Sacramento property managers, in general, do the same things. However, a good property manager will do things extremely well, follow through, communicate with owners and tenants, and take their service to a higher level.
Local Market Knowledge
A good property manager understands the area and what kind of property you are renting out. There’s a deep understanding of what the market looks like and how that impacts the amount of rent you can charge. Your property manager should be able to tell you how much rent you can earn and what sort of security deposit you can ask for from tenants. If updates and repairs are needed, a good property manager will help you coordinate those so the home is ready for the market. You don’t want to put a property on the market until it’s ready, otherwise you’ll lose money. Tenants will look at the home, but they won’t tell you if they don’t like it. You simply won’t get any applications, and the property will be vacant and not earning you any money.
Knowing When to Raise the Rent
It’s important not to price the property too low. Put the rental rate right at the market and get as much rent as you can. You also want to raise it when you can. Your property manager should know how to write it into the lease that the rent may be raised every six months. This is not uncommon.
Documentation and Legal Knowledge
The documentation a good property manager provides is invaluable. Property managers keep up on rules, regulations, and laws. They are constantly changing, and once or twice a year you’ll need to change the way you manage your property. Your manager will keep track of these changes and make it seamless for you.
Lastly, good property managers are always getting continuing education to keep on top of the industry. This allows them to know that they are providing excellent, efficient, and timely services. At the end of the day, you have to know that your property manager has your back and will manage the property as if they owned it themselves. If you can find someone who will care about your property at that level, hire them.