About 46% of San Diego households are renters. As a result, being a landlord in San Diego is lucrative, but it's also hard work. If you're struggling, it might be time to hire a property management company.
But with so many companies to choose from, how do you pick? Let's talk about it. Read on to learn a few questions that you should ask before committing to a property management team.
What Services Do They Offer?
Not all rental property management companies offer the same services. You need to find one that suits your needs.
A full-service property management company should, at the very least, offer things like:
- Property maintenance help
- Tenant communication
- Tenant screening (including a tenant background check)
- An online portal
- Tenant placement
- Property marketing
They may also help with rental property accounting and handling some of the complex legal issues that come alongside being a property investor. Get a full list of services before you commit, and don't be afraid to ask questions.
How Much Do Services Cost?
Make sure that the property management company is within your budget. For small-time landlords, this is a large concern. Pricing models vary.
Usually, basic property management will be a small percentage of the rent you collect from the property. Property management companies may also charge separately for other services, like placing a new tenant.
Ask about what's included in the cost so you're prepared. Remember, there's nothing wrong with getting prices from various companies before you commit.
How Is Maintenance Handled?
All good property management services will help with maintenance, but they don't all do it the same way.
Some will work with local maintenance companies or contractors to get lower rates. Others will have in-house maintenance staff, which may be more affordable.
How Long Have They Been in Business?
You want to pick a team of property managers with plenty of experience. Ask about how long they've been managing properties and don't be afraid to ask for referrals.
While longevity doesn't always align with quality, a property management company that's been in business for a long time likely has happy long-term clients. This is a good sign for you.
What Responsibilities Do Landlords Have?
How hands-on do you want to be as a landlord? Make sure that it aligns with the property management company.
Some property management companies allow landlords to be completely hands-off and never even talk to tenants. All communication goes through the property management company first.
If you want more control, ask the property management company if they allow significant landlord input.
Are You Ready to Hire a Property Management Company?
When you're ready to start looking into local property management companies, keep these questions in mind. You want to find a company that's best suited to your property, so don't settle for less or rush your decision.
If you're looking for an exceptional property management company in San Diego, California, we want to help! At Income Property Advisors, we offer a full range of property management services to our valued clients.
Contact us to get a free rental price analysis today.
