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5 Unexpected Benefits of Hiring a Property Management Company

Dustin Edwards • June 13, 2024

Hiring a property management company could seem like an extra cost to being a landlord. Although many have learned that by using the resources the property management company provides they can afford the time to expand their portfolio.


Today we're going to go over five unique benefits of hiring a property management company, And why it can help you improve your earnings. 


Tenant Satisfaction 

Many tenants view property management companies as simply rent collectors. However, this isn't the case, as many property management companies help make living in your rental easier. While, yes, property management companies will collect the rent monthly, they will also provide services such as maintenance, repairs, and communicating with tenants.


Tenant satisfaction is incredibly important and directly affects your bottom line. It’s known that a satisfied tenant will typically live in your rental much longer, and they have a  higher likelihood renewing their lease. Long term tenants provide a consistent stream of income while avoiding vacancies. Satisfied tenants are also likely to have better communication with the property manager. This can be beneficial as you want tenants to feel comfortable when requesting repairs or maintenance. This means there is a higher likelihood that you will catch repairs early before they become expensive.


Property management companies should be able to provide quick and professional repairs. Fast responses to maintenance requests leads to a satisfied tenant and as we've established, a satisfied tenant is beneficial to your bottom line.


Improved Bottom Line

Many first time investors see property management companies as a cost rather than an investment. They will oftentimes delay the hiring of a property management company because of this. A property management company should be seen as an investment, as it will oftentimes help you save money, time and improve income through reducing vacancies. Using their resources for effective marketing strategies to attract high-quality tenants. Through regular maintenance they may improve the longevity of core systems such as HVAC, plumbing, and electrical. This can save you money, and reduce the risk of expensive repairs.


As previously established, maintenance is important for tenant satisfaction. Though it also helps maintain your property's value. Regular maintenance allows you to increase the lifespan of your appliances, and the building itself. Routine inspections of the rental property also allows you to identify any issues with the property inside and out.


Property management companies allow for continuous upkeep and improvements, which typically increase property value. They may recommend or provide certain strategic upgrades based on market trends to enhance your property's curb appeal, and desirability to prospective tenants.


Improved Tenant Screening

A high-quality property management company will oftentimes have a log of quality tenants, and more resources to be able to improve the screening process of prospective tenants. This includes background and credit checks, employment verification, rental history, and references for the tenant.


By improving the
tenant screening process, a property management company can help you find the best tenant suited for your property. This means that you reduce the risk of renting your property to unreliable tenants, which protects landlords and investors. Which can ultimately improve your bottom line.


Reduced Stress

Managing a rental property yourself is something many first time landlords attempt. Though it's not uncommon for landlords to become overwhelmed especially if more properties are added to your portfolio. For example, dealing with emergency maintenance requires you to be available nearly 24/7 which can become incredibly stressful the more properties you’re attempting to manage. A property manager can handle the day-to-day operations and responsibilities, which can free owners from the routine tasks of collecting rent, maintaining the property, and communicating with tenants.


Property management companies can also handle disputes with tenants, reducing the involvement of the investors. This could be for small conflicts, like a noise complaint, or something more serious, such as dealing with evictions or legal disputes. All while providing frequent reports of occurrences which can help you get the peace of mind you need.


Free Time

As the old adage goes, time is money. A property management company can help streamline many tasks, such as automating rent collection services, handling paperwork, dealing with lease agreements and renewals.  This allows you to focus your time on growing your portfolio or to simply enjoy your free time with your family and friends.


Managing your rental properties can feel like a burden, though with assistance from a property management company you can rest assured your property is in good hands. If you need help managing your beach city rental property, we invite you to call us today at (562) 888-0247 or complete our
Owner Application online.

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By Dustin Edwards January 10, 2025
Having clear communication with your tenant is essential for maintaining a healthy landlord-tenant relationship. By being transparent in all relevant interactions, landlords can prevent misunderstandings while resolving repairs and disputes efficiently while improving tenant satisfaction. Having good communication with your tenant is beneficial for landlords too. Effective communication also protects your investment property. Remember that while your tenant is living in the property, landlords need to take care of the repairs. Below are the three best things to do during tenant communications. Prompt Responses Addressing tenant concerns quickly is essential for building trust and maintaining a positive relationship. Tenants feel valued when landlords respond quickly, knowing that their needs are being prioritized. Building this trust not only enhances your tenant’s satisfaction it lowers the possibility of conflicts or misunderstandings to arise. This ultimately creates a healthy and successful rental experience for you and your tenant. Some of the most common inquiries will oftentimes include repair requests, among others. As an example; if your tenant reports a leak under their faucet and the repair is delayed, this can be damaging to your landlord-tenant relationship, as well as your property. If left ignored, that leak can result in hundreds of dollars in water damage and a vacancy . Which can further affect our bottom line negatively. For landlords with multiple properties, this can become difficult to keep track of. A property manager can help with scheduling repairs and communicating with your tenant on your behalf. Document Everything Keeping a detailed record of all interactions with your tenant is an important element when managing a property. There are many choices for documentation including email, text, or written notices. Although many property management companies and landlords have opted to use apps or dedicated tenant portals to log communications. A great example, for instance, a tenant may claim they’d reported a repair issue that was never addressed, if everything is to be documented, both you and the tenant would have a copy of the request. Maintaining transparency with tenants. Having thorough documentation ensures agreements and requests between all parties are clearly tracked. Documenting communications with your tenant provides landlords with a foundation for addressing misunderstandings, or disputes if and when they arise. Provide Regular Updates Regular updates show tenants that their landlord is organized and has an attentive approach to managing their property. Giving tenants ample time for maintenance, inspections or policy changes is a simple way to build trust with your tenants while showing your professionalism. Giving tenants advanced notices reassures them that you’re aware of how changes can affect them and you understand that time might be needed in order to adjust. Surprises are best kept for birthday parties. Proactively notifying tenants of changes helps clear the communication channels and minimizes disruptions which helps tenants feel valued and satisfied. These small yet consistent efforts can contribute to a positive tenant stay, which can encourage lease renewals and long-term tenancy. Additionally, having a good relationship with your tenants can give you a great reputation which can provide you with leads when looking to fill a vacancy . It cannot be understated the importance of communication for a healthy landlord-tenant relationship. Even if your tenant may not agree with some of the decisions a landlord needs to make, by giving your tenants ample time to process the change tenants generally are more accepting of said change. If you’re having trouble communicating with your tenants or if you need help managing Beach City rental property, we invite you to call us today at (562) 888-0247 or complete our Owner Application online .
By Dustin Edwards January 2, 2025
Keeping tenants safe, translates to happy and long-term tenants. Read to discover 5 Inexpensive ways to keep your tenants safe.
By Dustin Edwards December 26, 2024
Owning a rental property near the beach offers an undeniable charm, with amazing ocean views, refreshing sea breezes, and year-round access to beach activities. Unfortunately, the winter season presents many unique challenges for landlords. Which if left ignored can result in higher turnover rates and additional maintenance to your rental property. Below we’ve compiled a short list of five unique challenges for beach properties in winter and ways to help deal with them. Coastal Humidity Coastal humidity is challenging year-round, as it may cause issues like mold, mildew, and accelerated wear from the salty air. Unchecked moisture can lead to accelerated corrosion on surfaces and even structural damage if left unchecked. For this, it's good practice to have regular inspections and preventive maintenance to protect your investment. Although, during the winter season, the coastal humidity can feel worse for your tenants. To help with this, consider installing a dehumidifier and ensure the property is properly ventilated. This is also a great time to seal any leaks or drafts to prevent excess moisture into the rental property. Many tenants resolve this issue by using the HVAC system more frequently which can add unnecessary wear and tear to the system. Coastal HVAC systems oftentimes have a shorter lifespan when compared to their inland counterparts. The humid and salty air can cause corrosion that reduces their efficiency which puts more strain on the HVAC system. During the winter season, excessive heater use may reveal wear and tear caused by salt exposure. For this, regular servicing is even more important in preventing breakdowns, maintaining reliable performance, and providing tenant satisfaction . Holiday Tourism During the holidays, Long Beach , much like many coastal cities, receives an influx of tourism. While necessary for many small businesses, holiday tourism can be a hindrance to some tenants, depending on the location of the rental. With tourists, comes increased noise levels from cars and people. To help alleviate this, you should consider installing proper noise insulation and soundproofing. This can be a significant investment especially for soundproof insulation as this needs to be done with exposed wooden studs. Alternatively, noise-reducing windows and paint can be used to mitigate some of the noise from holiday tourism. Additionally, parking may become a nightmare especially when parking spaces are limited. This can leave long-term tenants frustrated. While adding dedicated parking to your rental may be impossible for some. For rental with dedicated parking, ensure that your tenant’s space is protected from people who steal parking spots from local residents. Outdoor Maintenance Outdoor spaces are important for beach properties, although they demand extra care during winter. This is due to how marine layers can damage beach rental properties . Sand and debris can accumulate and make patios, walkways, and entryways less inviting. While heavy rainfall may damage furniture, railings, or fences. Regular cleaning and maintenance keep these areas safe and appealing for tenants. The sand and salt can cause premature corrosion on items left outdoors. Pests Winter can drive wildlife like seagulls, rodents, or even raccoons to seek shelter in warmer areas such as your rental property. During the winter, pests can create unexpected challenges for beach properties. Seagulls can be incredibly noisy, while rodents seek a warm and dry shelter. Additionally, the added humidity can weaken wooden structures inviting ants, termites, and roaches. To help prevent pest problems during the winter season, landlords should focus on maintaining proper cleanliness and sealing any exposed entry points. Consider hiring a professional to inspect and identify potential gaps, cracks, and openings where pests may gain entry to the rental property. Also, be sure to keep trash bins closed and far enough away from the rental to keep hungry pests away from the home. Increased Utility Usage The winter months bring with an increased use of heaters and other appliances. This can strain older systems causing them to work less efficiently which can elevate the rental’s energy bill and lower your tenant’s satisfaction. This can be tricky to resolve as other than preventative maintenance when systems begin to fail a replacement is required. However, when the system inevitably fails, you should not only replace the unit or system, you should upgrade the system to an energy-efficient system. This can not only ensure reliable performance but it can also lower the overall utility costs for you and your tenant. Proactive improvements help to maintain tenant comfort while also keeping your property competitive in the rental market. Winter presents unique challenges for beach properties, though with proper care, landlords can maintain their investment while keeping tenants happy. Which can ultimately improve your bottom line. If you need to address unique winter challenges or if you need help managing Beach City rental property, we invite you to call us today at (562) 888-0247 or complete our Owner Application online .
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