At what point and how many rental properties does it begin making sense to hire a property Management company?
Hi, there! Joe White here from Grow Property Management, your trusted property management company in Philadelphia. In response to Dorinda's inquiry about the benefits of using a property management company versus self-management, I confidently assert that, yes, property management companies are indeed superior. Acknowledging my vested interest as the owner of such a company, I reassure listeners that my advice is grounded in accurate information, regardless of my bias.
Engaging in household chores like folding laundry while speaking, I explain the value of property management companies through real-life examples. I recount a frustrating experience with a roofing company, where despite being top-reviewed, they refused to perform small repairs, only opting for complete replacements. As a property management company, I've encountered similar situations and have the expertise to navigate them effectively.
Highlighting the discrepancy between what a homeowner might be told versus the reality of the situation, I emphasize the importance of volume and experience in discerning the best solutions. While individual homeowners may fall prey to costly repairs or replacements unnecessarily, property management companies possess the knowledge and resources to advocate for their clients and ensure cost-effective solutions.
Drawing from specific instances, such as appliance repair, I demonstrate how the sheer volume of work allows property management companies to identify trends and discrepancies in service providers' practices. By comparing outcomes across multiple vendors, we can pinpoint inefficiencies or biases, ultimately saving landlords time and money.
Despite my admitted bias towards Grow Property Management, I maintain that providing accurate advice is paramount. While I advocate for property management services, I do so based on the tangible benefits they offer, rather than mere self-promotion.
I hope that this explanation sheds light on the value of property management companies. As always, I wish all listeners success in their rental property investments, reaffirming my commitment to providing trustworthy guidance through my podcast.
