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Tuesday, July 8, 2014

How to Cut Cost in Property Management



How to Cut Cost in Property Management


Cutting cost in your Temecula CA property management is absolutely doable. First thing to do is to have a mindset that money saving does not mean giving cheap services to tenants. Money saving involves finding ways to give quality service while avoiding unwanted costly hassles in the long run and eventually having a better return on your investment. As landlords, here’s how you can succeed in cost cutting:

Choose the best deal an excellent Temecula CA property manager can offer,


1. Good maintenance is key
More often than not, the largest expenses for landlords of their homes for rent comes from problems that could have been avoided through regular maintenance. These are some of the major maintenance items you can do to save on cost:

- Conduct regular exterminations
- Change filters in air conditioning units regularly
- Check smoke detectors regularly
- Check for leaks and water damages

Sooner or later you will recognize the fact that spending on these maintenance items can save you a great deal of trouble and naturally, cost saving will just follow.

You must not jump into getting the first Temecula CA property management service you find. Take your time looking for available options and carefully examine the deals offered by Temecula CA property managers. Also, decide now if you want everything done for you. Some landlords find it helpful to hire help for marketing their property while others need help finding tenants up to overall management of the rentals.

A good property management company will lay out all services they can offer and would be clear on both their responsibilities and yours. Having Temecula CA property manager requires cost to you but consider future cost saving. For instance, it’s easier to avoid longer periods of vacancy or  bad tenants if you will hire someone who has systems in place to take care of advertising and tenant screening.


3. Invest in good and reasonable insurance
You can never really predict what will happen. No matter how careful and prepared you think you are, your home for rent is not 100 percent safe from accidents and disasters. That said, it would be wise to invest in good insurance that will cover for possible losses. You don’t need to have the most expensive one, but at least scout the market for reasonably priced options.

4. Consider second hand furnitures
If you want to save up on furniture, be sure to consider second hand options. You can search both online and offline for options. You may visit sites like Freecycle which have local groups that provide a venue for people to offer and take stuff for free. Moreover, you can check auctions or flea markets for second hand items which may turn out to be wonderful pieces with a bit of retouching. Do not make buying new items your first priority. If you really want to save costs, consider reusing old items first.

So you see, money saving does not mean being cheap in everything. It helps you in minimizing unnecessary and costly expenses in your Temecula CA property management. As wise landlords, this is something you should constantly consider. After all who doesn’t want a better return of investment, right?

For immediate and reliable assistance in managing your properties for rent or for help in finding the best homes for rent for you in Murrieta CA, call me, Sidney Kutchuck, today at 951-217-6745 or send an email at sidney@realtywrks.com or visit the Realty Works website at realtywrks.com