9 Great Reasons to Hire a Property Management Company

You have invested in your first commercial or residential property. Are you going to manage your own property or hire a property management firm to look after your investment? It largely depends on what your skills and goals amount to.

Look at your goals: do you want to be a real estate investor, or just the owner of the site? As an owner, you will be responsible for collecting rent and repair broken appliances, fixtures, doors, walls and more. Your time will be devoted to the needs of tenants and things start slipping through the cracks. Investors spend valuable time in response to the needs of tenants. On the other hand, if you hire a property manager, the investor could spend more time to find and invest in property to build your business.



The 9 attributes of a good property manager are:

• Management skills concerning work performance, tenant management and property contractors
• Good negotiation skills with contractors including plumbers, contractors and more
• Experience with investment property
• Organization of daily needs such as garbage collection, garden maintenance and repairs
• Good communication skills with tenants, contractors, investors and legal entities
• Accounting skills are required to collect the rents, receipts and expenses
• The data entry skills of daily work,complaints, supplies and needed equipment
• The ability to research in order to find capable contractors and good tenants
• Marketing expertise to minimize periods of vacancy

The day to day details necessary for the proper functioning of a real estate property is best left to a skilled professional with the necessary skills. An experienced property manager tends to satisfy the daily needs of the tenants, maintain records and meet the needs of building maintenance.

A great manager will want to interact with the tenants on friendly and professional terms. They listen and respond to complaints, dealing with rent and necessary repairs so problems get solved quickly and efficiently. The property manager is able to take over the daily management, while the owner can make profits without being personally involved with the residents or tenants.

Essentially, the property manager is there to take care of everything. They will automatically schedule tasks and collect the rent. The details of the property management success is best left to an experienced professional so the investor is free to seek other investment opportunities.

Want to learn more about working with MK Asset Management on your investment properties in Chicago? Just give us a call at 847.634.4772.