Imagine this: you have 10 real estate investment properties in your portfolio and you've been managing okay until now. But now it feels like a chore every time you have to go to a property in the middle of the night to fix a leaking toilet or to help with a locked-out tenant.
If you wish there were another way to manage all your rental properties, it's time for you to hire a property manager. There's no need to put yourself through such torture anymore. Real estate investing is supposed to ease your life and make it more comfortable, not less so.
Let's read on for more signs that you need to hire a property management company ASAP, besides having too many rental properties.
1. You Live Far Away from Your Properties
Maybe you live in Boise, Idaho, but all your properties are in Salt Lake City, Utah, because the rental market is better there. Whatever your reason might be, that doesn't matter.
If you live far away from your rental properties, then it would be a major annoyance to drive to your properties every single time there's a problem.
Not only would it be expensive to pay for gas and a hotel, but it's also time and energy that you would need to expend every time.
2. Your Properties Are Getting Old and Need More Care
When you first bought your properties, they were brand spanking new and needed very little upkeep. But now they are getting old and need a lot more care and maintenance.
If that's the case, then a property manager can take better care of your properties than you can.
3. You Are Looking to Retire and Spend More Time with Family
Maybe you are getting old yourself and you don't want to spend hours taking care of your rental properties.
You would rather spend time at home with your family, your fur babies, and your grandchildren.
4. You Wish to Travel More in Your RV or on Cruises
Traveling and managing rental properties solo don't go well together. You always need to be on hand to take care of problems, and you can't just up and leave on a cruise or travel in your brand-new RV.
Stop restricting yourself from your travel plans by hiring a property management company.
5. You Are Getting Bored of Managing Your Properties
You might have been excited about managing your properties at first because it was a novelty.
But now you are sick and tired of it. Then it's time to hand over the reins to a reliable property manager.
Hire a Property Manager and Free up Your Mind and Life
Property maintenance is becoming more complicated as time goes on. It's not as easy as it was in our parents' time. That's why you need to hire a property manager to take care of all your rental portfolio, rather than doing it yourself.
If you are in the Salt Lake City area, then contact Wolfnest to request a free rental analysis. We are Utah's trusted property management company.