Residential rental property is an excellent long-term investment for many people. According to data from the Federal Housing Finance Agency (FHFA), the median home price has more than doubled in the United States over the last 25 years. In some markets, such as in Southern California, the property prices have gone up even more rapidly than that.
At the same time, owning residential rental property can be a day-to-day hassle. It can take a lot of effort to protect and grow your investment. This is where working with an experienced rental property professional makes all of the difference. In this article, we highlight seven primary advantages of hiring a property management professional in East San Gabriel Valley.
Seven Benefits of Hiring a Property Management Professional in East San Gabriel Valley
1. Guidance With Marketing, Advertising, and Preparation of Your Property
East San Gabriel Valley is a competitive market. New units are going up on a monthly basis. Getting the most out of your rental unit starts with putting your property in the best possible light. Effective marketing, targeted advertising, and careful property preparation makes an enormous difference.
Additionally, a professional can also help you determine the right monthly rent rate for your unit. With a comprehensive analysis of your individual unit, the surrounding school districts, the access to public transportation, and all other relevant factors, a Glendale property management professional will make sure that you are setting the proper price for your unit.
2. Comprehensive Screening of Potential Tenants
One of the biggest benefits of hiring a property management professional is that you will get access to thorough tenant screening and tenant selection services. For rental property owners, few things cause more stress than getting stuck with an unreliable tenant. At Real Property Management, we always conduct in-depth background checks on potential tenants. Among other things, we screen for:
- Credit history;
- Criminal history; and
- Prior problems with landlords.
You must comply with all applicable state and federal regulations when screening potential tenants. A property management professional knows how to do it. Of course, you get to make the final choice on whether or not you are comfortable with a particular tenant. Fit matters. It is a property management professional’s job to make sure that you have all of the information that you need to make the right decision.
3. You Do Not Have to Draft Your Own Rental Lease
Lease preparation is an important part of property management in Southern California. A relationship between a landlord and tenant is governed, in large part, by the rental lease. Your rights are only as strong as your lease. A flawed lease could cause you serious problems if you get into a conflict with your tenant down the road. With a property management company in East San Gabriel Valley, you do not have to worry about drafting a lease. Your management professional will make sure that the rental agreement is done the right way.
4. No Need to Deal With the Day-to-Day Hassle of Property Management
Residential real estate is a time-tested investment. Over the long run, a rental property can provide major dividends to you and your family. Nonetheless, managing a property on a day-to-day basis can be a hassle—particularly if you have a full-time job or other obligations. A property management professional can take care of all of the day-to-day tasks that come with managing a rental property, from making sure that rent is collected on time to taking action to addressing any issues raised by tenants.
5. Access to Better (and More Cost Effective) Maintenance Services
With rental property ownership, maintenance is simply a part of life. By preventing problems and fixing them as soon as they arise, you can save yourself a lot of money in the long run. A benefit of hiring a property management professional is that you do not have to worry as much about maintenance. For example, finding and hiring the right contractor is a pain—especially if you have multiple tasks that need to be completed. With well-established relationships with contractors and vendors, property management companies have access to better (more cost effective) maintenance services. At Real Property Management, our local property management professionals have pre-existing relationships with nationally recognized contractors and vendors.
6. Maximize the Total Return on Your Investment
Residential real estate is an investment. Whether you just came into your very first rental property in Southern California or you are a seasoned real estate investor, you undoubtedly want to get the most out of your unit. By minimizing your costs and maximizing your returns, a top property management professional can help you do so. When you do all of the little things right, the cost savings can really add up in the long run.
7. Protection if Something Goes Wrong (Evictions)
Finally, it is important to emphasize that a property management professional will protect your investment. Even with intensive screening, there is always the possibility that some could go wrong. Unfortunately, in some cases, you may end up with a tenant that needs to be removed from the property. As noted by the California Courts, the state has very strict rules and regulations for residential evictions. Should removal of a tenant be necessary, a property management professional can take care of the matter in an efficient, effective, and legally compliant manner.
Get Help From Our Property Management Team Today
At Real Property Management, our East San Gabriel Valley property management team provides professional and reliable services to rental property owners. You can leave the hard work up to us. We will help you get the most out of your residential rental property. Contact us today to set up a free, no obligation assessment of your rental property. Our team is ready to get started. We provide property management services throughout all of East San Gabriel Valley, including in Glendale, Pasadena, Burbank, Arcadia, Moorpark, Rosemead, Alhambra, Glendora, El Sereno, and Temple City.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.