Are you having a hard time keeping up with the demands of your rental property?
We understand. It’s a full-time job to collect rent, follow up on maintenance requests, and make sure you’re providing the service your tenants expect. There are dozens of legal requirements to manage. You have to juggle insurance policies and track income and expenses.
If you’re burdened by your rental property, you’re not alone. Every landlord finds themselves overwhelmed at some point, whether it’s chasing down late rent, trying to find a plumber during a maintenance emergency, or wondering how much to increase rent during a renewal period.
Some of the most successful real estate investors will tell you that hiring a Los Angeles property manager is a great way to reduce the stress and frustration of renting out a property. It doesn’t have to take this much time away from you. It doesn’t have to be this difficult.
Maybe you have some pre-existing ideas about what property managers are. You might think of property managers as people who collect rent, find a tenant, and send a plumber out to handle a leak at a rental property.
We do all those things, but we also have a huge impact on the success of your investment.
When you partner with an exceptional property management company in Los Angeles that understands your goals as an investor, you’ll find you’re able to earn more, spend less, and have a more profitable investment experience.
Here are some of the things we can do to help you feel more hopeful and less burdened by your Los Angeles rental property.
Stop Overspending on Your Rental Property
Property management helps you earn more rent and spend less money on your rental property.
It starts with correctly pricing your property for competition and profit. Property managers know the Los Angeles rental market better than you do as an independent property owner. We study the rental values, we evaluate the competition, and we follow the changing demands of tenants. This helps us establish a rental price that doesn’t leave you playing catch-up.
Pricing your home too low is frustrating – you miss out on income you could be earning, and you struggle to bring your rental value up to market rates, especially if your property is rent controlled.
Overpricing your home is also frustrating. It usually results in longer vacancy periods. Those are expensive.
Property managers are also resourceful when it comes to increasing your rental value naturally. We can recommend improvements and upgrades to your property that will increase your rental value and help you attract high quality tenants. We know which updates and renovations are the most cost-effective. You’ll find you’re able to reduce your vacancy loss, keep your good tenants in place, and charge more in rent because of the advice we offer and the project management support we provide.
Part of earning more is spending less.
Property managers save you money on:
- Maintenance and repairs
- Vacancy and turnover
- Cleaning, landscaping, pest control, and other services
- Evictions and legal risk
How do we do this? For starters, we have relationships in place with some of the best vendors, contractors, and service providers in the Los Angeles area. The volume of business we provide them with our large portfolio of rental homes means they prioritize the work we need. They also give us their best discounts, which we pass on to you. This reduces your repair and maintenance bills, which is extremely welcome as those costs just keep rising thanks to inflation and labor shortages.
Protecting Your Investment Requires Resources
Your investment property is worth a lot of money. You’ve probably purchased the right insurance policies and you’re likely aware of the laws and determined not to make a legal mistake.
There’s a lot of liability in renting out homes. A bad tenant can cause damage to the property or stop paying rent. There could be a dispute over the security deposit or a fair housing violation because your screening process isn’t completely consistent.
A property manager can protect your property and provide a high level of risk management. We know the federal and state laws as they pertain to fair housing. We know how to lawfully evict a tenant and we know that we only have 21 days to return a security deposit or an itemized list of deductions.
Your property is safe when you work with property managers. We protect you from unqualified tenants and expensive legal mistakes.
Managing Relationships with Los Angeles Tenants
Some of the biggest burdens for landlords come from their tenants.
Even if you’re great at getting along with people, not all of your tenants will be easy.
You don’t want to be the person your tenant calls in the middle of the night to complain about a neighbor’s dog that’s barking too loud. You don’t want to field calls on your weekends about plumbing leaks and heat that isn’t working.
That’s why you hire a professional property manager. Not only are we responsive and responsible for everything happening at your property, we also know how to establish and maintain positive and professional relationships with your tenants. We hold them accountable to their lease agreement while making sure they’re having a good rental experience. It keeps them in place longer, which is good news for you, your property, and your earnings.
Property managers are here to support your investment goals. We can help you identify new opportunities and tell you when it might be time to sell a property or invest in something else. The more you’re willing to communicate with us, the better job we can do at helping you succeed.
Smart investors understand the value of Los Angeles property management. There’s no need to continue feeling burdened by your rental property. You’ve made a great investment, and renting out property is an excellent way to earn short term rental income and long term appreciation.
Make the most of what you own. Partner with a team like ours. Contact us at Earnest Homes, and we’ll tell you more about how professional management can help you.
