Reasons You Shouldn’t Manage Your Investment Property Yourself
After purchasing an investment property, you’re likely looking for ways to maximize your profits. One idea you may have is to manage your property yourself instead of hiring a commercial property manager . This is never a good idea for several reasons. 1. You Have No Experience in Condominium Management Managing an investment property is far more complex than it appears on the surface. You’ll need to deal with repairs and maintenance, collect the rent, and resolve an array of tenant complaints. All this calls for experience and know-how. 2. Managing an Investment Property Is a Job Managing an investment property is at least a part-time job. In fact, if you have more than one unit, it is likely a full-time job. You’ll need to be available at any time to handle problems. If you’d rather not dedicate so much time to condominium management , you’re better off hiring a commercial property manager. 3. It’s Inconvenient Managing your property is particularly problematic i