Investing in Bellevue property is a great way to add to your income, or turn your passion for real estate into a full time job, but when is it time to stop handling matters yourself and turn everything over to a professional? While many landlords can handle the work on their own, or with the help of an assistant, sometimes it is a good idea to upgrade to a professional Bellevue property management company. The following include just a few of the reasons that you might be ready to move on to professional help.
You Own Several Bellevue Properties
Managing one to five properties is not usually an issue unless you have very little time, but the more units you own, the more important it is for you to hire a professional. The more units you have, the more you will benefit from having professional accounting, professional advertising, and professional management for those units.
Your Properties are in More Areas than Bellevue
If you have to travel to get between your properties then you might be investing too much time in your properties. Owning properties in nearby cities such as Kirkland and Bellevue might not seem difficult, but you won’t be able to keep an eye on, or offer the best of your time, to properties that are spread out across the Puget Sound area.
How Is Your Real Estate Law?
If you know a great deal about Bellevue and Washington real estate and landlord tenant law then you’re probably doing things right, but unfortunately, most of it is not common knowledge. You can choose to take a course or study real estate law, or choose to hire a manager who already knows a great deal about the laws and regulations.
You’re Spending Too Much Time or Money on Repairs and Maintenance
If maintenance is too costly in terms of time or money, then a property manager is the solution. Property managers are usually able to get discounts on maintenance and repairs, so that you can save money. If not a discount, then any good property management company will have a relationship with repair companies who offer great rates. You also save on time because you won’t have to handle anything.
You’re Not Good with People
If you aren’t good at talking to people, getting them to respect you, or handling the day to day details of maintenance calls, calling to remind people to pay the rent, or collecting rent, then property management is not for you. A professional Bellevue property manager will be able to hand all of the day to day tenant interaction for you so that you don’t have to worry about it.
You Don’t Have the Time To Do It Yourself
Managing your own property is a great way to make sure that you keep every cent of profit that your property makes, but the truth is that you might not have the time. With more properties, or a full time job, time is a luxury, and if you don’t have the to manage everything then you won’t be enjoying your profit either. Hiring a professional property management company ensures that you get as much return as possible, without having to invest your valuable time as well as your money.