San Francisco is the fourth most expensive place to rent a home in the United States. This makes it a profitable place to own investment real estate and a top choice for astute investors to buy property for this purpose.
Yet, if you purchase a home with this intention, you'll soon discover that being a landlord involves a lot more work than you expected. Fortunately, hiring a property management firm can ease the time-consuming drawbacks of owning a rental home.
These are the perks of working with a property management company when you own an investment home in the California Bay area.
1. Expert Rental Management
Figuring out a fair rental rate for your investment property involves complex calculations and comparisons. It's a task best left to an expert team to ensure your home attracts good tenants.
A team of property managers has the know-how to complete a detailed rental analysis for maximum profits.
They'll advertise the availability in all the right places, and advise on any necessary upgrades to ensure your property is competitive in the market.
2. Fewer Hassles
There are a lot of legalities involved in renting accommodations to tenants.
If you aren't familiar with local and federal laws surrounding tenant rights, it's easy to fall foul of the law. Property managers know all the ins and outs of tenant-landlord responsibilities to ensure you stay in the clear.
They'll manage all the required documentation and deal with any complaints or issues your tenants might have. This can save you from the uncertainties and stress associated with rental properties.
3. Outstanding Tenant Services
Property managers go all out to ensure good tenants stay happy and in place. Some of their services include:
- Tenant screening
- Property inspections
- Dispute resolution
- Rent collection
- Maintenance requests
When you hire a property manager, you don't need to worry about all the hard work that goes into being a landlord.
4. Effortless Property Maintenance
Excellent property maintenance not only protects your asset but it keeps your tenants happy. A property manager will keep track of what your home needs and check for wear and tear during regular property inspections.
By keeping all aspects of home maintenance up-to-date, they save you money on expensive repairs.
Property management services have long-standing relationships with reputable, licensed contractors. This ensures you get the best workmanship and prices for any necessary maintenance work.
When you own property in California, you can deduct any expenses incurred due to property maintenance from your income tax. Property management services will keep a record of all maintenance costs, so you'll have everything on hand come tax time.
Finding a Reputable Property Management Company Near You
All the above benefits of working with an established property management company help save you money and time while relieving the stresses associated with managing investment properties.
When you hire Blue Line Property Management, you enjoy full-scale services offered by a team of esteemed real estate brokers with decades of experience in the real estate industry.
Get in touch with our team to find out how we can assist you with all your property management needs in the California Bay Area.