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When Is It Time to Outsource to A Portland Property Manager?

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When Is It Time to Outsource to A Portland Property Manager?

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At some point, every owner must ask the question if it’s time for them to outsource the management of their local rental properties to a Portland property manager.

Some owners may come to this point sooner, rather than later but, every owner needs to take the time to analyze their rental property and ask themselves if they are truly earning passive income from that property or not.

If you’re currently on the fence and undecided if you should hire a property manager, this article will provide you with several ways to know that it’s time to outsource the management of your rental property to a Portland property manager.

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Reason #1 To Hire A Portland Property Manager – You’re Overworked

Let’s face it, the number one reason why investors choose to invest in rental properties is to earn passive income.

Sadly, many investors are not earning passive income from their rental properties because they’re spending too much time and money managing those properties themselves.

If you study blogs like Bigger Pockets, or other rental property investing blogs, you’ll see that some investors advocate DIY property management.

The truth is that if you’re spending more than four hours per month managing your rental property, the income that you earn from that property can no longer be classified as passive income, it can now be defined as ‘active income’.

Owners who spend more than 4 hours per month managing their rental properties have in effect taken on another job, and as with any job, if you’re unable to focus all your attention on the tasks at hand, the quality of the rental property, along with your tenant’s experience while living there will begin to decline.

Tenant calls will go unanswered, maintenance will be delayed, and rent will not be collected on time. If these things are all starting to happen to you, it’s time to change the management of your rental property to a local Portland property manager.

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Reason #2 – You’re Doing Everything Yourself

Let’s face it, as an investor, you may have expertise in certain areas but, those areas of expertise probably don’t include contracting, maintenance, plumbing, or electrical work.

Sadly, many investors think that they can do everything themselves and the quality of their rental properties will begin to decline because most DIY investors cut corners on maintenance or make decisions that ultimately are very costly.

Thankfully, once you hire a property manager, like Rent Portland Homes – Professionals, you can have peace of mind knowing that your rental property will be professionally managed by a property management team.

Our property management team includes maintenance professionals that will handle all aspects of maintenance at your rental property so that you won’t have to do any maintenance or repairs on your property yourself.

Passive income is money earned from an enterprise with little or no ongoing effort. Residual income is not exactly a type of income but a calculation determining how much discretionary money an individual or entity can spend after paying their bills and meeting their financial obligations.Investopedia

Reason #3 – You’re Not Collecting Rent on Time

Another excellent reason to outsource the management of your rental property to a Portland property manager is when you’re unable to collect rent on time.

The rent from your rental property is the income that you’re going to use to pay your mortgage for the property along with your insurance and other expenses.

If your tenant is not paying rent on time, and you’re not able to collect it efficiently, this is going to strain your finances and make owning a rental property very stressful.

Thankfully, when you hire a property manager, you can have peace of mind knowing that the rent from your property will be collected on time and deposited into your account like clockwork each month.

You will no longer have to concern yourself with having to call tenants who are late paying their rent, listening to their excuses, and working out days and times when you can expect them to pay.

Our property management team will ensure that your tenants pay their rent on time each month so that you can focus on collecting those payments, instead of wondering when you’re going to be paid.  

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Reason #4 – You Want to Scale Up, But You Don’t Have the Time

Last of all, but most important, another excellent reason to hire a property manager to professionally manage your Portland rental property is that you want to scale up and invest in more rental properties, but you just don’t have the time to manage them yourself.

Understanding when you don’t have enough time in the day to do everything on your own is important because this is when you should make the effort to outsource the management of your investment properties to a local property management team who specializes in Property Management.

Once you hire a property manager, you can focus on scaling up your portfolio of investment properties with confidence knowing that your property management team will handle all day-to-day operations at that rental property so that you can focus on investing in the next property.

Besides serving local owners, our team also works with investors from all over Oregon, Washington, and the United States so regardless of if you live in the Portland area or not, you can still invest in rental properties in Portland knowing that our property management team will be your trusted partner to manage your properties for you in the PDX area.

Contact Rent Portland Homes – Professionals

Owned by Fred Marlowe SR, our team has decades of experience managing rental properties in Portland Oregon.

You can have confidence and peace of mind knowing that your rentals will be managed professionally by a qualified team of experts who can offer you every service that you’re going to need from rent collection, maintenance, customer service, accounting and so much more.

Besides offering the property management services that you need, our team is also on top of changes to the latest changes to the rental market, including the latest laws affecting your business.

To learn more about the property management services that we can offer you calls us at (503) 447-7735, or click here.