For investors who own multi-family properties, hiring Wheat Ridge property management may seem like a silly choice. After all, they’re rentals are all located together, making it much easier to collect rents and deal with tenants. This is especially true when the owners live on-site in one of the property’s units, right?
In reality, this isn’t always the case. Multiple units on the same property can be just as challenging as if they were spread across the city, and sometimes being a “live-in “owner has its downsides, too.
Here are some of the top reasons why professional property management in Wheat Ridge, CO may make sense for you and your multi-family investment:
1. Owning a multiple-unit property does not mean that they’ll all get rented simultaneously or stay occupied for the same length of time. You’re still going to have to show and lease each apartment as its own separate residence, meaning a significant investment of time is required.
2. In multi-family residential properties that have been converted from older, single-family homes, it’s not uncommon for more repairs and maintenance to be needed than with their newer counterparts. Having a property manager means someone else taking the time to handle any issues that arise.
3. When your tenants know that you’re the owner, it’s not uncommon to have them knocking on your door at 3:00 a.m. to report a leaky pipe or broken air conditioner. Many people choose to keep their ownership silent, utilizing Wheat Ridge property management as a way to maintain their peace, quiet, and privacy.