Sometimes, landlords, property owners, or homeowner associations (HOAs) decide they want to save a few bucks and do all the phoenix property management on their own. That can be fine in some situations, particularly for smaller buildings where the landlord or board has an abundance of free time. But there are always a lot of bases to cover.
When you hire a professional phoenix management company, we bring a tremendous
amount of knowledge, experience, and manpower to help you stay current with all
the various aspects of management… whether it’s legal compliance or city
government issues, day-to-day maintenance issues and utilities work, and even
keeping an eye on the books – helping you recover costs and reduce your
expenses.
On a daily basis,
we’re in touch with all of these different areas of management. Unless managing
properties is all you’re doing all day long, you’re almost always better off
hiring a professional team to handle the management for you. If you’re not
doing this full time, then there’s a good chance that you WILL miss something,
and that WILL end up costing you a lot of money.
This is a common
problem we see with homeowner associations. It seems easy enough… you simply
have to collect the dues, pay the bills, attend your board meetings, and that’s
it. What could go wrong? But it doesn’t take long before you find out you’re in
for a lot more headaches than you bargained for. A lot of DIY boards don’t know
that they aren’t following the latest laws and ordinances (like the Davis Sterling Act and other laws that govern the management of homeowners
associations). It’s not a problem… until it is a problem.
Here’s an example. A
DIY landlord or a homeowners association might have Bob the Gardener taking
care of all the landscaping at the property. Bob is probably a great guy, and
maybe he’s worked for you for 10 years. But he’s not licensed. And you’re
concerned that a professional management company will tell you to get rid of
Bob and hire a licensed and insured contractor, or they’ll want you to make Bob
an employee so everything is done correctly.
If you’d rather not do that, you’ll stick to managing the
property on your own. But then one day, Bob gets fired or stops working and
decides to file a workers’ compensation claim or a wage and hour lawsuit. When
this happens, the DIY landlords and property managers wish they had a property
management company guiding them and helping them to avoid these landmines.
Doing property management on your own is a not a bad thing, but
we often hear from former DIY folks who have long grown weary of doing all the
work themselves. And we often see rookie mistakes that could have been avoided.
If you’d like to talk more about the benefits of professional property
management – about how we can help save you time, energy, and money with the
management of your property – please contact us at
RPMWV Phx.
RPMWV Phx has been offering full service Phoenix Real Estate & Phoenix Property Management services for over 20 years so let our experience assist you with your Phoenix rental needs.
No comments:
Post a Comment