A question we often hear is: what do property managers do in San Jose, CA? Some people think it’s simply a matter of collecting rent. However, it’s more than that. There is a lot that property managers do for their clients and today, we’re going to talk about a few of those specific things.
The most important thing a property manager does for a landlord is to stay within the landlord and tenant laws. There are new regulations every year that require compliance, and if you aren’t a professional in this business, you may not know about them. Legal knowledge is important because California is probably one of the most tenant-friendly states in the entire country. If you want to be a tenant, California is the place to do it. If you want to be a landlord, it’s essential to have a professional property manager keeping your risk and liability at a minimum.
High Quality Tenants
Property managers will also find highly qualified tenants for your property. This is important because the tenant you select will have a huge impact on your success as a landlord. If you have a difficult tenant or someone who causes problems, it will be hard to communicate with that person. Property managers have experience in qualifying tenants and leasing to responsible people who pay rent on time. At Real Estate Connections, our eviction rate has been less than one percent over 40 years. That statistic demonstrates what a good property manager can do when it comes to tenant selection.
Your property manager will provide a regular and detailed accounting record of the income and expenses relating to your rental property. They might also pay the mortgage, property taxes and HOA fees on your behalf. All this financial information can be tracked and explained and at the end of the year, your taxes are easy to file because you have an accurate income statement.
Another answer to the question – what do property managers do in San Jose, CA – is that they keep your property in good condition. Regular inspections and responsiveness will help avoid major deferred maintenance to your home.
Real Estate Sales
Finally, professional property managers can help you buy and sell income property. Work with a property manager who does sales as well as rental management so you have access to good investments and the potential to grow your rental property portfolio.
These are just a few of the things that your property manager will do for you. If you have any questions, please contact us at Real Estate Connections.