Updated September 30, 2022.
That moment when rental property owners realize they are in over their heads on an investment isn't a pleasant one. It rarely happens slowly—but rather, is a function of a few obligations all smashing into you at the same time.
Be it the demands of your kiddo's sports pursuits, the expectations of your day job, or the work of keeping your property well-maintained and it's residents happy, when all of these obligations combine their powers, they don't form Captain Planet—they form a ball of stress (usually right where your lymph nodes are).
Without Philly property management to lighten the load, this excess stress can then merge with broken promises to create a state of mind that makes you question whether you still even want to be involved in real estate. Putting that drama aside, many property owners manage their residential and commercial properties themselves without such a 'perfect storm' ever occurring—so it can be tough to know when you really need additional help.
Luckily, here at Rentwell, we see successful transitions from solo management to full-service property management daily! That makes it easy for us to vouch for some of the reasons that people make the leap and hire us to tackle their task list. Here are just a few of the reasons to say 'Yes!' to professional property management services.
When Your Rental Home Is in a Galaxy Far, Far Away
Alright, maybe not an entire galaxy—we're the best at what we do, but even we can't manage properties 25,000 light-years from Philly. Still, it may have been easier managing a rental property from the next block over—but what happens when life offers you the opportunity to move a couple of states away?
Many property owners find a pressing need for property management services when they are no longer close by to handle in-person meetings with residents and vendors. Whether you moved for work or at the behest of The Emperor (is there really much of a difference?), you've suddenly found yourself with a dilemma on your hands.
Your trusted Philly property management team becomes your eyes and ears on the ground, reporting by phone, email, online owner portal, or secret droid transmission the aspects of your property that you want to know about. You can be an out-of-state investor without losing touch with your residents' needs because you made an investment in full-service property management. Talk about hands-off cash flow!
When the Number of Investment Properties Adds Up
While you can use property management services with any number of rental homes, you may find that the workload gets heavier when you have multiple properties and want to free up time for continued growth.
Finding your seventh property while trying to improve on your golf game and doing all your own inspections, maintenance, and repairs may be a bit more challenging than finding your second, simply because you've got less of your time to devote to scouring the options available on the Philly rental market.
Many property owners find that full-service property management comes in handy when they have multiple properties and want to make sure they all get great care without pulling themselves in too many directions at once. Unlike stretchy strongman toys, it is indeed possible to stretch yourself to the limit.
As your investment business grows, you'll want to be able to evaluate the 'big-picture choices' carefully, and with more properties comes less time for the kind of work that ultimately determines the direction of your entire portfolio. Working with a skilled Philly property management company means you have your time back to be the mastermind behind the wheel.
When You Want to Stay Gainfully Employed
It's an enviable problem to enjoy your rental property work on the side while still enjoying your full-time career. What are you, Superman? For the rest of us regular humans, there are only so many hours in the day. You can quickly find that responding to maintenance issues and conducting drive-by inspections is eating up all of your time—despite making you happy with your material success.
A seasoned Philadelphia property management partner like Rentwell helps you continue to succeed in the career department while also enjoying the benefits of rental homes. Didn't get enough sleep for that big presentation you had because you were up fielding two a.m. maintenance requests? Say goodbye to that life!
It doesn't have to be a full-time job that pulls you away, though. Just as often, a thriving investment property business during retirement steals time from your interest in travel or spending time with your adorable grandkids. Or, hey, maybe you just want to go fishing and be left alone for two weeks—the point is that, with property management services, you can.
Whatever you want most to be doing with your time, it will be easier to juggle your various pursuits with the right Philly property management company.
When You Find Out It Costs You More Not To
Many property owners find themselves in one or more of the above situations but reject the idea of hiring property managers out of hand. 'It's cheaper and more profitable to DIY my properties,' is the prevailing notion. Unfortunately, this mental calculation doesn't factor in the value of an investor's time.
When you remember all the value you create with your time due to a property manager lightening your load, you can actually increase your profitability by doing the high-skill tasks that only a business owner can handle. Your property manager is here to keep the day-to-day tasks flowing smoothly, and that peace of mind is surprisingly affordable (just take a look at our Rentwell OneRate™)!
When You Want to Enjoy Real Estate Investing Again
Rentwell offers high-quality property management services that help you clear your plate in all of the above situations—and do so affordably. We believe our work speaks for itself, and that our satisfied clients believe our rates fit the amount of value we offer. However, not every property management company in Philadelphia is as dedicated as we are!
If you're ready to experience the Rentwell difference, just reach out to us! We're happy to show you how you could be enjoying your life as a rental property owner again.