Working with a professional property management company can increase your bottom line, whether you’re renting out one home or an entire portfolio of investment properties.
We save you money on maintenance, vacancy, and tenant turnover. We help you avoid costly legal mistakes and tenant disputes. Smart investors know that professional management comes with a long list of benefits. We’re highlighting a few of those advantages today so you know what to expect when you work with professionals who understand the San Diego and Riverside rental markets.
Professional Management Removes Emotions from Rental Property
Professional property management companies care about your property, but they know how to eliminate emotion from the equation. As an investor, it can be easy to get emotionally involved with your rental property. This is understandable as you may have spent a lot of money to make it rent-ready, and you have expectations for how it will look and perform. It’s hard not to take it personally when a tenant doesn’t have the same standards of cleanliness as you or when you drive by and you don’t like what they’ve done with the flower beds. You might also find yourself willing to let rent come in late because you “like” your tenants.
Your rental property is a business. A property manager will treat it that way and avoid making decisions based on emotions or fears. The benefit is that you have a buffer zone between you and your tenants.
Reducing Liability and Risk
Owning rental property in San Diego and Riverside counties comes with risk, mostly because of the tenant-friendly laws in California that protect your residents. If you don’t know the federal, state, and local laws associated with renting out a home, you have the potential to find yourself in trouble. You’ll need to know the security deposit and habitability requirements, and you’ll need to make sure your lease is legally enforceable and compliant. You need to follow the changes in rent control and just cause eviction and Section 8 housing vouchers. You need to know how easy it is to make an innocent but expensive mistake.
The laws are changing all the time, and you need to keep up. A professional property manager will understand what’s required and protect you from breaking a law or falling out of compliance. Your property will remain safe and habitable, and you all of your responsibilities will be met.
Maximizing your Return on Investment
Many rental property owners hesitate to hire a management company because of the cost. However, management fees are pretty reasonable, especially when you consider the value you’re receiving for them. Your property manager handles the day-to-day activities at the property, and you also earn more money. Professional management increases ROI by:
- Reducing vacancies.
- Increasing tenant retention.
- Accurately establishing a rental value.
- Saving money on maintenance with preferred vendors and preventative attention.
- Protecting the condition of your asset.
- Avoiding things like late payments and evictions.
The management fees you pay are usually tax deductible on rental properties. That savings means your professional services practically pay for themselves.
These are just a few of the benefits professional property management in San Diego and Riverside counties can provide. If you’d like to hear more about how we can help you have a better and more profitable rental experience, please contact us at RentSimpli.
RentSimpli is a full-service property management company serving Riverside & San Diego counties.