If you’re thinking about buying your first investment property you may be wondering if you have to manage that property yourself and thankfully the answer to this question is no.
Let’s be clear, if the rental property is within driving distance of your home you can manage the rental property yourself but, keep in mind that if you decide to add more rental properties to your portfolio it will be in your best interests to hire a property management company to manage your rental properties for you.
How Does A Property Management Company Work?
A qualified property management company will professionally manage your investment property and they will be responsible for important duties like rent collection, customer service, property maintenance and more.
Your property management company will save you the time, money and hassle of managing your rental properties yourself, including taking calls from tenants in the middle of the night or weekends, so you can enjoy the proceeds from your real estate investment, without having to sacrifice the quality of your life.
How Much Do Property Management Companies Charge?
In Southern California, a typical property management company charges up to 8% of the gross rent so you should be prepared to pay this fee every month and be certain that you can deal with this loss of cash flow from what you will be paying the property management company.
Hiring a property management company is worth it especially if you don’t plan on making a career out of real estate investing and want to own a handful of rental properties that will generate consistent cash flow for your retirement.
We Specialize In Helping Real Estate Investors
At Fred Sed Realty we specialize in helping Real Estate investors find excellent Real Estate investment properties across Southern California and we can even connect you with tenants who will be interested in renting those properties.
To learn more about the services we can offer you contact us today by calling (800) 921-9231 or connect with us online.