When you have a house you’d like to rent out, having to manage it can be the thing that prevents you from turning it into an investment. This doesn’t have to be the case, since there are plenty of property managers that can take it over for you. Property management is a field that has a $101 billion market size. What makes the field of property management so important? How can I find property management near me?

We’re happy to steer you in the right direction, starting by dispelling some common property management myths. 

1. Property Management Only Involves Collecting Rent

Many people underestimate the importance of a property management firm. This is generally because they think that property managers only collect rent from tenants. 

That notion couldn’t be further from the truth, because property managers play a lot of different roles. Here are some of the tasks that property managers routinely handle:

• Appearing in court for evictions and other cases
• Maintaining bookkeeping and accounting for a property
• Taking prospective tenants on tours
• Processing maintenance and repair work requests
• Making improvements to the property that get a return on investment (ROI)

Get to know what services you need so that you can prioritize them when hiring a manager. 

2. Property Management Service Is Expensive

It’s this myth most of all that keeps people from taking advantage of property management services. Property management is not only cost-effective, but you typically don’t even pay money out of pocket. 

Most property managers collect a percentage of whatever rent you collect each month. Ask about their percentage upfront to make sure that it’s fair and affordable. 

3. It’s Easy to Find Good Tenants

It’s easy to get applications, but finding good, reliable tenants takes some work. It’s work that the average property owner doesn’t want to do because it takes so much time and research. 

At a minimum, you need to background check and screen every application. A property manager will take it a step further and call references so that you can find a tenant that is trustworthy and likely to take good care of the property. 

4. All You Need Is Software

Because there are so many Software as a Service (SaaS) platforms available, many people think it’s easy to go plug and play with your property management needs. While these software platforms are sophisticated, there’s no substitute for having a human being who understands the industry. 

There are several questions and nuances of property management that software can’t account for. Your property manager is also the face of the property, which makes their hire an investment that will keep paying for itself. 

5. Good Property Managers Are Hard to Find

Since the industry is so vast, you shouldn’t have an issue finding a good property manager. Always check their credentials and make sure that they serve your state and city. 

Schedule consultations to discuss their background, how many properties they manage, and how they can help you get the most from yours. 

How Can I Find Property Management Near Me?

Start with this property management guide so that you have a better understanding of these services. 

Now, there’s just one question you’re likely asking yourself – “How can I find property management near me?”.  

At Outland Real Estate, we can serve any property management or real estate needs that you have with care and professionalism. Send us a message, or give us a call at (815)300-3559.

The roof needs fixing, there’s a leak in the basement, and the dryer stopped working. Those are just the texts you’ve gotten from your tenant in the last week.

If you’re new to property management, you’re likely trying to do everything yourself. And while that’s doable and frugal in some situations, it’s not the right option for everyone. Hiring property managers can make your life easier in various ways (more on that later), but you may be cautious about anything that digs into your profits.

Learn the pros and cons of getting help with your properties below.

Should You Hire a Property Manager?

Here are some questions to ask yourself when deciding if hiring a property manager is the right step for you:

• Do you live near your rental property?
• Do you have the mental real estate to be a landlord?
• Can you handle more stress right now?
• How many properties do you have?
• Do you have a handyman and/or maintenance company you trust?
• Are you comfortable with the financial tasks associated?
• Do you have a good understanding of landlord/tenant laws?
• How much are you making per hour as a landlord?
• Are you comfortable handling evictions or late payments?

Most property owners decide to hire managers when they hit their second or third property because of the abovementioned stresses. It’s also a good idea to hire a local property manager if you don’t live nearby.

What Are the Benefits of Hiring Property Managers?

Having someone to manage your rental for you can be a godsend to the overwhelmed investor. If you feel like you can’t handle one more call from your renter, it may be time to invest. Here are some things that might convince you …

Property Managers Can Handle Maintenance and Repairs

When you hire a property management company, they either have on-staff or contracted repairmen and maintenance staff they work with. That means you won’t have to read through hundreds of reviews online to find the right yard company or handyman. All you’ll need to do is let your manager know what services you want when.

The Have Online Payment Technology Set-Up

Accepting payments from your renters can be a pain, especially if you’re not local. You’ll either have to set up a direct deposit and automatic withdrawal each month for each renter or accept checks. Property management companies handle all this for you and have already paid for the software and associated fees.

Because of that, you can get your profit deposited into your bank account from one source and you won’t have to chase payments.

They Reduce Your Stress Level

Having a property manager means that someone … manages your property for you. You won’t be 100% hands-off, but you’ll do a lot less work than if you were trying to do everything on your own.

The Cons of Hiring Property Managers

The only downside of property manager hiring is that there are fees associated that will reduce your net profit. However, if you have more than one property or are already overworked, those fees are more than worth it.

Finding the Right Property Managers for You

Once you decide on whether you’re hiring property managers or not, you’ll need to find the right people for the job. We pride ourselves on being your most reliable ally in the real estate market and strive to be the best at our jobs.

Click here if you’re ready to talk to our property managers about your investment.

Paying for a property manager for your rental property might sound like a costly endeavor. When you’re a landlord, maximizing the profit on your rental property is always the number one priority. Bringing in property management to do some of the work that you’ve been doing might seem like an unnecessary expense.

In this post, however, we’re going to discuss some of the ways that property management can actually save you money in the short and long term. If you want to find great tenants, get your money on time, and have the property well-kept, property management is always the way to go, so read on and find out how it’ll also save you money.

Marketing the Property

There’s no denying that renting out your property can be a lot of hard work. It also costs money to prepare the property for renting and advertising it on various platforms in order to find great candidates.

Under your contract, a property management service will handle all of this work for you as part of the agreement. You’ll never have to take out a Facebook or newspaper ad, pay for the property to be cleaned and fixed up before viewings, or take time out of your busy schedule to find renters again.

Screening Tenants

Screening tenants might not sound like a money-saving perk, but if you think about it in the long term, having quiet and respectful tenants can actually save you a lot of money. Usually, when you get good tenants, you’re more likely to keep them in your property for long periods of time, which saves you money having to go through the screening process again.

Another thing quality tenants tend to do is pay their rent on time. If you don’t have good renters, you could constantly be chasing them down for rent and in the worst scenarios, you may end up taking them to court. All of this costs you time and money.

Better Rent Collection

Speaking of rent collection, a good property manager will create a system for getting your rent money on time, every time. Every property owner counts on timely rent payments from their tenants in order to make mortgage payments, pay other employees, and budget for their own lives. This doesn’t always happen efficiently and it’s not always a tenant’s fault.

A property manager will set up a process to deal with rent collection and their own fee collection at the same time. They’ll deal with the tenants, take their cut of the rent, and deposit the rest to you, making it easy and reliable.

Property Maintenance

When you’re busy, you probably won’t have time to make continuous small repairs to your property. Unfortunately, with people living in the homes, you need to stay on top of maintenance to keep tenant retention high. Little issues always become bigger, more costly ones over time, as well.

Property managers will keep your property in great shape, ensuring you don’t have to spend huge amounts of money down the line on big repairs or renovations. 

Get the Best Property Management

If you want the best property management that’ll help you boost profits on your Central Coast property, look no further than Outland Real Estate. Visit our website to learn more about us and what we do, then contact us when you’re ready to discuss hiring us as your property management.

At the start of the year (2021), more than 10 million Americans were behind in their rent payment.

Most of these people were using the pandemic as their excuse for failing to pay rent on time. As a landlord, it’s challenging to deal with such tenants. You don’t know how to evict them or push them to clear the rent arrears.
To overcome these challenges, you should hire a full-service property management agency.

So, how do you find the right agency?

Keep reading to learn how to choose the right full service property management for you.

Examine Reputation

Some property management companies are too harsh and tend to harass tenants. Choosing these companies will lead to high tenants turnover and cashflow problems. To mitigate this problem, check the reputations of various property management agencies near you.

You want to find an agency with professional staff who know the best ways to deal with tenants. Your goal is to ensure that your tenants are happy living in your property and pay their rent on time.

Carefully Read the Property Management Agreement

Before you hire a property manager, you must carefully read the agreement and, if necessary, involve an expert. The agreement will stipulate the property manager’s duties and powers. It’ll also disclose how much you’ll be compensating the property manager.

Finally, the agreement will have a clause that directs you on how to terminate your relationship with the property management. So, carefully read the agreement and ensure you’re satisfied with all its clauses.

Find Out Who the Company Advertise Vacant Units

As the rental property owner, you may have a hard time advertising the vacant units. You don’t know the best platforms to use to advertise these units. Besides, you fear attracting the wrong tenants who’ll keep failing to pay the rent on time.

In addition, you know that you’re losing money every month that passes by, and you have unoccupied units. To overcome these struggles, find a property management company with an incredible marketing plan. This company knows all the top tools to use to attract the right tenants.

Check Licensing

Some individuals assume that the quickest way to venture into the real estate industry is by becoming property management. These individuals set up businesses without seeking any licensing. The problem is that most of them have no idea about the tenants’ rights.

So, by hiring these businesses, you risk doing things against the law when dealing with tenants. For example, evicting a tenant without following the right procedure. To curb these problems, choose a licensed property management agency.

Boost Returns by Seeking the Best Full Service Property Management

Seeking the best full service property management is key to overcoming the headache of dealing with troublesome tenants. You want an agency that will push your tenants to pay their rent on time. Besides, look for an agency that’ll advertise your property, thereby ensuring that all units are occupied.

Call us today for amazing property management services that meet your needs.

A property management company helps to maintain a residence and its occupants without the owner’s daily input. If you’ve invested in multiple properties, there’s a good chance you’ll need their help with upkeep and covering costs. 

Every company is different, however, so you can’t go in assuming they’ll handle all of your needs. You also don’t want to end up paying too much for too little. 

Here is some of what to ask your potential property manager before you pay for their services.

1. What Services Do You Offer and What Are Your Prices?

One of the first property management questions you should ask is how much each of their services cost. 

Not every property management company offers the same services at the same prices. Write out a list of everything you need from them before you meet. And make sure to ask about their various fees. 

2. How Will You Fill My Property?

A key job of property management services is keeping your real estate occupied.

Ask the manager what kind of platforms they use to advertise and how they plan to utilize them. Will they require you on-site for viewings, or will the property manager handle it all? 

Also, consider how they screen tenants. Their methods may not create as inclusive an environment as you desire. 

3. How Do You Calculate and Collect Rent?

The property manager will be in charge of coming up with rent, so it’s important that you’re on the same page about your property’s value. They should take into account multiple factors to find the maximum rental income. 

It’s also important for the company to use a modern and efficient method of rent collection. Cash can be misplaced, and checks can bounce. 

4. Do You Handle Repairs and Maintenance? 

Repairs and maintenance can take up a lot of time for real estate owners. Even if you like handling the contractors and repairs yourself, it’ll become way too much to deal with alone as your real estate portfolio grows.

Instead, hire a property manager who offers maintenance services in one of their plans. It may cost a little extra, but you’ll save big on time and money down the line. 

5. What Are the Termination Conditions?

Not every property management company is going to be the right fit for your real estate empire. Especially avoid any that offer a lengthy contract with various cancellation fees. 

Most services offer monthly payment plans with easy cancellation. You also want to avoid giving them too much power over your properties, such as requiring you to list through them. 

Hire the Right Property Management Company

These are just a few of the questions to ask when choosing a property management company. It’s important that you hire one that you can trust to manage your real estate as well as the people living and working in them. 

If you need help with selling your home or searching for a new property, check us out. Outland Real Estate services the Central Coast of California. Contact us to learn more.