Real Estate Management Tips To Make Your Encinitas Rental Property A Success

Investing in real estate in Encinitas has the potential to be a very profitable decision. With the correct property management team and marketing strategy for your investment and rental property, you can find and retain quality tenants while adding value to your investment. 

However, many people who are new to real estate investing don’t have the real estate industry experience. They also don’t have knowledge necessary to market, manage, and care for their rental property ventures. Luckily, Whole Life Property Management San Diego offers property management services in Encinitas. We will provide you with support and guidance necessary to successfully manage your rental home. Create a passive income from it. 

Costly Rental Property Mistakes To Avoid 

Those who are new to owning a rental property tend to make their rents either way too high or too low. One way to determine if your pricing is satisfactory is to check the rent prices of comparable properties in your neighborhood and online. When setting your rent price you should also take your home’s amenities, location, appliances and recent renovations into account as these increase the value and amount you should charge. The second most costly mistake that people make is not creating a contract and lease for their rental property. A contact protects you and your tenants, and should outline late rent fees, pet policies, legal action, and maintenance. 

Tips To Running A Profitable Rental Property

The property managers at Whole Life Property Management San Diego have outlined the key components to running a successful and profitable investment property in Encinitas. Check out our top management tips below:

Screen your tenants 

Allowing unqualified or bad tenants to rent your investment property can be very costly in the long-run. Minimize tenant turnover by screening tenants for evictions, checking their previous rental history, performing background checks and income verification. Hence, the property managers at Whole Life Property Management San Diego can help you develop an outline of your ideal tenant. We will also find candidates that meet these requirements. 

Perform Routine Maintenance 

Regularly performing maintenance on your property is necessary to prevent it from deteriorating and losing value. It is recommend to inspect your property thoroughly two to three times a year. Hence, it is to ensure that it is in suitable condition and nothing needs to be repaired. Remember to inform your tenant about your maintenance schedule and inspection days before move-in so they can plan accordingly.  

Hire a Property Manager

While you could manage, maintain and market your rental property yourself, it is a wise decision to outsource these tasks to a professional property manager. When you have a property management company on your side, you also know you are adhering to and following all the laws and regulations surrounding rental properties. You can sleep soundly knowing your investment is in the hands of experts. Property managers also take on the day-to-day tasks associated with managing a rental property. So you can sit back and watch your investment grow. 

Top Encinitas Real Estate Management Company

Hiring a real estate management company is the easiest way to ensure your Encinitas rental property is well maintain and occupy by reliable tenants. Hence, the property managers at Whole Life Property Management San Diego take a boutique-style approach to property management. We will become an active partner with our investor clients in taking care of and managing their properties. If you are interested in our all-inclusive property management services, contact our team today at mike@wholelifeinvestments.com. Check out our website for more information!