There are a number of reasons to need or want a property manager in South Bay CA. Most individuals who need a property manager are people who are using the current housing situation to allow themselves to build an income property portfolio. There are others who have had to accept a job elsewhere that do not have enough equity in their home that allows them to sell it. Therefore, they look to rental options of their home in order to maintain equity and a clean credit record.The property managers function:
A property manger takes aboard all the responsibilities of renting and maintaining your property. Their responsibilities include marketing the property, screening potential tenants, collecting the rent, arranging and overseeing repairs, and evicting tenants when required. When you sit with a property manager in South Bay CA to determine a contract, it usually contains all the rights of the manager, including a dollar limit on repairs that can be authorized before contacting the owner.
If you are a major investment property owner, you will usually reside somewhere other than where your property is located. Even if you live near your properties, you may not have time or want to make time to look after them; this is particularly true if you have multiple properties. To maximize your investment in property, you will want the right tenant, and you will want maintenance and repairs done at the lowest cost. You will want the rent collected on time and deposited in your account.
The contract between the owner and the property manager specifies what is to be done. All aspects of the agreement are spelled out in detail, and a fee is established for the various services. The fee is usually a percentage of the rent collected and varies depending on the services rendered. If the owner wishes to make all disbursements, including paying the repair and maintenance bills, this will be reflected in the monthly fee.
What to consider:
As you think through whether you need a property manager or not, consider the intangibles that usually require local knowledge. Do you know how to market the property? Can you perform background checks, credit checks, and criminal checks on prospective tenants? Do you know the best service suppliers and contractors to maintain the property? Do you have the confidence and personality to knock on the door, demand the rent, or evict the tenant for non-payment or other lease infractions? If you answered “no” to even one of those questions, then you are not going to do yourself justice by managing your own property.
The benefits to hiring a property manager are both time and money. The manager will save you the aggravation, the travel time, and the poor judgment calls that will end up costing far more than their services.
To get the best property manager in South Bay CA, contact the experts at Real Property Management – Titanium, South Bay.