IREM Certified Property Manager (CPM) Practice Test

Question: 1 / 400

What is one potential disadvantage of hiring contractors for property management tasks?

They may require more training

They often have high hourly rates

One potential disadvantage of hiring contractors for property management tasks is that they often have high hourly rates. This aspect can significantly impact the overall budget for property management, as the costs can accumulate quickly based on the number of hours worked. Additionally, while contractors may bring specialized skills, their higher rates can pose a challenge for property managers who need to keep expenses in check and maximize profits. This cost consideration is crucial for property owners and managers to assess when deciding whether to outsource specific tasks or keep them in-house. The other options may address various concerns regarding contractors but don’t align as clearly with the financial implications that arise from high hourly rates.

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They are typically less skilled

They lack the necessary licenses

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