Updated April 13, 2022
Let's be frank. Managing rental properties by yourself is rough. There are late-night plumbing emergencies and renter grievances. Then, there are delinquent rental payments, difficult renters, and evictions. If that not frustrating enough, you still need to stay up to code on all your properties, schedule inspections, screen applicants, and work on your marketing—that is just on Monday morning!
There is a better way! Here's why it is time to outsource your Philly property management (so you can get some rest!).
Your DIY Efforts Are Barking Up the Wrong Tree
One of the main reasons self-managing your properties is not working is you could be spreading yourself too thin. A property owner might start with one or two properties. As they add more rentals, keeping up with vacancies, finding qualified tenants, conducting maintenance, collecting the rent, and everything required to generate income becomes overwhelming.
There's simply not enough of you to go around! Outsourcing gives you time to enjoy the income from your rentals while an expert manages everything for you. Here's how having more hands on deck helps you experience more from your investments.
Avoid Mistakes
While you might have skills, it's challenging to be an expert with marketing, legal contracts, screening applicants, building codes, and maintenance. Novice investors are at risk of making costly mistakes that an outsourced professional can help you avoid!
From lease agreements to enforcing the rules, you need legal documents that mitigate risks and eliminate loopholes that a professional renter can use to take advantage of you and damage your income. Making the wrong property upgrades and neglecting critical maintenance are also expensive mistakes!
The right Philly property management team protects investors from mistakes that hurt profits.
Save Money (and Time)
DIY maintenance can be more expensive than you think! How many trips do you make to the hardware store to fix common rental property problems? Without the right contractors to conduct routine maintenance and tackle tough repairs, your properties fall into disrepair. If you don't have the skills or tools to fix things correctly, tenants won't stick around.
If you have a full-time job that requires your attention while juggling DIY maintenance responsibilities, you're wasting time and money! Outsource rental property management to a capable property manager in Philly.
It's Time to Hire a Philly Property Management Company
An advantage to outsourcing to a Philly property management company is their experience! Your property manager takes care of everything, from maintenance, marketing, leasing, and screening with the experience you need for success.
Experience the Benefits
Whether it is looking for ways to reduce vacancies or researching market data to maximize your rental prices, your property manager always works hard to improve your return on investment (ROI).
Experience the benefits of working with a property manager, including:
- More time for you! With a property manager working for you, you have time to focus on your full-time job, care for your family, and enjoy your free time doing things you love.
- Ready-made processes. Your property manager isn't starting from scratch when you bring them on board. They also never have to reinvent the wheel when you expand your portfolio with more rentals. A Philly property manager already has expert processes in place to maximize your investments!
- A good night's sleep. No after-hours wake-up calls! Your property manager takes those calls for you.
- Lower operating costs. A property manager handles maintenance issues right the first time and negotiates better rates for quality contractors to maximize operating budgets.
With everything a property manager delivers, certainly, you'll pay for more for those services than you do with DIY solutions, right? With the right property manager in Philly, investors don't have to deal with high fees or confusing pricing structures!
Is a Property Manager Worth the Cost?
While you can outsource with just one property, most property management companies charge too many hidden fees to make this profitable. As you add more rentals to your portfolio, self-managing becomes a nearly impossible approach to taking care of properties, tenants, and your bottom line.
However, confusing pricing structures can keep DIY landlords from choosing a property management solution! What if you select a fixed-rate option while receiving every expert service we mentioned here (and more)? Outsourcing doesn't have to be expensive or confusing.
The Rentwell OneRate™ Difference
Rentwell's OneRate™ plan gives you full transparency to understand the fees for our property management services. You won't find hidden fees or unexpected additional costs when you choose Rentwell!
With our pricing options, investors receive services including leasing, tenant screening, maintenance services, inspections, showing, marketing, and more—all for one simple rate!
Is it time for a property manager? Check out this video for more insights!
Outsource Philly Property Management With Pricing That Makes Sense!
Going solo with your real estate business can be frustrating and quickly lead to burnout. It is also the fastest way to lose money without the experience and experts you need for success. A Philly property management team is the best way to outsource your rental management to avoid mistakes and make more money!
Choose Rentwell's OneRate™ solutions to minimize confusion about what you'll pay for our professional services. We do it all without hidden fees or pricing structures that make it hard to understand how we help!
Download the free OneRate™ Calculator to see how Rentwell’s pricing compares to other Philly property management companies.
