We know a lot of landlords who are comfortable managing their own properties, and they’re pretty successful at it. However, smart investors know that hiring a professional San Gabriel property management company can help you earn more, spend less, and have better investment experience.
It’s also important to consider how dramatically the rental landscape has changed. There’s a pandemic that continues to leave owners uneasy, and new tenant protections are in place throughout California.
If you’re not already working with a professional property manager, these are some excellent reasons to consider it.
Your Time is Valuable
A lot of the owners we work with simply don’t have the time to manage their rental properties. Maybe you can find the hours if you’re only renting out one home only. But, if you are juggling more than one property, it’s going to require the same amount of hours as a full or part-time job. If you don’t have the time to devote to it, important things may get missed.
Busy investors can definitely benefit from professional San Gabriel property management. If you’re the type of owner who wants to invest in real estate because of the financial benefits it provides, but you don’t want to get into the day-to-day details of renting out a home, you will need a professional. When the rental income and the ROI are your most important reasons for investing in real estate, you want a professional who can handle the ins and outs of rental management and all the duties that come with it.
Hire a Professional When You Have a Lot of Properties
If you’re renting out an entire portfolio of rental properties, you need to have those assets managed professionally. Taking care of things on your own may be fine if you only have one or two homes to rent out, but with several properties and a lot of tenants, you’re going to have more issues that need your attention.
Hiring a professional property management company with a full staff and a lot of experienced managers, administrators, bookkeepers, and leasing agents will make your life a lot easier. You’ll find your investments are performing better and there’s a lot less stress and liability in your work as an investor.
Hire a Professional When You’re Far From Your Property
A lack of proximity is also an excellent reason to hire a professional. If you live out of state or even out of the country, it’s going to be extra difficult to monitor maintenance and anything else comes along. You will have residents, neighbors, and vendors who may need your attention, and if you’re more than half an hour away, you’re going to have a hard time being responsive.
A local property manager can be a valuable asset for non-local investors. You’ll want a professional who can get over to the property quickly and conduct regular inspections to make sure it’s in good condition. You’ll need someone who knows the market well and can help with establishing rental values and vendor relationships.
California Laws are Making Self-Management Risky
It’s increasingly easy to make an expensive legal mistake when you’re renting out a San Gabriel property. There is statewide rent control in place now, just cause evictions are complicated enough without the current eviction moratorium for tenants impacted by the pandemic, and you have to include Section 8 housing benefits as income when you’re screening tenants. You might miss the deadline to return a security deposit or try to treat a service animal like a pet. All of these things can have dramatic legal consequences.
Protecting your property and your own financial stability is perhaps the most important reason to hire a qualified and experienced property manager.
Contact us at ZenPro Property Management if you’d like to talk about your San Gabriel rental properties and your options for leasing and management services.