Notes

Why Use a Property Manager?
I have talked with many investors that have sold all of their properties and moved their money into other asset classes including stocks or bonds given that they think rental properties are way too big of your headache. The scenario is definitely the identical. They made the decision to invest their funds, they heard rental properties were a nice income makers, they buy a few properties, and then manage them automatically.
Pretty soon they may be burned out of managing tenants. After a number of bad experiences and plenty of phone calls from renters, they decide that accommodation is much too big of the headache and they also become unattainable. I have heard this at least a handful of times and every time I hear this I always ask "Why didn't you let a home management company handle your properties?".
Most of times I get a response of "well it will cost far 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 is a fee to fund what you get.
There is really a difference between a home manager and a property management company. When you hire home manager you're hiring an employee. You will have to pay them a salary and pay payroll taxes in it. When you hire a house management company you're simply outsourcing the management with a company. They are not an "employee" of yours.
In many cases I lean towards hiring a company as an alternative to accepting a staff. If you only own several properties you'll definitely only engage a company since you won't have adequate income to aid a staff member's salary. At some point, if you achieve big enough, it might be beneficial for you to work with a person whether full-time or part-time.
Here's the advantages of hiring a house management company when you initially start purchasing rentals.

A professional property management company knows regulations for landlords and may make sure you might be doing everything legal
A professional property management company knows how to most effectively market your properties to realize a low vacancy rate
They will also know how you can obtain the most rent of an property given that they be aware of market
They will have a network of contractors for the best rates for repairs and maintenance on the properties
You can learn from their wealth of knowledge and experience from coping with rentals
You should manage the properties yourself. Many people do. If that's everything you like and you have some time, there's certainly nothing wrong your. But article forget you can study so much from working with a professional company.
You should get references before picking which company to choose. Also, make sure they have their real estate property license. You also want a company who specializes in your type of property. For example, you won't pick exactly the same company for any commercial property because you would just one family house.
The final point here is if you wish to be an 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!
Homepage: http://www.masonre.com.au/