Welcome to San Diego Blog | November 4, 2017
Top Reasons You Need a Property Manager for your Investment Property
Owning a rental property can be a fantastic investment, or a catastrophic headache! Having a professional property manager in your corner will almost certainly alleviate this headache for you in the following ways:
No more Midnight Emergency Calls
There is a problem at your rental at 2am and as the landlord it is your duty to get the job done! With a property manager, say good-bye to receiving a call in all but the most extreme situations.
Do you know all of your local, state and federal housing laws?
Chances are probably not! Fair Housing laws are updated all the time and you must adhere to them to avoid a costly lawsuit. A professional management company engages in continuing education and is very knowledgeable about tenant landlord laws.
Regular Maintenance and Repair Assistance
A professional management company will have a network of contractors that they have a working relationship with, ensuring quality work at fair prices. A management company can also assist in the regular maintenance of the property through a detailed work order system.
Tenant Sourcing and Screening
A property manager will have access to a wide network of tenants and advertising sources, helping you keep vacancy rates low. They will also be a great deal of assistance when it comes to tenant screening and as property managers deal with this almost every day, they know what questions to ask and what to stay away from!
Capitalize on Your Investment with an Area Expert
According to a survey conducted by Rent.com, 85 percent of property managers reported raising their rental rates last year. An area expert who knows your neighborhood will help you capitalize on your investment each year, without scaring a tenant away with an unrealistic increase. You bought an investment property, so you should treat it like a business!
Stop Being the Bad Guy!
As a landlord, it is up to you to enforce the rules established in your lease agreement, and unfortunately this is usually not fun at all. Having a professional property manager will mean they play the referee and ensure the lease is enforced and you never have to deal with an angry tenant yourself.
Let them do the monthly rent collecting!
Have you ever heard “The check must have gotten lost in the mail!”? As an investment property owner you expect your investment to pay out each month and you don’t want to spend your valuable time tracking down a check, or even worse never getting paid and having to start an eviction! A professional management company will take care of the rent collection for you and ensure you are paid on time each month.
Freedom to Invest in ALL Markets
Having a property manager means that you do not need to live anywhere near your rental property, allowing you to invest in markets you do not live in (or want to!). This advantage means you can invest in a more affordable part of the country, or in an expanding market with huge upside and know that your property will be well taken care of.
As you can see there are quite a few ways that a property manager can be a valuable asset to you, and this is just a sample of the many ways they can be invaluable to you. If you own rentals and are feeling overwhelmed, do yourself and your tenant a favor, and call Welcome to San Diego Real Estate. You won’t regret it!