If you’ve entered the field of real estate investment by purchasing a rental property, you may feel daunted at adding the handling of your tenants’ day-to-day needs to your list of existing responsibilities. Professional property managers can help to ensure that your property remains in good condition and that your tenants’ requests are handled in a timely manner. Learn more below about the different benefits of hiring a property manager.
Are you a good candidate to hire a property management company for your California investment property?
Certain types of owners may benefit more than others from using the services of a property manager, including the following:
- Owners of several properties or multi-unit buildings: While handling the occasional needs of one tenant may not require a large amount of time or attention, owning one or more buildings or multi-unit properties will multiply the work involved in keeping these properties occupied and in good condition. Hiring a property management company will reduce the amount of time an owner spends traveling between properties and handling individual complaints.
- Inexperienced rental owners: Not all real estate investors have the time to locate and screen tenants to occupy their rentals, nor to become versed in the intricacies of California landlord-tenant law. Property managers are seasoned in finding qualified occupants and ensuring that properties are rented and managed in accordance with applicable laws. California closely regulates the profession of property management, requiring all property managers to obtain a license before entering the field. Qualified property management companies will capably ensure that landlords are in compliance with fair housing laws, rent control ordinances, and state and local laws surrounding security deposits.
- Owners who don’t live near their rental property: Responding to tenant complaints and monitoring the condition of a rental property takes effort for even local owners, but it can be impossible for an owner who purchased a rental in another city. Property managers can provide these eyes and hands on the ground to handle emergency maintenance requests, meet with and screen tenants, handle move-in and move-out days, and monitor the condition of the rental property on an owner’s behalf.
If you’re a real estate investor in Southern California facing legal issues surrounding real estate purchase or sale, title, or contractor disputes, contact the seasoned and professional San Diego real estate attorney Jon Alan Enochs for a consultation on your case at 619-421-3956.