McKinney is not exactly the biggest city in the US, nor even in Texas for that matter. For that reason many people in the city know other people, and being Texans often choose to work with people whom they can call friends.
This extends to the point where some people who own a property or two in the city which they rent out might ask “friend Bob” to look after it for them rather than going to the “expense” of appointing a McKinney property manager or property management company.
However, doing business with friends is very often not a good idea. You are going to have to pay Bob anyway, but just because he happens to live in McKinney and you don’t, does that make him qualified to do the job? What happens if there is some sort of a problem with your property? There’s a big storm and shingles fall off the roof – does Bob know who to call to get it fixed? It’s almost certain he doesn’t. But when you have a McKinney property manager or property management company that looks after properties for a living you can be certain that they do.
If Bob is an accountant, or works in an auto repair shop, or is a dentist, does he have all the contacts that a professional property manager does? Of course he doesn’t.
All Sorts Of Problems with Property Management
That in itself can lead to all sorts of problems. If he doesn’t have the right contacts and doesn’t know what to do in an emergency it could finish up costing you thousands of dollars. Suppose there is a plumbing leak and Bob doesn’t get it fixed quickly and as a result your tenant has all his carpets ruined? Who gets to pay? You do. Sure, you may even have insurance, but try arguing that one with your insurance company if they say that you are not covered because you don’t have a professional in charge.
Suppose there is a problem and the tenant calls your “manager” Bob, but Bob is off on vacation in Europe for two weeks. Then what? You can see where we are going with this, and you would obviously expect us to say all this, but the fact is that it’s true. There is no substitute for having a McKinney property manager or property management company looking after your property.
Here’s another thing. If there is a problem and your friend Bob doesn’t get it sorted out – no matter what the reason – your friendship could come to a very sticky end, which is not what either of you would want. You are far better off using professional services.