Hiring a property management company to deal with your rental can feel like a major weight has lifted from your shoulders. No longer are you the one who has to take those tenant phone calls, deal with maintenance issues, show your vacant property or be the point of contact. This was the best financial decision you've made in a long time!
This feeling of freedom is wonderful and one of the main reasons many landlords hire a property manager to begin with. They just don't want to deal with that pesky rental anymore!
If you are a landlord that has hired a property management company, you may be wondering what you are still responsible for. While the property management company can take most of the headache out of owning your rental, they aren't the owner or the principal and are limited in the decisions they can make.
So what are you still responsible for? Here are 5 things that landlords still need to keep in mind, even after hiring a property management company.