San Francisco. It is one of the largest and most populated cities in America. It tends to be a dream city for those that want to get into the tech industry.
Because of all of that demand, it is one of the most expensive cities to rent an apartment in the United States. The average rent in San Francisco is $2,390 per month for a one-bedroom apartment.
As a landlord, you may feel overwhelmed trying to keep up with all of the demands of an apartment building. Property management companies in San Francisco Bay, CA can be just what you need in that situation.
What can a property management company do for you? What are the biggest benefits of hiring a property manager?
This is your guide.
One of the first benefits of hiring a property management company is that they are more likely to be on top of the rules and regulations in your local ordinance.
For example, in San Francisco, you cannot increase your rent by more than 2.3% in 2022. Last year, that number was 0.7%.
So, in other words, you cannot just charge whatever you want to people that are already renting out your apartments. However, what you can do, is find new tenants for your vacant apartments, and then you can charge them whatever you want.
These are the types of regulations and laws that a property manager can help you with and keep you informed. They can help you make decisions that are best for your apartment building around the rules and regulations, plus keep you out of potential legal trouble.
Another thing that property management companies can do for you is help you find new tenants. As one person, this is not an easy task to do yourself. On top of this, you are losing money every day that the apartment sits vacant.
A property manager can take charge of not only finding tenants but also marketing your apartment to appeal to a new audience. Then, you can get your apartments filled faster and have more time to focus on other things for your apartment building.
Be More Passive
Finally, having a property manager allows you to have a more passive role when it comes to owning an apartment building. You have the option of designating your property manager the responsibilities of checking new tenants into an apartment or handling the day-to-day needs that existing tenants may have.
If you are doing this by yourself, you most likely have to go to the apartment building almost daily and you most likely had to live close to the apartment building.
With a property manager, you can own an apartment in San Francisco but live in New York.
Consider Hiring Property Management Companies in San Francisco Bay, CA
These are just three of the biggest benefits that come with looking into property management companies in San Francisco Bay, CA. You can get protection from legal trouble all from a remote distance from the apartment building.
Do you want to hire a property management company? Message us today to find out how to get started.