Property Manager – Encino

Why Hire a Property Manager ?

Probably one of the biggest decisions a landlord can make is whether or not to employ a property management service to handle their investment properties. A number of landlords are able to manage their properties by themselves or with help from an employee or resident manager. But sometimes as a landlord you just can’t keep up, and you may find that you need some more help, and that’s when hiring a property management company could be a very wise decision.

There’s no doubt that a property management company can prove to be an asset to your business, but it’s not a decision to take lightly. And, of course there are some other reasons why you may not want or need one as well. Review the 8 factors below to help you decide if employing a property management company is the way to go for your business.

So What Exactly Does a Property Management Company Do?

Property Management companies act as the middle-man and deal directly with all of your prospects and your tenants, saving you the time and worry over trying to market your rentals, handling repair and maintenance issues, collecting the rent money, dealing with tenant complaints, and even serving eviction notices and seeing the process through. A good management company also brings their experience and know-how to your property, giving you the ability to rest assured knowing your investment property is in good and able hands. And lastly, management companies operate as independent contractors, so you can avoid all the hassles of being an employer.

When To Hire a Property Management Company

There are a lot of advantages of hiring a property management company, although it might not be for everyone. There are plenty of things to consider before making the decision, and while it’s not right for everyone, at least putting some of their practices into your business plan could be very advantageous and help increase your take home profits.

Most people will start to consider hiring a property management company when they have multiple rental properties. If you own 2 or 3, you might not see any advantage of property management companies. But if you own more than 4, and the task of running and keeping up with all your properties has become a full time job on its own, you might just benefit from having someone else manage your properties for you. As a general rule of thumb, the more rental properties that you manage, the more you need a property management company.

Another reason to hire a property management company is if you’re not living near the rental properties. This gives you peace of mind know that there is someone local with your property that can stop by and check the condition of the property for you, as well as being able to deal with issues that you might not be able to handle from far away, such as scheduling repairs and service, especially when the home is currently not being rented. With property management companies, the tenant will call them up instead of the homeowner, and the property management company already has permission to perform certain repairs up to a pre-designated dollar amount that the owner chooses.

Some people are simply not interested in managing their own rental properties, have no clue how to, or simply just don’t have the time to manage them. This is another good reason to hire a property management company, as they specialize in handling rental properties. Most of the people in this category purchased the home as an investment, and have no desire or skill with running the day to day aspects of your property could greatly benefit from a property management company.

Others are simply do not have the time to dedicate to their rental properties. Again, this is common for those that have multiple properties, but also could be that the person has 2 homes, is renting the second out to make the payments, and is working full time. They simply do not have the time to dedicate to the rental property to ensure that it is being well kept, and safe. Many people simply do not have the time to manage properties, unless they maintain properties as their main job. Even landlord’s love property management companies, because it gives them time to grow their business, and invest in other rental properties, without having to worry about the properties they already own.

Another reason, simply put, is that you can afford a property management company. This is another reason to hire one. Managing your own properties is going to be time consuming. On average, property management companies will charge between 5-10% of the rent revenue. Depending on your market, and the amount of rent charged, you might be able to afford it and not even realize it. Being able to hand over control of your rental property frees you from the property, frees your time up, and gives you peace of mind knowing your property is cared for.

One more reason to hire one is so you’re not suddenly slammed with what seems like a mile long list of management tasks. When this happens, you will most likely feel overwhelmed. We can help by handling all those tasks, giving you the time to handle what you need to handle, and take care of your day to day business. Property management companies have the manpower and connections to help manage and run everything smoothly.

You should hire one if you don’t want to be an employer. Running and managing more than one property can quickly become a full time job, and if you don’t want to hire your own staff, and have to deal with that, including getting your own business licensed, managing payroll, and other legal requirements. By hiring a property management company, you avoid the hassle of trying to start your own business, and managing that company as well as the rental properties. Let us handle everything with our experienced staff.

If you own any affordable housing program property, you really need a property management company. To qualify, the landlord has to rent at least a part of the property to people living under a certain income level, and the landlord receives special financial assistance. Because of this, the landlord has to not only meet a complicated set of requirements, but also maintain them. Because of this, hiring a property management company is very advantageous, since they have plenty of experience with not only finding but keeping renters in homes under these stipulations.

From:http://www.americanrealtyrentals.com/

>Carnahan Property Management Services Woodland Hills,West Hills,Bell Canyon, Hidden Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando Valley, Granada Hills, Mission Hills, Simi Valley, WestLake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 to check if we can service your area. 60+ years of service.