Blog Post

Do I Need a Property Management Company?

Dustin Edwards • December 21, 2022

How A Property Management Company Helps You

It's common for this question to come up, especially for new landlords. To save money, new property investors may manage their properties themselves. Occasionally this works out for them, but it depends on the individual and their goals.


Today we’ll go over why having a property management company can be an asset to your bottom line.


When should you Hire a Property Management Company?

Although it would be ideal to hire a property management company as soon as you’re ready to rent out a rental property, not everybody is in a position to be able to do so. If you cannot afford a quality property management company, you may need to economize before investing in one.


Many times if you only own a single-family home and live near your rental property, it’s not too difficult to make a trip and see what the tenant may need. However, if you have lots of properties or many units, more time will be required to manage them all.


How Much Do You Value Your Time?

It's common for landlords that enjoy being hands-on to manage their property. This will ensure everything is to their specifications and quality control. But time is a resource we often need more of in a day. Time is money, and the time you allot to managing your property is time you could otherwise spend growing your own business, expanding your real estate portfolio, or spending more time with friends and family.


Managing a rental property takes time, from deposing the collected rent to finding a tradesman to repair your rental after a tenant moves out. If you realize at some point, you need more time to manage your rental. You’ll likely not be able to maximize your profits. A property management company may feel like an investment of money, but more so, it's a way to allocate more time to your day.


How Many Resources Do You Have?

Owning an investment property will require more than collecting the tenant’s rent. There is always maintenance to perform, and even if you, yourself, are handy, there will come a time when you’ll need to be able to find high-quality tradesmen. A high-quality property management company will have plumbers, painters, electricians, and gardeners ready quickly. Finding reliable tradesmen to deal with maintenance and repairs is difficult.

Depending on the time of year, unless you’re first in line, there will likely be a delay before the tradesmen arrive.


With delays comes more time that a rental will remain vacant. A property management company can also help fill in vacancies after repairs and maintenance. High-quality property management companies can put your rental into the most popular rental site, and often they’ll have a list of screened tenants waiting for availability.


Many landlords hate to think about it, but it's invaluable to have someone who knows your county and state laws. California has some of the most strict landlord-tenant rules. A property management company will have the resources to handle evictions, collections, and security deposit disposition.


Deciding on whether or not you need to hire a property management company can feel overwhelming at first. But once you realize the freedom, it can provide you. You won't be disappointed. If you are interested in Beach City Management as your property management company or would like more details about our services, consider calling us at (562) 888-0247, or feel free to fill out our
free rental analysis to see what your rental could yield today.


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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 .
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