Considering leasing out your San Diego home? Your first priority is to determine whether you will act as a landlord or partner with a property manager when working with residents. There will, of course, be pros and cons to both scenarios. Right now, it’s important to consider the benefits to what property management companies in San Diego provide for owners and why you may consider going that route instead.
Expert Advice
Is this your first time leasing a property? There are some questions that you may want to consider before you jump in:
- How will you work with tradesmen and contractors or property upkeep?
- How to assess what a fair rent price will be, but also, how to increase the value of your property?
- What goes into marketing materials, and how do you get these out into the world?
- How will you seek residents, and attract the best matches for your property?
Are all these questions leaving you overwhelmed? That’s understandable. This is where a property manager would come in. I know how to deal with all these issues (and more) in a timely and professional manner.
Be sure to ask a prospective company about their relationship with vendors (that is, contractors and suppliers for maintenance), their knowledge of tenant laws, their screening process for tenants (credit checks are a must!), and more. Property management companies are experts in these things and can help address those concerns and be prepared for any future bumps in the road.
Organization
Maintaining property means a diligent eye must be kept on paperwork, collecting rent checks each month, depositing returns, and so on. If you already work full-time, and/or raise a family, and/or have any other responsibilities concerning work, friends or family, you may decide that you simply don’t have the time to spare to work with residents rigorously.
But that doesn’t mean you shouldn’t lease out your property! You can always get a hand from a reliable management company. Part of what you’re signing up for is an organized partner with an eye for detail, who is in the business of keeping you and your tenants happy.
Peace of Mind
Consider the peace of mind you will gain from knowing you have a professional team to take care of property and assist residents. This is especially true if you want to lease out a property while living a considerable distance from it (say, in Sedona, Las Vegas or Palm Springs, to name a few).
Remember that residents will require you to be available 24/7, especially when an emergency response is needed. If it’s just not realistic or attainable that the emergency contact be you, it’s time to bring in a Property Management Company.
California state laws require certain standards of property maintenance from landlords. It helps to have a team who is well-versed in these laws and has experience upholding them–something a Property Management Team can deliver.
Inviting residents into your property can and should be a positive experience of fostering a new relationships and helping others make a home. Also: you need to make sure you are getting paid every month. Avoid all the unpleasantness of being the “bad guy,” or the hassle of fitting rent collection and deposits, by working with a Property Management Company.
Also consider that a professional company will make it easy for residents to pay, most likely using a state-of-the-art online platform for managing rent and documenting payments.
There is a reliable way to make sure all the i’s are dotted and the t’s are crossed if you are looking to invite residents to lease your San Diego home: work with PropertyADVANTAGE today.