One of the biggest decisions you'll make as a landlord is whether or not you should hire a property management company.
Management companies deal directly with prospects and tenants, saving you time and worry over marketing your rentals, collecting rent, handling maintenance and repair issues, responding to tenant phone calls and complaints, and even pursuing evictions.
This can be especially important when dealing with a vacation property.
Many vacation properties serve as an investment property for owners who live physically far from their rental property and use it only periodically. Using an effective management company should relieve you from worrying about your investment property. A good property management team will help you find tenants. Unlike a distant owner, your property manager is available to show your property 7 days a week and return all phone calls promptly for you. They will also help you choose an effective lease or tenant agreement and even collect rent on time.
For property owners who are far from their investments, a full service property management group can be essential to keeping their investment secure as they can be your local “eyes on the ground”
Since there are so many different types of property management companies, it is very important that you find a property manager that specializes in your investment area. For instance, if you are investing in vacation property, you should be sure to look for a firm that specializes in this area. If you own multiple residential properties, your manager should have expertise in that area.
A vacation home or investment home owner should research and be sure to use a qualified property manager