Blog Post

What is Entailed in Property Management?

Dustin Edwards • Dec 09, 2022

What Should You Expect From Property Management

Whether you’re an experienced investor or only recently began expanding your real estate portfolio, you’ve no doubt heard about property management companies. 


What does a property management company do for you, though?


A
full-service property management company should be seen as an asset and not an expense. Ideally, a property management company will allow you to pursue other ventures and ultimately increase your bottom line.


How is this done?


Join me as we explore what a property management company provides.


Collect Rent

Collecting rent is arguably the most commonly used service among all property management companies. To begin collecting rent, a property management company will also develop lease agreements which should always include the most recent laws and regulations. It can be a headache dealing with California’s housing laws, and a property management company can help avoid any unwanted legal issues. Most property management companies are often better prepared to deal with local laws than landlords.   


Communication with Tenants

Communicating well with tenants is one of the best ways to keep them happy. A happy tenant is more likely to live in your Long Beach rental property for long periods. Communicating with tenants about upcoming maintenance, rent adjustments, or other events helps the relationship between tenants and landlords be more positive. This, in turn, will give your tenants the confidence to bring up any issues they may see in the property.


Property management companies should be seen as more than just “rent collectors.” Granted, collecting rent is an important responsibility, but a property management company should also be able to handle maintenance requests, tenant complaints, late payments, evictions, security deposit dispositions, and more.


Maintenance

Property managers should be able to handle general maintenance and repair requests from tenants. When there is a slow response to requests, many tenants will feel undesirable, which can lead them to move out. Maintenance requests can range from fixing appliances, repairing the core systems of the house, or eliminating pests.


The property management company must keep your rental property looking fantastic year-round. This includes cleaning, gardening, and painting if it's required. With excellent curb appeal, your rental property will be more desirable to potential tenants. This way, you can minimize the time your units are vacant.


Dealing with Vacancies

A vacant rental is the least desired outcome of an investment property. Property management companies should quickly inspect the newly vacant unit. Repair any damage caused by the previous tenant. Once the unit is prepared, they should begin property viewings and advertising. Ideally, they should be able to screen applicants, and if the rental allows pets, the pets should also be vetted. Once a new tenant is found, a new lease agreement should be prepared, and the tenant should be informed of any rules you have for your rental property. 


Monthly Statements 

As a landlord, you need to be informed of what goes on in your rental property. Weekly or monthly statements should be forwarded to all owners involved. These statements should outline management fees, maintenance repairs, and tenant prospecting.

Additionally, they should include any need or complaint your tenant had during the month.


It's often for new landlords to attempt to manage their properties, and often they do successfully. However, property management companies are meant to help you earn more. If you have more questions about what entails in property management or would like more details about our services, consider calling us at (562) 888-0247, or feel free to fill out our
free rental analysis to see what your rental could yield today.


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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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