Professional property managers offer a number of benefits for property owners. From handling marketing and tenant placement, to processing rent payments and answering repair calls, property management covers a wide assortment of important tasks. Of course, working with a property manager in North San Diego County isn’t free, which leads some homeowners to wonder whether it’s worth paying for this service.
If you’re debating whether you need a manager for your rental home, use the following information to help guide your decision.
How Much Will You Lose During Your Home’s Vacancy?
Finding the right tenant requires a lot more than simply slapping a status up on social media and hoping for the best. On average, it takes a rental home 30-60 days to find the right tenant. During that time period, you aren’t earning any rental income, eating into your profits.
At Real Property Management, we utilize an impressive array of tools to connect with potential tenants quickly, including digital listings and traditional advertising. Our team is available for showings throughout the day, and we’ve developed a foolproof screening process to identify bad apples that could vandalize your home or default on the rent. We work efficiently to get a tenant in place as soon as possible.
If you fail to connect with the right renter in good time, you’ll be out thousands of dollars in missed rent. You could be in even bigger trouble if you choose a bad tenant for your home, with sky high repair bills and legal fees.
Are You a Talented Contractor?
Repair calls come with the territory for property managers and landlords. To keep your tenants happy, you need to respond as quickly as possible and provide quality work. If you’re not a jack-of-all-trades, you’ll need to work with licensed professionals to get the work done. How much time and money will you spend to make things right?
Also, it’s important to remember that you’re always on call. If an air conditioning unit breaks in the middle of the night, expect a phone call from your renter. Thinking of going on vacation? You’ll need to have someone who can fill your shoes on call.
Do You Keep Perfect Records?
It’s essential to closely monitor your expenses and income, in order to turn a profit and to keep your assets protected. Tax time in particular can be quite challenging for property owners, necessitating good accounting habits. You’ll also need to bill your tenants, follow up on late rent payments, and even pursue legal action when necessary.
All of these responsibilities require a great deal of skill and time. At RPM, we employ a full-time bookkeeper to monitor our client accounts and keep the finances in check. If you are taking the DIY route, you’ll need to make certain you don’t leave a stone unturned.
Property managers handle a surprising amount of work for our clients, but ultimately, ask yourself how much time you invest in keeping your property afloat. Are you tired of dealing with the onslaught of phone calls, requests, and hard work that goes into your investment? Isn’t it time to experience the benefits of your property without the headache?
Learn how our team can help save you money and give you the freedom to enjoy your downtime once again. Call us today for a free consultation: (760) 434-1791.
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