Around 44% of investors hire property managers to oversee their rentals, which shows how popular they are.
Hiring a property management company saves owners a huge amount of time, from screening tenants to dealing with daily tasks. If you've never considered hiring a property management company, you likely haven't considered the time aspect.
If this sounds like your situation, you've come to the right place. Here are five ways property management in San Diego can save you valuable time.
1. Finds Reliable Tenants
A major reason to hire real estate services in San Diego is they help you attract credible tenants. Between 2023 and 2024, a staggering 93% of property managers said they had received fraudulent applicants with the most common being fake pay stubs, proving how important a critical eye is.
Property management companies have systems in place to vet tenants and ensure you only accept trustworthy applicants. During the screening process, property managers will conduct a thorough background check by checking the applicant's credit reports, references, and past eviction history.
Screening tenants is time-intensive, especially if you don't know what you're looking for. Instead, rely on property managers to complete it for you.
2. Handles Daily Tasks
Property oversight is essential as it protects your San Diego investment property. Most investors don't live near their rentals and rely on a property management company to deal with daily tasks. For instance, property managers handle maintenance requests, inspect the property, and conduct necessary safety checks.
3. Understand the Legalities
Navigating the complex web of legalities requires in-depth knowledge and time sifting through important documents. But when you hire tenant services, these professionals stay up-to-date with San Diego regulations so you don't end up in a lengthy or costly legal battle. This is invaluable when dealing with lease agreements or, in a worst-case scenario, an eviction.
4. Oversees Rent Collection and Tenant Communication
Another reason a San Diego rental management company saves time is because it communicates with tenants and collects rent.
If investors don't follow up with payments or reply to residents promptly, this can snowball and lead to bigger problems later on. For instance, you may miss out on an income, and unhappy tenants may file a grievance or move. Luckily, when you hire a property management company, you needn't worry about any of this.
5. Reduces Vacancy Rates
Outsourcing leasing solutions in San Diego means you needn't worry about vacancy rates. The time it takes to advertise, screen tenants, and draft leasing agreements is huge, especially if you have little experience. A high vacancy rate is an investor's nightmare because it costs time and money, but you can avoid this by hiring a property management company.
Ideally, property managers can get your property filled within weeks, rather than months, so you receive a regular income.
Hire a Property Management Company in San Diego Today
Now that you know how a property management company frees up your time, it's time to find one in San Diego. Hiring a property manager is fantastic for efficiency as they oversee daily tasks and strive to keep tenants happy on your behalf.
At McLain Properties, we have years of experience working with owners in the San Diego area to protect their investments. If you're seeking property management services, we'd love to help. Contact us here to chat with a member of our team.
