Owning real estate as rental property can pose its own set of rewards and challenges. Many real estate investors want the financial benefits of owning rental property but don't feel compelled to handle property management on their own.

If you do not want to manage the property on your own, you may consider hiring a professional property management firm to handle common issues, such as:

• finding and qualifying renters
  
• collecting rents
  
• managing contractor service providers who might improve or maintain the rental property
  
• and a wide variety of other tasks associated with owning rental property.