Carmel Valley
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Hiring a Property Management Company for Your Carmel Valley Property
Rental investments allow any investor to build their wealth and broaden their portfolio. While gaining passive income is relatively simple and straightforward once you’ve purchased a rental property, managing the property, locating qualified tenants, and upkeeping maintenance is time consuming. Along with day to day tasks, you’ll need to market and advertise your listing to prospective tenants and make sure that the property remains in good condition. The following examines property management companies and the benefits they can provide.
What Property Management Entails
Property management involves overseeing all aspects of a residential or commercial real estate property. The types of operations that can be handled by a property manager include everything from responding to maintenance requests in a timely manner to collecting rent when it’s due.
Property managers provide a wide range of services involving the maintenance and care of rental properties. Their goal is to make sure that the investment property is successful and retains its value over time.
The total amount of responsibilities that a property manager takes on is beyond just the start of the agreement. A few of the responsibilities your property manager will take care of include:
– Advertising and marketing the property across a wide range of platforms. (Allowing your property to have the utmost professional exposure.)
– Scheduling showings with prospective tenants.
– Collecting and running applications.
– Contacting references (ie. employment and previous landlords)
– Running a credit check
– Lease distribution and signing.
– Staying up to date with all state laws and regulations between all parties involved.
– Performing move-in/move-out inspections
– Meeting with approved qualified tenants for move in. Turning over HOA R&R’s (if any), confirming utility services are in the correct name, verifying renter’s insurance policies are up to date and correct.
– Rent & security deposit collection
– Responding and scheduling all maintenance requests.
– Having great client relations
– Performing the eviction process if and when needed.
– Maintaining a record of all financial statements
Property managers need to perform numerous tasks and must be well-versed in how to use property management software to automate portions of their work. This software makes it easier for managers to balance the in-office functions with the daily operations.
Should You Hire a Property Manager?
You may be wondering if hiring a property manager is right for you. The answer to that comes down to your needs. A reputable and experienced property management company like ours can substantially impact the success of your investment. There are a few considerations you should take into account when making your decision to hire a property manager.
You invariably purchased an investment property in order to profit from it, which is why your first objective when hiring a property manager should be to identify budget. Many property management companies incorporate ‘add-on fees’. To name a few; start-up fees, leasing fees, fees for each month the property sits vacant, and tenant turnover fees may all come into play. These are examples of what only a fraction of potential add on fees look like at other property management companies.
Michael Anthony Properties first and foremost wants to service our clients in the utmost professional way, making your decision to hire a property manager a seamless agreement and assurance in a strong, trusted relationship. Michael Anthony Properties has no hidden fees. Our agreement is streamline and transparent. We truly find satisfaction in providing our clients with outstanding professional service and want our clients to receive the best return on investment.
Property management companies have the software and platform to integrate property management and financial information, which should help you streamline your entire investment portfolio. Staying up to date with technology is very important as a property manager. Michael Anthony Properties has a superb cutting edge financial landlord accounting system that provides property owners with easy-to-read monthly statements. This allows owners to know where they stand with their tenants at all times.
Managing a property on your own takes up a lot of your time. Property management is not a traditional job where you work from 9AM-5PM. Tenant requests must be responded to outside of standard work hours.
Take the location of your investment property into account as well. If you don’t live nearby the property, managing it on your own is more challenging. In the event that a tenant has an immediate request or something goes wrong in the building, having a property management company on hand means that these issues will be resolved immediately. At Michael Anthony Properties we are fortunate to have strong, well established relationships with professional, trusted vendors across all specialty service departments. We have been working with our vendors for over 30 years. Maintaining these wonderful relationships allows Michael Anthony Properties to provide owners with competitive pricing for repairs, quick turn around time, and full disclosure reports on maintenance issues.
When considering your options to hire a property management company, make a decision that suits your needs and lifestyle. If you hire Michael Anthony Properties, we guarantee to meet all of your property management needs. Give us a call, fill out our contact form, or visit our homepage for more information on home to get started!