For many landlords, the notion that someone might be better at managing your property than you can be a blow to the ego. However, property managers make it their livelihoods to, well, manage properties for landlords, and know how to make it more appealing for potential tenants, as well as make sure the property isn’t brought down by bad tenants. If you’re a landlord considering property management in Salinas CA, here are the top reasons a property manager may be the best thing that ever happened to you business-wise.
#1. Better tenant screening
Not all landlords are experts at spotting liars, or scanning for inaccuracies in resumes. Property managers, however, are. Which is why most landlords hire property managers to screen potential tenants for them. Your average property manager has seen countless tenants in the course of their careers, so they know a liar when they see one. They can dig for the real facts, spot missteps in resumes and interviews, and generally can make sure a bad seed doesn’t make it into your land.
#2. Fewer legal problems
One bad tenant can grow into a huge legal conundrum if they’re bad enough. Luckily, a property manager is kept up to date on the newest updates to landlord/tenant laws, and will keep you posted as well. This way, a bad tenant won’t be able to hurt you legally in any way. The money you’d have to pay your property manager to do this pales in comparison to a single law suit a negative tenant can bring down on your head.
#3. Shorter vacancy
On top of handling legal problems and screening tenants, a property manager will help make your property more appealing so that your vacancy cycles don’t last nearly as long. This includes cosmetically improving the property, preparing it for incoming tenants, deciding the best rent rate for the specific property you’re putting up for rent, and finding the best way to market your property to make sure potential tenants take notice quickly.
#4. Tax assistance
A property manager can even help you with the taxes of your property. Including figuring out which deductible you can claim, organizing important documents, and even making their fees tax deductible. If you’re new at being a landlord and haven’t figured out taxes yet, a property manager can save you countless time and money.
And that about sums up the appeal of property managers, and what makes them so useful for landlords. They save you so much time and money by bringing their increased experience to the table. If your property is losing value, or if you’re just new at this, look up a good property manager and get your property back on track.