Imagine you found a landlord genie offering three wishes. Each one removes a daily task such as reading leases or collecting rent.
One of the many real-world real estate management solutions is even better than this hypothetical genie. It's powerful enough to take on all your management responsibilities for you.
Read on for the top four reasons to choose full-service property management in Redwood City, CA.
1. Attracting and Screening Tenants
Tenants are the lifeblood that keeps a property thriving. A vacant unit that isn't providing income is like an empty artery that isn't providing oxygen.
Property leasing agents prevent this. They start at the beginning by attracting tenants to your property. They do thorough market research to set fair rental rates. They put attractive listings on all possible channels to increase exposure.
The next step is to have them screen the applicants because a problematic tenant is like tainted blood in the heart. They can damage the property, fail to pay rent, or cause other problems.
The screening process is thorough and includes looking into the applican'ts:
- Credit history
- Criminal history
- Employment history
- Rental history
- References
2. Better Maintenance
Property managers will keep your property in top condition and up to code. They'll perform inspections and basic housekeeping. They'll deal with issues proactively before they become expensive and difficult to fix.
Reputable property management firms also have a team of reputable contractors. They'll give you better, faster work for a lower price.
The agents can even suggest the best upgrades for your property and area. This keeps it comfortable enough to keep current tenants. It also makes it more attractive to new ones.
3. Saving Time and Making More Money
On average, 93 cents of every dollar of rental income goes towards operational expenses or community improvements. Only seven cents comes back as profit.
Landlords who want the highest possible ROI on their investment need to shift those numbers. Property managers can help by increasing efficiency.
Their expertise in every area of residential property management speeds up the process. That efficiency means more money in your pocket.
This is especially true during rent collection. Agents know the best rental rate and can automate collection to reduce late payments.
4. Reduced Landlord Stress
The most attractive reason to choose full-service property management is the fact that it takes the burden of property management off your shoulders. Say goodbye to the long nights pouring over paperwork or wondering if you stepped over a certain law.
This is especially important if you have a large portfolio or invested in an area far from where you live. All you have to do is put an agent there. You'll be free to invest your time and energy in other priorities.
Choosing Full-Service Property Management
Hiring a full-service property management team helps you find and manage tenants, improves your maintenance, saves you time, increases your income, and reduces your stress as a landlord.
PMI Redwood Realty has over 25 years of experience with Bay Area real estate. Our goal is to create a plan to maximize the value of your asset in the short and long term. Contact us to learn about our comprehensive property services today.
