2. How do you deal with stress? Are you a patient person?
This is a tough one. We all like to think of ourselves as level-headed and even-keeled, but at the end of the day it takes a special kind of person to deal with the ups and downs of property management. Behind the seemingly simple task of collecting rent, every month lie a number of unpredictable problems can push people to their limits. Ask yourself how you would react in the unfortunate event that tenants might create for you:
- Get in fights with other tenants or neighbours
- Have domestic disputes
- Conduct illegal business in the dwelling
- Carry on all night parties and revelry
- Try to sneak extra people or animals into the home
- Habitual late payment of rent
- Trash the property
- Incite the wrath of the HOA because of repeated deed restriction violations
- Dealing with someone who is angry or just being difficult
- Overzealous maintenance requests
Does this stuff happen all the time? No, but when it does, it has to be dealt with an efficient and professional manner. If you feel like you can handle the stress these situations would raise, and you think doing so is worth saving on the management fees then it may be in your best interest to manage rental properties on your own. Otherwise, please do ask us for a FREE no-obligation quote for your services.