Everyone who owns a rental property in Highlands makes a continuing management decision concerning how much of the day-to-day operational responsibility to outsource. Some are inclined to tackle the nuts and bolts of tenant management, while others are content to leave it to one of Highlands’s professional property managers.
If the main motive for acquiring the rental was for its value as a long term real estate investment, there is an increased likelihood that one of Highlands’s professional property management firms will get the nod. Beyond the dollars-and-cents dimension—which can boil down to a calculation on how you value your own time—there can be personal elements behind the decision. Do you enjoy keeping a close watch on all your business dealings? Or is minimizing the hassle factor a higher priority? Those are tradeoffs only you can calculate, or recalculate if your initial decision doesn’t work out.
Another factor can come into play—one that’s seldom mentioned or written about. It has to do with another party in the business arrangement that is being created: the tenants!
When all is said and done, setting up the way a rental property is to be managed is identical to creating the operations blueprint for any ongoing business enterprise. Both involve a customer relations element. As landlord, you are the proprietor, and the tenants are the customers. Every business that hopes to maximize its return on operations soon experiences why taking customer satisfaction into account pays dividends (at least, the more successful ones do)!
By that yardstick, the decision on whether to choose professional property management is not only about a landlord’s willingness to expend the time and effort their personal involvement will require. That choice should also take the tenant’s satisfaction into account…and on that score, the years of experience that come with a veteran Highlands professional property management firm can tilt the scales in its favor.
Having a proven system for handling trouble calls in a timely manner is one obvious advantage—as is being able to tap the talent of professionals whose full-time job it is to take those inevitable situations in stride.
Locating and helping you acquire choice Highlands investment properties is one way I help my clients. Another is to provide a solid resource for new owners as they go about organizing their ongoing tenant-handling arrangements. Call me anytime to discuss today’s great current array of available investment properties—and the best ways you can make the most of them!