What Is The Maximum Number Of Self-Manageable Rentals That You Can Handle?
Are you thinking about adding more rentals to your portfolio of investment properties? If so, one of the questions that you may be asking yourself is ‘what is the maximum number of rental properties that I can manage myself?”
Sadly, this is a question that many investors ask themselves because, in the real estate investment world, there are some investors out there who feel that landlords should focus on managing their rental properties themselves rather than hiring a property manager.
Instead of attempting to manage their rental properties themselves, the goal of every landlord should be to hire a property manager immediately.
Property management will save a landlord the time, money, and hassle of having to manage their rental properties themselves so they can focus on growing their portfolio of investment properties.
Why You Shouldn’t Manage Your Rentals Yourself
It doesn’t matter if you own six units, or 60 units in the Portland area, one important thing that you have to remember as a landlord and investor is that time is money.
If you’re spending more than four hours per month managing your rental properties, those properties stop becoming assets that produce passive income, and they turn into a second or third job.
Instead of letting yourself become overburdened with self-management, your goal should be to hire a property management company immediately so that you can let them take over the day-to-day operations of managing your rental properties and free up your time to focus on other things.
Budget For Property Management
In today’s world, the average property management company charges between 8% and 12% of the monthly rent. This means that depending upon where your rental property is located in Portland, you could pay upwards of $150 or more per month to a property management company.
Ask yourself this, is paying a property management company between 8 and 12% of the monthly rent worth it? Your answer to this question should be yes because anytime that you can outsource anything related to managing rental properties, it’s going to save you the hassle of having to do those tasks yourself.
Focus On Quality, Not Quantity
Another important reason to consider before hiring a property manager is quality, not quantity. This is important because many investors make the mistake of thinking that they can easily do everything themselves.
When it comes to all the day-to-day aspects of Property Management, it’s very easy for an investor to fall behind on the tasks involved with managing a rental property.
Instead of focusing on the quantity of the rental properties that they can self-manage, investors should be focusing on providing their tenants with quality property management services.
The only real way that an investor can ensure that their tenants are receiving quality service is by hiring a professional property management company like Rent Portland Home – Professionals
Our team offers elevated property management services that will save you the time and hassle of having to manage your investment properties yourself.
Some of the wide variety of services that we can offer you for your rentals including: rent collection, maintenance, customer service, accounting, property marketing and so much more!
With our property management team serving you, you can also have confidence that you can live in Portland Oregon, or anywhere in the United States knowing that your rental properties are being managed by professionals
We are going to provide you with excellent service and you can have peace of mind in knowing that you can easily stay up-to-date with what’s happening with your rental property thanks to our convenient management portal.
Contact Rent Portland Homes – Professionals
For more property management tips, or to speak with us about the property management services that we can offer you, for your rentals, contact us today by calling (503) 447-7735 or click here.