Hiring a Property Management Company – Pros and Cons

Owning rental property can be a lot of fun, but it can also be a lot of work. While many landlords have really amazing experiences, there are just as many who do not. By hiring a property management company, you can take the worries and time-consuming tasks that come with managing a rental property and pass them along to a professional. Before you make a move towards hiring a professional rental management company, take stock of your property and decide whether or not the costs will be worthwhile.

The Pros of Hiring a Property Management Company

They Can Find Tenants for You
A professional management company can handle the marketing for you and your property, placing ads and screening calls from prospective tenants. When someone responds that fits the qualifications you have given the property management service, the company will call you!

They Can Act as Your Liaison
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Pros and Cons of Owning Various Commercial Property Types

Looking to invest in commercial real estate, but don't know which property type to consider? Here's a comprehensive guide on the five most common types of commercial properties.

1) Multifamily (Apartment Buildings) – Multifamily refers to apartment buildings of all sizes. It is categorized into garden apartments, walk-up apartments, mid-rise apartments, high-rise apartments, and special-purpose housing.

Garden apartments are low-rise apartments with typically less than 3 stories, built in a garden-like setting. Walk-up apartments are 4-6 story apartments without an elevator. Mid-rise apartments are 4-8 story apartments with an elevator. High-rise are 9+ stories with at least one elevator. Special-purpose housing is a multifamily property that targets a population segment, which includes student housing, senior housing, subsidized housing, etc.

Pros of Multifamily Properties:

• Easy to get into with smaller properties and slowly transition to larger properties

• Tax benefits

• Use rents in place for financing

Cons of Multifamily … Read More