You are probably aware of how stressful maintaining your own home can be. Imagine maintaining property that you are renting out to other people! It does not take much to realize that you could be getting yourself into a world of hurt if you have to do it on your own.
First, you have to advertise your rental property. Next, you have to check out the applicants for a tenant who will not trash your place or run out on you for the rent. Even if you have strict rules and regulations in your lease contract, you still have to enforce them.
Afterwards, you have to address their concerns and issues at every step. Moreover, you need to take care of all licenses, draft and file lease contracts, pay taxes, pay bills, and contract for services. The list goes on and on without end.
Property management takes care of all of these for you. You will not have to be physically present for any of these tasks, so you can be in Texas and still have rental property in San Diego.
The property manager will find a good tenant for you, collect rent, inspect the property, arrange for maintenance and repair, and address any tenant issue that may come up. The property manager will also prepare the necessary documents, ensure legal compliance, keep records and prepare financial reports for you. In other words, they take care of everything!
Of course, you have to pay a fee for these services. According to renthomes.com, property management fees in San Diego can be a flat monthly fee or a percentage of the rent. In most cases, property owners tack on the costs to the rental fee. This can make it more difficult to rent the place out, though. However, that is not your problem, is it?
Whether you decide to offset the cost or not, the fee will be worth it, especially if you have more than one rental property. Time is a resource, after all, and spending it wisely means finding one who can manage your property without having to do it yourself.