You own it. What could be so hard about managing your own rental property? You’ve probably been taking care of your own home for years — mowing the lawn, making small repairs, cleaning and installing upgrades. So, why can’t you manage your rental yourself?
As professional property managers in greater Los Angeles we tell owners all the time that, yes, they can manage their rental — but should they?
Choosing to manage your own rental property presents a challenge: You own the home, but you may not be knowledgeable on how to manage it, especially when it comes to the seemingly endless maintenance, legal and clerical tasks involved.
Little Details Become Big Issues
There are many obscure aspects to property management. For instance, you need to file city taxes for your rental property — and you need to up to speed on California’s landlord-tenant laws. In addition, you need to be a marketing and advertising specialist if you’re going to find great tenants. And when you do find tenants, you’ll need to do credit and criminal background checks on the applicants.
But wait, there’s so much more!
You know those minor repairs you’re used to doing at home in your spare time? When you’re a property owner they’ll need to be done immediately. But are you always available?
Your rental property must also have curb appeal, because the next tenants are always looking for a nice place to call home. Do you have the time to keep it looking fresh?
Are you ready to handle any rent collection issues that may arise? With so many things to keep on top of you can end up spending more time and money than you planned.
Why Take The Risk?
In the complicated world of real estate management, trying to manage the property yourself could expose you to unnecessary liability, not to mention an inefficient use of your time and resources.
Hiring professional property managers such as Harbor Property Management will give you the specialists you need to handle the details, and more. Give us a call today at 310-361-6105 for more information, and let us give you back your time and peace of mind.