Deciding whether to manage your own property or hire a professional Santa Rosa property management company is a big decision. It really depends on how much time you have to devote to your property and the needs of your tenants. It’s also important to consider what you know about the industry and the landlord and tenant laws that are currently enforced in California. The laws have changed dramatically just in the last year, and if you’re not on top of what that means for rent control, evictions, and tenant screenings, you could find yourself in a lot of legal trouble.
We always think professional management is the best answer, whether you’re a new landlord or an experienced investor.
Today, we’re discussing why it’s a better – and more profitable – idea to work with a professional Santa Rosa property manager.
Placing Qualified Santa Rosa Tenants
A good tenant will contribute to a positive and profitable rental experience. You’ll collect rent on time every month, maintenance issues will be reported, and your tenant will follow the lease and take excellent care of your home.
It’s possible you’ll place such a tenant as a self-managing landlord. But, there’s also a chance that you’ll have a tenant who doesn’t pay rent on time, damages your home, and moves in unauthorized pets or people. You’ll end up spending a lot of time and a lot of money chasing down late rent, sending notices, and threatening eviction.
A professional property manager has the tools and resources that are required to conduct a thorough and legally compliant screening. Before approving a tenant, credit and criminal backgrounds will be checked. Income will be verified, and prior landlords will be contacted.
Protecting Your Property’s Condition and Value
Will you know who to call in the middle of the night if a water tank explodes or a sewer line starts leaking? Your tenants will need access to you 24 hours a day and seven days a week if you’re going to self-manage your rental property. You’ll need a list of local licensed and insured vendors.
When you work with a management company, all of this will be taken care of for you. You’ll be kept informed about the repairs that are needed at your property, and your managers will already have outstanding vendor and contractor relationships in place. You’ll also have an experienced professional keeping an eye on your investment, ensuring its condition is preserved and its value is always increasing.
Keeping Up with Legal Requirements
The latest rent control and eviction laws have big implications for Santa Rosa landlords. There are also fair housing laws that need to be followed, and you’ll have to understand the difference between a pet and a service or support animal. If you don’t return the security deposit properly, you can expect a lawsuit from your tenant. If you try to evict a tenant by changing the locks or turning off the water, you’re going to be in a lot of legal trouble. Self-managing landlords make a lot of costly errors without intending to. Your property management company can protect you from these mistakes and ensure you and your property are in full compliance.
We think you can manage your own rental property – but, why would you?
Contact us at Redwood Residential Property Management, and we’ll tell you more about why professional Santa Rosa property management makes more sense.