New landlords will often enter the rental property business and think they can manage their own property through a professional company. They will have a lot to say about how things should be done and when things should be done and which tenants should be approved and how rent should be collected. It can be difficult to give up control of the situation and hand it over to someone else. However, it’s important to remember that property managers are hired as professionals to manage your property and get you the most money in rent and long term investment returns.
For an owner who has very little experience, it’s much better to let a company with hundreds of years of combined experience take care of everything; from the day to day operational logistics to the long term projects and planning. A property management company that manages 500 units in a single year basically has 500 years worth of knowledge, skills and talents. Let your Grand Rapids property management company put all that experience to good use on your behalf.
Property owners trying to micromanage the work that hired professionals do will never work. Management companies have their own systems and procedures in place – and they are successful. When you hand the property over, understand that your property manager will take care of it.
A good property manager will set this expectation up front to help an owner adopt a hands-off strategy. Let your property managers do what they do best. If you have any questions about this, or you need help understanding how property management works, please contact us at United Properties of West Michigan.