Although San Diego property management can be a Do-It-Yourself job, what you think you might be saving in dollars may be outweighed by what you are spending in time. If you are able to spend time serving as the landlord, and you also have the resources to find qualified vendors to help you with maintenance at discounted rates, then the DIY landlord path will probably work just fine for you. However, if you have other ideas on how to spend your time, then you might want to ponder the benefits a professional property management company can provide you.
A rental property requires time and money. But, if managed well, you can see returns on your investment while also being able to spend your free time as you wish. But, in case DIY still calls out to you, first consider these difficulties.
Finding prospective tenants requires time and work
Finding a quality and qualified prospective tenant for your rental property typically takes a good deal of time and effort. To do so, you will need to place ads, be available for property showings, deal with appointment no-shows, and spend time after business hours and weekends till your property is rented out. This can be a long/costly process, yet with a quality San Diego property management company, all of this can be done for you by experienced professionals.
Tenant applications require even more time and work
Credit reports, background checks, sex offender lists, and rental histories, should be checked for every rental applicant above 18 years of age. Doing so will cost you time/money, yet is essential for you to be responsible to both your rental property and the immediate neighbors. You will need to review and be familiar with not only the Federal Fair Housing Act, but also local/state ordinances and statutes to ensure you are compliant.
Tenants will have regular requests for repairs. As part of your rental property’s normal wear and tear, things will need to be repaired/replaced. Additionally, larger appliances such as heaters and air conditioning units will require ongoing maintenance. You must determine whether you can take care of these aspects your own, or whether you will hire someone to do it. After reviewing the cost/time requirements of maintenance and repairs, you might want to consider the benefits of a San Diego property management company.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.