When hiring a property manager, there will be a lot to think about. Can you trust these people? Will they take care of your properties and put only solid tenants there? Are they just going to sit around and collect a direct deposit, doing nothing while the tenants do whatever they want to your property? Will they end up stealing from you, nickel-and-diming you into the poor house for everything they can think of, or putting “anyone” there just to demand an eviction fee?
Whether you have been a property owner for a long time or are just getting your feet wet in your first rental, there are a lot of potential fears to address. When you go with a property manager, you need to be able to trust that they will have your best interests in mind.
When Property Management Goes Wrong
There is no level of price point and no area in the world where tenants cannot pull off shenanigans. Even in a great area like Carlsbad, proper tenant screening is essential. Without it, the one bad tenant even in the best area can slip through the cracks. From there, a bad tenant can cause all kinds of problems in your property, with one of the least of those problems, being the loss of rental income if the tenants decide that paying rent is optional.
Other problems that can happen are small maintenance issues that pile up due to lazy management. Some managers simply want to hang around and to collect a monthly direct deposit, but treat maintenance requests as literal requests – they might take care of a problem, and they might not. Over time, even a small issue can begin to compound, particularly if it is a leak or a clog. These can become particularly costly as a property becomes too bad for people in the area.
Money for Everyone
Carlsbad is a very affluent community where wealth is commonplace. While there are a lot of people who live there for much of the year, and even some year-round for locals, a significant portion of the population is composed of renters. Some are short-term, while others have longer leases. The entire area offers tremendous profit potential, since there are so many great properties and the entire area is so exclusive.
Of course, there is always the potential to lose money due to inefficiencies and “leaving money on the table.” When you have properties in good areas, you have to be sure that you can trust your crew. Another thing that can go right or wrong is the maintenance. In an area of this caliber, people expect the very best.
Trusting the Right People
From the first time you visit the website, you will notice that everything is laid out for you. All fees are transparent, the services are defined, and your rental will be in good hands. By having an efficient process that maximizes the amount you receive, Promise Property Management helps you become a satisfied client and a successful Carlsbad real estate investor.
Published by Joseph Nicholls