The San Diego rental market has been booming, and that doesn't seem to be changing anytime soon. If you've jumped onto the real estate investing train, you've made a great choice.
Managing your property isn't as easy as it might look on paper. It might be time to consider hiring a San Diego property management company to help you out.
But why hire property managers? Let's talk about it. Read on to learn all about why you should consider working with a property management company today.
1. Finding Great Tenants Is Easy
Even in a hot housing market like San Diego, trying to find tenants (especially good tenants) can be challenging. Every moment of vacancy is money that is coming out of your pocket, so it's crucial that you take care of it right away.
But how can you do that when you're not a savvy marketer and when you don't have a lot of spare time to vet tenants properly?
A full-service property management company can help you. They know how to market your property on all of the most important platforms, how to take great photos, and how to write effective property descriptions that will attract the right renters.
Once they find potential tenants, they can take care of tenant screening and lease negotiation so you don't have to. They'll make sure that your new tenants are suitable for your property.
2. More Efficient Property Maintenance
Property maintenance is crucial when you're real estate investing. Many uninformed investors choose to only take care of maintenance when a tenant requests it, but this is a bad idea. It can lead to costly future maintenance problems.
A property manager will arrange routine maintenance with local contractors or in-house team members to make sure that your property stays in good condition. They'll also use their online portal to respond to tenant maintenance requests in record time (which will make your tenants happy and make lease renewals more likely.
3. Easier Tenant Communication
Speaking of tenant portals and lease renewals, connecting and communicating with your tenants is a breeze when you use a property management company.
It's not always easy to keep track of tenant texts and emails. When your property management company sets up the online portal for your property, your tenants will be able to communicate with them directly all in one place.
Everything from comments and questions to rent collection gets easier. Tenants can receive notifications about rent, maintenance, or any issues. They can send in complaints or concerns right away.
This is great for you and your tenants alike.
4. Truly Passive Income
Being a landlord might seem like creating passive income, but this isn't true. While it's a strong second stream of income, you have a lot of work to take care of. For landlords with an abundance of properties or landlords with full-time jobs, it may not be feasible alone.
A property management company can make your investment as passive as possible so you can focus on your other tasks. What's not to love?
You Need San Diego Property Management
With all of this in mind, why wouldn't you want to hire a professional property manager in San Diego to help you out with your real estate investment? You'll bring in new tenants, have an easier time with maintenance, have better tenant communication, and have truly passive income.
Are you ready to work with San Diego property management professionals? At Penny Realty, we want to help! Contact us so we can start working together today.
