If you’re the same as most Riverside property owners with one or more single-family rental homes, you give your best to keep costs low. So, when it comes to paying for professional property management, you may ask if it’s worth it. Maybe the ideal way to answer that question is to measure up the cost of not hiring a property management company. For some busy investment property owners, the cost of hiring a property management company pales in comparison to what you would probably pay if you didn’t hire one. Let’s explore in more detail why paying for professional Riverside property management can save you both time and money!
Time is Money
The first and most obvious reason to hire a property management company is to save you time. Assuming that you’re similar to the majority of people, your time is probably already stretched pretty thin. Yet, it can instantly become overpowering if you’re aiming to manage your rental properties on top of everything else. A good property management company can deal with all the little details so you can focus on the most important things.
Property Upkeep and Maintenance
Another essential thing to take into account is the cost of property upkeep and maintenance. Needless to say, there are some repairs and maintenance tasks that you are legally required to perform. In addition, properties must be inspected regularly to ensure that tenants are keeping up with their cleaning and maintenance responsibilities. If you don’t have the time or expertise to do inspections, repairs, and maintenance yourself, you’ll need to hire someone who does. But who? Finding dependable service techs for everything your property needs takes time – a lot of it! A property management company such as Real Property Management Integrity can deal with all the critical repairs and maintenance for you, so you don’t need to stress over it.
Another big expense of being a landlord is tenant management. From screening potential tenants and conducting background checks to collecting rent and handling maintenance requests, there’s a lot that goes into being a fruitful landlord. Great tenant relations can help reduce vacancies by keeping tenants longer and eliminating lost rental income. It can also help you save money on repairs if you urge your tenants to report maintenance issues when they are minor and deal with them right away. But if you don’t have the time or patience to deal with tenants, it is advisable to consider hiring a property management company to do it for you.
Last but not least, there’s the cost of fair housing compliance. As a landlord, you have to respect all local, state, and federal fair housing laws. This entails providing reasonable accommodations for tenants with disabilities and not discriminating against potential or current tenants based on race, color, religion, national origin, sex, familial status, or disability. Assuming you’re new to fair housing laws, you could rapidly find yourself in violation – and risking pretty hefty fines! A property management company can help ensure that you consistently comply with fair housing regulations.
As you can see, there are many good reasons to hire a property management company. While a cost is associated with doing so, the benefits far outweigh the cost – especially when considering all the time and money you’ll save! Contact us online today to learn more about our quality services if you’re ready to take your rental property business to the next level. We’ll be happy to answer any questions and help you get started!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.