Property Management & Rentals
As an absentee property owner, property management is one of those things that need to be addressed in order to get the most of your Puerto Peñasco home ownership experience. When handled correctly, the right manager can help generate real bottom line rental revenue and protect your investment. If you, the owner, are engaged and working with the management company, the process is usually streamlined and revenues could be even greater. Choosing the right property manager can also help you reduce costs.
Here are some great reasons your home can benefit from the right property management.
Lower Costs- A good property management firm enables you to leverage established vendor relationships, staffing efficiencies, and best practices for preventative maintenance programs to minimize costs while preventing premature equipment failures that lead to expensive repairs. Furthermore, it can allow you to minimize your overhead, focusing your resources on your core objectives. Interview the managers and/or the owners of the management companies ahead of time, don’t choose a company based on what someone may have overheard, or may have a personal grudge against. This is your investment, make the best decision for ‘you’ based on what you know.
* When performing your due diligence, most agents know which companies do the best job for clients, their opinions should be helpful when weighing your decision.
Ability to Focus on Rental Revenue- Worrying about your property can prevent you from focusing on what is really important growing your rental revenue. Property management allows you to focus on the activities that drive revenue while still maintaining a property that is clean, operational and beautiful.
*Note- Properties that are very nicely furnished often have less wear and tear or damages from renters, which also increases revenue. Careless renters usually think twice about abusing when property appears expensive or well maintained.
Preventative Maintenance- Property management should be actively engaged in a preventative maintenance program to extend the life of your furnishings, equipment, appliances, and building structure. A proactive property management firm will implement routine checks for cleanliness, leaks, and structural issues to minimize cost and improve safety.
24/7 Coverage With Expert & Reliable Performance- Your home can benefit from a well-trained property management company that is able to perform the services needed to maintain your property on a 24/7 basis. This includes: good clear communication with owners, plumbing and electrical services, drywall repairs, painting, ceiling/floor tile repairs, maid and employee supervision, maintenance, and closing/opening of the home. While there are many options available, most reputable property management companies have a dedicated staff that is capable and ready to fulfill all of your property management needs. Communication is key.
Money Management- A key part of property management is handling rental funds, your home’s operational funds, employee management, and working with you to make sure you are protected from costly unnecessary problems. The company should have excellent accounting practices, be transparent with you, and offer easy to use software. This should be able to provide good clear accounting communication to the owner or their representative. There should always be checks and balances. Don’t let a company take advantage of you, and don’t be afraid to change companies, if needed. After all, it’s ‘your’ investment.
**Please contact Prestige Properties for Rocky Point Property Management recommendations that could and would be best for you.**
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