The COVID-19 pandemic changed our lives and the way we do business in seemingly countless ways. It’s still changing them 18 months later. Property management hasn’t been spared when it comes to these changes. Many of them are here to stay. Today we’re looking at changes to property management that are looking to be with us for years to come.
The property management strategy a property investor chooses is arguably the next most important factor (after the location of the property) for the success of their investment. Property management affects not only the performance of a rental but the property investor’s ability to grow. This piece will highlight the strengths of hiring an outside property management group rather than managing the properties on your own.
Owning a property that generates a steady income is an exciting idea until you run it by yourself. Every property owner who has tried to manage the properties while juggling another occupation knows how difficult it is. You need to consider plenty of things, such as rent payments, routine inspections, and general administrative work. This piece will highlight one of the less understood benefits of using a property management company—paying fewer taxes.
