Blog Post

What Does it Mean to be a Full Service Property Management Company?

Dustin Edwards • May 14, 2024

For those looking to invest in real estate for the first time or those looking to expand their portfolio, the idea of having a company manage their properties has likely come up more than once. Ideally, you want a company to take care of all your property management needs.


A full-service property management company should offer a comprehensive range of services. These should be designed to handle every aspect of property management to
make your life easier. Below, we’ll go over what being a full-service property management company means.


Budgeting and Financial Reporting

Most tenants see property management companies as just rent collectors, and while that is a service most property managers provide, a full-service property management company assists with budgeting by breaking down the rental property’s income and expenses, such as incoming rent, maintenance costs, and losses from tenant turnover. Using this information, they can estimate future costs and revenues.


Financial reports should be expected with some regularity. This way, as an investor, you can see where your capital is going and how much is going to your bottom line.


Tenant Acquisition and Marketing

Vacancies can be financially draining to even the most veteran of investors. A full-service property management company should have a list of available and vetted tenants ready to move in as a tenant is moving out. Entire service property management companies should be able to provide excellent marketing by listing your property on the most popular real estate marketplaces companies, such as Zillow or Apartments.com. They should provide high-quality photos, property viewings, and complete move-in, pre-move, and move-out inspections.


While filling in a vacancy quickly is essential, filling it with a high-quality tenant is equally important. A tremendous entire service property management company will oftentimes have a list of requirements for tenants, including:

  • Five years of residential history
  • Rental References
  • Verifiable Income 
  • Background Check
  • Credit Check


While it's challenging to find the ideal tenant, having a list of requirements makes it more likely that you will find a tenant who is suitable for your rental property.


Lease Management

As the name suggests, lease management involves managing the lease to your rental property. Entire service property management companies help by overseeing the drafting of your lease agreements and any potential renewals. Lease management also includes the aforementioned tenant screening, rent collection, addressing tenant concerns, and lease terminations.


Property Maintenance and Repairs

No matter how well kept, every property sometimes requires maintenance or repairs. A full-service property management company should be expected to be able to deal with tenants' repair requests. However, occasionally, the building may need some maintenance. For this reason, it's a good idea for the property to be inspected regularly so minor issues don't grow to be expensive repairs. Some repairs require immediate attention, such as water leaks or electrical short-circuiting. This is where a complete service property management can save you from a headache as they typically have more resources to do emergency repairs at any hour.


Legal Compliance

Rental laws in California often benefit the tenants over the landlords, so it's good practice to work with experienced property management companies in the same area as your property. This can help to ensure compliance with local laws and allow them to manage legal disputes and evictions while minimizing losses.


The real estate industry is incredibly competitive, and a full-service property management company can be a great ally. If you are looking for assistance managing your Beach City rental property, we invite you to call us today at (562) 888-0247 or fill out our
Owner Application online.

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By Dustin Edwards December 19, 2024
If you're properties are suffering from lack of heating this winter, these 3 common issues could be the cause.
By Dustin Edwards December 12, 2024
Although Southern California’s winters are typically mild when compared to other parts of the country, tenants still value a warm home during the cooler months. Taking steps to maintain a comfortable living environment shows your tenants that their needs are being prioritized. This is crucial for tenant satisfaction, especially during the holidays. Below are three methods to help keep tenants warm during the winter season. Maintain Heating System It's required for landlords to provide rentals with a working heating system, however, it's not uncommon for these to fall into disrepair either because of lack of maintenance or negligence. Scheduling regular inspections and maintenance before the coldest weather can help to ensure the heating is reliable and efficient. Cleaning air filters, and checking for cold spots, or irregular noises can help prevent small issues from escalating into expensive repairs. Preventative maintenance can help to reduce the chances of inconvenient calls for emergency repairs. Being proactive with your maintenance can also help you protect your investment while earning goodwill from your tenant. Another factor that can affect your heating system is drafts around windows and doors. These drafts can cause your heating system to overwork which makes the system less efficient, and reliable and ultimately reduces the lifespan of your heating system. You can address this by inspecting the seals around doors and windows for gaps or cold spots. Replace worn-out seals and caulking where it's needed. Offer Smart Thermostats Consider providing your tenants with a smart thermostat for energy-efficient heating. This can not only give tenants control over their comfort, but it's also a great tool to reduce energy usage. By providing this upgrade to your tenant, you show a commitment to your tenant’s satisfaction which can in turn result in a long-term tenant. These kinds of devices definitely benefit your tenants, though they can also contribute to the longevity of your rental property as well. Additionally, you can give your tenant a smart thermostat as a holiday gift . This can show your tenant that you’re not simply collecting rent while protecting your investment. Reverse Ceiling Fans The direction in which a ceiling fan rotates is oftentimes overlooked, and it can have a great effect on the temperature of a home. A ceiling fan is typically seen as a way to cool down a home during the hotter seasons without using the air conditioning . Reversing the spin of a ceiling fan can help to circulate warm air more efficiently during the cold season . This is because warm air rises, and a fan rotating clockwise will push the warm air back down helping maintain warm temperatures. Most fans have a switch on the motor and it is easily accessible for most people with a step ladder. This easy adjustment helps reduce the need for your tenant to use the heating system. Tenants will notice a more consistent and comfortable temperature indoors. This should also help reduce costs on their energy bill. Reversing the rotation of the ceiling fans also takes some of the strain off of the heating system. This helps to ensure it operates efficiently for years by reducing the wear and tear on it. Taking proactive steps this winter season to ensure your tenant’s comfort demonstrates a landlord’s commitment to their tenant’s comfort. A comfortable tenant is a satisfied tenant , which can lead to a long-term tenant and steady rental income. Consider it a small investment for long-term success. If you need help keeping your rental warm or 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 December 5, 2024
Discover 3 Gift Ideas for your tenants this holiday season.
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