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5 Ways a Property Management Company Saves you Money in Costa Mesa, Ca

October 23, 2021

5 Ways a Property Management Company Saves you Money in Costa Mesa, Ca

You know that property management is an important part of owning property, but do you really understand the full extent? You knew there would be work….but you didn’t understand to what extent. If managing your properties is taking over your life, hiring a property management company in Costa Mesa, CA may be just what you’re looking for.

What Does a Property Manager Do?

Property managers, like those at True Property Managing, perform a multitude of work for you – essential work that’s required to keep your properties and business profitable. Below are some of the services we provide and how these services can save you money.

Effective Marketing and Reduced Vacancies

When property managers provide effective marketing and reduced vacancies, it helps property owners keep their property rented and the monthly income coming in.

Every day a property sits vacant, it costs money, and simply having a property – even a really desirable one – doesn’t guarantee you’ll be able to lease it. It also doesn’t guarantee you’ll get the best price for it. It takes an effective advertising and marketing strategy to find stable residents and reduce costly turnover.

A property management company gives access to a team of experienced professionals who know the market. They can effectively get your property in front of the right audience so that you don’t have any vacancies at all!

Reduced Maintenance Costs

Maintenance takes a lot of time and money on the part of the property owner. Property owners everywhere know that it’s a good idea to maintain their properties, but many people don’t have the time or expertise. The U.S Census Bureau estimates property owners spend more than 20% of rental income on maintenance- so if you’re responsible for maintaining an investment home then make sure it’s well taken care of.

Do you spend more than you need to on repairs, cutting into your profits? If you spend too little, you may not get the quality and reliability you need, forcing you to fix the same problems repeatedly. In order for a property owner to reduce maintenance costs, they must find reliable services with competitive pricing as well as enough spare parts on hand so those repairs won’t be necessary in a short amount of time.

Thankfully there are professionals ready for just this situation! At True Property Managers, we have the “True Repair Response” portal. Maintenance requests are submitted through our online True Tenant Portal. We will inform you, as the property owner, immediately about the request and how much it will cost to make the repairs. If you approve, we then coordinate repairs and handle vendor invoices and payments without adding a markup or commission. What you pay is the true invoice for the repair and nothing else.

Streamlined Rent Collection & Other Systems for Managing Property

Owners of rental properties frequently make the mistake of assuming that everything will be smooth once the lease is signed. If the tenant is late paying the rent, what do you do? Do you have a plan for dealing with that? At True Property Managers, we have a “Tenant” portal so rent collection and other fee collection are streamlined using our time-tested tools, policies, and systems. We also have processes in place to increase rent and tactfully communicate the justification to your tenants.

Fewer Legal Issues & Expenses

When you own an investment property, the legalities of it can be very complex. It’s important to make sure your lease is up-to-date and covers all aspects in case something goes wrong with any tenant or damage is done by one of them. A company like ours will know what kind of paperwork needs completing for tax purposes as well as eviction procedures depending on local housing laws; we’ll also ensure they’re adhered to the federal fair employment practices act against discrimination because there’s no telling how far these pests could go!

Your business will be protected from penalties for noncompliance by being informed about important changes in these areas. Their expertise can be a great resource for navigating regulations, as well as providing resources if needed. You won’t have to worry about having to reinvent the wheel – in the future, you’ll have procedures to make sure compliance is hassle-free.

Time is Money

Time is money. The responsibilities of property management, which include screening credit histories, drawing up leases, and maintaining tax records for many tenants over an extended period, can be time-consuming (and sometimes difficult) even if you have just a few properties.

Companies like True Property Managers are the best way to find tenants for your rental properties. We can manage them, do repairs on-site if needed, all the while, saving you money. Let us do the heavy lifting for you. Give us a call at 866-957-667 and talk with one of our managers in Costa Mesa, CA today.

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