Debunking 7 Common Myths about Property Management


If you are a Landlord, you know that managing your own property can be a lot of work. Between finding suitable tenants, collecting rent and managing repairs, there is a lot to keep track of. This work is definitely not easy, but can be made a lot more manageable by working with a professional property management company.

However, there are a lot of myths surrounding property management and these can end up costing you time and money.

Here are the 7 most common myths surrounding property management:

  1. Property management is expensive: The truth is if you are with the right company, hiring a property manager should save you money in the long run! They can help you find high quality tenants, save you money on repairs as they have connections with local suppliers around town and they also deal with all of the costs to market your property.
  2. Property managers do not care about their tenants: The could not be further from the truth! Property managers want their tenants to be happy and stay in the property they are renting for as long as possible. Most companies go above and beyond to make sure their tenants are taken care of.
  3. Property managers are lazy and do nothing apart from collecting rent checks: They are responsible for the care and upkeep of rental properties, and they work hard to ensure that the property is in good condition. As well as this, whenever tenants have issues with anything in their property, it is the property management company that they call.
  4. Property management is only for large buildings or complexes: Most property management companies look after a wide variety of rental properties including, but not limited to apartment blocks, houses, boarding houses and units. Property managers bring a wealth of knowledge to the table and they can help to ensure that your property is well-maintained and safe for the occupants.
  5. “I can manage my property on my own, so I don’t need a property manager”: Property managers exist to help landlords maximize the return on their investment. There are some big differences between property managers and landlords. Firstly, as part of the service they provide, property managers will have the resources that are required to carry out tasks like screening tenants, handling maintenance and keeping up with the forever changing laws and regulations.
  6. My tenants won’t respect me if I don’t manage my own property: Property management companies are typically very professional and responsive to tenant needs. In addition, property management companies have the resources and staff necessary to effectively maintain a property and as a result, tenants can feel confident that their landlord is upholding their responsibilities. Landlords who have chosen to hire a property management company are also more likely to be accessible and responsive to tenant concerns.
  7. Property management takes the fun out of being a landlord: By taking on the day-to-day tasks of property management, landlords can free up their time to focus on the things they enjoy. Whether it’s spending time with family, pursuing hobbies, or simply taking a well-deserved vacation, property management can help landlords to achieve a better work/life balance. With property management, you can relax and enjoy your property without having to worry about the day-to-day tasks of being a landlord.

Beat the myths! Work with a professional property management that suits your needs and requirements as a landlord. If you are looking for somebody to look after your property, get in touch with one of the team at T and T Property Management today!