3 Benefits of Hiring a Professional Property Manager for Your San Diego Rental Property
There are a lot of reasons to consider hiring a San Diego property management company and today we are highlighting three specific areas that you might not have considered.
Protection
A lot of San Diego landlords forget to consider that California is a tenant friendly state, and it’s very litigious. There are a lot of rules that aren’t simply different ways of doing property management, they are actual laws that you must follow. You must do things a certain way when it comes to tenant selection and property condition. A good property manager will have the proper forms, they will know the California Landlord and Tenant laws, and they will have business policies and procedures in place to ensure laws are not broken. This will reduce the risk that comes with having a San Diego rental property. Once you rent a home out to tenants, you are in a rental business and you want to stay in business. You can’t do something that’s illegal or against one of your local city ordinances.
Time and Peace of Mind
This is the most common reason that people call us. Sometimes people will tell me they manage their own property because they want to save money. But, think about your hourly wage at your job. If you’re paid a salary, just divide your salary by 2,000 since you work about 2,000 hours a year. When you’re working, you want to make sure you’re doing work that is above your pay scale. You don’t want to waste time doing work that is below what you get paid. So, figure out your hourly wage and multiply it by 40. It should take you 40 hours a year to manage your own rental property. This is just an average – it may take more hours or fewer less hours, but on average, you can work with 40 hours a year. Run that calculation and put those numbers against the fees of the management companies you’re interviewing. That can give you a good idea of whether you’re really saving any money.
A mentor once told me to set peace of mind as your highest goal and organize your life around it. Maybe tackling the rental business is your goal in life, and that’s something we can help you do. If it’s not something you want to become an expert in, peace of mind and family life might be more important.
Better Results
A professional management company should deliver better results. Whenever you purchase a product or a service, you want the solution to work better than what you had prior. So, a professional property manager should get the property leased quicker, and the maintenance done at better prices. They should lease to a better tenant who stays longer and does less damage.
There are always ups and downs, and you’ll always have risk. But, over the long haul, a professional property manager will provide consistent and positive results.
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Steve Welty
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