Professional property management relieves owners and investors of the responsibilities and work that comes with leasing and maintaining a rental property. When you have a piece of residential real estate, you can either manage it on your own or hire a management company.

If you’ve never worked with Merced property managers before, you may be wondering what’s involved. The scope of services often depends on the company you choose and the unique needs of your investment properties. It also depends on what you’re hoping to achieve.

Here’s a general overview of how property management companies work and what they’re expected to do for you.

Leasing Your Merced Property and Screening Tenants

One of the first things a property management company will do is evaluate your rental home and make recommendations on any work that may need to be done to prepare it for the rental market. These are likely to be simple cosmetic things such as painting, landscaping, and cleaning. Then, your property manager will determine an accurate rental rate based on the local market.

Marketing your rental property is the next step in the leasing process. A management company will often utilize their own website as well as popular online sites where tenants typically go when they’re looking for a new home. Your management company will schedule showings and answer any questions prospective tenants may have about the property.

The tenant screening process is perhaps one of the most important functions of your Merced property management company. They’ll have the resources to verify an applicant’s identity, run nationwide background and eviction checks, and evaluate income, credit history, rental history, and more.

Once a tenant is approved, you can expect a lease to be executed and a move-in inspection conducted to document the condition of your investment. Your property manager will collect a security deposit and other move-in funds, and the tenancy will begin.

Managing Your Merced Rental Property

After a tenant has moved in, your property manager will take care of all the day-to-day operations of your property. They’ll respond to the needs of your tenants and handle things such as:

Rent collection
Notices and correspondence
Lease enforcement
Evictions if necessary
Legal compliance
Accounting and bookkeeping
Property management technology

Legal compliance is one of the most important advantages to working with a professional management company. There are a lot of complex rental laws in California, as well as federal fair housing requirements. It’s easy to make a legal mistake, but property managers protect you from that risk.

Maintaining a Merced Rental Property with Professional Management

A good property management company will provide and supervise a maintenance crew, whether that’s an in-house team or outside vendors and contractors who have screened and approved. You’ll have access to licensed and insured professionals who can respond to emergency maintenance as well as routine repairs.

Most Merced property managers have a 24-hour emergency repair hotline, provide recommendations on renovations that may maximize rental income, prepare preliminary cost estimates for such work, and oversee any renovations or upgrades you decide to complete.

This is just a brief list of what you can expect from your Merced property management company. You should also look for a partner who will help you achieve your real estate investing goals and provide a better rental experience for you and your residents.

If you’d like to hear about what we do for our owners, please contact us at River Drive Properties.

River Drive Properties provides effective and professional property management services in Merced and the surrounding areas including Fresno, Modesto, and Turlock. We have extensive experience with both single-family homes and multifamily properties.