Being a landlord in Montgomery County is no easy task.
Yes – it definitely has its benefits, but sometimes the negatives outweigh the positives.
It can be a demanding, time-consuming job that will take over your life if you allow it to.
If managing your property has started to feel like a huge burden, then you probably already know what I’m talking about.
Luckily, you can hire a professional property manager to make your job much easier by taking over many of your responsibilities, like rent collection, tenant screening, and more.
That means more time for you to relax and less time spent stressing over your properties and tenants!
Not sure if you should work with a property manager? Here are 9 signs you might need one:
The Telltale Signs You Need a Professional Property Manager
1. You are managing several rental properties.
There’s no doubt about it – managing several rental properties at once is a full-time job.
You have to handle advertising, marketing, maintenance, tenant requests, and more, which makes it pretty easy to get burnt out and overwhelmed, especially if you’re juggling another job on top of being a landlord.
When you hire a property management company, a manager will be assigned to each property to handle everything so you don’t have to. That means you can take on a more passive role and focus on doing things you actually enjoy!
2. You don’t live near your rental properties.
Some issues, like serious maintenance problems or late rent payments, can’t be easily dealt with from far away. When your presence is required, you’ve got to drive to your property, which can be both time-consuming and costly.
Luckily, that’s not something you’ll have to deal with if you work with a property manager. They’ll take care of problems with your property so you can avoid the hassle of an unwanted road trip.
3. Being a landlord is stressing you out.
Being a landlord isn’t a simple 9-to-5 job. You have to be available 24/7 to handle problems with your properties, address tenant complaints, get your tenants to pay rent on time, and take care of other various responsibilities.
That’s certainly enough to stress anyone out.
If your stress levels are getting out of control to the point where your job as a landlord is negatively affecting your health and happiness, consider working with a professional property management company.
They’ll take care of the stressful tasks so you don’t have to.
4. You don’t have much time to devote to being a landlord.
Not everyone has the time to be a good landlord. It’s a demanding job and requires a lot of hard work, and if you mess up, it becomes even more of a hassle.
For example, if you don’t have time to screen tenants properly, you could miss some serious red flags and end up placing a bad tenant in your property. In that case, you could be forced to deal with late rent payments, damage to your property, constant complaints, or even an eviction.
So, instead of rushing through your duties as a landlord, think about hiring a property manager to handle everything properly so you can get your free time back.
5. You’re struggling to get rent payments on time.
Few things are as irritating as dealing with tenants who consistently make late rent payments. It’s an uncomfortable, costly situation that forces you to follow up with the tenant until they hand over the payment.
A good property manager can handle collecting rent payments from your tenants and will do everything possible to make sure payments are made on time every month.
6. You can’t find high-quality tenants to place in your property.
If you’re dealing with too many vacancies and aren’t sure what’s wrong, you might need help with marketing.
If you’ve tried to teach yourself some basic marketing skills, you already know that it can be pretty overwhelming, whether you’re using old-school tactics or newer digital marketing tactics.
That’s where a property management company comes in. A good property manager will be able to help with marketing by:
- Advertising your properties on online classifieds
- Using off-site marketing tactics
- Using direct mail strategies
Plus, the property manager will have experience creating attractive ads that can draw in the top-quality Montgomery County tenants that you actually want living in your property.
7. You’d prefer to take a “hands-off” approach.
You may find that you don’t enjoy taking a “hands-on” approach to being a landlord. Maybe it’s too frustrating. Maybe it’s too time consuming. Or, maybe you just aren’t a people person and cringe every time you receive a call or text from a tenant.
All of these reasons are perfectly valid, and a property manager can handle the “hands-on” aspects of your job so you don’t have to.
8. You can’t find good contractors.
If researching contractors online so you can find the best one isn’t something you want to do, hand the responsibility over to a property manager.
Some property managers will take care of finding reliable contractors for you, and others will have their own maintenance team to use.
9. You don’t know the local laws.
If you’re in Montgomery County, you’ll need to know the local laws there as well as the Maryland state laws for landlords.
If you don’t and you have no interest in learning them, hire a property management company to make sure you’re operating legally.
A good property manager is well worth the financial investment and will make your life better by simplifying your job as a landlord so you can avoid becoming overwhelmed by unwanted responsibilities.
At Bay Management Group, we help landlords in Montgomery County and the surrounding areas by providing rent collection services, maintenance services, eviction services, full leasing services, and more.
We’re responsive 24/7, and less than 1% of the tenants we place get evicted. If they do get evicted within the first year, we release your property for free!
If you’re interested in hiring a property manager or would like to learn more about what a property manager can do for you, we’d love to talk. Contact our team today!