Rancho Bernardo Property Management Services

Property management is the daily oversight of residential, commercial, or industrial real estate by a third-party contractor. Generally, property managers take responsibility for day-to-day repairs, ongoing maintenance, security, accounting, and upkeep of properties. Property managers (those employed by the property management company) usually work for the owners of investment properties such as apartment and condominium complexes, private homes and multi-family dwellings, commercial buildings such as retail malls, and industrial parks.

The main role of most property management companies is to generate income while managing the day-to-day tasks that are delegated to them by the owners.

A property manager’s duties include, but are not limited to: rent collection, bill payment, lease generation and administration, tenant screening and placement, eviction protection, property inspections, property valuation, property showings, move-in and move-out evaluations, landlord-tenant relations, risk management, monthly and annual accounting, maintenance coordination, accounting and invoice processing, legal and regulatory issues management, and serving legal notices among other things.

The exact cost of property management services vary greatly depending on which company you use, as it is not set or regulated by laws or state regulations.

In general, however, most property managers charge a specific percentage of the rent that is collected each month.

Always do your research before hiring a property manager. Ask plenty of questions, and read the company’s online reviews and take a look at their website if applicable. Here are a few questions you may want to ask before signing up with a property management company.

• How much do you charge?
• Are there any additional fees such as tenant placement fees, sign up fees, etc.?
• Do you require a reserve? If so, how much? (The property reserve is the amount held by the property management company in the Trust fund in order to pay for an emergency repair, if required.)
• How often will you contact me? Will you call me about all repairs and maintenance issues?
• How do you screen tenants?
• Where do you advertise your rentals?
• What is the process for signing up?
• What sort of things do I need to do to my income property in order to prepare it to rent?
• Where is your office located?

Yes – in the state of California, anyone advertising their services as a property manager must hold a California real estate salesperson’s license and be working under the supervision of a licensed real estate broker. Our Broadpoint Properties team in Rancho Bernardo includes 1 broker, 3 broker associates, and 5 agents, in addition to our administrative staff.

Owning a rental property can be extremely lucrative and incredibly rewarding; but if you aren’t familiar with the state laws and regulations regarding the collection of rent, serving notices, and making repairs, it can also be quite stressful.

This is why the first thing that many investor owners do once they purchase a property is hire a professional property management company. Using a professional property management company can reduce headaches and free up an owners time. And perhaps most importantly, an owner who uses a professional property management company such as Broadpoint Properties can rest assured knowing that their home is being well-managed by an experienced team.

While each property management company has different policies and procedures, in general property management companies do not evict tenants – unless they have an attorney on staff.

At Broadpoint Properties, we are able to prepare the necessary paperwork and serve legal notices if an eviction is required. We’ll then work with both the owner and one of our preferred attorneys to ensure the eviction is handled swiftly and efficiently.

In general, property management companies do not pay for property repairs out of their own funds. Instead, they use the collected rent or reserve funds in order to pay any repair or maintenance bills on behalf of the owner.

If you want to start off on the right foot with your income property, it is important to find a property manager in Rancho Bernardo who is professional, experienced and has good communication skills. If you know anyone in your area who rents out a property, ask them if they use a property manager and whether they would recommend that individual.

Also, take some time to read the online reviews of the property management company—both from owners and from tenants. Then, pick up the phone and call those who you believe might be a good fit for your needs. We hope that your selection includes Broadpoint Properties in Rancho Bernardo, CA! Our skilled team looks forward to hearing from you and answering any questions you may have.