Property Manager – Porter Ranch
WHY SHOULD YOU HIRE A PROPERTY MANAGER
For those that have owned residential rental property, you know personally managing a property, especially from a distance is no easy task. But in the long run, owning investment property can reap a great consistent financial reward. From obtaining rent checks, maintenance, and marketing property, one thing is certain…property management is a time commitment. This is where hiring a professional comes in and can alleviate your stress.
Great property managers are good communicators and coordinators, as they must deal with the day-to-day tasks of handling issues with tenants, staying up to date with regulations, and making sure proper maintenance is being done to increase the longevity of their clients’ property investments.
Here is how a Property Manger can help you reap an investment while maintaining peace of mind.
1. Finds Quality Tenants
Property managers have access to multiple venues for marketing properties, not available to those without experience or expertise in real estate. They have spent years’ fine tuning their skills to market rentals, as well as finding high quality tenants. Any property manager can fill a rental, but a great property manager knows what to look for in a quality tenant that will respect your property and not cause issues that may increase your cost to maintain the property.
They do income qualifications, run background checks, rental histories, and view credit history on all applicants to ensure the tenant meets your requirements for your property. Property managers also protect you from discrimination lawsuits that can occur when someone unexperienced or uninformed screens tenants improperly.
2. Handles the Paperwork and Details
Owning investment property can come with an overwhelming amount of paperwork. From collecting monthly rent to the leasing process.
Collecting rent consistently is what allows you to have consistent income coming in from your property. It is the manager’s job to communicate with tenants about due dates and the consequences of late payments, putting a buffer between you and the tenant. In the case a tenant does not pay, it is the property manager’s job to evict when necessary, so you do not have to be the bad guy.
Another headache for property owners is the task of maintaining the property. With a property manager, they are the ones called at all hours of the day and night when something stops working. Utilizing the vendor network of a property manager allows the repairs to be done in a timely fashion (making the tenant happy) and saving money as they are able to make sure the repairs were done correctly due to their construction knowledge and they may be able to negotiate bulk savings.
Property managers also have the expertise and training on housing and tenant laws. If you have investment property far away from your current location, having an expert of the city and state laws is essential. You do not want to be subject to a potential lawsuit from a lack of knowledge. From laws regarding rent collection, property conditions, leases, and tenant screenings; there are many areas you can be left vulnerable.
3. Maximizes your Time & Investment
Ultimately, hiring a great property manager will save you time, headaches, and most importantly, get you a better ROI than you would be able to do yourself. Typically, property managers change a percentage up to 10% of your monthly rental rate for their services, which usually is less than the money you would spend to maintain the property yourself.
Property managers handle all of the hard issues, so you do not have to. They handle communicating with you about your property and give you the foresight of upcoming repairs. These managers are constantly checking on your property, ensuring you get the most bang for your buck in your investment.
From: https://mcallenrentals.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.
