Owning property is an excellent investment opportunity. It’s a way to support yourself and your family, it’s also a way to enjoy yourself in different parts of the country. But there’s a difference between owning property and managing property. When you live in the house or on the property you’re probably acting as manager without even knowing it, but if you’re not living on that property you’re probably looking for someone else to take care of the little things. That’s what property management is all about.
When you hire someone else to take care of your property for you while you are away that person becomes your property manager. For those looking at the scope of property management, Fairfax actually has a lot available because they offer a range of options. If you’re going to be coming back to the property frequently and just need someone to check in once in a while that’s fine and you’ll easily be able to find someone who can monitor minor construction or improvements and even landscaping crews (or even find them for you). If you have a property that actually operates a business however, that’s something entirely different.
Running your property and taking care of all the minor details while you’re not there is the point of a property managment company. They can take care of monitoring the schedule to know who is coming in and for what purpose at all times. They can check in periodically to make sure the property is being used properly. They can find renters and answer phones or even carry out repair tasks as needed (when they do not require a professional).
If you didn’t have a property manager then you, as the property owner, would be responsible for all of these things. Like a landlord, you would be responsible for getting up at 2 in the morning to fix a leaky pike or going into the office at 7 at night so the grounds crew can get the equipment that they need. These are things that you, as the property owner, probably don’t want to be responsible for. By hiring a property manager you wouldn’t have to be. You could simply hand over the reins and let someone else do the day-to-day.
One of the biggest concerns that many owners have when it comes to this kind of prospect however, is what happens when major decisions need to be made. There’s no reason to be concerned about this because no matter what needs to be done, you are still the property owner. That means if large decisions need to be made, they will always go through you first. If you decide to you can even be included in the smaller decisions. These are all things that you and your specific property manager or management firm will work out and that’s going to keep you in the loop about everything that happens on your property.
Owning property is a great thing for many people, but managing several different properties at the same time can become a hassle. So make sure you find someone that can take care of the details and will make sure that your property is being taken care of in the best way possible. That way you can enjoy the other things in your life and you’ll still be able to have something for your family, an investment for the future.