Discount Property Management Brokerages: A Cautionary Tale for Landlords in Chula Vista
Discount brokerages have been around since the beginning of time. They look good on the surface. At a glance, if something is priced less, it makes sense to save the money. In this business, there is a direct correlation with the type of results you get and the amount of money you pay your property manager. You don’t have to look too hard to find someone who will manage your property for only five or six percent. But, they will deliver no service and give you subpar results. That’s not why you got into this business of investing in real estate and renting out properties.
Property Management Fees and Correlating Service
When tenants see For Rent by Owner, it’s implied that they can discount whatever the asking price is. If you were to buy a Rolex watch at a garage sale, you wouldn’t expect to pay full price for the watch. Put the watch under a glass case in a high-end store, you know what you’re paying for and what you’re getting. Working with a professional management company helps you. We have done our homework. We do this for a living and we have a full time, dedicated staff. There is a sequence of events we take people through to qualify them and ensure they can pay the rent.
Understanding the Cost of Property Management
When you think about it, a qualified, full time property manager charges fees that match the services they provide. The cost of property management covers licensure, insurance, and bonding. Our management fees support a knowledgeable, full time staff. We have 24 hour responses to emergencies like floods and fires. We can manage restoration services. All these things are not things that property owners often think about. You can probably throw up your ad on Craigslist and find your own tenant. It may seem easy. Well, it’s easy until you find yourself in a legal mess. This is a business that’s riddled with litigation and exposure to liability.
If you’re thinking about buying an investment property or you currently have one, hire a great Chula Vista property management company. Talk to us about what you need to consider, and we’ll show you how we can make a difference and provide value in managing your property. Contact us at Noble Real Estate Services.