There a number of reasons why hiring a property management company may make sense.
Time-Savings. Managing the day-to-day activities associated with managing your property and tenants can be time-consuming, especially if the property owner has multiple properties or a busy schedule.
Expertise. A property management company has a team of professionals with the knowledge and experience of the local market, which can help maximize rental income, minimize unnecessary expenses and vacancies. They also hand legal matters to ensure you are compliant with state and local laws and regulations.
Marketing. A property management company has the resources and expertise to effectively market a property to attract high-quality tenants.
Maintenance & Repairs. Property Managers have a network of licensed professional, which can help keep the property well-maintained at a lower cost than owner's can typically do on their own.
Tenant Management. A property management company manages the relationship and communication with your tenants, so you don't have too. A Property Manager has the fiduciary responsibility of protecting your best interest.
Rent Collection. A property management company can handle the collection of rent, making sure rents are paid on time. They can also handle late payments and evictions (if necessary).
Legal Compliance. A property management company is up-to-date on the various state and location and regulations that apply to rental properties, and ensure that the owner's property is compliant. As licensed real estate professionals they have access to an extensive network of legal resources provided by the National Association of REALTORS (NAR) and California Associations of REALTORS (CAR).
Overall, partnering with a property management company can help you maximize the return on your investment, while minimizing the stress and off-loading the responsibilities associated with managing your property. It can be a great option for property owners who are not able or willing to devote the time and effort required to manage the property themselves.
Learn how Sea To Summit Properties can help you better manage your properties. We are a real estate/property management resources here for you.