I Wish We Had a Property Manager

It has been an eventful couple of weeks at the Allomong investment property - a 4 plex near downtown Chandler, Arizona.

Things are heating up here in the valley and, wouldn't you know it, the A/C unit for the one bedroom apartment decided to go on the fritz. There is no deferring this kind of repair in Arizona in the summer - it is an urgent and pressing issue. So, we contacted a company to come out and fix it. In the process of making this repair, they let us know about a problem with the duct work. The previous owner had replaced this herself and had used the wrong size duct work - it was too wide and was not forcing the air to the right places or with enough pressure. Much of the cold air was dumping into an evap unit and was never reaching the apartment at all. The original repair was not too costly and we were thankful that we did not have to replace the entire A/C unit, but the estimate for replacing the duct work made us cringe. After assessing cost vs. benefit we decided to make some modifications to the existing duct work (ourselves), which produced significant improvement and satisfied the tenants (thankfully).

During this same timeframe, the hot water tank, which supplies all 4 units, decided to go bottomless. My husband and father in law were also able to replace the tank (with not more than a few choice words ;-)).

My father and mother in law are our onsite managers and therefore we have not explored the possibility of hiring a professional property manager. They collect rent, maintain the grounds, make improvements, manage day to day tenant relationships, and make repairs. They live in one of the 2 bedroom units, which we renovated right before they move in.

Well, this month I am remembering the benefits of having a property manager. I know that they offer so much in the way of skill & knowledge, and that by applying their professional skills they can help rental property owners manage cashflow, improve property value, and get a greater long term ROI. They also manage the ongoing operations of the rental property. This month, my husband will be out on the road for work and my in-laws will also be gone. This month, I am the property manager, along with working my full time job at Infusionsoft and investing my time into my side projects (like this one). I truly hope I am up to the challenge. I am sure I will be very grateful when mid-July rolls around and I can hand the reigns back to our onsite managers. My fingers are crossed that there are no calamities - especially during regular work hours!!

Let's Talk.  How do you other landlords handle rental property operations when you are on vacation or unavailable for an extended period of time?  Property managers - do you ever offer temporary services for situations like this one?