Owning rental property can be profitable, but managing it yourself isn't always the best choice. Here's when hiring a property management company makes sense.

6 Signs You Need Professional Property Management

1. Your Property is Far Away

If you don't live near your rental property, you need someone local who can:Handle emergencies quicklyCheck on the property regularlyKnow reliable contractors in the areaMeet with tenants face-to-face when needed

2. You Don't Want the Hassle

Managing rental property involves lots of tasks:Collecting rent every monthFinding and screening tenantsHandling maintenance and repairsDealing with tenant complaintsFollowing landlord lawsIf this sounds overwhelming, hire a professional.

3. You Want to Stay Out of Tenant Drama

Many landlords prefer to avoid direct contact with tenants. A property manager handles:Difficult conversations about late rentComplaints and disputesMove-in and move-out inspectionsEvictions if necessary

4. You're Too Busy

If you have a full-time job or other commitments, property management takes time you might not have. Professional managers work while you focus on other things.

5. You Can Afford the Cost

Property management typically costs 8-12% of your monthly rent. Many owners find this worthwhile because:It saves time and stressProfessionals often get higher rentsProperties stay rented longerYou avoid costly mistakes

6. You Own Multiple Properties

The more rental properties you own, the more sense professional management makes. It's much easier to have one company handle everything than juggle multiple tenants yourself.

What Good Property Managers Do

A quality property management company will:

Find and screen good tenantsCollect rent and handle late paymentsCoordinate all maintenance and repairsConduct regular property inspectionsHandle legal issues and evictionsProvide monthly financial reports

How to Choose the Right Company

Look for a property manager who:Knows your local rental marketHas good reviews from other landlordsOffers clear, fair pricingUses modern technology for communicationHas proper licenses and insurance offering

The Bottom Line

Hire a property management company if you value your time, want less stress, or lack experience with rental properties. While it costs money, good management often pays for itself through higher rents, fewer vacancies, and avoiding expensive mistakes.

Ready to learn more?
Contact Summit today for a free consultation to see if professional property management is right for your rental property.