San Diego remains one of the least expensive major cities on the West Coast. This contributes to rapid growth in the city and a favorable real estate investment climate.
Earning passive income from owning a rental property is an excellent option for real estate investors in cities with rapid growth, but it also involves a lot of hard work.
Are you struggling to keep up with your responsibilities as a landlord? A leasing-only service can help ease the load without handing over control of your property to a third party.
Keep reading for a comparison of a leasing-only service vs. property management.
What Is a Leasing-Only Service?
A leasing-only service focuses only on areas directly related to securing tenants for your home. They know how to find tenants and carry out all the administration related to leases.
Once your tenant has signed the lease, they step back so you can take over.
Property management companies perform a much broader range of tasks, including managing your leases. These extra services include property inspections, rent collection, evictions, and maintenance.
Duties of a Leasing-Only Service
A leasing-only service is one of the many aspects covered by a property management company. They're ideal for landlords who still want to oversee the daily management of their property.
Leasing-only professionals are well-versed in the latest California landlord-tenant laws. This means you needn't worry about this aspect while negotiating leases.
These are some of the things included in leasing management:
- Rental marketing
- Property showings
- Pre-screening tenants
- Accepting applications
- Screening applicants
- Compiling the lease
- Arranging for lease signing
- Collecting a security deposit
- Receiving the first month's rent
Once the tenant has signed the lease, the leasing service forwards your funds to you. Then they step out of the picture.
After that, you're free to manage your property as you see fit.
Benefits of a Leasing-Only Service
A leasing-only service works as well for investors who own multiple properties as it does for small-scale landlords.
Finding tenants, carrying out lease negotiations, and performing background checks are some of the least enjoyable aspects of owning a rental property. A leasing-only service alleviates this burden.
If administration and negotiation are your weak points or you'd rather focus on more hands-on tasks, you should consider a leasing-only service.
Leasing-only services focus on fewer tasks than property management services do. So, they're a more affordable option.
Most property management services offer leasing services as part of their portfolio. You can always add more services as your investment portfolio grows.
Find the Perfect Fit for Your Property
Whether you're in search of a leasing-only service or a more extensive solution for your San Diego properties, you must research your options carefully. Compare the available services, read reviews, and find out more about their experience.
Income Property Advisors Inc. offers everything you expect from leading property management services. We have over ten years of experience in the field and over 1,000 apartments under management.
Get in touch to discuss your property management needs in San Diego.