Notes

Why Use a Property Manager?
I have talked with lots of investors that have sold all of their properties and moved their money into other asset classes like stocks or bonds since they think rental properties are much too big of your headache. The scenario is always the identical. They made the decision to invest their cash, they heard rental properties were big money makers, they obtain a few properties, and then try to manage them on their own.
Pretty soon they may be burned out from coping with tenants. After a couple of bad experiences and lots of messages or calls from renters, they determine that apartment is excessively big of the headache plus they sell. I have heard this no less than a few times and every time I hear this I always ask "Why didn't you let a house management company handle your properties?".
Most of times I get an answer of "well it costs way too much". In truth, most property management companies charge between 8-10% of gross rent collected for residential properties and 3-5% for commercial. This can be a small fee to purchase what you'll get.
There is really a difference between a property manager and a home management company. When you hire a property manager you are hiring a worker. You will have to outlay cash a salary and pay payroll taxes on them. When you hire a home management company you're simply outsourcing the management to a company. Learn More are not an "employee" of yours.
In most cases I lean towards employing a company as an alternative to signing up for an employee. If you only own a couple of properties you'll definitely only hire a company when you won't plenty of income to guide a staff's salary. At some point, if you get adequate, it could be in your best interest to engage a person whether full-time or part-time.
Here's the benefits of hiring a property management company when you start purchasing rentals.

A professional property management company knows the law for landlords and will ensure you are doing everything legal
A professional property management company know the best way to most effectively market your properties to realize a low vacancy rate
They will also know the best way to get the most rent out of your property since they be aware of market
They will have a network of contractors for top level rates for repairs and maintenance in your properties
You can learn off their insightful knowledge and experience from managing rentals
You may decide to manage the properties yourself. Many people do. If that's whatever you like plus you've got some time, there's certainly nothing wrong with that. But don't forget one can learn a lot from working with a professional company.
You would want to get references before picking which company to go with. Also, make sure they've got their real estate property license. You also want a company who specializes in your form of property. For example, you will not pick the same company for any commercial property while you would one particular family home.
The point is in order to be an angel investor or do you wish to be described as a landlord. Personally, I don't want to certainly be a landlord so I use property managers.
Happy investing!
Here's my website: http://www.masonre.com.au/