Real estate is no doubt one of the best ways to build wealth in this country. Many individuals purchase properties to rent or become “accidental landlords” after upsizing to a different home and deciding to rent their old home rather than sell. At a small scale, it is something that anyone can do on their spare time, to supplement their income.
At a certain point however, the challenges of property management start to take a toll on the part-time investor who keeps his/her day job. The constant calls from tenants, the need to collect rent from those tenants that pay late, maintenance issues, etc., all can become burdensome to those that do not have the proper systems in place to streamline the management process. This is why it may be wise to decide, at a certain point, to consider hiring a professional property management company.