If you’re wondering why you should work with a Los Gatos property manager, the answer is simple: time and knowledge. Most investors and rental property owners have enough going on with full time jobs, families and other obligations. The time required to maintain a property and develop a relationship with tenants is often hard to find. Property managers can give you your time back by taking care of the daily operations for you. A professional can also provide the knowledge and skills that you might not have, but your asset needs.
At Real Estate Connections, many of our clients come to us after they have tried managing their properties on their own. When a problem arises that you aren’t sure how to handle, a professional property manager can step in and help. Here are a few ways that a Los Gatos property manager can provide the time and knowledge your property requires:
When your property is on the market and vacant, it’s costing you money. Longer vacancies are often the result of properties that are not marketed well or are priced incorrectly. A property manager knows the market and how to advertise. You’ll get a qualified tenant in place quickly, and rental income will start coming in for you.
Property managers don’t just manage your house; they also manage your tenants. It’s important to treat your rental property as a business, and there’s no need to become personally involved with your tenants. Your property manager can establish a respectful, professional relationship and respond to any problems or maintenance requests on your behalf.
Landlord Tenant Laws
In California, it’s important to stay up to date on rental laws because it’s a tenant-friendly state. New laws are passed and implemented every year and it can be hard to keep up with all the changes. Property managers continually educate themselves on these requirements and keep you out of legal trouble.
Monthly financial statements provided by your property manager will keep your income and expenses organized. This will be helpful at tax time, when you need to file a record of the gains and losses associated with your income property. You should always know exactly where your property stands financially.
During the move out process, landlords need to be careful with how and when they return the tenant’s security deposit. A professional property manager will conduct an inspection and determine whether there is any tenant damage that needs to be deducted from the security deposit. It’s important to document the process and the property’s condition to stay out of legal trouble.
Landlords need property managers to provide time and knowledge. If you have any questions about the benefits and services provided by professional management, please contact us at Real Estate Connections.