There are several benefits you get from hiring a property management company. They include assessing the best possible rent for the property, calculating accurate income and expenses on the property, staying current on the legal environment and maintaining the asset.

Deciding to hire a property management company is only the first step. Finding the right company that's matches your goals for running your rental is the next critical consideration.

There are several questions to ask any commercial property management company before entering into a contract with them:

• How long has the company been in business?
• What types of properties does the company manage and in what geographic locations?
• Discuss the management company's style of managing rentals.
• Make sure the goals of the owner and the management company are the same.
• What accreditations does the company have?
• Is the company a licensed Broker and do the employees, such as a regional supervisor, have real estate licenses?

Determining if property management is the right investment for your rental is an important decision. Keep in mind that there are just so many issues now that can be sprung on a more or less innocent owner who just thinks the rental is a good investment. We think to protect that investment you really do need a property manager.

Some good books on property management issues are indicated below.

Photo Copyright © 2005 Paul Silver Photography

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