You own rental property to increase your long term FINANCIAL SECURITY & STABILITY. Yet so many rental owners find themselves with unexpected costs eating away at their rent revenue. Meanwhile, the constant surprises of rental ownership leave them feeling anything but stable. If you’re like most rental owners,
- You’re frustrated that your EXPENSES are higher, as you are forced to handle maintenance, regulatory, and tenant problems without the tools, processes, or experience to handle them efficiently.
- You’re worried that your INCOME may not be as high as it could be, and are unsure of the local market trends needed to set the right rent rate.
- Your investment feels unstable and lacks SECURITY, due to unpredictable tenant interruptions and demands on your time, the risk of tenant liability issues, regulatory penalties, and collection issues.
- Sure, you’d love to leave the hassle to a professional management team, but you’re concerned about the impact on your cash flow, unsure whether the cost will be worth the benefits, and wary about trusting someone else with your valuable asset.
Sound familiar? If so, you’re not alone. But here are the facts:
Competent, experienced professional residential property management in Sacramento will generally pay for itself.
- Better qualified tenants who stay longer and take better care of the property.
- Faster leasing systems reduce vacancy days.
- More efficient, technology-driven processes and collections.
- Lower costs with bulk buying power on maintenance.
- Proactive maintenance and inspections to catch problems before they become expensive.
- Strict legal compliance to avoid financial penalties and liability, with a team dedicated to staying abreast of changing regulations, so you don’t have to.
- Local expertise and market experience ensures you are getting the maximum rent for your property.
- And let’s not forget the value of your own time spent handling tenant interruptions, maintenance, and staying abreast of regulatory issues.
So, with professional residential property management in Sacramento in your court, you finally enjoy the FINANCIAL SECURITY and STABILITY you sought from the beginning. But—how do you know who to trust? The key is to ask the right questions to ensure that your choice has the EXPERIENCE, PEOPLE, PROCESSES, & PERFORMANCE to actually do what they promise in the sale.
Make sure they have extensive EXPERIENCE managing single family rentals, as these investments have different needs than apartment complexes or commercial properties. How do they stay current on and comply with landlord/tenant laws and local, state, and federal fair housing regulations? What experience and information is used to determine local market rent rates? If you want, for instance, Antelope property management, you need professional managers that know Antelope.
Next, PEOPLE. The increasing complexity of the industry requires a team of subject matter experts to truly do the job right—leasing agents, accountants and bookkeepers, compliance auditors, maintenance coordinators, brokers, and a tenant support team. Ask about the team members who will be supporting your investment, and make sure you avoid one-man shows or discount shops who don’t have the team to deliver. Further, make sure the company has clear standards and policies around personal ethics and integrity.
Third: efficient, timely PROCESSES will make all the difference in the performance of your asset and making sure your professional management team indeed pays for itself. Ask about the processes behind marketing and showing your home, tenant screening, lease signing, move ins and move outs, lease renewals, rent payments and collections, inspections, maintenance and vendor management, legal compliance, and tenant emergencies. Also ask about communication processes—you should expect monthly owner statements and financial reports, meticulous bookkeeping and accounting, and 1099s at tax time. Finally, ensure that processes are in place to protect your private and financial data, and your tenants’.
And fourth, even if a property manager has all the right answers, PERFORMANCE is what really matters in the end, so do your homework to see what others have to say about the company. Check the company’s online ratings from property owners, customer testimonials, and their status with the Better Business Bureau and the state’s real estate division.
Remember as you compare prices that a lower price tag can end up costing you many times over in underperformance. Professional property management is not a commodity, but an asset management team dedicated to helping you earn more on your investment home. It is critical that you weigh the true value against the cost in order to protect yourself from the hidden costs of poor property management.
If you are looking for residential property management in Sacramento, or Antelope property management, or anywhere else in the greater Sacramento area, are ready to make the move to greater FINANCIAL SECURITY and STABILITY with your single family rental, kindly give us the opportunity to answer these questions, and then compare for yourself. You’ll quickly see why more rental owners trust the Select team to better manage their rental home. Only Select truly offers the EXPERIENCE, PEOPLE, PROCESSES, & PERFORMANCE to get you the maximum return on your investment. Find out what we can do for you today.