Just 45% of property owners take on landlord duties these days.
The rest outsource this work to property managers. A good property manager can elevate your property's value and keep money flowing into your pocket without you having to lift a finger. If you're a Brea-based real estate investor, you need to consider full service property management.
In today's post, we'll tell you exactly why property management is a great idea for managing your Brea, California real estate. Keep reading and you'll see how a small monthly investment can pay huge dividends for your investment portfolio.
Find Great Tenants
Let's start with the most obvious benefit of hiring a property manager - professional-grade tenant screening practices. You can't have a successful rental property unless you fill it with the best possible tenants.
A common mistake that new landlords often make is to fill their vacancies quickly and haphazardly. When you do this, you run the risk of letting delinquent tenants into your rentals, which can cost you a lot of time, stress, and money.
Good tenant screening involves rigorous criminal background and credit checks. It may also involve calling references and obtaining financial statements. All of it works to whittle down your pool of tenants so that you can choose from the very best.
Maintain Your Investment
Another reason to hire a property manager to look after your property in Brea is maintenance. Property maintenance is integral to the long-term viability of your investment. You need to care for the property, as well as the grounds regularly to ensure it doesn't become dilapidated.
Good property managers have connections with local vendors. Anything your property needs, whether it be routine landscaping or major repairs, an experienced professional is a call away.
Rent Collection and Tenant Services
Good rent collection practices ensure that you can count on regular rent payments each month. Property managers often have a tenant portal that allows tenants to make payments online. It's important to make it easy for your tenants to send you money, which is why these portals exist.
If you've got tenants who are late with rent, the property manager will deal with them. They'll also handle a variety of other tenant services and requests to make sure your tenants are always happy. A happy tenant is more likely to renew their lease and keep money flowing into your investment property.
Handling Legal Issues
Even with good tenant screening, you can sometimes run into a tenant that violates your lease. Whether it be missed rent payments or property damage, there are many reasons why you may need to take legal action.
Quality property managers are knowledgeable about California's rental laws, so you don't need to worry about doing anything illegal. Should you need to evict a tenant, they'll go through the process and offer eviction protection so you don't lose out because of a poor tenant.
Get the Best Full Service Property Management in Brea, CA
Getting the best full service property management in Brea is a call away with PMI County Line. We offer all of the services we discussed here and more so you can grow your portfolio and let us handle the rest.
To learn more about our services and how we can help, don't hesitate to contact us today.