Why Do I Need Property Management Services?

MMJ Real Estate
Why Do I Need Property Management Services?

If you are an investment property owner, you're faced with two choices - you can choose to take care of tenant selection, tenant management and everything that comes with it yourself. Or you can outsource your property management to a real estate agent. But why should you do that? Let’s take a look...

The first choice - taking care of your investment property management yourself - sounds appealing initially. Sure, cutting out the middleman means you don’t have to hand over a cut of your income. More money in your pocket. Too easy….right?

But do you have free time to be responsible for property management duties? Do you have a grasp of the current laws which govern property management? And how confident do you feel about your ability to handle things if it all goes pear shaped?

These are just some of the the factors you need to consider when making a decision about property management. What else might you be required to do if you were acting as a property manager?

  • Taking care of any repairs and maintenance reported by a tenant. Even if it occurs in the middle of the night - would you rather be tucked up in bed asleep or making calls to organise repairs?!
  • Chasing up unpaid rent - awkward!
  • Providing the correct forms and documentation at the start, middle and end of the rental agreement and ensuring they have been filled out correctly - important, no room for error!
  • Tenant eviction and representation in court if things do go pear shaped - are you up to the task?

So when you take these factors into consideration, you can see the value in outsourcing your property management to a professional such as MMJ Real Estate. Property management fees are usually around 7-10% of the monthly income (depending if your property is residential or commercial) which is a small price to pay for peace of mind.

If you would like to discuss how MMJ Real Estate can help you with your property management needs, just drop us a line. We’d love to hear from you!

Alternatively, read more about MMJ Real Estate’s property management and real estate services.