably won’t be able to get away for longer than a few days when managing your own property.
We will show properties to prospective tenants, deal with landlord-tenant laws, eviction situations, and fair housing issues on your behalf. We take the day-to-day tasks off of your plate so that you can enjoy your life while still reaping the rewards of owning your own property!
Myth: Property management companies don’t actually save you that much money.
Truth: Working with an experienced, knowledgeable company like our own will help you maximize your rental property’s return on investment. We have the very specific goals of protecting your investment while making sure your profits are maximized. Through utilizing the most accurate data available to determine ideal monthly rates, Real Property Management Central Arkansas stands apart from our competition.
What’s more, we’ll consult you regarding necessary property improvements that need to be made so that you can attract reliable tenants. The combination of shorter vacancies and reliable tenants translates to much more money in your pocket!
Myth: “I’m fairly handy. I can manage the repairs myself. How many could there be each month?”
Truth: We don’t want to step on anyone’s toes here, and we are sure you are the among the world’s best DIYers, but you should realize that, for many rental properties, performing maintenance and repairs is essentially a full-time job.
Even if you genuinely are equipped to be a professional maintenance worker, you have to take into account all the time spent doing administrative work. This includes spending time finding contractors and getting bids for advanced repair work, scheduling appointments with tenants, completing accounting for maintenance, and more!
There’s no debate about it: each property owner has a unique situation, so it’s somewhat difficult to speak generally about each case. Luckily, we’ve developed a leasing and property management calculator which compares the amount of time you spend on your management duties compared to other landlords!
The answer might surprise you.
Then get a free assessment of your Central Arkansas rental property!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.