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Landlord Dilemma: To DIY or Hire a Property Management Company in Boston?

Posted by Nick Warren on Tuesday, December 6th, 2022 at 12:58pm.

  The Boston Landlord Dilemma

As a Boston investment property landlord, managing your property can be time-consuming and challenging. From finding tenants and collecting rent to handling maintenance and repairs, there is a lot to keep track of. One option that many Boston landlords consider is hiring a residential property management company to handle these responsibilities. But is this the right choice for you? In this post, we will explore the pros and cons of hiring a property management company in Boston to help you make an informed decision.

Pros:

  • A property management company in Boston can handle all of the day-to-day responsibilities of owning an investment property, such as finding tenants, collecting rent, and handling maintenance and repairs. This can save you time and energy, allowing you to focus on other aspects of your life or business.

  • A property management company in Boston has the experience and knowledge to handle difficult situations that may arise, such as dealing with unruly tenants or handling legal issues specific to the Boston area. This can provide peace of mind and protect your interests as a landlord.

  • A property management company in Boston can help you maximize the profitability of your investment property. They will have the expertise to set the right rental rate for the Boston market and take steps to ensure that your property remains in good condition and desirable to tenants. This can help you earn more income from your property.

Cons:

  • Hiring a property management company in Boston can be expensive. You will need to pay the company a percentage of your property's rent, as well as any additional fees for specific services. This can eat into your profits and reduce the overall return on your investment.

  • A property management company in Boston may not always have your best interests at heart. They are a business, and their primary goal is to make money. This means that they may prioritize their profits over your needs as a landlord.

  • A property management company in Boston can distance you from your investment property. Since they will handle all of the day-to-day responsibilities, you may not have as much direct involvement in your property management. This can make it harder for you to stay informed about what is happening with your investment and may reduce your sense of ownership.

Overall, hiring a residential property management company in Boston can be a helpful option for some landlords, but it is not right for everyone. It is important to carefully weigh the pros and cons and consider your own needs and situation before making a decision.  Our agents can help advise you on this decision and recommend property management companies that we know and trust in the Boston area!

 

 

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