Self Management Vs Professional Property Management In Denver What Should I Do?
I’m Biased Towards Property Management!
So There’s A Lot Of People That Do It Very Successfully.
So let’s dig into it.
The First Question I Want Would Say Is Do You Have The Time And The Energy To Market Your Home? (Self Management Vs Professional Property Management In Denver What Should I Do?)
The Second Question I Would Ask And You Can See Me Looking Down At My Notes Is, Do I Have The Ability To Screen Tenants?
Do I know what I’m looking for?
I think this is where self-management people get into the biggest trouble is the kind of rely on gut feel versus kind of hard data on whether an applicant’s going to be good or not.
If you’re relying on hard data, generally, you’re going to make over the course of time better decisions.
That Doesn’t Mean You’re Going To Be 100%. (Self Management Vs Professional Property Management In Denver What Should I Do?)
But it does mean that you’re going to make better decisions over the course of time.
If you’re relying on a gut feel, then that’s going to be a problem.
So if you don’t have a good way to screen your applicants, then you’re definitely going to want to choose property management because a property manager may actually pay for themselves in this instant.
The Next One Knows Fair Housing Laws And Know, You Know, When It’s Important To Abide By Them. (Self Management Vs Professional Property Management In Denver What Should I Do?)
Now, it’s always important to abide by them.
But there are actually some people that don’t qualify for fair housing.
As you don’t want to get into an issue with fair housing. That is just a recipe for disaster.
I would highly suggest that this is a fear of yours, choosing a property manager.
Because we take classes on fair housing, we do a lot of fair housing training with our team members.
Our Whole Goal Is To Find The Best Most Qualified Tenant!
And we certainly our whole goal is to find the best most qualified tenant regardless of any outside factor, like race, religion, things like that.
So we’re looking for the absolute best tenant, the best-qualified tenant to put in your home.
The Next One I Would Say Is Once The Tenant’s Moved In, Is How Good Are You Are How Available Are You To Answer Repair Phone Calls?
This is the number one reason tenants leave houses is that their repairs aren’t being taken care of in a timely fashion.
Property management companies are set up to take these phone calls.
We actually have a 24/7 hotline that tenants can call, they can also submit work orders online.
It Is Our Job To Make Sure That That House Is Being Taken Care Of. (Self Management Vs Professional Property Management In Denver What Should I Do?)
I would make sure that you have the ability much like when a tenant prospect calls to kind of jump on these repairs.
That you have a maintenance person handy that can go get on these.
Generally, if it’s an emergency in less than 24 hours.
If it’s not an emergency, somebody that can do it fairly quickly.
And Then The Last Thing, One Of The Things I Like About Being A Property Manager Is We Kind Of Insulate Our Owners In A Couple Of Different Areas.
The first one, I would say from a risk standpoint, we insulate you from risk.
We kind of know what the landlord-tenant laws, local state landlord-tenant laws are.
And in Colorado, those are changing a lot. And we’re having to keep up with those.
That’s the kind of a hard thing to keep up with.
Now, just because you don’t know the law doesn’t mean you don’t have to abide by it.
So if you from a risk standpoint, if you can’t consistently keep up with the laws, then you might need to choose a property manager.
The Second Thing Is We Also Insulate You From The Emotion Of Conversations With A Tenant. (Self Management Vs Professional Property Management In Denver What Should I Do?)
So think about like a tenant calling you on the phone, telling you a sob story you know, “Why I wasn’t unable to pay rent.”
If you can’t have a difficult conversation with that tenant, it is much easier to have that difficult conversation through us.
So that’s another thing that property managers do is we insulate you from those things.
So That’s It. That Is Questions Owners Ask.
Today’s question was should I self manage? Should I property manage?
These are questions you need to know, questions you need to ask yourself as you’re trying to decide on that.
My name is Matthew Whitaker with gkhouses. So excited to help you out.
If you have any questions for us I hope you’ll reach out to us and we’d love to help answer any questions.
Thanks so much.