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Professional Property Management vs. Self-Management

System - Friday, August 10, 2018

There are many reasons why a landlord should consider hiring a professional property management company vs. trying to self-manage.  If you are in the Fort Lauderdale area, at Mayfair Property Management, LLC we specialize in the management of single-family and multifamily investment portfolios.  We are here in South Florida to help you with marketing, tenant screening, rent collection, maintenance, financial reporting, repositioning, and more.

Hiring a professional property management company is much more cost effective than attempting to self-manage rental properties.  Many investors forget to think about all the liability risk and the amount of time and expertise that are required to manage properties.  When you take all these factors into consideration, hiring a professional property management company like Mayfair is undoubtedly the best way to go for peace of mind, protection, and high-quality service.

Let’s begin by talking about a major advantage to hiring a professional property management company, convenience.  Many investors lead very busy lives and have lots of assets that they need to spend their time and energy on.  Besides full-time jobs, many investors have families and other personal responsibilities that need to be prioritized in their everyday lives.  When you hire a professional property management company, you save a lot of time and hassle which opens up your schedule to devote to other ventures.  

It is important to bear in mind that property management is a full-time job.  Self-management of properties can be very challenging and overwhelming if someone does not have the time, experience, and resources to devote to it.

Another significant factor to consider when we are thinking about the advantages of hiring a property management company is peace of mind.  You do not want to be the one chasing down your tenants for late rent or getting called to respond to maintenance emergencies in the middle of the night.  Many landlords have to spend a lot of their time worrying and stressing about their tenants and their properties.

Fort Lauderdale residents know that you would not want to be getting called to fix a tenant’s AC in the middle of the hottest night of August.  Why be melting when you can be sleeping?  At Mayfair, we are here to help you!  

There is no need to be stressing out over a security deposit, maintenance emergency, or lease agreement with a professional property management team by your side.  You will have peace of mind knowing that your only responsibility is to be earning the monthly rent income.

If you are going to decide to manage your own property, it would be best to be extremely well-versed in all the laws pertaining to rental property in Fort Lauderdale and the entire state of Florida.  This brings us to another area where hiring a professional property management