Blog Post

What Does it Mean to be the "Best" Property Management Company?

Dustin Edwards • March 9, 2023

Property Management Companies Can Vary In Quality

Managing multiple investment properties can become burdensome, especially when you own various locations subject to different rules and laws. Hiring a property management company can provide the necessary resources to take care of your property’s upkeep, and tenant occupancy allows your property to remain profitable. 


Ideally, you’ll want to hire the “Best” property management company, though this can be subjective. Below are a few items to consider when looking for the “best” property management company.


Personalized Service

One of the best examples of a good property management company is how personalized its services are. Many companies will sell you service packages that only fulfill the minimum amount of work as described in their agreement. In contrast, the best property management companies will tailor their services to your needs. They should understand your availability and communicate accordingly. The communication style can be tailored to your needs through calls, texts, or emails. They should make you feel as though you are a priority client. Even if you’re new to real estate or are expanding your portfolio, you should feel important.


Occupancy

You should ask property management companies about essential items about occupancy. Questions like how long are your properties vacant or what is the average tenure of their tenants provide important information about the property management company. Vacancies can be a severe problem for owners, directly affecting their bottom line. 


Great property management companies should be able to inspect, repair and fill vacancies efficiently and quickly. You should ask about the method they use to market the vacancy and their vetting process for new tenant applicants.


Value of the Rentals

Good property management companies should be able to disclose the average rent increase they get for the owners. Raising rent is one of the key ways to steadily increase your bottom line. You should ask about their average rent value and how they analyze yearly prices to ensure optimized income. This can be a difficult question for some companies to answer as they would require the resources to be able to know all the county and state laws involved with increasing rental prices. It’s well understood that California has some of the strictest laws when it comes to housing, many of which are designed to protect the tenants. A great way to see how the property management company approaches rent increases is by asking them to provide samples of their lease agreements.


Reputation

A company’s reputation can help you understand what you’re capable of. The internet is crucial when searching for the best property manager. Check reviews from other owners and tenants with which the property management company works. The last thing you want is to be sold to a company for the tenants to feel like all they do is collect rent and not fix anything.


Reviews can also highlight whether or not the company goes above and beyond for its clients. Do they have exemplary service while being cooperative? Do they ensure items get taken care of regularly without the need for your involvement? 


The best property management company should feel like an investment on its own, giving you the freedom of time without worrying about whether or not your property is being taken care of properly. It's meant to let you enjoy your free time or invest your time in other projects, such as improving your portfolio.


Finding the best property management company to suit your needs can be difficult but not impossible. If you feel like Beach Cities Management is the right property management company for you, 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.

Share this post

By Dustin Edwards January 17, 2025
A new year is a new chance to start new ideas to bring in prospects to your property. Consider the following 5 ideas to engage prospects and get new tenants.
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.
Show More
Share by: