The number one reason investors sell their multi-family properties is because they become burnt out landlords.

And quite frankly, the best way to avoid this is to hire a property manager.

Regardless of what the rationale is to self-managing properties, the reality is there are very few benefits. Especially if you are serious about growing your real estate portfolio, then being a landlord is simply not an option.

Your job is to find and close deals, manage the property manager and report progress back to investors. Any time away these three activities is wasted capital.

With that being said, here are the top four reasons you should hire a property manager to run your property!

No more tenant headaches: This is numero uno when it comes to the benefits of hiring a PM. Let’s be honest a tenant never calls you to tell you how good of a job you’re doing, it’s only to complain about an issue. It doesn’t matter if you run your property as tight as a ship, you are undoubtedly going to get a steady stream of tenant headaches thrown your way. Imagine all of the phone calls, all of the complaints and all of the tenant problems suddenly fading away into the abyss never to be heard from again. Doesn’t that sound nice? No more tenant phone calls alone is enough of a reason to hire a PM.

No more self-maintenance: No more screwing in light bulbs and no more plunging toilets. One of the best parts of having a PM is that they have their own contractors and their own maintenance crews in place to take care of all your repairs and upkeep. They have proven professionals that know what they’re doing and can not only get the job done in a timely manner but correctly and up to code as well. A call comes in to the PM, the job gets done and you pay the bill, it’s that simple.

You get more time: What’s more important than money? Time. The worst part about being an LL is that requires so much of your time. Repairs, tenant calls, evictions etc. The list goes on and on. Putting a PM in place allows the property to run more systematically like a business and frees up more of your time to do the things you want to do like being with loved ones and investing in more properties. You can’t focus on the thing that are really important to you if you’re spending all day tending to your property.

They are the experts: Last but not least is the fact that PM’s are great at what they do [they SHOULD be anyway]. You get to leverage all of their experience and expertise. Let’s face it just because you own a property doesn’t mean you have a long history of managing the property. They have all of the tools you need so you don’t have to spend years learning every facet of property management. Need a vacancy filled? They can do the marketing. Need a quarterly report showing P&L’s and rent rolls? They have the software to quickly retrieve it. This is what they do, they manage properties and that’s where all of their experience lie. You don’t have to become the expert if you hire the experts.

A lot of people might say it costs more money to hire a PM and yes that’s true. But we all know you make your money going into the deal on the front end, so that’s all the more motivation to search for even better deals on properties where you can build in your PM fees and enjoy all of the benefits above and still turn your profits.

So find out who the best local property managers are that specialize in your type of property and have a history of success. It will be the best money you ever spend.