Why
shouldn't I manage my property myself?
Lots of owners choose
to manage their property themselves and many of them are very successful.
With the time involved in collecting rents, arranging repairs and
leasing units, most owners have found that their time is
more valuable spent eleswhere. A good property manager will make
you money on your investment, not cost you money. Other important
considerations are the legal aspects of property management. In the letigious
society that we live in, a property owner can ill afford to
handle a problem tenant in an incorrect manner. Professional property
managers are well versed in landlord tenant law, and are abreast of
the constantly changing Federal and State mandates governing
them.
How do I know you will select a good tenant for my property?
Our
criteria is high when it comes to choosing our residents. Our screening
procedure takes into account an applicants credit report history,
employment history, stability, and prior rental history. Our thorough
background checks result in better qualified, financially stable
residents. This in turn creates a lower turn-over factor and premium
rents.
How much does professional property management cost?
Generaly
the cost of management is a percentage of the monthly gross rent.
The percentage will vary depending on property type and size. However
as a rule of thumb, you can expect to pay anywhere between 5% and
10% depending on your property type, size, and requirements. For seasonal
and short term rental properties management fees are slightly
higher.
For full details request a personalized proposal.
Are
any licenses required to perform property management?
Yes, the law
requires that property managers are licensed with the Department of
Real Estate. Investment Solutions Real Estate Services and Property
Management, Inc. is a fully licensed Corporation in the State
of California. Our company Directors also hold specialized certifications
in the area of residential property management.
Will I
have to pay for property repairs?
Yes, just as you would if you were
to manage the property yourself, you are still responsible for maintaining
the property. The advantage of allowing the property manager to handle
the maintenance issues of your investment property are extensive.
We have the capability of negotiating with vendors for discount prices
based on volume. These savings are passed directly to the property
owner. We also have in-house maintenance for general repairs, and
an on call emergency service for those late night repairs that just
cannot wait until business hours.
Is the cost of property management
deductable?
Yes, the cost of management services are deductable, just
like your mortgage interest, property taxes and the cost of repairs.
(See
your tax advisor for details.)
