A lot of people ask what property managers do in exchange for the management fees we collect from owners. Today, our blog is going to explain what you get for your money when you hire a professional.
First, property managers screen and place tenants in properties. We also cover all the advertising and marketing of your property in order to find that ideal tenant and ensure you don’t have a vacant property.
In addition to advertising and placing tenants, we do a lot of day to day management. Rent collection is one of those tasks. We collect the rent, process the rent and deal with tenants who are late in paying the rent. We post Three Day Notices and rent reminders when necessary. It’s easy to collect rent when it’s coming in automatically, but if it’s not coming in, then you can benefit from a property manager. We have systems in place to make sure rent is paid on time and if it’s not, we can take action.
Property managers also deal with all of the maintenance requests that come in from tenants. We schedule repairs and handle emergencies. There are requests and phone calls at all hours, and the tenant needs to have someone to call when there’s a water leak in the middle of the night or early in the morning.
Property managers will also provide monthly bookkeeping for your property so you’re able to efficiently track all of your income and expenses. At the end of the year, we also handle all the reporting that’s required by the IRS and state of California.
Basically, a property management company will take care of your property, handle communication with the tenants and ensure your finances are in order. That’s what we do to earn our fee in Pittsburg.
If you have questions, or you’d like to hear more details about our services, please contact us at Wolfgang Property Management.