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I think a Landlord should always make use of a Property Management Company as they are able to manage the property more efficiently from an accounting perspective. Also they usually offer rental inspections in their service and this can ensure that the Landlord's property is not being damaged by the tenant, thereby ensuring the Landlord's investment does not become a liability and is kept in a state of good repair in order to achieve the best rental rates. When there are repairs required to be made, the property management company usually has a list of preferred suppliers where they negotiate competitive prices based on the work volume and can ensure that the work is of a high calibre as the contractor would not get repeat business if it were not. Insurance claims where necessary are also facilitated by the property manager. The Landlord usually has his / her own day job and these types of services above become arduous for the Landlord to manage if he is not attending to it on a full time basis but trying to fit it in with his normal work demands.
At all times. A skilled property manager who delivers a professional and honest job will increase the return on the property and its value in the long run.
A landlord should heavily consider to hire a property manager if he has many rental units. Another reason would be if the landlord is daunted by the practical and theoretical work in estimating costs. A lanlord should also consider to hire a property management company if he wants to maxisimise his income.
