Do you have a piece of property that is costing you money in taxes and not providing any income? If so, your best bet is to hire a Bay Area property manager to help you turn the money pit into an income generating asset. Property management controls real estate holdings and rents out the property for profit. For a small fee, the manager takes care of all the day to day requirements that the property owner may not be able to handle for one reason or another. The owner is relieved of the headaches associated with maintenance and upkeep as well as the screening that goes into choosing a suitable renter.
A Bay Area property manager acts as a liaison between the owner and the tenant of a property. The manager typically screens a potential tenant’s credit history, rental history, criminal history, and ability to pay. The manager also handles the rental agreement and any other legal documents regarding the property in question. The property owner usually grants the manager a Limited Power of Attorney so that any maintenance issues can be handled through mitigation and remediation on the part of the manager.
In California, a Bay Area property manager must have a license as a Real Estate Broker with the CA Department of Real Estate. This broker’s license is legally required of any person or company that leases or rents real property for compensation. The manager’s duties include but are not limited to solicitation for prospective tenants, negotiating the sale or purchase of leases, collects the rent, and makes improvements to the property. The manager is also responsible for evicting tenants who do not pay, home repair and improvement, lawn maintenance, snow removal, security monitoring, and many other duties.
A number of property owners have demonstrated the desire to act as their own Bay Area property manager. This way they can avoid the management fees that must be paid each month to a traditional property manager. There are firms available to help the owner take over as the manager by streamlining the management process so that the day to day activities are not a headache. They use property management software designed to be user friendly for increased profitability for the property. Increased numbers of owners are becoming their own managers through the use of this property management software.
