Property Management – Woodland Hills

Woodland Hills Property Management

When to Use a Property Management Company

• A property manager can be of benefit if you own property and do not live close to it, or if your time is limited and being a landlord is not your day job.
• Hire a property manager when rental properties are your business and you need help to manage your properties efficiently.
• If you do not wish to be an employer, contract with a property manager. The manager is an independent contractor, which means you do not have to deal with payroll or the legalities of hiring employees.
• If you participate in an affordable housing program, contract a property manager with experience in this type of housing.

Advantages

• A property manager thoroughly screens applicants by looking at applications and checking a tenant’s background. This can result in less problematic tenants who pay on time and cause less wear and tear to the rental property. Having a property management company take care of screening tenants protects you from rental scams and discrimination lawsuits that may arise from the screening process.
• Property managers have knowledge and experience with landlord-tenant laws. State and federal laws cover tenant screening, safety and conditions of the property, evictions, inspections, lease addendums, lease terminations, security deposits and rent collection. Avoiding lawsuits can spare you anxiety.
• A property manager helps you prepare your property for rental, including making cosmetic improvements. She also helps you determine the best rental rate because a property manager usually knows the local market and has access to rental rate tools. This person can also advertise your property to attract a large pool of candidates in a short period of time.
• The property manager can ensure better rent handling. He is the one in charge of listening to tenant excuses and chasing down rent payments and evictions, if necessary.
• Property managers can help you with the necessary tax forms and documents to claim deductions. The property management fee is tax deductible.
• The property management company has in-house maintenance staff and has access to contractors that can take care of maintenance issues, which may cost you less in repair costs.
• Using a competent property manager gives you more freedom. You are not obligated to live close to your properties. Leaving the rental details in the hands of a property manager leaves you more time to spend with family and friends.

Disadvantages

• Cost: Hiring a property manager can be costly; some charge a percentage of your income and may charge a leasing broker fee.
• An incompetent property manager can cause you stress. An uncaring manager may be negligent and irresponsible when it comes to making repairs and informing you of serious problems with the property.

By: Maria Benton, experts.merchantcircle.com

Carnahan Property Management services Woodland Hills,West 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, West Lake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 and check if we can serve your area.