Travis Cadman: Why Hiring a Property Manager May Make Sense for You

As a landlord in Alberta, Canada, you have a slew of decisions you have to make to keep your properties going strong so that your bottom line stays just as strong. However, the biggest decision you will make is whether to manage all of your properties yourself or to hire a company to manage your properties for you. Although you may be tempted to handle your own business -- literally -- you may find that using a property management company is a much more beneficial option in a number of scenarios, according to Travis Cadman of Investar USA.

Property management companies work directly with your multifamily properties’ current tenants and prospective tenants. This means they collect rent, market your properties, handle repair issues and maintenance, respond to complaints by tenants, and pursue evictions. In other words, they handle all of the details that you personally would rather not focus on yourself as a landlord. And the best part? The company is considered to be a contractor, so you don’t have to go through the hassle of making it an official employee of yours.

Hiring this type of company is a smart move if you fall under one of several categories. First, let’s say that you own many rental units. In this case, it would behoove you to use a management company to effectively keep track of these units. In addition, let’s say that you do not reside near the rental property. Hiring a property manager is almost mandatory for tackling the various issues that you simply cannot handle from far away.

Using a property manager is also appropriate if you simply don’t want to manage your properties yourself. Perhaps your main passion is to simply invest in and own properties, not necessarily manage them. Hiring help is a good way to maintain solid control of your properties without having to be a hands-on manager.