If you already own a rental property, or properties, the idea of having to deal with tenants and managing properties might be daunting.
That’s where a professional property manager step in.
A credible property manager will take over the responsibilities that rental owners might not want to handle. This includes services such as surveying the market and area to determine a reasonable and competitive rate to charge for rent. Property managers can also help you sell a property by generating solid leads through a variety of channels, including online property aggregators, social media, advertising, and the multiple listing service.
Once your property has caught the eye of prospective tenants, the property manager can help you vet the prospective tenants to make sure any potential renters will be responsible, reliable, and creditworthy. After the tenants have been screened and approved and have moved in, property managers will even be able to protect you from potential lawsuits by staying up to date on your city’s laws, rules, and regulations to make sure you’re in the clear.
From there, they’ll be able to take over the less desirable parts of property management, like handling emergency repairs, creating monthly expenditure reports, taking care of important tax filings, and performing home visits. Given the wide range of services that property managers provide, you might now be wondering how much they charge. Fees vary widely depending on where you live, but most managers will charge a flat fee to secure a tenant and then charge a small percentage of the monthly rent as a fee to manage the property.
As with all things related to buying and renting property, you’ll want to make sure you do your research before hiring a property manager. Once you find one that is experienced and dependable, you might be amazed by the peace of mind a professional property management partner can bring!
For more information, questions, or to schedule a FREE property analysis of your San Diego properties, please contact us at Makana Property Management today!