When It Comes to Your Portfolio, Should You Hire a Property Manager in Frisco?

If you plan to add more properties in Frisco to your rental portfolio, it's a good time to consider hiring a property manager in Frisco to care for them. Working with a local expert is an excellent way to build your long-term wealth when deciding to add properties in this booming suburb!

Hiring a property manager is a big decision—but it's tough to grow your portfolio if you keep managing your properties on your own.

At RentHub, we know you're not afraid of hard work, or you wouldn't have become an investor in the first place. However, we've said this before—and we still stand by it: success depends on allocation.

When you decide you're ready for a professional Frisco property manager, it's critical to choose the right one! How do investors know when it's finally time to bring in some help? Ask yourself a few critical questions, first.

1. Are You Nearby?

Taking advantage of the DFW rental market doesn't require you to live in the area! Out-of-state investors can build a portfolio in Frisco—no matter where they live. 

However, if you're not close to your rental properties, it's challenging to keep an eye on them. Even if you are local, the more properties you have, the more work it is to find tenants, provide quality maintenance, and keep up with the everyday demands of being an investor-landlord.

A property management partner is an excellent solution for long-distance investors who understand the power of the Dallas rental market; it's an excellent place to own rental properties! Even if you live across the Metroplex, it might feel like you're "long-distance" with the commute times we face in the DFW area. Choosing a property manager in Frisco gives you the local experience you need to keep your property in excellent condition—and profitable. 

2. How Many Properties Do You Own?

Some DIY landlords can manage the responsibilities of one rental property without a problem. When growing your portfolio and adding more properties, the work you do for one property quickly becomes unmanageable across multiple properties.

A single property can generate a nice amount of extra income. More rental properties—especially when you choose multi-family units like duplexes—help investors increase long-term wealth more quickly. If you've set your sights on building a significant portfolio—or merely adding one or two more properties—you'll need help doing what needs to be done to stay profitable.

Think of everything you do for one property:

• Marketing your rental
• Screening potential tenants
• Creating the lease
• Collecting the rent
• Keeping up with maintenance
• Tenant management
• Screening pets.

Multiply those tasks (and more) across more than one property, and you'll quickly understand that a Frisco property manager can help you grow your portfolio (and your wealth) without adding more work to your task list!

3. Is Investing Your Sole Source of Income?

Many investor-landlords manage their rental properties in addition to a full time "day job." Do you have a "real" career? If you work all day, then spend your nights and weekends managing your rental properties, adding more properties will eliminate any free time you thought you had. 

Being a landlord is a full-time job: tenants have issues, and things can go wrong with your property during the day. If you can only respond after hours, you risk losing tenants to better-managed rental homes.

There's no need to quit your career! If you're working a day job while juggling your landlord tasks on the side, it's time to bring in an expert property manager in Frisco.

4. Is It Worth the Expense?

If your goal is to increase your profits, a property manager can seem like "just one more" expense that dips into your "passive" income.

Most landlords not only find that they can cover the cost of expert property management, but their profits also increase when experts take on your properties! In most cases, you're losing valuable investment dollars without the help of a property manager to maximize what your properties have to offer.

If you want to build your long-term wealth, you cannot afford to keep managing your rental properties without a property manager. Your time is valuable! While you're not paying yourself for the daily landlord work you do, you could be losing money by doing work that you should pay an expert to do for you. 

A Frisco property manager helps increase your profits by: 

• Setting the best rental price: A price set without performing a rental analysis could be costing you money every month. Your Frisco property manager should have the tools and expertise to do this for each of your investment properties. At RentHub, we offer our investor-partners a rental analysis for free.
• Being a tax deduction: Your bottom line improves when a property manager efficiently completes the landlord tasks that take you hours or days. Plus, you can deduct your property manager as a professional service at tax time!
• Making maintenance affordable: Property managers can apply their bulk purchasing power to more than just marketing materials. Their connections to skilled contractors and vendors often equals savings on repairs for you!

Keep in mind that this is just a small sample of where property management can protect your profits! Most landlords find that the increase in profits more than makes up for the fees associated with a professional property management.

Property Management Is an Asset for Your Assets!

Hiring help to manage multiple properties is a smart thing to do: it does not mean you "can't make it" on your own. The most successful investors know that investing in a property manager is your next-best investment when it comes to that building your long-term wealth. 

Don't settle for just "any" property manager! You need a professional to make the most of your investment portfolio. RentHub property management has the right experience and extensive resources to help you continue growing a profitable rental property portfolio. Get started with our free rental analysis!

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