If you’re looking into becoming a landlord, you may be wondering whether or not you should engage with a property management company. Property management companies are extremely affordable — and that can make it difficult to determine exactly what they do. Overall, property management companies provide a complete resource for your landlord and tenant needs, ranging from property maintenance to finding tenants.
Finding Tenants and Collecting Rent
Property managers have an interest in ensuring that your property is rented out as much as possible. To that end, property managers will advertise your property, run background and credit checks, and get leases signed by qualified applicants. Once tenants are situated, property managers will collect rent from tenants in a timely fashion — and disburse that rent to you.
Completing Showings and Walkthroughs
When your unit is up for rent, property managers will complete showings on your behalf to prospective tenants. When tenants vacate, your manager will also complete a walkthrough with them to assess the property for any damage. As skilled and experienced professionals, property managers may notice things that need to be repaired or replaced that you might not. The property management company will then arrange any required cleaning.
Dealing With Notices and Evictions
Legal issues can be difficult to navigate, especially for first-time landlords. Property management companies can send out notices for late payment or issues of non-compliance (such as not repairing damages in the property). If it becomes necessary, property management companies can also handle both the legal and administrative aspects of evictions, ensuring that you are on the right side of the landlord-tenant code.
Arranging Repairs and Maintenance
Emergency issues crop up. Tenants may experience electrical problems or plumbing problems. Their HVAC might go out or their washing machine might spring a leak. When this happens, a property management company has the resources available to get it fixed quickly and cheaply.
Should You Hire a Property Manager?
Hiring a property manager is one of the easiest ways to ensure that your property continues to work for you — without any distressing or financially damaging issues. Every property management company is different. Whether you want the full services of a company or simply a company that will collect rent on your behalf, you can find the right services for you. At San Terra Properties, we pride ourselves on offering comprehensive, exceptional service to both owners and tenants alike. If you find yourself considering management services for your San Diego property, get in touch!