Running a successful rental business is hard work. While people might like to imagine renting to be an easy way to earn passive income, the reality requires a lot of long hours and sweat equity. Of course, taking a DIY approach to landlording isn't the only option. Many remote landlords are choosing to hire trusted property managers to be their eyes and ears on the ground. Scott Safadi of Cal Bay Property Management recommends this approach for anyone too busy to handle the daily operations of a rental property.
By partnering with a property management company with a track record for success, you'll outsource all of the not-so-fun parts of landlordship. A property manager can vet applicants, fill vacancies, and manage the maintenance requests of tenants. When a phone call comes in at 2 AM, it'll be the property manager who answers, not you! This peace of mind can't be undervalued.
Of course, property management companies give you the freedom to be as hands-on -- or off -- as you'd like to be. If you prefer to handle the leasing details yourself and allow the property manager to simply be the first line of defense against late night calls, you're always welcome to take the lead. Flexibility is key with any professional partnership, and property management is no different.
Outsourcing maintenance woes is one of the prime benefits of working as a remote landlord. Rather than pay expensive prices for the only plumber available on short notice, property managers forge long-term relationships with maintenance professionals they've thoroughly vetted. Repairs can be handled efficiently and affordably when you've got a property manager on duty!
-- Scott Safadi, Cal Bay Property Manager
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