The cost of renting in San Diego is quite high, although the price no longer seems to be rising like it has been. If you own rental properties in San Diego, or are thinking about getting into the landlord game, you can expect to collect a large sum in rent payments. But don’t forget that your tenants may also have high expectations in turn for what they are paying.
It can be a good idea to hire a property manager, who will help you deliver the best service to your tenants without getting overwhelmed. Unfortunately, finding the right San Diego property management firm can be tricky, especially if you do not know what to look for. This guide will help you find a property manager who is perfect for your needs.
There are tons of property managers out there, and of course, they all claim to offer the absolute best quality and service. To narrow down this overwhelming list of options, a good place to start is by getting a referral from someone you trust. Some good places to start are with any friends who own property. They may have some suggestions to help you out. Alternatively, if any of your friends are renters they may have experience renting from different property managers. And if neither of these options suit you, your realtor may have property manager that they can recommend to you.
Once you have some good candidates, interview each one in-person if possible. Ask each candidate about their advertising methods, how they handle troublesome clients, how you will be able to communicate with them, and any other questions or concerns you may have.
As you are getting a feel for them, try to consider not only the impression they make as someone who will potentially work for you, but also the impression they would make if you were a tenant. Are they someone you trust to handle emergencies and to represent you in your dealings with other people? If a tenant has a bad experience with your property manager, they are unlikely to make the distinction between you and your property manager, and could hold bad feelings over your head.
Once you have narrowed down a selection of property managers, it’s time to look at the terms of their agreements more thoroughly. You should of course read and understand the entirety of each contract, but in particular think about the specific services each one provides, their pricing, the minimum length of the agreement, and the termination clause. The last thing you want is to get stuck with a bad property manager but not be allowed to fire them.
The services provided by a property manager and their pricing usually go hand in hand. If they offer many services, they will probably be more costly. This may be a big deciding factor for you. If you think you would rather take care of some of the management process, chosing a more cost effective manager with less services may be a good option for you. But if you would rather be completely hand off, you may end up paying a bit more for the service.