About 10.6 million Americans earn income from rental properties. That means about 7.1% of 1040 filers could potentially be landlords. If you're a landlord in Brentwood, CA, you don't have to lease out your property alone.
Instead, consider hiring a leasing management team this year. With their help, you can generate revenue from your rental property!
Not sure who to hire? Read on for the three tips you need when vetting leasing management companies.
1. Consider Experience
After building a list of Brentwood leasing management companies, consider how long each company has operated. Look for teams with years of experience in Brentwood. These leasing managers will understand federal, state, and local laws.
They'll have an easier time helping you avoid legal complications or fines.
Make sure each leasing management company has experience caring for your type of investment. For example, a team specializing in commercial properties might lack experience with residential properties.
Review each company's credentials. Confirm that the leasing manager and company have the necessary licensing and professional certifications. Their professional affiliations and certifications can speak to their expertise.
For example, you might find credentials through:
- The National Association of Residential Property Managers
- Residential Management Professional program
- Master Property Manager program
- Preferred Residential Management Company program
If the company isn't licensed and insured, remove them from your list of options.
2. Review Services
Before choosing a leasing management service, consider the problems you've experienced in the past. For example, maybe you need help marketing your properties. Perhaps you want to screen tenants or set more competitive prices.
The average cost of rent has increased by 61% over the past 50 years. An experienced leasing management company should look into local properties like yours. Researching similar properties can help them set the best prices.
If they set a price that's too high, it could scare away potential renters. If the price is too low, you'll lose money.
Perhaps you need help with rent collection to avoid late payments. Determine what technology the company uses. Their existing system can ensure accuracy and efficiency.
Ask each company for a list of their services and fees. Determine if the company offers a guarantee. Make a note of the contract duration and termination clauses before signing.
3. Read Reviews
If you want to find the best property managers in Brentwood, read online reviews.
Reading online reviews will help you find a reputable team worthy of your trust. It can also help you determine which companies to avoid.
Look for comments about the property manager's professionalism and responsiveness. If their clients struggled to get in contact with the property manager, you will, too. A lack of communication can lead to problems, including frustrated tenants.
A company that has a positive reputation will want to maintain it by offering the best possible services.
Find the Best Leasing Management in Brentwood
Don't make the mistake of choosing an inexperienced leasing manager that doesn't offer the services you need. Instead, use these tips to find the best leasing management in Brentwood. Applying these tips will help you feel confident in your choice.
Need help with your property? We're here for you.
Contact Blue Line Property Management for assistance.