Becoming a rental property owner can be a lucrative way to generate income, but it also comes with quite a bit of responsibility. Fortunately, your real estate investment can be virtually hassle-free if you hire the services of a property management company like us. As professionals, we take over the day-to-day duties of managing a property, so our clients avoid having to oversee every small detail or respond to each tenant emergency.
Below, we explain some of the benefits a property manager will offer:
- Determine Rental Rates & Collect Payments: Property management companies are familiar with the rental market and understand how homes and apartments should be valued. They will help set a reasonable rental rate that won’t be so high it turns potential tenants away but high enough to produce revenue. Also, they handle collecting rent on time and enforcing penalties for late payments.
- Screen Tenants: One of the biggest challenges of being a landlord is finding quality tenants. Property managers have a process for screening applicants which allows them to set the suitable candidates apart from the controversial ones. This is crucial, as it can mean the difference as to whether or not you have renters that pay on time and cause little to no damage to the property.
- Market Your Property: The only way to make money from your rental property is if you keep vacancies to a minimum. This means getting tenants to stay long-term and getting new renters as soon as possible after someone has moved out. A property management company has experience in both tenant turnover and marketing rentals in a way that showcases their most appealing features and reaches a higher percentage of prospective tenants.
Whether you have no experience being a landlord or you simply don’t have the time to take on the workload it requires, hiring a property management company will help to ensure your investment stays in top condition and continues to be profitable. Contact us at (916) 685-6601.