Being a rental property owner can become a full-time job – especially if you’re managing it on your own. If you own a rental in Santa Clara County where the housing market is doing exceptionally well, you should enlist the help of a local South Bay property management company who can insure that your rental income as well as the service your tenants receive is well managed.
Being a landlord in Santa Clara County
There are over 120,000 rental homes in San Jose alone – and many more apartments. As a rental property owner, it’s important for you to stay informed regarding the local property rental laws and ordinances in Santa Clara County. These include:
- Questions you can ask potential tenants
- Rights of the tenant
- Rights of the landlord
- Physical Disability
- Families with children
- Sexual orientation
These are just a few of the ordinances you need to know as a rental property owner. A good Property Management company will know the local city, county and state laws and regulations. They will make sure your rental is well managed and follows the letter of the law when it comes to renting out your house or apartment.
If you own a rental in Santa Clara County, there are a number of reasons why owners should hire a property management company. Maintaining a residence and finding and qualifying the right people to rent your property to can be stressful. Below are five things an experienced property manager can provide to make sure your rental is a profitable investment.
- Finding High-quality Tenants
Properly screening of potential tenants is one of the most important things you will do as a property owner – and it’s not as easy as you might think. You have to have an understanding what questions are legal to ask, and how to interpret the answers. An experienced property manager knows how to analyze information, screen and qualify potential tenants and identify red flags.
- Increase Your Investment
Maintenance is always an issue when it comes to owning any kind of property. Preventative maintenance can save you time, effort and money. A good property management company will perform regular inspections to make sure problems are caught in the early stages. They will also give you suggestions on upgrading your property and what things will reduce your maintenance costs. They will make recommendations about rent increases based on the local market and condition of the property. In addition, property management professionals will have a list of qualified, insured and bonded contractors who will be able to give you good pricing on all maintenance and repair costs.
- Assistance With Taxes
When it comes to taxes – not everyone has the knowledge to ensure all the information is accurately reported. You need to track monthly costs and the deductions you will be able to claim. A good property management company will provide a secure online portal so you can review all the costs of your property and provide an annual report for taxes. Did you know that the fees you pay a property management company are tax deductible? This is one more reason to engage the services of professionals to help you.
- Rent collection
No one enjoys collecting money from others. The way rent collection is handled can make the difference between failure and success as a rental property owner. When you have a property manager to manage this task for you – you will see that rent is collected routinely every month. You will have a consistent cash flow without the hassle of being a landlord.
- Personal benefits
A good property manager manages all the affairs of your rental and also makes sure your tenants are happy living there. This means you will have less stress, more freedom and time to do what you want. You can live wherever you want, spend your time doing more enjoyable or profitable things, and above all – you’ll have less stress.
Whether you own a home, condo or apartment in the Santa Clara County – consider utilizing the services of Valley Management Group. Valley Management Group is a South Bay property management company with over 35 years of experience and has many outstanding reviews from both rental owners and tenants. First time clients will receive a free quote and one month of professional services, and will have a highly valuable resource to enjoy the benefits of being a property owner.