Many San Jose real estate investors have been able to maintain ownership in their investment properties through this difficult time of economic uncertainty. One of the reasons that some residential and commercial property portfolios are still in the black is a direct result of the competency of the property management firm hired to oversee all facets of managing the properties. Experienced owners and investors know the value of property management in San Jose, CA.
The number of property managers in San Jose exceeds the population of some small California towns. Services offered by companies that specialize in property management in San Jose, CA are not all the same. However, the primary focus of the service is dealing with tenants. Competent property managers screen the prospective tenant by obtaining credit and criminal reports, as well as conducting interviews. The level of experience of the property manager will determine their skill in selecting a good tenant who will take care of the property and stay longer. Heavy wear and tear during the lease term adds to the owner?s expenses when painting, replacing carpet and various repairs need to be made upon departure. Regular inspection is necessary to fix problems before they become a major fiasco.
A conscientious property manager should be able to reduce vacancies by knowing how to make the property competitive. They will know how and where to advertise to give the property maximum exposure. Advertising fees will be lower because property management firms tend to advertise in bulk and get reduced fees from the vendor. Managers often suggest certain cosmetic changes that will not only improve the value of the property, but will also attract tenants.
California offers a certification program for property managers that require applicants to take courses in management, and real estate law and regulations. The courses familiarize the individual with current laws on evictions, safety issues, tenant rights and landlord obligations. The California designation for a certified property manager is ?CPM.? A certified property manager can act as a partial shied to the owner in the case of a tenant discrimination action, an accident on the premises and other legal issues concerning the property. Another added advantage is the ability of the property manager to assist with tax issues and provide forms needed to prepare state and federal returns.
Fees for property management in San Jose, CA are competitive and negotiable. Residential property managers generally charge 10 percent of the rental amount. The fee for commercial property is varied. For instance, a shopping center rental is computed by stating a flat fee as well as a percentage of the tenant?s gross monthly receipts.
Property management in San Jose, California is a necessary adjunct to maintain a profit-making real estate venture. Services, expectations and the benefit of hiring a property management team with exceptional credits is a wise choice. A property management team with a proven record of success will add significant value to residential or commercial property in San Jose.
Source: http://www.vladimiroane.com/successful-property-management-in-san-jose-ca/61/
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