Should You Manage Your New Orleans Rental Property Yourself?
Blog Thinking of Managing Your Rental Property Yourself? Remove the stress of property ownership by entrusting day-to-day management to Foubourg Property Management. Perhaps—but if you don’t have the time or expertise, it’s often wiser to work with a professional property manager. Life is short, and having expert support can save you stress and maximize your investment. Once, we were told that earning income from real estate was effortless. All it took, we were told, was a little information and inspiration—attend a slick, expensive weekend seminar where a real estate “guru” reveals the secret formula, grab a few audio tapes or books, and you’re ready to collect “passive” income. Anyone could do it. And yet, such claims persist. Get-rich-quick schemes never truly disappear. Interestingly, we don’t see the same frequency of infomercials promising instant success in professions like medicine, construction, botany, or accounting. In most specialized fields, we recognize that real results require hard-earned knowledge, experience, and consistent effort. And when needed, we have no hesitation in hiring qualified professionals to provide the expertise required. Manage your New Orleans property yourself? When it comes to managing rental properties—or any substantial real estate investment—professional support is often essential. Maintenance and repairs, legal compliance, marketing and showing vacancies, background and credit checks, rent collection, handling tenant complaints, evictions, supervising contractors or staff, and keeping accurate, accessible records—none of this happens automatically. To ensure your investment remains consistently profitable, these tasks must be handled efficiently on a daily basis. In some cases, managing a property yourself makes sense—especially if it’s a single home or apartment, you live nearby, and you have the time and skills for repairs and management. However, for most property owners, delegating these responsibilities to a qualified property manager is the smarter choice. Below are a few key reasons why hiring a professional may be the best decision. You Lack Time to Learn the Law Managing a profitable rental property requires a thorough understanding of all relevant laws and regulations—and the ability to stay current as rules change. Few property owners have the time to acquire this expertise while juggling other responsibilities. Without proper knowledge, mistakes can be costly—or even illegal. And unfortunately, “learning on the fly” is not a valid excuse in the eyes of regulators or courts. A professional property management company, like Foubourg, ensures your property is always managed in full compliance with local, state, and federal laws. Legal compliance is just one part of the comprehensive service they provide. Good Tenants Aren’t Always Easy to Find Perhaps you’re a people person, and you’re ready to do your due diligence. Even so, finding and keeping good tenants isn’t easy. You want to protect your property, and you also want any vacancies to be filled as quickly as possible. How do you find the right tenants and find them quickly? How do you do it again and again? Even a low vacancy rate means recurring vacancies if you have more than a few rental units. Even a single problem tenant can make your property less profitable and less inviting for other tenants, current or prospective. Our dedicated team thoroughly vets every applicant so that the tenants we find for you are reliable. We do what’s necessary to ensure that you receive continuous rental income for your property and that your property maintains its value with the lowest possible costs of ownership. This means finding tenants who meet our standards: tenants who respect your property and your other tenants, let you know when unscheduled repairs and maintenance are necessary, pay the rent on time, and plan to be your tenant for the long run. Unlock Your Free Property Assessment Now Enter your investment information and discover: What your property is really worth How to get hassle-free rent flowing into your bank account How property management services add value immediately