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Professional San Diego Property Management or Self-Managing: Is it Worth the Cost? - Article Banner

Many of the self-managing landlords we talk to resist the idea of professional San Diego property management because they think it’s expensive, and not worth the cost.

There is a myth in real estate investing that says it’s cheaper to self-manage a property. This is not always true. In most cases, rental property owners actually earn more and spend less with a professional property manager.

Investment Property Mistakes are Expensive

Rental laws in California are challenging, and they seem to be growing more complex every year.

Mistakes are expensive when it comes to rental properties. If a landlord denies a tenant with a service animal because of a no-pet policy, there will likely be a fair housing lawsuit. Refusing to consider applicants with Section 8 housing vouchers is also now illegal in California.

The constantly changing laws and regulations are difficult to keep up with, and an excellent reason to work with professional property managers. Owners are protected, and their investments are protected, too.

Vacancy Rates are Lower with Professional San Diego Property Management

Owners lose less money on vacancies and turnovers when working with a professional San Diego property management company. A good property manager understands the rental market and knows how to price a property competitively and profitably. There’s a strategy for attracting the best potential renters.

The delivery of professional, reliable, and outstanding customer service ensures that high-performing tenants stay in place for the long term. When tenants leave after one year, the turnover costs and vacancy days will be detrimental to income and long-term returns. When a self-managing landlord has to prepare a property for a new tenant after an old tenant moves out, it often takes weeks or even months to get the work done, advertise the home, and show the property. Professionals can do it in a matter of days. This saves money, which means it earns money.

Cost-Effective Maintenance with Professional Management

Preferred vendors are always eager to work with management companies and provide immediate availability and discount pricing. Finding a loyal and reliable electrician, plumber, roofer, or landscaper can be a challenge for self-managing landlords. However, for professional property managers, it’s easier because of the volume of work that’s provided. This establishes a relationship that leads to a better maintenance experience for both property owners and tenants.

Minimizing Disasters and Unexpected Emergencies

Every landlord who has rented out their own home without professional help has a story of how and when it went wrong. Maybe they rented to a nephew who didn’t pay rent for six months. Maybe there was a tenant who decided to leave in the middle of a lease period without notice, leaving behind a mess in the house and damage that went far beyond the amount of the security deposit. Maybe a tenant moved in a Pit Bull and that Pit Bull attacked a delivery person. Perhaps a tenant decided to paint the interior walls purple.

There are a lot of ways that things can go wrong during a lease period. Property managers help to protect owners from terrible rental experiences.

working with a professional property managerRenting out a home alone can be overwhelming, especially if the investor has a full-time career, family responsibilities, or personal pursuits and passions. We can help provide a better investment experience. Contact us at San Diego Residential Property Management when you’re ready to hear more about the value of professional management.