Property owners with many properties but little time to manage them will often hire a company to take on that workload. Maybe you’re an owner with assets in California, but live in New York (or even China) — own a large building with dozens of units and find yourself overwhelmed by the sheer number of management tasks.
There are many reasons for hiring a property management company, but there’s no reason to be saddled with one that fails to live up to your standards. And believe me, they’re out there, and if you’re not staying frosty — mindful of the difference between the good and the bad — it’s going to get ugly for you and your business quickly. It matters who you hire, because there is more to managing a property than identifying good tenants and collecting rent.