Should you hire a property management company in the San Francisco Bay Area or a leasing agent?
Leasing agents can be a matchmaker, tasked with the limited role of filling a vacancy. A property management company is in it for the long haul.
In achieving your goals of protecting your real estate investment and maximizing its potential, it’s important to take self-inventory. Do you want to be hands on and “paddle your own canoe” when it comes to operating your rental business, or are you reluctant to play landlord? Perhaps you are fine with being a landlord so long as you rent to studious, respectful tenants who can afford your beloved rental, but need a little help filtering out the bad eggs so that you can minimize your headache and risk.
Many investment property owners in San Francisco and throughout the Bay Area are in a quandary when deciding whether to lean on a leasing agent to keep your units occupied and ensure a continuous flow of income, or hiring a full-service property management company to handle your business from A-Z, start to finish.
The answer lies in your unique objectives, so Bay Property Group will go over a couple “what ifs.”
Do you self-manage your own rental property, but do not want to handle leasing?
If you are a landlord who wants to manage your property on your own but do not want to make the hard decision of selecting tenants, hiring a leasing agent may make sense. Keep in mind, however, that once tenants have been welcomed into their new surroundings, the leasing agent’s job is complete.
Also, while the leasing agent can put tenants in place, they cannot transition tenants out in the unfortunate event that rent is not paid, or other covenants of the rental agreement is violated. Perfect tenants should not cost you anything, but in an imperfect world, bad tenants can put a serious dent in your bottom line.
This is a difficult conversation to have, but one worth broaching. Since our Broker of Record is also a prominent real estate attorney, Bay Property Group is uniquely positioned to come to the aid of owners when rental relationships become taxed. Although some caveats apply, our “No Fee Legal Guarantee” can potentially save owners a substantial amount of money in non-payment of cases, since attorney Daniel Bornstein is on standby to assist, at no additional cost.
Do you want the continuous service of a property management company in San Francisco or other Bay Area locales?
While collecting money every month may be appealing, but many owners discover being a landlord is not so easy a gig. If you find that operating your rental business is not a cushy job, perhaps it’s time to consider calling upon a property management company so that you can put your rental business on coast. When Murphy’s law sets in, the leasing agent will not handle burst pipes, broken doors, lost keys, or broken boilers, much less at 2 o’clock in the morning.
Clearly, a property management company can add more value in terms of keeping your property running. All while being dialed into real-time accounting statements, industry-leading technology coupled with a human touch and feel.
If you are a hands-on landlord that merely wants help in ushering tenants in, perhaps a leasing agent can fulfill the goal. As a full-service property management company, Bay Property Group can perform this identical goal, and then some.
Our foremost objective is to provide the information you need to make the most enlightened decision to achieve your unique goals. Contact us to see if Bay Property Management can be a pathway to your unique goals as a landlord.