If you’re not already working with a San Diego property management company to lease, manage, and maintain your investment properties, this is a good time to consider it. Property managers will give you back your time. We’ll take a lot of the hassle out of the investment experience for you.
It’s more than that. We’ll also help you earn more money.
Increasing your return on investment (ROI) has to be a priority when you’re investing in real estate. The right property management partnership accomplishes that for you in numerous ways.
Let’s take a look at the financial gains you stand to make when you’re working with an exceptional management team.
San Diego Property Managers Increase Rental Values
Many professional property managers will warn you about pricing your property too high. You run the risk of longer vacancy times or unqualified tenants.
We are of the opinion that if you have an outstanding property to rent, you should be asking for the highest possible rents. Why sell your investment short? When your home is well-maintained, modern and attractive, and located in a desirable neighborhood, make sure you’re maximizing what you earn.
Property managers help you achieve those high rents. We study the San Diego rental market every day, and we gather the data that’s necessary to price your investment property for profit.
There’s a danger in leaving money on the table. The best rental values will impact your recurring rental income, your long-term ROI, and your ability to keep up with market shifts and trends.
Property managers provide less guesswork and better data. You’ll have an accurate rental value that ensures you’re earning everything you should.
High Quality San Diego Residents
You may not realize how much your tenant selection impacts what you earn with your investment property. A well-qualified tenant will earn you far more money than a tenant who struggles to pay rent every month or cannot seem to report maintenance requests when there are repairs or replacements needed.
Property managers, as you may expect, have far more resources when it comes to identifying and placing well-qualified residents.
You can expect a more rigorous screening process; one that’s fair and consistent but also detailed. We will look through a tenant’s credit report rather than simply glancing at the credit score. We’ll measure income against rental amount and debt. We’ll talk to former landlords, and we’ll do the due diligence that’s required to ensure only qualified residents are living in your rental home.
This makes a difference. It protects you against the cost of late rent and potential eviction. It saves you money on the property damage that a tenant can leave behind. It ensures your lease agreement is followed and you’re not left trying to protect your property against a resident who seems intent on causing conflict.
Minimizing Vacancy and Turnover in San Diego Rental Homes
A huge expense for many San Diego rental property owners is vacancy. Turnover is even more expensive. Property managers can reduce vacancy and turnover. We can also keep turnover costs more manageable when we do find ourselves moving one resident out and another in.
Our ability to limit vacancy is due to our ability to market homes strategically, respond to showings right away, and work through the screening process efficiently and professionally. Our inspections are detailed and well-documented, and we place a resident in a fraction of the time that self-managing landlords usually do.
Turnovers are less likely because we invest in positive, respectful tenant relationships that are responsive and service oriented. A good management company will hold tenants accountable while committing to creating an outstanding rental experience. Residents are more likely to stay in place because we meet their expectations, and they understand ours.
When your residents renew their lease agreements and stay in place year after year, you’re saving money on maintenance, marketing, and leasing. You don’t have to pay for utilities during the turnover period or worry about security.
Tenant retention is one of the best ways to increase your ROI, and San Diego property managers help you retain your residents.
San Diego Property Managers Prioritize Preventative Maintenance
Deferred and unreported maintenance will always cost more than preventative repairs. If you want to increase your earnings, make sure you’re responsive when it comes to routine maintenance.
Property managers tend to make a point of scheduling and committing to preventative maintenance. Here’s why it matters:
- This type of maintenance will protect the condition of your investment property and increase its value.
- Preventative maintenance keeps your residents happy and more likely to renew their lease agreement.
- There are fewer emergency repairs, which always cost more than preventative maintenance.
If your investment goal is to increase ROI, make sure preventative maintenance is a priority. Get to know some great vendors or work with a San Diego property management company that has these plans already in place. You don’t even have to think about it.
Investing in San Diego Property Management is Good for Business
When you’re thinking about your ROI and whether or not you want to work with professional property managers, ask yourself this question: do you think of yourself as a landlord or as a real estate investor?
Landlords will typically be very hands-on when it comes to their rental property. They’ll want to work closely with tenants and do everything themselves.
Investors, however, recognize the value in professional property management. Their goal is to earn as much as possible on their investment without doing a lot of the day-to-day work themselves.
Partnering with a property manager means less risk for legal mistakes, too. The California rental laws are only growing more complex.
The best way to increase your ROI in the current San Diego rental market is to partner with local property managers. We can take some steps to make sure your property is earning as much as it can, leading to higher ROI and better investment experiences.
If you’d like to hear more about what a partnership with us might look like, please contact us at San Diego Residential Property Management.