Owning a rental property is a great investment for entrepreneurs and real estate investors. But what if you become a landlord by accident?
If you weren't planning on renting out a home to tenants, the prospect of being a landlord may feel overwhelming. After all, if you want your property to be lucrative, rather than costly, there's a lot of work to do.
This includes listing your unit, screening potential tenants, maintaining the property, collecting rent, drafting a lease agreement, and more. Most accidental landlords don't have the time or ability to deal with all of these tasks.
So what do you do?
We're glad you asked. Keep reading to learn how to be a hands-free landlord in Southern California.
Full-Service Property Management Solutions
Accidental landlords who want to be hands-free need to hire a company to handle their rental properties. Whether you inherited a property or decided to rent rather than sell your old home, they can provide vital services. This is especially important for people who have other properties to manage, work full-time jobs, or have other commitments.
Here are some examples of the services property management companies provide.
Property Advertising, Tenant Screening, and Lease Drafting
One of the hardest things about becoming an accidental landlord is figuring out how to get renters into your property. However, it's not just a matter of advertising your listing, it's also about finding the right tenants.
Property management in Southern California can handle all of this for you. They will list your property and screen tenants to find the best renters based on your parameters. They'll also draft a lease specific to your property to make sure your tenants know exactly what's expected of them.
Tenant Management and Rent Collection
Full-service property management helps accidental landlords deal with their tenants. After the application and screening process, this means collecting rent checks and carrying out rental property inspections.
If necessary, your property managers will also give eviction notices to tenants who fail to pay or follow the rules and policies of your lease agreement. This can save you a lot of stress and frustration, particularly if you have a busy and hectic life already.
Property Maintenance and Repairs
Finally, if you want your property to be lucrative, you must provide quality living standards. This means taking care of regular maintenance issues and any home repairs that come up.
Many accidental landlords lack the time, tools, and knowledge to handle these things on their own. If you have a full-time job, even scheduling repairs can be a problem.
Yet, if your tenants go without heat, AC, water, or power, they'll become dissatisfied with your unit. Maintenance and repair issues should be taken care of as soon as possible.
Property management in Southern California can cover these issues in a timely manner. If they can't handle the repairs themselves, they will find an expert who can.
Need Help for Accidental Landlords in Southern California?
Are you in need of landlord rescue? If so, don't feel bad. Few accidental landlords are prepared to handle their surprise rental unit.
Fortunately, there are property managers in Southern California that can help. We're one of them.
Contact us today to learn more about our property management services. We would love to help you take care of your property and your tenants so you can sit back and collect a rent check.