Many people understand the benefits of owning rental properties, but few want to be landlords in charge of every aspect of their rental property management processes. They may desire the additional income, but not the added responsibilities of maintaining and marketing their properties. However, property management services Glendale CA may offer you several benefits without the added headache.
You may receive hundreds of applications for each rental you own. How do you sort through these potential tenants and find those who will respect your property and pay their rent on time? Typically, this requires screening and expensive background checks. Not only do management companies provide background check services, but they are trained to identify warning signs on tenant applications.
Marketing a property, or several properties, can be challenging and costly. However, property managers understand the nuances of writing ads for rental properties, taking photos that show the property’s best and showing properties. They also understand the local rental and real estate market, so they know what prices to charge for different properties. Strong marketing and market-guided rental prices prevent your property from sitting vacant for long periods of time, increasing your income.
Because your management company takes care of your property’s maintenance and any issues that the tenant encounters, they increase customer satisfaction, decreasing turnover. These companies have relationships with local service providers and can often get someone into the property to fix an issue within a day or a few days and at times that are convenient for the tenant.
Property managers ensure that tenants pay their rent on time, and if they don’t, you don’t have to know the legal processes for removing a tenant because the property manager takes care of it. In addition, managers understand the housing laws and can save you from costly lawsuits.
If you have considered or own rental properties and think the management aspect is too challenging, consider hiring a property manager.