Should you hire a property manager or do it yourself?
At what point should you hire a property manager? After purchasing one or two investment properties in Houston, there will come a time when you ask yourself these questions. While many hands-on investors manage their Houston rental properties on their own, some choose to hire a property manager to handle all the work that goes in to maintaining their property – finding the right tenants, signing the lease, paying bills, collecting rent, marketing properties, and completing a move-out inspection to name a few.
If you are seeking guidance in the upkeep of your property so it is well maintained, financially stable and administratively accurate, a property management can help. And if you are considering hiring a property management in Houston, use this short guide to decide if hiring a property manager is right for you because having a property management is almost as important as the investment property you purchased.
What does a property manager do?
Property managers are responsible for some basic tasks or the entire operations at the property according to the guidance given by the owner. Essentially, they are hired to save the property owner’s time and ease the stress that can come with landlording or self-managing your Houston property. A property manager handles the day-to-day details; take the hassle out of everything and all the details in between. While their exact responsibilities vary based on the type of property being managed, or the terms of the management contract, property managers provide the following various services to Houston property owners. You can hire a property manager to do one or more of these main responsibilities.
Specific tasks and Key roles of a Property Manager
- Market and advertise the property for rent.
- Determine the most profitable and competitive rent to charge.
- Screen tenant applicants comprehensively.
- Prepare a tenancy agreement.
- Protect you from lawsuits.
- Provide important tax filing documents.
- Manage financial accounts for the investment property and provide regular reports
- Collect rent and manage property payments
- Carry out routine inspections and / or handle emergency repairs.
- Issue termination notices to difficult tenants
How to find the right Property Manager
Depending on your needs and signed agreement, property managers can handle everything that occurs daily in your rental property. They should have a good understanding of the local market and must have an in-depth familiarity of the state and national laws to screen tenants, conduct evictions and comply with property safety standards. For these reasons, property management companies in Houston require their property managers to have a real estate broker’s license. Under the existing Texas real estate licensing laws, the primary functions of a property management in Houston, such as leasing, renting and collecting rent on behalf of others, are considered real estate activities. So before hiring a property manager to manage your Houston property, always check that he or she is licensed appropriately and contact several of the company’s current clients for feedback.
Property management can be stressful, tenants can be difficult, and landlord-tenant laws are complicated. Having a property manager handling problems for you gives you peace of mind. Whatever reason you decide to use a property management company in Houston, do research to find a company with the experience and reputation to provide the right service for you and is in line with your needs. Like most professionals, not all property managers are created equal and outsourcing property management is not for everyone. The right manager should make your life easier, not harder because the decision to hire one is just as important as buying a property and the first step in a process that can make or break your investment.
Working with Apogee Properties
Apogee Properties is Houston’s leading real estate management company. We work and live in Houston and our property managers are local. We’ve been in business for more than a decade providing comprehensive property management services in the Houston region ranging from a studio condo to a multi-family million dollar estate.
Apogee looks forward to hearing from you and sharing what we can offer to your Houston property. Contact us today to learn more!
