Owning several rental homes can mean juggling a lot of tasks at once. Some owners keep doing it themselves; others hire help. Here are seven common reasons owners of several homes choose a property manager.
Why owners hire help
- Distance. Owners who don’t live near their homes may want someone local to handle showings and maintenance.
- Leasing takes time. Marketing, showings and applications add up across several homes.
- Maintenance. Coordinating vendors for repairs and seasonal work can be a lot to keep track of.
- Resident communication. Answering questions and requests from several households takes time.
- Rent tracking. Online rent collection and regular statements can make records easier to follow.
- Consistency. The same processes across every home can reduce confusion.
- Time for other priorities. Some owners simply want to spend less time on day-to-day tasks.
How to compare property managers
- Write down which services you need.
- Ask for referrals and read reviews.
- Talk with more than one company.
- Confirm licensing with the Montana Board of Realty Regulation.
- Ask how they communicate and what owner statements look like.
- Read the management agreement carefully, and have an attorney review it if you have questions.
How a property manager can help
Depending on the owner’s needs, a property manager’s services can include marketing, applicant screening, lease signing, rent collection, maintenance coordination and monthly owner statements across several homes.
Ironhorse Management has worked with Gallatin Valley owners since 1979. Learn more about our rental property management in Bozeman, or if you would like to talk through your rental, contact our team or call (406) 586-4933, Monday through Friday, 10am to 4pm.
Please note: This article is for general informational purposes only and is not legal, financial or tax advice. Every property and situation is unique. It’s wise to consult an attorney and/or CPA for legal or financial matters, and to review your lease, Montana law and other appropriate resources before making decisions, rather than relying only on this article.