Countless people are in a position to purchase investment property, yet do not, because they dislike the idea of having to deal with the property. My own father bolted at the notion of having to rent out apartment units, repair leaking water heaters, and resolve tenant issues. It wasn't until I was old enough to take part that he actually made an investment in real estate.

These concerns about becoming a landlord are shared by others. Today, many people, not unlike my Dad, prefer to keep their money in the bank rather then to own rental property. Even if it means collecting less of a return (which it does), they are at peace with pigeonholing the money because they have no stomach for the investment alternative. They simply do not want the "dirty work" of hassling with the tenant and property-management issues inherent to real estate investing.

The premise is valid. Investment real estate does present management challenges and becoming a landlord may not be a bed of roses. Fortunately, it is also true that property management companies can be hired to help run the property. Hiring a property manager is a proven way for owners who do not want to be bothered with the day-to-day activities the ability to own investment property without having to deal directly with the unpleasant and tiresome details associated with rental-property management.

The cost of professional property management must be factored in, and it does require research to locate a trusted local property management company, but it is not beyond reach and certainly worth considering. A good property-management company can typically keep the units rented at market rents, vacancy as little as possible, and expenses controlled and on budget. Better yet, because they do the dirty work, you can spend more time with your family.

I am not a property manager, nor have I played one on television. My expertise is real estate investment analysis. Still, knowing how reluctant some are to start real estate investing due to property-management issues, it seemed suitable to share the beneficial option of professional property management.