Owning investment property can be a great way to accomplish your financial goals, but it takes a lot of work to manage your investment well. Here are ten reasons why you should consider hiring a property management company to help manage your investment.

1. Finding the Right Tenants

Experienced property managers are experts at finding good tenants, and will take care of all the details, including the securing all criminal background and security checks, running credit reports, verifying employment, and collecting previous landlord references.

2. Understanding of Property Management Laws

There is a multitude of applicable laws and regulations to abide by when renting and maintaining your rental property. These include local, state and federal regulations, as well as fair housing regulations (such as the ADA). A property manager can help you avoid lawsuits by keeping your property up-to-date and in compliance with these regulations as well as up-to-date rental agreements.

3. They Help You Get Rid of Maintenance Headaches 

A property management company, provides an online maintenance portal system and a long list of approved vendors, to assist in the event of maintenance needs. All of this alleviating stress and giving back precious time to you. 

4. Marketing and Advertising Your Property

Through experience, a property manager will know exactly where to market your property and how to craft compelling advertising materials---a significant advantage when it comes to filling your properties quickly and avoiding long vacancies.

5. Access to Professional Software and Online Portals 

Property management companies have efficient, tried-and-true systems in place to effectively collect rent and maintain on-time payments.

6. Manage Tenants

In addition to finding good tenants, a property management company will manage all aspects of the tenant-landlord relationship. The property manager will handle both routine and emergency maintenance, take care of routine inspections, and manage any situations where conflict resolution is required.

7. Handling Evictions

If you have to walk through the eviction process, a property management company (with an attorney at their disposal), will guide you through the legalities and red tape within Oregon Landlord/Tenant laws.

8. Saves You Time

We all know the popular phrase “time is money.” Your time should be spent investing in other properties, with family or freeing up your schedule to do the things that you enjoy. By hiring a property management company to spend the time marketing, handling calls, scheduling maintenance you will be keeping your cost to a minimum because you save time! 

9. Financial Freedom

Property management is a full-time job and it is crucial to routinely monitor your operational cost. Hiring a property management company can help you set accurate market rates and ensure you’re not leaving money on the table with incorrect pricing strategies.

10. Access to a Team of Trusted Professionals

Maybe the most important reason to hire a property management company is that you will have access to a team of trusted professionals who know the industry. You can have peace of mind that your property is going to be managed well, and all of the stress won't rest directly on you!