Jay Young, owner of Seattle area Real Property Associates for 21 years, was recently interviewed about rental real estate and property management by Bloomberg News.
When asked about the benefits of property management, Jay explained one great reason to have a property manager for your rental home: they can deal with problem tenants for you.
Here is what he had to say in the interview:
Handling the rental — and re-rental — of a home is often too much trouble for an owner, said Jay Young, co-founder of Real Property Associates, a management company in Seattle.
“There are a lot of hairy things,” he said. “You can have the best-screened tenant and who knows? Maybe they lose their job, or go nuts and skip out, or bring a dog when the owner doesn’t want that. I’d say 95 percent of the time things go smoothly, but there’s always that 5 percent that takes 20 or 30 percent of your time.”
You can read the full article here: http://www.bloomberg.com/news/2011-11-29/once-ugly-property-management-grows-as-u-s-home-rentals-surge.html