The desire to self-manage your rental property is admirable. You want to cut costs and be an independent, do-it-yourself hero who doesn’t need a Dallas property management company. Before you make a move, however, consider one missing piece from this picture: the opportunity cost of your decision. What are you giving up if you self-manage? It may surprise you.
1. Your Time
Unless overseeing your rental property is your full-time job, then it’s likely you’ll have to put a lot of late-night and weekend hours to do it right. What is your time worth? Multiply that amount by the number of hours it will take you to adequately find, screen, and lease to tenants. Add time for property maintenance and emergency responses. Lastly, rent collection, accounting, and legal compliance will need continuous attention as things change. If your time is worth more than what you would pay a Dallas property management company per hour, it’s more cost-effective to hire a professional.
2. Your Money
You will save money working with the right property management company. Dallas rental owners cut costs with Specialized Property Management in several ways. First, we offer group discounts on parts and labor. Secondly, we prevent dozens of common compliance mistakes that could cost you thousands in legal fees. Lastly, our proven processes ensure more reliable tenants, shorter vacancies, and streamlined rent collections with auto-reminders and late fee enforcement— keeping the money coming into your account.
3. Your Property Value
We perform routine inspections and regular expert maintenance to ensure contract compliance and prevent issues that may cost you more to repair later. We also operate a 24/7 tenant hotline and respond to emergencies around the clock. When your property is maintained, so is your property value. You will be ready to rent or sell at any time.
An opportunity cost is all about what you give up when one alternative is chosen. If you choose do-it-yourself management, you lose the benefits of saving time, making more money, and protecting your property investment as well as you could with our help. These are the specialties of Specialized Property Management, your professional property management company. Dallas homeowners who see the whole picture also clearly see why they need Specialized Property Management.
We are the missing piece of your rental property picture. Call us today for a free property assessment!