What is Property Management?

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What is Property Management? 

Many people wonder what Property Management actually is, and possibly why they might need it. Property Management is the process of Screening/Acquiring Tenants, Collecting Rent, Maintaining the Property, and managing the account of the Owner. Now, if you were the owner, and did not have Property Management-you would (and could) do all of this yourself. Many people, however, purchase properties and rent them out to supplement their income/provide their retirement-but also still have their day jobs. The latter scenario is much harder to do without a Property Manager. 

Why do I need Property Management?

There is a very understated reason that I would say you need a Property Manager, and I would draw a similarity between this and Insurance. Insurance is mandatory yes, but when you get into a situation-and even the most careful person can get into a situation-Insurance is a life saver. Your monthly premium is a small price to pay-compared to if you had gotten into that situation without insurance. As a home owner, you may not know everything you need to know-and laws are constantly changing. If you were a home owner with a tenant and there was a situation-your Property Manager is not only your first line of defense, but also has prepared you to handle it well and most times-they do the work of handling it for you! 

If you are going to be serious in your en devours to be an owner of multiple rental housing income, you should also be serious in the help you enlist to make it a successful and profitable venture. 

Location: Brea, CA, USA

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