If you’re anything like most Sacramento landlords, then you have at least considered the idea of hiring a property manager at one point or another. However, something has been holding you back from pulling the trigger and enlisting the help of a professional. Perhaps it was the perceived cost or perhaps you never knew how much value a property manager can bring to the table. In some cases, it may not actually even make sense for you to hire a professional property manager. But in today’s post, I am sharing seven undeniable reasons my Sacramento landlords are far better off with a professional property manager on their side.
1. Financial Planning
If there is one difficult lesson that most landlords and real estate investors will cite as being their biggest challenge during the Coronavirus pandemic, it is that they were not financially set up to endure the hardships associated with tenants unable to pay rent. When you align yourself with a professional Sacramento property manager like Alpha, you have the added benefit of working with someone that knows how to set up your finances and portfolio to prepare for a crisis like this. They can help you with everything from identifying how much you should put into savings to how to leverage one property into several with careful financial planning.
2. Marketing Expertise
As most Sacramento landlords will tell you, there is a lot more that goes into the successful marketing of a property than meets the eye. Of course you can try to wing it on your own and hope for the best. However, if you really want to extract maximum value, you need to attract all of the highest quality tenants so that you have your pick of the very best litter while having the ability to name your price. A professional local property manager will know exactly where and how to market your property for you to accomplish that goal while covering the costs for you. Talk about a win-win!
3. Access To The Best Local Vendors
One of the most valuable assets in any real estate investor or landlord’s arsenal is a list of trusted professional vendors that they can call on any time that they need to. If you are new to investing in Sacramento real estate you may have yet to assemble that list of people you can really trust to get the job done right and quickly without taking advantage of you. This is one of the primary reasons that many newbies Sacramento real estate investors turn to a professional property manager in the first place. Having the luxury of being able to leverage somebody else’s list of vetted local professionals can be priceless to a landlord.
4. Save Time
Unless you decided to become a landlord as your full-time job, you likely are not interested in spending more time than necessary on your Sacramento properties. Although some properties won’t require an overwhelming amount of your time once they are rented out, there are others that will be a nonstop drain on your free time and energy from day one. Therefore, if you are more interested in collecting passive income from your Sacramento properties you would be wise to hire a property manager to take over all the time-consuming headaches for the minimal cost.
5. Legal Compliance
There is a lot more to being a successful Sacramento landlord and simply buying a property, sticking up “For Rent” signs in the yard, and collecting rent. Every single property that you rent out needs to be completely up to code and legally compliant or you are exposing yourself to extreme liability. If you were anything like most real estate investors, you don’t have the time to constantly research and stay up-to-date on the changing local codes and laws and would much rather leave that in the hands of a professional.
6. Endless Headaches
When the screening process is handled correctly and you have a low-maintenance property that is in tip-top condition, the odds are that you won’t have too many obnoxious calls from tenants. However, even the most thorough screening process can allow for some problem tenants to slip through the cracks and cause an endless stream of headaches for a landlord. This is one of the other primary reasons that most savvy real estate investors hire a property manager; they simply don’t want the hassles of dealing with day-to-day tenant problems.
7. Portfolio Management
Last but not least, portfolio management is another major reason why a property manager can be a game-changer for you. You would not have become a landlord in the first place if you were not seeking to increase your net worth, plan for your retirement, and set yourself up with more financial security. Therefore, why not maximize those efforts by increasing your portfolio from one or two properties to one or two dozen?! The challenge comes in knowing how to leverage your portfolio for continued growth, diversity, and optimization. While not all property managers offer this service, more experienced firms like Alpha Property Management are proud to help their clients this way because when you grow, so do we!
Why Haven’t You Hired A Sacramento Property Manager Yet?
I understand that it can be a bit nerve-racking to hire a property manager to work with you on optimizing your portfolio. In fact, some may compare it to hiring your first employee as a new business owner. However, it can be the first step to a much bigger and more successful future in your real estate investing career than you ever imagined. So the question I have for those of you still running your properties independently is: why haven’t you hired a professional property manager yet? Comment below!