Property management in Newport Beach, CA is a challenge. Hiring a property manager is one of the most important decisions you’ll make. It’s critical to know if your property manager is doing their job by evaluating these five key areas: tenant screening, rent collections, lease agreements, maintenance and repairs, and marketing. If any of these are not being done properly it could cost you money or even worse- lose tenants! Make sure that your property manager understands what they’re responsible for before signing on the dotted line.
Tenant Screening
Tenant screening is an important part of property management in Newport Beach, CA. Professional property managers should screen tenants by verifying their identity, income, and rental history to determine if they are a good fit for the property. They should also be checking criminal records, credit scores, and references. The screening process can be arduous but it’s worth it because tenant turnover is costly and time-consuming.
Rent Collection
A property manager should be collecting rent from tenants on a monthly basis. True Property Managers in Newport Beach, CA have a system set up to process tenant payments and alert property managers if there is a problem with the payment or another issue. With our Tenant Portal, we make rent payments an easy process for your tenants and easier for you as the property manager. No more knocking on doors for you! If your tenants don’t pay, we handle it.
Lease Agreements
In property management, a lease agreement is a legal document that sets the terms of a property rental. A property manager may draft this contract or it may be provided by the property owner. Lease agreements should include all aspects of the rental including:
- The amount and frequency of rent payments
- The length of time for which rent will be paid
- The amount and type(s) of security deposit required (e.g., refundable vs nonrefundable)
- Renters’ responsibilities as tenants, such as maintaining their residence in habitable condition and notifying the property manager if they intend to move out early
- Landlord’s responsibility to provide services such as heat, water, electricity, etc.
There are many other clauses that property managers and property owners alike may add to their lease agreements, particularly in commercial property leases. This is something you need to discuss with your property manager.
A property manager is usually required to obtain copies of the potential renter’s identification cards and background check so that they can cross-reference names and dates with county records. These documents include:
- Driver’s license
- Passport
- Social Security card
The property manager may need to collect all the above, plus a front and back copy of the property renter’s credit/debit card. With our years of experience, True Property Managers make sure no stone is left unturned.
Maintenance & Repairs
We all know that property management is a difficult job, but it’s even harder when you’re dealing with the headache of maintenance and repairs. The task of finding reliable contractors can be daunting, especially for small companies without the resources to do extensive research. It takes hours to find good ones and then there’s always a risk they won’t show up or will do shoddy work.
Professional property management in Newport Beach, CA should include handling the headaches of property maintenance and repair. A reputable property manager should already have a list of reliable service companies that provide maintenance and repairs they can trust while making sure you are not overcharged for their services. Many service companies give lower rates to property managers because they know they’ll get more work from them. A good property manager can pass on these savings to you.
True Property Managers has an A+ list of vetted contractors who have been in business for years in Newport Beach, CA so you don’t have to waste time calling around yourself. They’ll handle everything from plumbing leaks to major appliance replacements so you can focus on running your business instead of being distracted by this never-ending chore.
Marketing
Many property managers are not professional marketers. They may be great at managing the day-to-day operations of a rental, but they don’t know how to market your property in a way that will attract high-quality tenants and increase your revenue. Professional property management in Newport Beach, CA should provide professional marketing services such as magazine-worthy photographs and professionally written property listings to help you get higher quality renters and increase your revenue.
The best way to make sure this happens is by hiring a full-service property management company like True Property Managers. Our team of professionals can manage all aspects of the rental process for you, including marketing, tenant screening, lease signing, maintenance requests, and more. We also offer optional add on services such as photography packages so we can take beautiful photos of your home which we then post online along with our professionally written listing descriptions which include details about each room in the home along with information about local schools, shopping centers and other amenities within walking distance of your property.
Hire a Property Management Professional That Works for You
Hiring a property management company like True Property Managers is the best way to ensure that you have an easy property management experience. Our team of professionals can manage all aspects of property rentals for you, including marketing and tenant screening while giving you peace of mind that your property will be taken care of in a timely manner with high-quality workmanship. Whether you’re new to property management or have been doing it for years, let us handle the headaches so you can focus on running your business instead. Call one of our property management professionals in Newport Beach, Ca today at 866-957-6677.