When to Hire a Property Manager

3 Replies

I'm planning on purchasing a rental property in the near-ish future and will most likely want to hire a property manager to take care it. Since A.) I don't have any landlord experience and B.) It will not be convenient for me to manage it myself my work schedule and lack of car. My question is when should I look for a property manager? Will they be interested in talking with me even before I have a property to manage? what is the usual process here?

Thanks!

Hi Matt

As a property manager I would say yes start reaching out to property managers and get information about what services that's included and their monthly fee.Some property managers even conduct sales like myself and would guide you with your investment purchase.Best of luck!

I agree with @Armindo Gonzalez Jr . Go ahead and reach out, mostly because a lot of PMs can sell you properties too and if you can land one of them to be your agent, you're already ahead of the game because they likely have more investor experience than your typical agent. But also, you can ask their opinions on the best areas to own rentals in. Rentability is a huge factor, and they are the best people to speak to that. Absolutely offer to pay them for their time (they may not always make you pay them, but at least offer) since you aren't a current client. But it'd be great to develop a relationship with a good one and have him with you through the whole process.

100% reach out first, a GOOD property manager is going to be interested in your property (or soon to be property). They will be able to give you valuable feedback which can help... but they'll also tell you their criteria for managing a property. They could also help you find one... which is bonus.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.