Monday, March 16, 2009

Should I Hire a Property Management Company?

Dear Property Manager:

I recently bought a commercial property near Charlotte, North Carolina, and my original intention was to manage it myself. However, I recently had to go back to work (I had been officially "retired" over a year), and now I think I need to consider a property management company to take over for me.

Should I hire a company to manage the property, or is it possible to do this and work a full time job?

Greg H. Charlotte

Dear Greg,

Maintaining and running a commercial property can be quite a responsibility, and because of that, many landlords do choose to work with a Charlotte property management company.

While I can't say if this is the best decision for you, I can tell you what you need to consider:

Do you have a thick skin, a strong business sense and the ability to get things done?
Collecting rent from your tenants may be easy... or it may be very difficult. Having on-site property management in Charlotte can be in your best interest, and allow you to stay "the good guy," with your tenants and, as such, may be the ideal situation for you. Also the day-to-day maintenance of a rental property can be time-consuming, and if you are also working a full-time job, you may not have the time to handle tenant concerns and repairs.

Where is your property located?
If your property is close to your home or office, then you may be able to stop by frequently. However, if your rental property is far away, it will be more difficult to address tenant concerns and maintenance issues. If you're unable to check on the property regularly, a Charlotte property manager may be a definite advantage.

Is your property new or old, big or small? Depending on the size and age of the property you may want to consider a property manager. Older properties will need more maintenance, and bigger ones are likely to have more frequent tenant concerns.

Ideally, a property management company will be friendly and easy to work with. They will create more free time and less worry for you. Best of luck to you - and please let us know if you would like to know more about how Kuester Property Management - Charlotte, NC may be able to assist you.

Property Manager

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