Are you still wondering whether you should hire a Roseville property manager for your rental property? We’d like to help you decide whether you’re equipped to successfully manage on your own or if you can benefit from the experience and guidance of a professional management partner.
Pro: Eliminating Legal Risks with Professional Expertise
In California, managing your own investment property can be risky.
There are a lot of laws, and those laws are generally written to benefit the tenant. You need to understand the statewide rent control law that recently went into effect and whether it applies to your property. There are just cause eviction laws to comply with as well as fair housing requirements and security deposit timelines.
Mistakes are easy to make, and even if it’s a simple and unintentional mistake, you could have a very high monetary cost. Professional property management reduces your risk of mistakes and ensures you continue to comply with all the state, local, and federal laws. Property managers stay up to date on all the laws, which constantly change, and you will not have to worry about legal missteps that could land you in court.
Pro: Saving Time and Avoiding Frustration
Hiring a professional Roseville property management company to take care of your rental can also increase your quality of life and save you time. Managing properties takes more time than people realize. You need to be on-call 24 hours a day in case something goes wrong. This can be a lot to juggle if you’re also working full time on your own career and managing family responsibilities.
It can be frustrating to lease, manage, and maintain a property if you don’t have the systems in place that a management company has. Screening tenants, for example, can be costly and time-consuming if you don’t have property management software. But, you can’t avoid it otherwise you risk placing an unqualified tenant in your property.
You don’t have to worry about any of the details when you work with property managers – everything is taken care of expertly for you.
Pro: Better ROI
ROI is something else to consider.
You can manage on your own and find a tenant on your own, but can you do it as quickly as a property manager, thus reducing your vacancy loss? Can you find a high-quality tenant like a professional manager can?
We know how to screen and what to look for and how to set an accurate rental value for your property. We have tools and resources that self-managing landlords often cannot access when it comes to marketing and showing properties. Vacancy, pricing, and tenant placement have huge implications for your ROI.
Con: Roseville Property Management Fees
Ask any self-managing landlord why they don’t hire a property manager, and they’ll likely tell you they’re trying to save money.
The leasing fee, monthly management fee, and additional costs are certainly some of the challenges to hiring a management team. Yes, professional property management will cost you money. However, you spend money on professional services every day. You spend money when you have your car repaired or even washed. You spend money when you go to the dentist or when you decide to go out to dinner and have someone else cook and clean up for you. You’re willing to pay for things that deliver value.
Maybe managing your own home will save you those dollars – but at what opportunity cost?
You need to consider why you’re really interested in managing your own home. If the only positive is that you’re saving money on management fees, think about where you may be losing money elsewhere.
We’d love to tell you more about our Roseville property management services. If you have any questions about how this might benefit you, please contact us at Action Properties.