Scottsdale Real Estate Investment
Should Landlords Mop Floors and Change Lightbulbs?
Does it make sense to be a manager as well as a landlord? To answer this question, one must ask another question. What do successful companies do? They create a hierarchy. They have a CEO that runs the show. The company has branch managers that run the branch, followed by floor managers that run the floor. Assistant managers work with employees daily, and the hierarchy is established.
The best Arizona property management companies have a hierarchy. The best societies in the world have a hierarchy. There has to be a natural hierarchy to keep things sensible. There is no such thing as a full democracy to the greatest extent of the definition (that is called anarchy, and it isn’t practical).
The Fun in the Hierarchy
Political notions aside, companies succeed because of a hierarchy, among many other things. A landlord could be the top of a business hierarchy. The landlord is the CEO. So why is the CEO changing lightbulbs, collecting rent, and finding new tenants from Craigslist ads that they posted?
More landlords need to adopt a hierarchy mentality for their efforts. They need to reach out to investment firms and Scottsdale real estate investment property managers to build a team that helps with their property. It makes sense in a business standpoint.
A Real Estate Investment Company in Scottsdale will connect a landlord with a property management company. The Tempe property management will closely work with the investment firm so they are all on the same page.
An Argument Against
There is one argument against working with a Real Estate Investment Company in Scottsdale. It is a slightly fair argument, and proves that every rule has an exception. If a landlord has one property, they may not benefit from a property management firm. This is doubly so if they are located very close to the property. It could still be viable, but there is less a property manager can offer. Some landlords do not see their work as a business. it may be a side hobby, at best.
But, any landlord that intends to go further in their real estate “career” has to have one for obvious reasons. It frees up time. It allows them to do other activities, both business related and for pure fun. Landlords are smart. They bought a property and they are making money off of it every month. Landlords are smart enough to know that their time is valuable, and it should not be wasted doing the work of a new hire employee in a business.