Being a landlord in the U.S. can be an excellent-paying job; as ZipRecruiter.com reports, they make a yearly average income of $86,748. However, those in Livermore, CA, earn significantly more: $102,379 yearly!
With such high incomes come "great responsibility," though. Indeed, being a landlord and managing your turnkey property involves being on your toes 24/7. For example, you may have to answer calls from panicked tenants at midnight due to burst plumbing pipes.
But thanks to turnkey property management professionals, you don't have to carry the burden alone.
Join us at PMI Alameda County as we share insights into third-party turnkey property management services and why they're better than in-house.
Services Offered by Third-Party Turnkey Property Management
When you outsource your investment rental property's management needs to professionals, you'll have few to no admin and managerial tasks to worry about. Here are just some of the services that make third-party property management costs worth it:
- Conducting rental property valuations to establish reasonable rates
- Staying up-to-date on changes to Livermore, state, and federal rental housing laws
- Ensuring your property adheres to all applicable housing laws
- Marketing your property
- Implementing a fair and compliant tenant screening process
- Enforcing lease agreements
- Collecting rent payments and depositing them into your bank account on time
- Abiding by California's legal eviction process
If you opt for in-house management, you must do all the above tasks yourself. So, you must also have local property management expertise, such as a complete understanding of rental housing laws.
Otherwise, you could be in legal jeopardy if tenants file complaints against you. They may do so if you fail to comply with housing laws, like the California Fair Employment and Housing Act (FEHA).
Are There Any In-House Property Management Benefits?
Yes, there are.
One of the primary perks is that you won't have to pay for the services of a third-party manager. Because you'll do the tasks they'll otherwise perform for you, you can keep more of the rental payments you'll collect from tenants.
Another benefit is that you'll have more control and involvement in your rental business. You can make all the decisions regarding managing your turkey property, from how and where to market it to which tenants to choose.
Just make sure all your leasing processes comply with rental regulations. Because if they don't, the money that you've "saved" from not paying a third-party manager may just go into paying fines and penalties. You may even have to spend more if you make the mistake of renting out to the wrong tenant who can't pay rent on time or negligently/intentionally damage your property.
Don't Risk Your Livermore Rental Property and Income
While you may be able to reduce initial overhead costs with in-housing turnkey property management, it doesn't automatically mean you'll save and earn more. Management mistakes can lead to costly non-compliance fines and legal eviction costs.
So, don't risk it; instead, partner with our full-service property management firm, PMI Alameda County. Our highly experienced team, headed by licensed California real estate professionals, will use their skills, expertise, knowledge, and the support of PMI, our parent company that has, for over 20 years, been perfecting the property management industry to help make your rental business succeed.
Contact us today, and we'll happily provide you with a free property analysis!
