When you’re considering the property management cost for your rental home in Modesto, CA, you need to consider the services and quality you’re getting in return. In Modesto, property managers will either charge you a percentage of the rent that’s collected or a flat fee. Beware of fees that are so low that they seem too good to be true, because they probably are.
High-Quality Customer Service
If you seek out the property management company that charges the least, you’re going to end up sacrificing a lot of things. You won’t get quality service and you will probably end up spending more money in the long term because you’ll have to fix their mistakes and deal with the things that aren’t included in their fee. So when you’re looking for a property manager, be willing to invest in experience and professionalism. You aren’t going to save any money when you choose that discount manager. Instead, you’ll be evicting the bad tenants that were placed in your property or catching up with repairs that weren’t done properly because your management company didn’t have the resources to properly screen tenants or hire licensed and insured vendors.
Beware of Hidden Costs
Another danger to those low-cost management companies is that you probably aren’t getting too much in exchange for the management fee. Everything else will be an extra charge. Most reputable property management companies charge you a management fee and a leasing fee in order to find and place a qualified tenant. If you’re saddled with extras such as advertising fees, maintenance mark-ups, inspection fees, and other hidden costs that you weren’t expecting, you would probably have been better off paying a higher management fee that included everything.
Protecting Your Investment
Risk mitigation is a huge part of property management, and one of the benefits of having a professional manager is that you know your property will be protected from liability and lawsuits. A good manager will make sure your rental home meets all local, state, and federal requirements and that the laws are followed. Paying a fair management fee to an experienced professional is well worth the peace of mind you receive knowing that you won’t lose thousands of dollars on court costs and lawsuits.
If you have any questions about how to determine what you’re actually paying for in a property management fee, contact Valley Oak Property Management.