Should a property management company handle your rental property?
Everyone who owns a rental property in Nashville makes an ongoing management choice regarding how much of the day-to-day operational responsibility to outsource. Some are willing to undertake the practicalities of tenant management, while others are comfortable leaving it to one of Nashville’s professional property managers.
If the prevailing purpose for acquiring the rental was for its value as a long-term real estate investment, there is a heightened probability that one of Nashville’s professional property management firms will get the job. Apart from the dollars-and-cents aspect – which can boil down to an estimate on how you value your own time – there can be personal components behind the decision. Do you enjoy keeping a close watch on all your business dealings? Or is minimizing the hassle factor a bigger preference? Those are tradeoffs only you can calculate, or recalculate if your first decision doesn’t work out.
Another consideration can come into play – one that’s seldom mentioned or written about. It has to do with other people in the business arrangement that is being generated: the tenants!
When all is said and done, deciding on how a rental property is to be managed is the same as creating the operations blueprint for any ongoing business enterprise. Both involve a customer relation’s factor. 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 measurement, the choice on whether to choose professional property management is not only about a landlord’s willingness to afford the time and effort their personal involvement will require. That decision should also take the tenant’s well-being into account…and on that score, the years of experience that come with a skilled Nashville professional property management firm can slant 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 buy prime Nashville investment properties is one way I help my clients. Another is to provide a solid resource for new owners as they go about coordinating 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!