If you are investing in rental properties, you can reduce your operating costs significantly and increase revenue at the same time by hiring a competent Los Angeles property manager. While you can manage properties yourself, you might lose more money than you make from the rent you receive from tenants. An expert professional who knows how to communicate with them and ensure regular maintenance can help you earn more.
Of course, any manager won’t do. To ensure you choose one that you don’t regret hiring, ask each potential candidate the following questions:
How Can You Improve Cash Flow For My Properties?
In an ideal world, every tenant would pay rent on time, and you can get the best repair deals from every vendor you approach. Unfortunately, the reality is harsher. Even if you think you have the best pricing from a vendor, someone else may offer the same services for less price, or renters may fall behind on their rent multiple times a year.
A competent and experienced property manager will not allow things to come to this point by taking all the required steps. These steps include ensuring that each tenant pays the rent on time, controlling expenses by forging relationships with reliable vendors, and ensuring that your properties generate steady cash flow.
Do You Have a Team?
A successful and efficient Los Angeles property manager should have several staff members who can handle grunt work or streamline the services on offer. The more people they have, the better, especially if your properties are spread out across LA or are numerous.
Of course, even a large team can prove to be incompetent if the members do not have sufficient training or expertise in property management. Make sure that you ask about their credentials and their role in the company so you can get a good idea as to how your assets will be managed.
What Is Your Fee Structure?
In most cases, the amount paid to Los Angeles property managers is based on the rental income that comes from the properties under their care. However, the amount also includes additional charges, such as for maintenance markups, emergency services, finding tenants, evictions, court charges, etc.
To make sure that their clients don’t end up paying for services they don’t need, a reliable property manager will outline a clear fee structure in writing and make it part of the management contract.
Get the Best Property Management Service from Pezzini Luxury Homes
Pezzini Luxury Homes is well-prepared to be the first line of defense for property owners and investors in LA. As your go-to service for tenant dispute resolutions and reliable maintenance services, our goal is to ensure our relationship with clients is as transparent and efficient as possible.