My dad had a rental property for all of my life.
He was always going to what he called the Patterson house.
Dad was replacing toilets, updating floors, painting and doing all sorts of work on his rental. It was annoying that every one of us could never have a new porch, powder room or flooring, but the rental always seemed to get it. My father spent a lot of time and effort on that investment. When he passed away the Patterson new home was given to me. I instantly talked to a real estate agent about putting it on the market. When I saw how much money I could get for it and how much the property made each week in rent, I realized it was financially smarter to keep it. I did not want to do what my father did though. Not only do I not possess the handyman skills he had, but I don’t have the time he did. I work as an accountant and the last thing I want to do is come home and do another job. I started looking around for property management services. They handle all parts of the rental. They hire out a lawn crew to take care of the shrubbery. They get a plumber if there is a broken toilet or a Heating & Air Conditioning specialist if there is a complication with the A/C. All I need to do is approve hiring a handyman and pay the bill. I then just pay a small cost each week for a property manager to talk to my occupants. I guess it will be worth every penny having someone else take those calls.