Do you own rental properties in Silicon Valley? Are you exploring managing the property yourself?
Well, you are not alone to be motivated by the savings, but let’s explore the advantages of hiring a property manager before you make your decision:
Existing Service: When you hire a property management company, all the forms, software, services that you need to manage your property is included. You don’t have to search for the best software for rent collection, tenant screening or background checks. Your property manager will do this all for you. This will save you tons of time if you had to start this yourself from scratch and develop the legal forms for all sorts of conditions including evictions, inspections and disclosures.
Stress & Time Management : By hiring a property manager, you are buying time for yourself to enjoy on tasks that you enjoy. You will not need to screen, hire and retain a handy man to help you with repairs. Your property management company will take care of that for you.
Opportunity Cost: If you have a full time job and are earning a very good salary, then hiring a property manager will allow you to continue with your career without any distractions.
Outsourced Headaches: If you hire a property management company, you will be outsourcing all the headaches associated with tenants to someone else for a fee. Most property management companies charge anywhere between 4-20% of the monthly rent to manage your property for you.
Depending on what services covered in your property management agreement, you can determine if the ROI make sense for you to hire a property manager or not.
Contact Us if you stil need help managing your rental properties in Los Gatos, San Jose, Campbell and Saratoga.