A management company has the freedom to choose tenants and to make rental agreements with them. The property owner is therefore not on a direct contractual basis with the tenant. The management company's business is to maximize the owner's return , and a good company will seek to do so on a long-term basis. Some understanding is required on the part of the owner at this point. The management company may ask for a slightly lower rent than the owner would like in order to assure a longer occupancy.
Many people perceive the management of single-family homes to be an easy job.
To the contrary, it involves making sure checks are good, that the property is kept up, that the tenants comply with rules, restrictions and property by-laws. When repairs are done, expenses may seem high to people who may have always done their own repairs and have never put a cost on their labor. It is most important that the owner recognizes that in the case of an emergency that threatens the residence, those situations must be dealt with immediately to avoid more costly future repairs. Although preventative maintenance is performed, the unexpected will certainly occur. If the care of your property is important to you, it is definitely to your advantage to hire a professional management company.