About 36% of Americans rent homes from landlords and property management companies. Commercial rentals are also high, and leases tend to be longer while rents are higher. If you're looking for an in with a lucrative market, real estate is a great choice.
You'll need commercial property managers to take care of paperwork, find quality tenants, communicate with these renters, and keep your property in top shape. Read on to learn how you can choose a property management company that can help you relax while reeling in passive income.
Local Operations
It's important that you opt for a local property management company for many reasons. First, those in Antelope Valley will have complete knowledge of California's state and municipal laws. They also will have a deep understanding of the local real estate market so they can set fair rent and make you as much money as possible.
Local property managers also will be able to actually set foot on your commercial property. They won't just be talking to third-party maintenance experts remotely over the phone. They'll have roots in the area and possible preexisting connections with contractors.
Licensing and Experience
In California, lease management companies need to have a broker license. This license, given out by the California Department of Real Estate, lets them negotiate leases and collect rental income.
Property managers also need to have a salesperson license. Additionally, they must be associated with a broker who has a credible property management business. Going with a larger operation is a surefire way to ensure that your manager has all the legal licensing required to conduct above-board business.
Availability
Every landlord knows that problems with a property can come up at any time of the day or night. Pipes can burst at 2 AM. The water can turn off in the middle of the workday while people are conducting business in the building.
This is likely one of the main reasons you're hiring an always-available property manager!
It's important to make sure that the company you hire is actually available around the clock. Your tenants need to be able to reach them with any emergency maintenance requests or problems. After all, you want to provide good service so that you can continue to sign with quality tenants who take care of the space.
Good Reviews
Review sites will give you an idea of what other landlords who have worked with a manager think of them. You'll get real insight into what will happen when you sign on with a property management company.
Google and Yelp have basic information that you can get right away. The Better Business Bureau is also a great resource so that you can ensure the company has no recent complaints against them.
Hire Top Commercial Property Managers
Now that you know how to choose commercial property managers, it's time to sign on with experienced professionals who have the resources to help you. Our team is committed to helping you rent out your property, find top-notch tenants, and maintain the building over time. Get a free rental analysis today so you can determine the actual rental value of your property.
