Top Reasons Why Hiring a Property Manager is a Must

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Owning property has long been considered a path to wealth and stability.  The one caveat is that all rental properties require time and effort to manage. A professional property manager is the key to mitigating the cost of rental property ownership for many reasons.

Promoting your property– The San Diego Business Journal found vacancy rates to be 4.1%, up from the year before.  Property owners with a professional property manager will stand out among the crowds.  Professionals create appealing advertising materials and know the region’s best marketing channels.

Emergency Management – Having a property manager to handle urgent maintenance matters can be a weight off your shoulders.  It will also improve your tenant’s satisfaction.  If you are the sole contact when a toilet overflows, then your current plans are flushed.  A property manager can respond immediately.  You are informed but you can enjoy your time with the confidence the issue is being handled.

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Knowing the Best Vendors– Professional property managers will have a short list of the best vendors and suppliers in the area.  Managing multiple properties for many clients means special rates can be negotiated that an individual owner could not get. A property manager can get the best resource at the best price.

Competitive Rental Rates – A team of professionals will more accurately understand the rates in your property’s area than an individual can.  Professional property managers make it their job to know the best rates by studying the market.  Knowing the right rate to charge can be the difference between a vacancy and a tenant.

Knowing the Property Law– Housing regulations and property laws exist at the regional, state, and federal levels.  They seem to be ever changing.  Professional property managers keep up to date on the law, and can protect you from costly lawsuits.

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Collecting Rent – Ensuring timely and regular payment from tenants can be strenuous.  Property managers have efficient ways to collect the rent to keep your cash flow predictable.

Getting the Right Tenants– Property managers have all the tools to ensure they pick the best residents for you.  A professional property manager will contact references, perform employment, criminal, and credit checks.  Trouble tenants are quickly filtered out.

Managing the Tenant– Property managers act as a buffer between you and the tenant.  They will make sure the value of your property is maintained with inspections.  They will mediate any potential problems.  You will always be involved, but the depth of your involvement is in your control.

No Geographic Limitations – Being a single owner means you are limited to properties you have easy access to.  Professional property managers have access to a much wider area.  You can acquire new properties outside of your immediate area with confidence.

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More Profit For You– The cost of your rental property includes your time and effort.  The cost of your time and effort calculated into ownership overhead is higher than the cost of professional managers.

Hiring professional property managers is the right thing to do for you and your properties.  Your business and daily life will benefit from the attention the professionals at S.O.S. Management and Property Services, Inc. can bring.

 

Contact SOS Management & Property Services

Local: (858) 273-8800

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