Why Athletes Should Consider Using A Property Manager
Professional Athletes rarely stay on one team throughout their whole careers. You are very fortunate to have any stability as an athlete. As one of my old coaches use to say, “you should always have a duffle bag packed.” The reason I say this is because professional athletes are unable to be in multiple places at one time when it comes to taking care of a house.
I bought my place in Philadelphia and was traded two years later. When I got traded, I was very naive in the fact that I thought I would easily find someone to rent my spot out and not have to deal with anything else regarding my property. Little did I know that was not the case. I quickly went from a homeowner to a landlord and real estate agent in a matter of weeks. Being an out of state landlord is a a battle within itself. I tried to fight the good fight and seek the help of friends to deal with any maintenance issues and other small minute problems and avoid paying a property manager. It wasn’t until I wasn’t able to find a tenant for a couple months and was not only paying my mortgage but my current rent. I decided to hire a property manager to handle my rental property. An immediate weight was lifted off my shoulders by making the smart decision hiring a property manager. Here are a few reasons why you should consider using a property manager:
From handling the paperwork to tracking down payments to dealing with tenant issues on top of your schedule as a professional athlete, it’s nearly impossible to get a strong grip of all the things you need to get done handling a property yourself. A property manager allows you to have more time to your other pressing needs and keeps all the intricate matters organized for you.
I heard a story about an out of state landlord dealing with a squatter, a tenant who stays at a property and doesn’t pay rent, and I said to myself that, that could never be me. However, when I was reflecting, I asked myself if that did happen to me how would I handle that. A property manager would know exactly what to do in that situation. Matter of fact, because of their tenant search protocol the chances of that happening are very slim. Their experience wouldn’t only help in this situation but other situations such as necessary permits, regulations, and laws.
Organization & Money Management:
Having the peace of mind to know that everything related to your rental property is organized through your property manager is great for your money management. You don’t have to deal with out of the blue expenses and keeping track of what that random payment was for because it’s organized. When I was taking care of my property on my own, there were so many expenses I paid for and failed to keep track of. Money management is a major key for financial stability and a property manager is one way to help with that.