If you’re about to become a landlord for the first time, you’re probably feeling a bit anxious. Especially so if you’re someone who recently inherited a property and you’re a landlord now whether your want to be or not.

Or perhaps you did it the old fashioned way and started a search on your own for ause a property manager real estate investment that will appreciate over time and provide you with a monthly cash flow. Once you found your investment and either kept the tenants currently occupying the property or finding new ones, you’ll now collect the rent, keep the property maintained and pay the mortgage. If you have just one property, being a landlord is something you can likely do on a part time basis. As you increase your holdings however, it may be time to hire a property manager. Or should you hire a property manager regardless of how many you own?

The first time landlord will typically get to know the tenants very well. After all, you wanted to make sure they had good credit and could afford the monthly payments so you got to know quite a bit about them before they ever moved in. You got to know them on a first name basis and had the habit of dropping by every other week or so to see how things were doing. But watch out. Don’t get too personal with your tenants. Certainly be nice and be courteous, but remember being a landlord is a business function, not a social one.

Imagine for a moment that you and your tenants are pretty tight. You chat a lot on the phone and they’re Facebook friends. But then there’s a problem. It seems the rent check didn’t come in on time. You wait a few days and finally make a reluctant call wondering where the rent is. You’ll get an explanation and you want to believe them so you let it slide. But the next check is late. And so is the next. But because you’re such good buddies you don’t want to make a scene and the tenants begin to take advantage of you.

Do you see how this can happen? It’s similar to renting to your nephew who never pays, what can you ultimately do, kick your brother’s kid out of the house? To avoid unpleasant situations, strongly consider hiring a property manager no matter how many rentals you own.