Residential real estate is a tried-and-true investment. At the same time, property management has the potential to be a day-to-day hassle. A professional can take responsibility for the most complicated and time-consuming tasks—allowing you to get the most of your investment. You may be wondering: Why should I use a property management company? There are many advantages to working with a professional property manager. A great property management company will help you get the highest possible monthly rent from a reliable, trustworthy tenant who treats your property well.
An Overview of the Responsibilities of a Property Management Company
Whether you are a first-time property owner or you are an experienced residential real estate investor with a massive portfolio, you can hire a property manager to take responsibility for many day-to-day tasks. Property managers exist to make life easier for you and your family. Among other things, the responsibilities of a property management company include:
- Marketing & Advertising: You need a tenant in your property. Great marketing and advertising can be the difference between having a vacant property and getting the top of the market monthly rental rate. A property management company can take full responsibility for marketing & advertising, including conducting in-person showings.
- Tenant Screening & Leasing: A property manager will make sure that you have the right tenants. The last thing you need is a tenant with a history of misconduct, non-payment, or other issues. Property management companies can take responsibility for tenant screening and drafting/handling the lease agreement.
- Rent Collection and Accounting: Rent collection can be another burden for property owners. If you do not want to deal with it, you can hire a property management firm for monthly rent collection. Full accounting services are available.
- Property Maintenance: Property management companies can also take care of all maintenance issues. Depending on your needs, this can include connecting to contractors for ongoing maintenance services or dealing with short-term emergency situations.
- Eviction: There is always a risk that you will need to evict a tenant—especially if you own a large portfolio of residential real estate. As there are strict rules and regulations regarding tenant evictions, it is essential that you handle these matters with care. A property management company can take responsibility for tenant evictions and/or tenant replacement.
Every rental property is unique. A top property management company can customize its services to meet your needs. In some cases, property owners simply want help with marketing, advertising, showings, and lease agreements. In other cases, property owners want fully comprehensive services, including rent collection, maintenance coordination, and lease renewals.
Get Help From Our Ventura County Property Management Professionals Today
At Real Property Management, we are committed to protecting your investment, maximizing your returns, and minimizing the disruption to your day-to-day life. If you have questions about how a property management company works, we are happy to help. Contact us now for a free assessment of your rental property. We are proud to provide residential property management services throughout East San Gabriel Valley, including Burbank, Glendale, Pasadena, and San Gabriel.