If you’re a landlord in the North San Diego area who is looking to let go of some of the burdens of property management, you probably have good reason: you might feel like you have too much on your plate or you’re struggling to keep up with everything that you need to do on your properties. Maybe you’re a new landlord who is in over your head—the good news is that you're not alone. A property management company can be the perfect partner in a time of adversity for you and your new rental. If you’ve decided that hiring a property manager for your real estate investments is something that you want to do, the next step is choosing the right one—which may not always be so cut and dry. So how can you find the best property management company in the North San Diego County area? Here are some helpful tips to get you started!
Your Property Manager Should Be Local
Your ideal pick for a property management company should be an asset who makes your job easier and helps you to make more money. How well they can do this depends on how well they know the area they serve: if a property management company is handling your marketing and advertising, rental pricing, tenant screening, property inspections and maintenance, and paperwork, you want to be sure that they know the North San Diego area—just as would be expected of you.
Appropriate job performance includes knowing the type of market your property inhabits, how to price your property appropriately for that market, how to deal effectively with tenants, and where to find the right staff to handle maintenance issues. If you know that the property manager you choose can do these things well, you can be confident that they will work well for you. Spend some time making sure that the property manager you want to work with has a good understanding of the parameters of their job and you’ll make the right choice.
Begin the Search Online
It can be a smart idea to begin a search for property managers online. Searching online will allow you to search across a wide area and outside your initial social circle. This can serve you well by highlighting choices that might have escaped your notice before. Looking online can also grant you access to a broad variety of opinions in the form of ratings and reviews. Start your search with a big picture and make some notes about what property management companies sound like a good fit before going into more detail.
Get Local Referrals, Too!
Don’t neglect the power of word-of-mouth referrals. Soliciting the opinions of people that you know can be a great way to get feedback that you can trust. Ask around your personal and professional circles and put together a good set of choices to compare—but don’t limit yourself to just one person.
Digging up the Details
When you do put together a good set of choices, take the time to explore each candidate individually. You’ll probably want some degree of say in how you handle interactions with the property manager over your investments, so make sure to feel out how they treat those interactions. Not all property managers are the same, so don’t expect to find the same management style across the board. If you have a preference for how you want that relationship to go, find the right candidate up front and don't be afraid to voice your needs as a landlord.
Marketing Is a Must!
For a property manager to keep your properties full and earning money, they need to do an adequate job with marketing or advertising them to the rental market. Look into how well your chosen property managers do with this task and try to get a sense of how long their properties sit vacantly: if they have a reasonable turnover rate, then chances are they do a good job bringing in renters, and you’ll have nothing to fear. If properties seem to sit for a long time, then you might want to look elsewhere.
What Do They Do with Empty Properties?
When the property manager can’t get a vacancy filled, try to figure out what they do with it: some property managers will charge a fee for vacant units to account for lost income, while others may not. If you’re looking at a property manager that has a hard time filling properties and charges a fee for vacancies, it may be wise to steer clear!
Comparisons Are Welcome
After you’ve had the chance to look over a good selection of choices, see how they compare to each other. Try to find a couple of other property managers to contrast with your personal favorites. This way, you can feel out any strengths or weaknesses and drum up some other questions you might want to ask. Remember that you can always meet with a company one on one: you can get a good feel for how they’ll operate this way.
When you’re looking for a property management company to help you get the most out of your investment in North San Diego, Download our FREE guide to Choose the Best North County San Diego Property Management Company! At Raintree Property Management, we're convinced we can help you find the best property manager to care for your investment; put our extensive skills to work for you!
