Investing in real estate like apartments and condominiums is a very wise decision. However, managing and running a day to day task like dealing with the renters or leasers, keeping up with maintenance, accepting rents, managing the accounts and finances, can be a stressful task especially if you are just new to the business and have no experience in managing rental yourself.
You should be familiar with fair housing and landlord/tenant laws in the jurisdiction(s) where your property is located and legal process to deal with non-paying tenants. You must also have a reliable means to determine fair market rent and returns on your investment property. Yes, managing a rental property can be a time consuming process.
But do you know that there are companies that can help you manage your properties? Chandler property management will do all the work for you including the acquisition, control, accountability, maintenance, utilization, and disposition. They can also participate in or initiate litigation with tenants, contractors and insurance agencies. Their role is much akin to the role of management in any business.
Most property managers charge a percentage of the monthly rental rate which can range anywhere from 6-10%. This is actually quite nominal when compared to all the services they can provide plus the fact that they can serve as buffer for those landlords desiring to distance themselves from their tenants.
By hiring a property manager, you can focus on your other investment or career by having extra personal time.