Experienced and beginner real estate investors know that one main factor of profitability is investing in areas where people want to live. “Invest into demand,” the saying goes, and Santa Clara County certainly continues to be a real estate market in high demand.
It’s a high-density area with many high-paying jobs, which is typically the right mix for rental property owners. Rental rates are high, but so are the acquisition costs of properties. So, demand isn’t the only determinant of profitability. How well a property is managed can go a long way toward determining its income potential.
An investor who manages a property themself can face challenges that leave dollars on the table. The alternative to managing a property yourself is to hire a management company instead. Professional property management services offer multiple benefits.
Know the Local Real Estate Marketing
A company that handles Santa Clara property management will likely be in tune with the rental real estate landscape. They will understand market rental rates, current market trends, and even things such as ongoing maintenance costs and local codes. Any misstep in any of these areas by a property owner attempting to manage a property themself is a potential loss of income.
If the value of real estate, whether a primary residence or a rental property, is truly about “location, location, location,” then it only makes sense to entrust property management to someone who’s in tune with the location.
Know the Necessity of Good Property Management
An investor who manages a rental property themself can face many challenges, including rent collection, maintenance, local code compliance, tenant attraction and retention, emergency response, and more. One of the worst experiences a rental property owner can have is getting a call in the middle of the night from a tenant who’s late with a rent payment and wants to report an unexpected problem at the property.
A trustworthy, experienced Santa Clara County property management company can help alleviate that stress by providing rent collection that meets the rental property owner’s needs and around-the-clock emergency services. You don’t have to take that distressed call in the middle of the night.
Know the Major Benefits of Professional Property Management
Aside from not being awakened by a tenant’s phone call in the middle of the night, which is a peace-of-mind proposition, a property management company can provide six critical services that certainly impact a rental property’s profitability.
Tenant acquisition – Great tenants usually mean great experiences (and greater income) for rental property owners. A property management company with efficient and effective marketing tailored to the area can be significant.
Rent collection – A property management company with a streamlined process for rent collection and reduced delinquencies helps ensure profitability for the rental investor.
Maintenance and repairs – A good property management company conducts regular maintenance and inspections, often saving the property owner from unexpected expenses.
Legal compliance – No property owner wants to run afoul of the law and end up in court, and having a property manager who knows the ins and outs of federal, state, and local laws/codes protects against legal jeopardy.
Financial reporting – A rental property is a business, and every business needs someone to keep the books. Hiring an experienced property management company should ensure that proper record-keeping and financial paperwork are taken care of.
Local expertise – If you’re looking for a deep understanding of local trends, renter demographics, tenant expectations, and upcoming opportunities for investment, property management with a finger on the local pulse can be invaluable.
Valley Management Group’s Distinctive Approach
Valley Management Group has more than 40 years of experience in Santa Clara property management, which is a testament to the success provided to rental property owners.
Whether a multi-unit apartment building or a single-family residence, Valley Management Group provides specific services tailored to the rental property owner’s needs. The company has countless five-star online reviews from owners and tenants, which exemplifies how, over decades of service, they’ve fostered the relationships that help make any rental property more profitable.
Remember that every rental property is a business, which means you compete with other owners. An experienced, qualified property management company puts you at a competitive advantage. Contact us to get a free management quote and get one free month of property management services.