PROPERTY MANAGEMENT

Team Cordova LA offers turn key PROPERTY MANAGEMENT allowing you to keep your sights on building.

“Let us handle the nitty gritty, so you can handle whats important to you.”

One of the biggest decisions you’ll make as a landlord is whether you should hire a property management company. Many landlords manage properties on their own or with the help of an employee, such as a resident manager. But sometimes landlords need more help, and that’s when a property management company might make sense.


What Does a Property Management Company Do?

Management companies deal directly with prospects and tenants, saving you time and worry over marketing your rentals, collecting rent, handling maintenance and repair issues, responding to tenant complaints, and even pursuing evictions. Plus, a good management company brings its know-how and experience to your property, giving you the peace of mind that comes with knowing your investment is in good hands. Finally, a management company is an independent contractor, so you avoid the hassles of being an employer.

When Should You Hire a Property Management Company?

Although hiring a property management company has many advantages, using one can be expensive. And, even apart from the cost, relying on a property management company is not for everyone. Consider the following factors to determine if hiring a property management company would be a good decision for your business.

  • You have multiple properties or units

The more rental properties you own and the more units they contain, the more you’re likely to benefit from a management company.

  • You don’t live near your rental property

If your rental property is located far from where you live, hiring a property management company can be invaluable in dealing with the many issues that you will not be able to handle from afar.

  • You’re not interested in hands-on management

Many landlords look forward to the challenge of finding good tenants and the rewards of maintaining a safe and attractive property on their own. But if you view rental property ownership strictly as an investment and want little or nothing to do with the day-to-day management of your properties, consider hiring help to manage your property.

  • Your time is limited

Even if you enjoy hands-on management, you may not have much time to devote to your business, especially if landlord-ing isn’t your day job. And if you prefer to spend your time growing your business, including searching for new properties, arranging financing for renovations, or changing your business structure, then a management company may be a good way to spend your money.

  • You can afford the cost

Hiring a property management company is an attractive option if you can afford the fees. When interviewing companies, expect to hear quotes ranging between 5% and 10% of what you collect in rent revenue. If it’s a down market and you’re able to manage things yourself (or with the help of a resident manager or other employees), you may want to keep doing so until the market turns around.

  • You’re suddenly inundated with management tasks

Congratulations! Your business is growing! At some point you may find that you need a substantial amount of help to manage everything properly. At that point, it might make sense to hire a management company.

  • You don’t want to be an employer

If you hire a resident manager or other employees to help with your property, you become an employer. You’ll have to handle payroll and deal with a host of other legal requirements and considerations. But, because a property management company isn’t your employee (it’s an independent contractor), and neither are the people who work for the company, by using one you avoid the hassles of being an employer.

  • Your property is part of an affordable housing program

If you participate in an affordable housing program, things can get complicated. Usually, in these programs the landlord receives financial assistance, which may be in the form of a grant, low-interest loan, or tax credits, in return for agreeing to rent at least part of the property to tenants earning below a certain income level. In order to continue receiving the assistance, the landlord must comply with a complicated set of rules. With so much at stake, it’s often worth hiring a property management company that has expertise and experience with the particular housing program in question.

BUY

Choosing your real estate professional is one of the most important decisions you will make when buying or selling your home.

The Cordova Team LA is just that! We know this area, the people, the culture, and we aim to do you all proud. We are your family, your friends, and your neighbors, we live here too!

SELL

A few small things can make a big difference when selling your home.

Make first impressions count. Without a doubt, a visually appealing house will attract buyers, who can’t help but respond to the look and “feel” of a home. Take time to carefully prepare for showings.

PROPERTY MANAGEMENT

One of the biggest decisions you’ll make as a landlord is whether you should hire a property management company. Many landlords manage properties on their own or with the help of an employee, such as a resident manager. But sometimes landlords need more help, and that’s when a property management company might make sense.

Let CORDOVA TEAM LA help you attain your dreams