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What Makes a Top Performing Property Management Company in Long Beach?

Dustin Edwards • Feb 10, 2021

Key Metrics to Help You Find the Best Property Management Company for Your Goals

Top Performing Property Management
When you think of what makes a top performing property management company in Long Beach what comes to mind? For those new to interviewing firms it can be difficult to determine what questions you can ask and what to expect.  

We invite you to consider diving deeper into three key aspects: Days on Market, Client Retention, and Number of Units Under Management to help you find the best firm for your goals.

Days on Market
Each day that your property isn’t rented is a time where you aren’t making money. While no one can prevent tenants from leaving it is important to understand a property management company's process when a tenant does vacate a property.  

Ask how long, on average, it takes to bring the property up to rental condition after a prior tenant has left. Inquire as to if they market a property prior to it being completed to minimize vacancy. And of course ask them to give you the actual days a property is marketed prior to them signing a new tenant.

Understanding how many days on market your property could be vacant when a tenant leaves gives you not only a good idea on how efficient they are as a property management company but also gives you an idea of reserves to set aside in case you need to make an unexpected mortgage payment.
Retention of Clients
In the business of property management clients can stay for years; however, there are two common events where clients can leave:

  1. They experience a challenge with the property management company
  2. They decided to sell their property

Since you are the one who gets to decide if you want to sell your property you don’t have to worry about that item. When you are interviewing a property management company they are trying to win your business. This can make it tough to find out what true challenges people have faced with them. All of this means you might have to dig deeper with questions such as:

  • How many net positive clients are you adding each year to your business?
  • How many years, on average, do clients remain with you?
  • Why do you feel clients change property management companies?
  • What process do you have for increasing rent? (clients tend to stay longer when a property management company helps them make more money over time)

In an optimal world you can have a long relationship with your property management which means keep asking questions to find if they would be able to retain you as a long term client.

Number of Units Under Management
Inevitably if you call property management companies in Long Beach you will discover a few of them with 1,000’s under management. Having 1,000’s under management can be a positive aspect (i.e. scale to solve problems, service, pool of renters, etc.) but it can also have a downside impact. It could mean less time to focus on your property or you are just a “number”, etc..  

Finding out the number of units a firm manages is important however dig a little deeper to see what those numbers mean. Determine how their volume of units will impact what it would be like to work with them. Consider questions such as:

  • How many units does each property manager have under their purview?
  • How often does a property manager check-in with the property owner?
  • How often are rent reviews performed?

Having 5,000+ units under management can be a good win for many property owners, just make sure it is a win for you.

Finding the right property management company in Long Beach comes down to understanding how the firm manages properties and determining if they have the right personality match to work with you. To find out if we are the right firm to handle your Long Beach rental call us today at (562) 888-0247 to ask some of the questions above and to hear how we can help. If you want to have a quick check to see how much your property could fetch in rent we invite you to fill out our Free Rental Analysis where we perform a comprehensive comparison to share your rental stacks up to the competition.

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By Dustin Edwards 01 May, 2024
Everyone wants to feel safe in their homes. As an investment property owner, it's up to you to decide whether or not to include security measures in your property. Many of the costs associated with the security measures can be included in the rent, meaning not only can you keep your property safe, but you can earn more income in the long run. However, you would still want your tenants to have renters insurance to protect their assets. Today, we’ll discuss the top five security measures you can add to your property and why they're beneficial to you and your tenant. Security Cameras Cameras are probably one of the first security measures people think about when asked about security. Cameras provide more benefits than just surveillance. They provide an extra level of security for the safety of the tenants and their belongings. Additionally, security cameras can be useful when repairs are required. Cameras can aid in supervising repairs and maintenance to ensure you’re receiving the agreed-upon work. During vacancies when the property is empty, security cameras can help keep the property safe from potential intruders. Doorbell cameras are incredibly popular now. They provide the aforementioned safety of a camera that can be accessed remotely, as well as the ability to communicate with visitors. Although one must be careful never to say you're not home, just say you're unavailable to strangers. Security Lights Security lights with motion detectors are another effective tool when adding security measures to your property. These lights brightly if a potential intruder attempts to get near your home. They can provide enough illumination to see the intruder or, at the very least, scare them off. Nowadays, you can find a combination of security cameras and motion-activated security lights, such as the floodlight cam wired plus from Ring . Additionally, because these lights only turn on when motion is detected, they’re more cost-effective than traditional lights with a switch. Illuminate the Property Light generally deters intruders as it's more difficult to hide. Adding lighting to the landscaping can increase the security of the property while creating a relaxing atmosphere. Lights can also be used in other areas of the property to accent features such as trees, benches, or artwork. This can help your property stand out while giving your tenants an additional feeling of safety. Keyless Entry Keyless entry is seen as both a convenience feature and a security feature. They usually use an electronic passcode, biometric data, or grant access through a smartphone app. Physical keys can be lost, stolen, or duplicated. You reduce the risk of unauthorized entry by eliminating the need for a physical key to enter the property. Many keyless entry systems include several features, such as remote locking and monitoring. Although keyless entry is a great new technology for keeping your tenants and properties safe, they’re best used with other security systems. Security Company Nothing beats having an extra pair of eyes on your property for security. This is where security companies like ADT and SimpliSafe come in. While companies may deal with security in varying ways, they aim to protect your investment. While safety is the primary role of a security company, remember that many tenants may be willing to pay more for a premium amenity like a home security company. Keeping your property and tenants safe is incredibly important to the longevity of an investment property. If you’re looking to improve the security of your Long Beach rental property or need help managing your beach city rental property, we invite you to call us today at (562) 888-0247 or fill out our Owner Application online .
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