Don't assume that a top property management company is only for those who are renting out large numbers of properties. In fact, many property management companies specialize in working directly with owners who want to rent out one or two properties at a time. If you've decided to rent out your home or your apartment, there are many advantages to hiring a professional service rather than doing it yourself.

1. Property Management Companies Vet Tenants 

Running the appropriate background checks on each tenant is the most important part of the rental process. Without the right renters, you could face late rent, eviction, and property damage. Property companies are experts in conducting credit and background checks and identifying high risk tenants. Moreover, property management companies won't get emotionally involved -- they can remain objective and professional.

2. Property Management Companies Collect Rent

Collecting rent is one of the most difficult situations for an inexperienced landlord. Not only will you have to get tough with some clients, but you also need to be very persistent -- and that takes time. If you don't want to spend hours hounding your tenants for their rent every month, you can instead have the property management company do it for you. This will free up your time for more important things, such as managing your own business or career.

3. Property Management Companies Handle Legal Issues

There are many legal issues that a DIY landlord could potentially run into. Landlord-tenant laws and regulations make it so that there are many things you need to provide for your tenants that you might not even be aware of. A property management company will help ensure that you don't break any laws.

4. Property Management Companies Deal With Emergencies

If you don't want to be woken up int he middle of the night, a property management company is the answer. When your rent house is flooding or the power is out, your tenant is going to call you. And you need to address these issues as soon as possible if you want to avoid damage to your property and keep your tenants happy. A property management company will handle these types of emergencies for you -- and at the most affordable prices.

DIY landlords often find that the process is more complicated than they would like. By using a property management service, you can substantially simplify your life in return for a low monthly fee. Property management companies are able to save money on their overhead and perform more efficiently than a single owner, thereby saving you money long-term.