Working with a professional Palm Springs property management company is always a good idea for investors at any level. Whether you’re renting out just one home or an entire portfolio, partnering with a management company allows you to avoid expensive mistakes. You can leverage the experience of a property manager and earn more money on your investment.
Professional management is smart.
When you’re an investor who lives outside of the Palm Springs area, it’s not just smart. It’s essential.
Managing your rental property from afar is possible, thanks to technology. But, it’s not advisable.
Here’s why.
Palm Springs Property Management and Local Expertise
A local property management company will be an invaluable resource when you are too far away from your rental property to effectively lease it, manage it, and maintain it.- Leasing from Afar
- Managing from Afar
Communicating from Afar is Facilitated with Property Management Technology
Work with a property management company that’s willing to invest in technology. You need experts who have a reliable and responsive online platform so you can ensure your rent will be deposited electronically and on time. You’ll want to see detailed and accurate financial statements every month, and you’ll want the process of filing your taxes to be as easy as possible. Technology will keep you connected to your investment property and its performance. When you choose a management partner who has made technology a priority, you’ll be able to log onto your own portal to see what’s happening with your property. You can:- Review maintenance requests and follow the completion of the work.
- Take a look at inspection reports and review recommendations for upgrades and updates.
- Follow preventative maintenance schedules.
- View pictures of your rental home.
- See when rent has been paid.
- Check in on documents you may want to review, such as lease agreements and notices.
Maintaining Your Palm Springs Rental Property from Afar
As a landlord living hundreds or even thousands of miles away from your rental property, you’ll have trouble responding to maintenance emergencies in a proactive way. If your tenant notices a leak or calls to report a tree has crashed through a window in the middle of the night, you’ll need local property managers to respond. You’ll want a management team that has excellent vendor relationships and resources when it comes to mitigating the damage and responding to problems. Ideally, the property management you work with will have their own team of vendors in-house. This provides you with more peace of mind. You won’t have to worry whether someone will be available to respond to an emergency. You won’t have to be wary of extra charges or inflated estimates. Most importantly, you’ll know that the repair work is going to be done right the first time. Your property managers should handle routine repairs with the same sense of urgency, and they should always be looking for ways to save you money and keep your property well-maintained. Preventative maintenance is an important way to protect the condition and the value of your property. It should be a priority for your management team when you’re not there to handle it yourself.Keeping up with California Rental Laws
If you’re renting out a home in Palm Springs but not living in California, you may not be keeping up with the rental laws in the state. That can lead to an expensive mistake. You’ll need your management team to help you stay compliant. Some of the laws that are easiest to miss and yet the most important to follow include:- Fair housing laws (California fair housing laws are actually stricter than federal fair housing laws)
- Rent control laws
- Just cause eviction laws
- Section 8 tenants and screening for income standards
- Habitability laws
- Security deposit laws
These are just a few of the reasons you want to hire a qualified Palm Springs property management team when you’re renting out a property from outside of Palm Springs. We’re here to protect you, your investment, and your ROI.
We have experience working with out of state landlords and even investors who live outside of the country. If you have any questions about managing your Palm Springs property, please contact us at Xepco Properties.
