Property management is unregulated in most states only requiring that a property manager have a real estate broker’s license but little else.
This lack of control leaves the door wide open for less meticulous people to get involved.
It’s not just the deceitful, however at times, it is a well-meaning real estate agent whose experiences are with buying and selling property in the South Bay, not managing them.
Local Knowledge and Experience: It will not offer you much benefit to have someone besides a local manage your property. Nobody but a local understands the competitive rental rates based on the property and location.
A property manager with knowledge of the South Bay area knows how and where to market the property, and they have intimate knowledge of all neighborhood and state policies that govern rental properties.
1. Fairly priced Fees: There are unscrupulous characters out there who will offer you rock bottom fees; however, you get what you pay for. A reduced fee will normally mean poorer quality lessees, greater turnover, greater maintenance, and higher expulsion rate. Dealing with less than the very best can rapidly change you from a landlord to a slumlord. The right property manager will cost a bit more, but the differences in efficiency resemble day and night.
2. Powerful Advertising Tactics: When one of your properties becomes vacant; you want it filled with a dependable renter as soon as possible. Your property management company in the South Bay must have a strong marketing strategy in place that allows your property to be promoted everywhere at once. Online listings, local neighborhood papers and signs should all be part of the strategy.
3. Conscious of Maintenance Costs: The bigger the property management company, the bigger the stick they carry. This stick is used to demand the best possible price from service professionals and repairmen. To further decrease the maintenance costs, periodic evaluations of the property need to happen. It costs less to deal with a small issue than a huge one. A combination of low costs and a sharp eye will keep maintenance cost in check.
4. Transparency in Reporting: Every detail of your property should be logged. Every dollar invested and all rental revenue, in addition to copies of new leases and repair work logs, must be accessible with an internet portal the owner can easily enter at will.
5. Quick Disbursements of Funds: As an owner, you desire your money as soon as possible. Look for a company that has a record of quick disbursement and makes use of a direct electronic deposit.
The rental market demands are such that in order to do your investment portfolio justice, you need the services of the best South Bay property management company.
South Bay Property Management & Sales, Inc in Torrance can give you the very best service for you and your tenants. Give us a call today at (310) 561-8883 or email us here, we will be happy to assist you.