Your Specialized Team knows that it’s easy to make the mistake of self-managing your rental property at the offset. We’ve seen it time and time again. Landlords think they’ll save money by managing their property themselves, but they actually end up losing both their free time and more funds than they thought. As one of the Dallas property management firms with years of experience in the industry, we are here to tell you why you should not self-manage your property.
1. Unless You Have the Experience and Qualifications Already, Don’t Do It
Just like you wouldn’t hire someone for a job without the proper experience, don’t manage a property yourself unless you are qualified or have worked for a property management company. Dallas landlords need to know the same goes for your friend or relative. If you live out of state and trust your rental to Uncle Joe who has no experience with property management, you’ll be sorry you did. You don’t want to deal with code violations, fines, and legal trouble.
2. What’s Required to Manage a Property?
- Know the necessary education and licensing requirements
- Be familiar with trust accounting
- Know the applicable regulations and codes
- Knowledge of proper rent collection
- An effective process for avoiding vacancies
- Familiarity with rental marketing in your area
- Excellent customer service and 24/7 availability for your tenants
- Cost-effective maintenance resources
- A system for late rent collection and evictions
- And SO MUCH MORE!
3. Figure Out if it’s Worth Your Time to Self-Manage
Are you already working a full time job? Do you have any hobbies? Interests? How about a family? You need to realize that managing a home will only take away from the little free time you have if you already work full time. Experienced Dallas property management firms will tell you that competent and professional management requires continual attention and around-the-
At Specialized Property Management, we’re the property management company Dallas do-it-yourself landlords rely on. These rental property owners will be glad to tell you that their investments performed better once they decided to put us to the test. We promise to get you a better return on your rental and help you avoid costly mistakes. Give us a call today to put us to work for you!