I work with a single agent who takes care of renting the apartments, collecting rents, complaints and repairs.
I own four different rental properties, each with six apartments. I was so excited to purchase those properties. I was sure the investment would quickly pay for itself and provide a decent income. I had plans to continue to buy more properties over the years. However, I soon discovered that handling the needs of the tenants is a frustrating and full-time job. Not all of the tenants pay their rent on-time. They lie about having pets. I was originally mowing the laws at all of the properties. The yard would be littered with toys, trash, dog poop and lawn furniture. I’d spend more time picking up after the tenants than actually mowing the grass. I was getting constant phone calls for ridiculous complaints. I had a renter tell me that a light fixture was broken and needed to be replaced. When I went over there and checked, I discovered that the lightbulb was blown out. I have a job above and beyond serving as a landlord. I work five days per week from nine to five. Spending my evenings and weekends running around taking care of the rental properties was extremely aggravating. I finally turned the whole responsibility over to a property management company. It has been such a relief. I work with a single agent who takes care of renting the apartments, collecting rents, complaints and repairs. She hires professionals to fix issues with the plumbing, electric, heating or cooling. She provides a buffer between the tenants and myself. Although the fees of the property management company cut into my profits, the convenience is totally worth it.