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Working with a professional property management company is a good idea for any investor.
But, for landlords who live outside of the area, it’s absolutely critical. If you’re an out-of-state landlord or an investor who lives out of the country or even in a different part of California – you need to find a local expert who can protect your property and respond to the needs of your residents.
When you’re looking for the right property management company, make sure you find one that uses great technology, communicates proactively, and knows how to take care of routine, emergency, and preventative maintenance.
Local Expertise and Experience
A local property management company will be invaluable when you are too far away from your rental property to lease it, manage it, and maintain it. When it’s vacant, you’ll need to advertise the home, show it to applicants, screen those applicants, and take them through the lease negotiations and move-in process. You’ll need to collect a security deposit and conduct a move-in inspection that effectively documents the condition of your home. Then, you’ll need to collect rent and ensure your residents are following the terms of the lease and taking care of the home.
These things are difficult to do when you’re not local. Traveling back and forth every time your property is vacant will get expensive and stressful. You don’t want to leave these tasks in the hand of a friend or a family member who may still be in the area. Make sure they’re done correctly, professionally, and in accordance with all state, federal, and local laws. Work with a local company that specializes in managing for out-of-state landlords. You will have much better results.
Technology Keeps You Connected
Look for a property management company that’s willing to invest in technology. You need experts who have a reliable and responsive online platform so you can ensure your rent will be deposited electronically and on time. You’ll want to see detailed and accurate financial statements every month, and you’ll want the process of filing your taxes to be as easy as possible. A good property manager will allow you to log onto your own portal to see what’s happening with your property. You can review maintenance requests, take a look at inspection reports, and look at pictures of your rental home. If you’re living in another time zone, communicating online makes the most sense and keeps you connected to your management team and your investment property.
Maintaining Your Whittier Rental Property
As a landlord living hundreds or thousands of miles away from your rental property, you’ll have a very hard time responding to maintenance emergencies. If your resident notices a leak or calls to report a tree down in the middle of the night, you’ll need local property managers to respond. You’ll want a management team that has excellent vendor relationships and resources when it comes to mitigating the damage and responding to problems.
Your property managers should handle routine repairs with the same sense of urgency, and they should always be looking for ways to save you money and keep your property well-maintained. Preventative maintenance is crucial, and it lets your residents know that you care about the condition of your property.
These are just a few of the reasons you want to hire a qualified Whittier property management team when you’re investing in local properties but you live elsewhere. If you have any questions or you’d like more information, please be sure to contact us at LS Property Management.