Home » Property Management: The Perfect Side Hustle for a Stay-at-Home Dad

Property Management: The Perfect Side Hustle for a Stay-at-Home Dad

Property management is one of the most flexible part-time occupations that stay-at-home parents can rely on. Although being a full-time father doesn’t leave much free time to earn additional income for your family, property management is the perfect opportunity if you wish to expand your horizons and take a part-time job.

A part-time job doesn’t take a lot of time to complete. You will spend around four hours per day working, so you have the time to pick your kids up from school, do the chores, and run errands. Therefore, it’s ideal for a stay-at-home parent already preoccupied with caring for children.

Although your spouse may already be the breadwinner in your family, it’s understandable that a person would want to have a separate income or a fun job to pass the time. Either way, property management is the perfect solution for your problem if you like marketing, negotiations, and the real estate industry.

What is Property Management?

Nearly everyone knows about property ownership, landlords, and tenants, however, many people don’t know about the property management business. 

Property management firms assist property investors with their issues. Property managers are professionals in the field who market properties for investors, generate leads, attract applicants, deal with contracts and leases, and help property owners take care of property inspections and property maintenance issues, as well as necessary property remodeling and reconstruction.

Most of the time, property owners hire property managers to simply help them with generating leads. Therefore, most of the time property managers market the properties to attract applicants the same way that realtors market properties to attract buyers. However, many of the investors keep partnerships with property managers for the professionals to deal with tenants, maintenance, legal issues, etc.

Therefore, if you are not ready to invest in a property, since it is associated with huge expenses, but you think you can handle managing tenants, maintenance, and marketing, you can always start a part-time job as a hired property manager to manage properties for other investors. 

Or outsource it? Strata management Gosford oversees the maintenance and administration of shared properties, ensuring they are well-managed and maintained for residents.

What to Consider Before Managing a Property

Before you begin to work as a property manager while you are still a stay-at-home dad, you should think about the role of a property manager.

Property managers are required to market the property and generate leads. As a property manager, the investor relies on you to get applicants to become interested in the property. You will have to deal with social media and online marketing, as online advertising is the most efficient way to gain attention today. The social media presence will help you reach younger audiences and first-time renters.

Secondly, property managers are often required to complete the lease agreements. You need to negotiate the terms and the policies with the tenant and the owner and ensure that they are on the same page. As a property manager, you can advise the property owner on what will help them gain more profit and what will be more beneficial for them and their business.

As a property manager, a property owner might ask you to help them calculate and determine the rent price. You will have to learn quite a lot about the market and the rent prices in your region.

Property owners are responsible for property maintenance and property taxes. Therefore, when a landlord hires a property manager, they expect the professional to take care of these issues whenever necessary. So you should expect calls from the property owner asking you to help them with property maintenance, finding contractors, dealing with payments, and property taxes.

Another one of the property manager’s duties is collecting rent and taking care of finances. You will have to set reminders and collect rent from tenants monthly. You will have to set the budget for necessary maintenance, remodeling, and tax expenses as well. Therefore, be prepared to keep track of payments and expenses. 

A stay-at-home dad can take care of these responsibilities from home. As a property manager, you can work remotely. Marketing properties on social media doesn’t require sitting at a desk in an office. You can also collect rent via online transactions. You might have to attend meetings occasionally, but in today’s world, you can even attend these meetings online. However, you will have to check up on the property every once in a while.

Benefits of Property Management as a Side Hustle for a SAHD

If you want to have property management as a side hustle, you are in luck. Property managers can easily navigate their jobs and balance their work life with their family life. The reason why many parents choose to work as property managers part-time is its benefits.

Flexible Hours

Property managers have the liberty of flexible scheduling. As previously mentioned, you can market the properties from home and put up listings on websites without getting up from the couch. 

However, when you have to attend meetings, check up on the tenants, and oversee the contractors working on maintenance issues, you can schedule the hours. A stay-at-home dad who works as a property manager only has to spend a couple of hours a week away from home.

Reliable Income

The main reason why many stay-at-home parents want to work part-time is their income. Many stay-at-home parents don’t have partners to bring income to their households, while those who do have such partners, wish to have their own additional income to help lessen the load. 

Property management will help you earn a reliable monthly income to spoil your children while spending a lot of time with them.