The Shocking Real Estate Blunders Entrepreneurs Swear They’ll Never Repeat—But Always Do
However, many people find that property management is a much bigger job than they anticipated. Tenants and buildings can have issues 24/7. Water pipes burst. Termites eat wood. Fires break out. Burglaries happen. Inspectors need to do their jobs. Regulations and codes need to be followed. Tenants need to be talked to. Properties need to be maintained. They need to be marketed.
The end result is that it might be ultimately cheaper and easier to hire a property manager.
To avoid finding out that you need much more time and expertise to manage the property, have a discussion either with the current owners or owners of similar properties. Find out their estimate for property management tasks, and solicit their advice.
