Investors and property owners often look for a few specific things when they’re seeking professional property management services. My guest today is Pete Paredero, from Dudum Real Estate Group. We’re talking about what Realtors like him look for when they’re referring clients to a property management company. Pete works with investors and people buying and selling homes all the time. He’s the best person to share the qualities that smart homeowners will want in a great property manager.
Full Service Property Management
My family has been involved with investment properties for a while, and I have owned a handful of my own, so I have experience knowing what a good property manager does and doesn’t do. And I also work with a lot of investors. What I look for and what my clients look for is full service. It has to be a company that can screen tenants and have all the support that’s needed. Basically, we look for a big rolodex of numbers and resources. We need a team of professionals when we hire a property manager, including access to electricians and painters. I know quite a bit about properties, and I could probably do it myself. But, I know I can’t go through the screening process as well as a professional manager can. I don’t want to deal with the phone calls from tenants. Many people who purchase investment property aren’t familiar with property management. There are so many working parts. When things go wrong, which eventually they will, that’s when investors really see the value of professional management.
Time and Expertise
Sometimes, investors will try managing on their own and then they’ll run into trouble, and their first instinct will be to just sell the property. I help them get back on track by suggesting a property manager. It just makes a lot of sense unless you’re retired and you have the time for a demanding job. It’s not automatic. It also requires a level of expertise. Property managers stay up to date on all the laws, which change every year in California. The forms are always updated. It’s not a static business. Like the real estate industry, things are always shifting and changing.
There are a lot of mom and pop property management companies out there. They probably do a fine job, but when you’re choosing a management company, you want to go with a name you’ve heard. You’re looking for a company with a great reputation. Go on Yelp and read reviews.
We are happy to answer any questions you have, so if you’d like to hear more about our property management services, please contact us at Stokley Properties.