Hiring a property management company to look after your property and tenants is an ideal solution nowadays. This solution is best if you're a first-time, inexperienced landlord who is tired of the hassle of dealing with weekend maintenance calls.
In this article, we will discuss how a property management company in Torrance helps in renting your property.
Understand the landlord's responsibilities.
Being a landlord entails a lot of work and calls for specific skills, knowledge, and experience. Property management companies in Torrance can assist you when you are unable to perform your landlord duties for any reasons.
Property management companies in Torrance, CA have professional experts who know how much to charge for rent. What return rate might you expect to get on your rental investment? Aside from this, they also know how to handle maintenance and repairs & find a trustworthy and polite tenant, and much more.
Nowadays, people who don't have much skill or time are opting for property management companies without having any second thoughts.
Know the federal, state, and local landlord-tenant laws.
Landlord-tenant laws help protect both parties. As a landlord, understanding the law is essential to running a safe and profitable business with minimized risks. Ignoring the provisions of the law can get you sued for disobedience.
However, due to your busy schedule or anything else you may not have much time to spend learning these laws. In that scenario, property management professionals take care of the laws that both you and the tenant have to follow.
The following are some of the laws that property management company experts must know.
- Required Disclosures. According to the landlord-tenant act, you must make certain information known to tenants before the lease signing. For instance, you must inform them about non-refundable fees, fire safety, and mold presence.
- Security Deposit Rules. These laws are also contained in the landlord-tenant law. For instance, you have to provide your tenant with a written receipt after receiving their security deposit and return the deposit (or whatever is left) within 14 days after the tenant moves out.
- Fair Housing Act. According to this act, you cannot discriminate against a tenant based on their protected characteristics. Such characteristics include race, color, sex, disability, national origin, and familial status.
Make your home rent-ready.
With a property management company in Torrance, CA, you will get a property ready to be rented, which helps you stand out from the competition in your community.
Not only this, but they also help with some other things, which include
- Freshen it up. This includes painting new walls, getting a new carpet, or changing the landscaping.
- Clean it thoroughly. They provide you with a thoroughly clean house as they have various contacts with professional cleaners.
- Make sure everything operates correctly. They also help in checking out the functionality of systems and appliances by testing them. They verify the water faucets, electricity outlets, and lights.
Start the marketing process immediately.
The next and essential stage is to start marketing of the rental property once the company has finished making it rent-ready. Most of the time the companies help to promote your property by producing an appealing advertisement.
Tenants are typically inundated with hundreds of listings when looking for their next property. Your rental advertisement must be distinguished from the competition.
- Screen prospective tenants thoroughly.
Normally, as soon as your rental advertising is online, the company will receive inquiries from potential tenants. Analyzing all the applications and renting the house to good renters helps increase income. A suitable screening procedure looks at the tenant's credit rating, income level, rental, criminal, and employment histories.
That’s all.
Real Property Management Choice is one of the best property management companies in Torrance, CA that can help you manage your property. Please feel free to contact us for more information about our services.
Being a responsible property owner, you should not make a big oversight of not thoroughly screening the tenants before they move in your rental houses.
Every property owner wants to obtain a quality tenant in their rental houses.
More often than not, they are thoughtful and supportive in nature.
They almost always help landlords keep the property well-maintained and cared for.
They will often neglect or even create problems that cause costly servicing, renovations, and repairs of your property.
So, it is imperative to make a thorough research of prospective tenants so that you can indeed obtain quality leaseholders and have peace of mind.
