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CENTRAL COUNTY HOMES | MARCH
Pitfalls of Property Mangement Protecting your Investment BY JOE STOKLEY We’ve all heard that real estate is the best investment you can make, especially here in California. But let’s say you need to move out of state for a job change or you’ve inherited an extra property. Is selling the house your only option? Maybe you’ve toyed with the idea of holding on to a property and renting it out to make a profit. The question then becomes, are you ready to become a landlord? And, perhaps more importantly, should you hire a property management company? Many property owners ask why they need a property management company at all. They imagine it’s easy enough to take care of everything on their own. Some landlords are able to successfully manage their own properties, but they quickly realize it requires specialized knowledge and a great deal of time. There are several good reasons to use a professional property manager, and you’ll see those benefits with your home almost immediately. Legal Protection The first and possibly most important reason is legal implications. The laws pertaining to property management, renters’ rights, fair housing, and discrimination are complex and constantly changing. Property managers are able to stay up to date on the legal requirements of renting out property. They take classes, attend conferences, and consult with real estate attorneys, brokers, and others who are experts in the field. Unless you have
time to become a legal expert, a professional property manager can really help you. Financial Protection Property managers also protect your financial interests. There is a lot more to managing a property than buying or keeping a house, getting a tenant moved in, and collecting the rent. You have to be prepared to act immediately when your renter isn’t paying on time. There is a specific procedure to follow when you have to use the court system to collect rent you are owed, and if the tenant really falls behind, the eviction process may be inevitable. A property manager will stay on top of that to ensure you get the rent you are due. Property Protection Handling maintenance issues is another benefit to using a property manager. If you are thinking about doing it yourself, you have to be prepared for phone calls and emergencies in in the middle of the night, over weekends, and on holidays. You have to be quick and responsive; don’t let squeaky doors and leaky faucets sit. A property manager is equipped to respond immediately, which shows the tenant that you care about the property and about their safety and comfort. Psychologically, they will be willing to take better care of the property and pay rent on time if they know you are holding up your end of the deal. Joe & Sheila Stokley are the owners of Stokley Properties, located in Pleasant Hill. Reach them at 925.658.1415, stokleyproperties.net.
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PROFESSIONAL PROPERTY MANAGEMENT SERVICES
Hambletonian,W.C. Rented in 6 Days
Over 20 years of successful real estate experience.
• 95% Retention Rate
• Thorough Tenant Screening and Placement
• Available 24/7 for Maintenance Emergencies
• 98% of Renters Pay on Time
• 18 Days Average on the Market
• Monthly and Year End Statements
• Online Rent Pay 24/7
• NARPM Member
Crestview, Martinez Rented in 8 Days
“I ONLY buy investment property where Stokley Properties can manage them for me! The team at Stokley Properties has always taken great care of me, my investments and my tenants. I am spoiled rotten!” - Katey D., Walnut Creek
925.658.1415 ext. 3 • stokleyproperties.net • CalBRE #01862445
Cape Cod, Concord Rented in 11 Days