Orlando, Florida

Do I Need A Property Manager?

Do I Need A Property Manager?

This question can be answered in several different ways. But let’s take a Socratic approach and instead follow up our property management question with another question. Do you want to do the work or not? To determine if you need a property manager or not. Ask yourself the following 20 questions below. Being a landlord is challenging, and going at it alone should be reviewed carefully before taking the plunge. Asking yourself the following questions and writing down your answers, will help bring clarity to the pros and cons of your results. Your answers will give you a great idea as to whether or not you need a property manager.

  1. How close to my rental property do I live?
  2. Honestly, what condition is my rental property in?
  3. How many rental properties do I own?
  4. Do I plan on doing my own maintenance?
  5. What type of area is my rental property located in?
  6. Can I handle tenant requests at all hours? And do I want to?
  7. How well do I handle conflict?
  8. How will I collect rent?
  9. Am I open to taking on more liability?
  10. How experienced of a landlord am I?
  11. How much control do I want with my rental property?
  12. Can I afford a good property manager?
  13. Am I an accidental landlord or intentional landlord?
  14. What are my goals with the property?
  15. Why am I considering self-managing?
  16. Am I familiar with state and local regulations?
  17. Do I work another job for my primary source of income?
  18. How much free time do I have?
  19. Do I find it difficult to find quality tenants? 
  20. How much will I get for renting out my rental property? 

If you’re a pen to paper kind of person like myself, we attached this questionnaire below for you to print and fill out during your leisure time. Before jumping into any new venture, it’s crucial to have a clear understanding of the time and effort you’ll be faced with, and as a new landlord going it alone can be scary. As a full-service property management provider here in Central Florida, we have a fiduciary to our landlords. Finding a quality property management provider will only benefit you in the long-run. It’s nice to know you will always have someone in your corner looking out for you and your assets’ best interest. Review your answers and determine whether you are ready to take a crack at self-managing. If you have any questions about being a new landlord, feel free to reach out to The Listing Real Estate Management. We are happy to provide our insight and help you navigate the complex world of managing real estate.

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