--- title: Is Hiring a Property Management Company Really Worth it? description: If you own an investment property but don't want to play the role of landlord, then perhaps you should try hiring a property management company. image: https://blog.sdnyrealty.com/hubfs/Blog_Images/Property%20Management%20Company.jpg --- - [Pay Rent](https://sdnyrealty.com/pay-rent/) - [Forms](https://sdnyrealty.com/forms/) -   [![S&D Commercial Real Estate Agency](https://blog.sdnyrealty.com/hs-fs/hubfs/S__D_Real_Estate_January2019/images/sd-original-logo_300px.png?width=300&height=194&name=sd-original-logo_300px.png "S&D Commercial Real Estate Agency")](https://sdnyrealty.com/) - [About](https://sdnyrealty.com/long-island-commercial-real-estate-firm/) - [Agents](https://sdnyrealty.com/long-island-real-estate-agents/) - [Listings](https://sdnyrealty.com/property-listings/) - [Property Management](https://sdnyrealty.com/property-management-company/) - [Resources](https://sdnyrealty.com/real-estate-resources/) - [Neighborhood Guide](https://sdnyrealty.com/neighborhood-guide/) - [Long Island](https://sdnyrealty.com/long-island-commercial-real-estate/) - [Nassau County](https://sdnyrealty.com/nassau-county-commercial-real-estate/) - [Bethpage](https://sdnyrealty.com/bethpage-commercial-real-estate/) - [Farmingdale](https://sdnyrealty.com/farmingdale-commercial-real-estate/) - [Franklin Square](https://sdnyrealty.com/franklin-square-commercial-real-estate/) - [Garden City](https://sdnyrealty.com/garden-city-commercial-real-estate/) - [Glen Cove](https://sdnyrealty.com/glen-cove-commercial-real-estate/) - [Hempstead](https://sdnyrealty.com/hempstead-commercial-real-estate/) - [Hicksville](https://sdnyrealty.com/hicksville-commercial-real-estate/) - [Long Beach](https://sdnyrealty.com/long-beach-commercial-real-estate/) - [Mineola](https://sdnyrealty.com/mineola-commercial-real-estate/) - [Rockville Centre](https://sdnyrealty.com/rockville-centre-commercial-real-estate/) - [Suffolk County](https://sdnyrealty.com/suffolk-county-commercial-real-estate/) - [Babylon](https://sdnyrealty.com/suffolk-county-commercial-real-estate/babylon-commercial-real-estate/) - [Brookhaven](https://sdnyrealty.com/brookhaven-commercial-real-estate/) - [Hauppauge](https://sdnyrealty.com/hauppauge-commercial-real-estate/) - [Huntington](https://sdnyrealty.com/huntington-commercial-real-estate/) - [Islip](https://sdnyrealty.com/islip-commercial-real-estate/) - [Melville](https://sdnyrealty.com/melville-commercial-real-estate/) - [Riverhead](https://sdnyrealty.com/riverhead-commercial-real-estate/) - [Smithtown](https://sdnyrealty.com/smithtown-commercial-real-estate/) - [Southampton](https://sdnyrealty.com/southampton-commercial-real-estate/) - [Consulting Services](https://sdnyrealty.com/consulting-services/) - [Property Appraisal Services](https://sdnyrealty.com/property-appraisal/) - [Zoning Regulations](https://sdnyrealty.com/zoning-regulations/) - [Forms](https://sdnyrealty.com/forms/) - [Veterans & Military Housing](https://sdnyrealty.com/veterans-military-housing/) - [Join our Program](https://sdnyrealty.com/veterans-military-housing/#apply-now) - [Forms & Applications](https://sdnyrealty.com/forms/) - [Pay Rent](https://sdnyrealty.com/pay-rent/) - [Blog](https://blog.sdnyrealty.com/blog) - [Contact](https://sdnyrealty.com/contact/) # Is Hiring a Property Management Company Really Worth it? - April 11, 2018 - [Property Management](https://blog.sdnyrealty.com/blog/topic/property-management), [Renting](https://blog.sdnyrealty.com/blog/topic/renting), [landlord](https://blog.sdnyrealty.com/blog/topic/landlord) - 0 ![Is Hiring a Property Management Company Really Worth it?](https://blog.sdnyrealty.com/hubfs/Blog_Images/Property%20Management%20Company.jpg) Without any prior experience, managing an investment property will not come easy. Since there are certain laws and practices that you might be unfamiliar with, one wrong move can bring about serious legal and financial problems. However, when you hire a [property management](https://blog.sdnyrealty.com/blog/5-reasons-need-property-management/) company to oversee your real estate, you can rest easy knowing that these problems are being taken care of by a professional. ## The Benefits of Hiring a Property Management Company ### Quality Tenants Since they are well-versed in the tenant screening process, a property management company will help locate only the highest-quality residents. They have reviewed thousands of different applications—so they’ll easily be able to spot any potential red flags. Ideally, their process will result in tenants that pay on time, rent for longer periods, maintain their unit and don’t cause problems. Furthermore, by taking the screening out of your hands entirely, you may be shielded from [rental scams](https://blog.sdnyrealty.com/blog/rental-scams) that are directed at [owners](http://articles.latimes.com/2012/mar/25/business/la-fi-lew-20120325).   ![Property Management Company](https://blog.sdnyrealty.com/hs-fs/hubfs/Blog_Images/Property%20Management%20Company1.jpg?width=320&height=249&name=Property%20Management%20Company1.jpg) ### Less Headaches Unfortunately, it really only takes one [bad tenant](https://blog.sdnyrealty.com/blog/bad-tenants) to bring about legal and financial problems. Luckily, property managers are up-to-date with the latest tenant-landlord laws, as well as regulations that involve: - [Tenant screening](http://www.nysar.com/legal/key-legal-issues/tenant-screening-law) - Evictions - Inspections - Rent collection - Safety Think about it this way: the savings that stem from avoiding just one lawsuit may be able to cover the price of hiring property managers entirely. In other words, it’s worth it. ### Maintenance and Repair Costs Any property management company that’s worth their salt will either have an in-house maintenance staff or a vast network of licensed, bonded and insured contractors to take care of your building’s repairs and [maintenance](https://blog.sdnyrealty.com/blog/how-to-keep-up-with-property-management-maintenance). ![Property Management Company](https://blog.sdnyrealty.com/hs-fs/hubfs/Blog_Images/Property%20Management%20Company2.jpg?width=320&height=213&name=Property%20Management%20Company2.jpg) All of these contractors will have been previously vetted to ensure quality, pricing and high-level of service. Either way, you will be saving a lot more than you would have if you hired your own handyman to take care of it. ### Tenant Retention   The turnover process between tenants isn’t easy. You need to make repairs, paint, clean and change the locks. Not only is this a lengthy process, but it also costs a lot. Luckily, a property management company will have a proven tenant retention policy that helps you hold onto residents for longer and avoid the turnover process entirely. After all, happy tenants tend to stay in rentals for longer.   ![Property Management Company](https://blog.sdnyrealty.com/hs-fs/hubfs/Blog_Images/Property%20Management%20Company3.jpg?width=320&height=213&name=Property%20Management%20Company3.jpg) ### Shorter Vacancy Cycles In the event that you do have a vacancy, the company can efficiently market your property to attract potential tenants. They will also know the exact cosmetic improvements that will make your property appeal to a wider audience. Their knowledge of the market and recent sales will help determine the optimal rental rate that will be comfortable for incoming residents. All in all, they have what it takes to decrease your vacancy cycles. If you have an investment property but don’t want to take on the responsibilities of a [landlord](https://blog.sdnyrealty.com/blog/becoming-a-landlord), hiring property management is probably your best bet. --- [![Join The Commercial Courier](https://no-cache.hubspot.com/cta/default/432922/d68af3fc-de89-4dd0-bc71-e7dba2bb02f5.png)](https://cta-redirect.hubspot.com/cta/redirect/432922/d68af3fc-de89-4dd0-bc71-e7dba2bb02f5) ### Tags: - [Property Management](https://blog.sdnyrealty.com/blog/topic/property-management) - [Renting](https://blog.sdnyrealty.com/blog/topic/renting) - [landlord](https://blog.sdnyrealty.com/blog/topic/landlord) ### [Previous post](https://blog.sdnyrealty.com/blog/retail-space) #### [How to Choose the Right Retail Space for your Business](https://blog.sdnyrealty.com/blog/retail-space) ### [Next post](https://blog.sdnyrealty.com/blog/desk-accessories) #### [Desk Accessories for Increasing Productivity in the Office](https://blog.sdnyrealty.com/blog/desk-accessories) ### Related posts [![How Tenants’ Rights Ensure that Renters are Always Protected](https://blog.sdnyrealty.com/hs-fs/hubfs/Blog_Images/Tenants%E2%80%99%20Rights1.jpg?width=768&name=Tenants%E2%80%99%20Rights1.jpg)](https://blog.sdnyrealty.com/blog/tenants-rights) - September 19, 2018 - [lease agreement](https://blog.sdnyrealty.com/blog/topic/lease-agreement), [Renting](https://blog.sdnyrealty.com/blog/topic/renting), [landlord](https://blog.sdnyrealty.com/blog/topic/landlord), [tenants' rights](https://blog.sdnyrealty.com/blog/topic/tenants-rights) ### How Tenants’ Rights Ensure that Renters are Always Protected When you sign a lease, the two main parties are you and the landlord, with each assigned specific rights and responsibilities. However, no matter... [Continue reading](https://blog.sdnyrealty.com/blog/tenants-rights) [![Why Residential Property Management is Absolutely Essential](https://blog.sdnyrealty.com/hs-fs/hubfs/Blog_Images/Residential%20Property%20Management.jpg?width=768&name=Residential%20Property%20Management.jpg)](https://blog.sdnyrealty.com/blog/residential-property-management) - August 22, 2018 - [residential real estate](https://blog.sdnyrealty.com/blog/topic/residential-real-estate), [Property Management](https://blog.sdnyrealty.com/blog/topic/property-management), [landlord](https://blog.sdnyrealty.com/blog/topic/landlord) ### Why Residential Property Management is Absolutely Essential Owning an investment property has its fair share of advantages and disadvantages. On one hand, it’s an incredible opportunity to create an additional... [Continue reading](https://blog.sdnyrealty.com/blog/residential-property-management) [![How to Start your Apartment Search Off on the Right Foot](https://blog.sdnyrealty.com/hs-fs/hubfs/Blog_Images/Apartment%20Search.jpg?width=768&name=Apartment%20Search.jpg)](https://blog.sdnyrealty.com/blog/apartment-search) - August 15, 2018 - [Renting](https://blog.sdnyrealty.com/blog/topic/renting), [Leasing Apartments](https://blog.sdnyrealty.com/blog/topic/leasing-apartments), [property search](https://blog.sdnyrealty.com/blog/topic/property-search) ### How to Start your Apartment Search Off on the Right Foot If you’ve ever spent time searching for a new place to live, then you know that the struggle is real out there. With so many buildings and... 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