Should I Self-Manage My Rental Unit
Self-management is a choice many first time rental unit owners make. It might sound like a way to save money by putting your own labor into managing an apartment, duplex, or rental home. However, most experienced landlords know that self-management is anything but a money-saver. Choosing professional property management instead from King George Property Management Solutions not only reduces the stress of owning rental units in Los Angeles, but it also may save you money and make the entire enterprise more profitable. Find out why self-management of rental properties isn’t always a good idea.
Better Tenants from the Start
Putting a management company in charge of the tenant application and vetting process protects your properties right from the start. You no longer have to read through background checks or worry about financial documents and how their handled after an application is approved or discarded. Outsource all the headaches that come with attracting and verifying tenants by choosing a reliable property management team. Not only can a management service offer application services, they can handle lease renewals and negotiations regarding those transitions as well.
Focus on Higher Value Tasks
Why spend your time worrying about the condition of the carpet in a rental unit or chasing down maintenance workers to replace light bulbs? Your time is more valuable than that. Let us handle the little details that make tenants happy and free yourself up to find new investment opportunities, expand your real estate portfolio, or just take more days off to relax. If you chose to invest in rental real estate in order to generate what you hoped would be a passive income, you’ll need a management company to handle all those tasks that can make it more of an active career.
No Need to Learn the Skills of Being a Landlord
Many people inherit or are gifted properties that already feature tenants. Becoming a landlord overnight isn’t easy at all. It’s really something that takes a few years of training, education, and preparation if you want to do it correctly. Hiring a property management company circumvents the need to do all that training and education, as well as reducing the need to keep studying changing rental regulations and laws in your state. Let experienced and trained professionals handle the essentials so you can return to your preferred career or lifestyle rather than worrying about becoming a landlord.
Are you going to keep your cell phone on 24/7 so that tenants can always call if there’s an emergency like a broken pipe or a fire? While you will need a way to be contacted regardless, hiring a property management company puts one level of customer service between you and your tenants. They have someone to call for immediate help even when you’re not available due to other commitments. If you’re running an unrelated company or raising a family, this can be essential to rental unit success.