Successful real estate investors spend a lot of time strategizing to increase their return on investment (ROI). One of the best ways to check off as many boxes as you can while driving your earnings up and your expenses down is to work with a professional Long Beach property manager. To each your real estate goals, you need to treat your portfolio like a business, even if it only contains one investment property right now. Effective businesses require a team of experts.
Here’s how Long Beach property managers help investors like you grow their portfolios and maximize what they earn on their rental properties.
More Efficient Leasing Leads to Lower Vacancy
Statistics show that tenants who are screened and placed by professional property managers are typically better qualified than those selected by independent landlords. This stands to reason; property managers will have a set of qualifying rental criteria in place and they’ll screen each application rigorously and consistently. We do all of this in accordance with the strict fair housing laws California has in place. You can expect a more efficient leasing process, which leads to lower vacancy. That lower vacancy rate means more money for you. Better tenants also deliver higher ROI because there’s less property damage, a lower risk of late or missing rental payments, and a higher likelihood that the lease will be renewed year after year. Property managers already have systems in place to manage the leasing process. We’ll handle showings, follow up with prospective tenants, and take care of the application process. Leasing is more efficient and cost-effective when it’s being done by professionals.Keeping Rental Property Repair Costs Down
With a qualified tenant in place, you can expect your property management company to take care of any day-to-day issues or logistics associated with your rental property. This includes collecting rent and enforcing the lease agreement. Your Long Beach property manager will handle the entire tenant relationship, answering questions and responding to requests. You can expect responsive attention to maintenance and repair issues as well as a focus on preventative maintenance. Most importantly, repair costs will be kept in check. All maintenance is growing more expensive, but a reliable management company will have access to an affordable and effective team of vendors and contractors who are licensed, insured, and willing to stand behind their work. When a property manager is keeping a close eye on the functions of your home, you’ll have fewer surprises and less expensive repairs. You won’t have to worry about the extra costs of deferred and unreported maintenance.Protecting Your Time and Your Assets
Leasing, management, maintenance, and tenant relationships are what professional Long Beach property managers do best. When you leave your investment property in our experienced hands, you have more time to do what you do best. Maybe that’s focusing on your own career or pursuing your passions. Maybe you want to use that time to explore additional investment opportunities in this market or in others.
You didn’t invest in a rental property in order to take on another job. You invested to earn passive income and grow a successful portfolio. We can help you do that. Contact us at HCM Property Management. We’ll share some tips for your investment that can help you earn more and spend less right now.
