The job of a landlord may seem quite rewarding to you at first, it’s but comes with its own set of challenges and hardships. It can add to your workload and leave you with a little life of your own. At such a point, seeking the services of a Property Management Portland firm can come as a great help. But with its set of benefits come disadvantages of hiring these firms as well. Let’s take a look at some of the pros and cons of hiring a property management company in Portland.

PROS

One of the major downsides for property owner also working as a property manager is that they don’t get much time for other things, or other jobs. Especially when they own and manage multiple properties, they get little time for other jobs or for rest. Therefore, it pays to have a Property Management Portland firm manage properties for you. You can use all the time to do things that you weren’t able to when you were managing your properties on your own. Just sit at home, enjoy, and make a lot of passive income.

A major advantage of working with a Property Management Portland company is that you get to place genuine and reliable tenants in your properties. Property management firms have knowledge and experience in placing best tenants in the properties of clients. They conduct proper background, employment, and credit score checks make sure that tenants are trustworthy and will be able to take care of properties. Their selection criterion is based on personal interview of the tenant. Moreover, the property managers talk to previous landlords of tenants to know about their experience.

There can be literally lots of tasks related to Property Management Portland. Like roofs can leak, tenants can run away in the middle of the night, basements can flood, and a lot of similar problems can arise. It could be tough for you to single-handedly manage everything, but with a property management company by your side, you can surely get rid of all these hassles. Also, you wouldn’t have to limit investing in properties that are located in your area; you can even expand your area and invest in properties in distant areas. You’ll have a management firm handling everything on your behalf.

CONS

As you will give all responsibilities of your properties to the management company, you will lose control over the property. Moreover, if you will choose a bad Property Management Portland firm, it will surely reflect on you.

If you will hire a property management company to manage your properties, you will have to pay it too. Thus, there is definitely a little cut into the profits. And in case yours is an old property which doesn’t generate enough profit, it would be further affected your cash flow.
So, balance both pros and cons of hiring a property management firm and see if it is worth hiring a management firm or not.