Why is property management important?

A property management company can be a landlord’s greatest asset. As a neutral third party, the property manager handles the day-to-day operations of a real estate investment, from a single vacation home to a large apartment building or several rental properties. A property management company can be especially helpful to landlords who own several units and can’t manage each of them individually, or those who live too far from their investment properties to meet with renters and oversee maintenance. Property management is particularly important if your rentals are part of an affordable housing program. To receive financial assistance from the government, the landlord must comply with a complicated set of rules; property management companies should have both experience and expertise in complying with the rules specific to each housing program.