What are the pros & cons of hiring a Property Management Company?

October 14, 2024

We know that it is a hard to decision to trust someone else with your home and we want you to have all of the facts before making that decision. Check out our list below with some of the most important things you will want to take into account when deciding if you want to hire a property management company.

PROS
- Rent collection is done for you. No action is needed on your end and your rental income can be automatically deposited into your bank account every month. 

- Maintenance items are handled. This tends to be the biggest aggravation for landlords. Instead of you having to deal with a renter who submits daily maintenance requests or getting that call in the middle of the night because the heat has stopped working, it will go straight to your property manager. 

- A property management company should help preserve or increase the value of your home by monitoring the state of the house and making recommendations for updates and maintenance. 

- There are many laws to follow when it comes to renting out a home and a lot of responsibility lies with the owner. A property manager will make sure that you are legally compliant, and things are done properly. 

- As professionals, we usually have a large reach when it comes to finding a tenant that is a great fit for your property. The wider audience we have for marketing, the more options we’ll have for renters. 

CONS
- A portion of the rent collected will go toward paying your property manager each month. Usually this is between 8%-12% of the rent collected, depending on the company and your agreement. This will need to be considered when deciding if you can financially afford to rent out your property. 

- Having someone manage your property for you may make you feel a lack of control. The whole point of having a property management company is to help take over the burden and responsibilities of being a landlord. You can and should be kept in the loop, but the day-to-day decisions and responsibilities will be up to the manager you are trusting with your property. 

- As much as we try to prevent it, sometimes renters don’t treat your property the way we want them to. Renting out your home means that it could get damaged or treated poorly. This is why we work hard to find the best possible renters for your property, screen them thoroughly and do regular inspections. 


Usually you will find that the pros outweigh the cons. However, every situation is different and you will have to make the decision that is best for you. We're happy to answer any questions you have about the process. Contact us at 919-439-4511 or fprentalsnc@gmail.com. We'd love to speak with you!

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