Whether busy with other business dealings or maybe merely desiring more free time, hiring someone to manage Santa Cruz rental properties takes care of either or both situations. Property managers handle a variety of designated tasks from interacting with tenants to accomplishing repairs and performing routine maintenance. In order to ensure that your properties are well cared for and managed properly requires finding an individual or a company who is experienced, organized and trustworthy.
Common responsibilities assigned to property managers include:
- Rent collection
- Taking calls from property tenants
- Tenant selection
- Arranging for or performing small or emergency repairs
- Acquiring owner permission prior to allowing major renovations or repairs
- Overseeing repairs and maintenance tasks
- Assuming responsibility for sending notices to tenants concerning late or nonpayment of monthly rent, rule violations or other notifications.
- Inspecting Santa Cruz rental properties as often as designated by the owner
- Providing the property owner with accounts of all incoming or outgoing financial transactions on a monthly or quarterly basis.
Once hiring a qualified property manager, owners need merely take care of mortgage, insurance and tax payments, though these are also tasks that managers are capable of handling. However, the property owner continues having the responsibility of ensuring that managers are fulfilling any and all needed jobs as per the contractual agreement.
While managers often agree to take on the responsibility of maintenance and repairs as needed, owners must ensure that these jobs are being performed according to expectations. If Santa Cruz rental properties begin declining in appearance, tenants may become disgruntled. Vacancies may not be filled with new tenants. Conversely, spending too much money on repairs or renovations eats profits.
If not desiring to approve of new tenants, owners must set guidelines and establish criteria for tenant selection. Owners might then make the final selection after reviewing a list of possible candidates. Managers should be acquainted with Fair Housing Laws in order to avoid a scenario that might include a discrimination lawsuit.
Therefore it is very important to hire the right property management company in Santa Cruz to oversee your rental properties. Please don't hesitate to call Distinct Property Management, Inc today to discuss your management needs: 831.420.0202.