Realtors do an excellent job of helping you buy and sell homes, and a great real estate agent may have helped you buy the property you now want to rent out. While Realtors can be a resource for a number of things, you want to make sure they are qualified to manage a property before you hand those duties over. In many cases, it’s better to work with a professional property manager who understands the Roseville rental market and how it differs from the sales market.
Understanding Landlord Tenant Laws
California is a tenant-friendly state, and there are a number of laws that protect tenants and hold landlords accountable to certain standards. Property managers keep up with the changes in these laws and know how to ensure you and your property are in compliance. Realtors may be less familiar with landlord and tenant laws, and this could put you at risk.
Property Management Insurance
Realtors and property managers carry different types of insurance to cover their professional liability. Property managers need an Errors & Omissions policy, or E&O coverage. If something happens to your tenants or your property and the Realtor you’re working with doesn’t have the right insurance, it could cause a lot of problems. Make sure the company you’re working with has adequate and correct insurance coverage.
A trust account is required to hold security deposits and disperse rental income. The Bureau of Real Estate regulates, and occasionally audits, trust accounts, so if you’re going to use a real estate agent as a property manager, you need to make sure their trust accounting is accurate, detailed, and transparent. It also has to be compliant with all laws and regulations.
Real Estate Staffing
Successful property management requires a team of qualified people. You need experts in leasing, marketing, legal issues, accounting, and taxes. A strong administrative team that can keep everything organized and documented is also necessary. If your Realtor doesn’t have the capacity or the staff to meet your needs, it could result in important things getting missed.
Many Realtors are successful at managing homes, but you want to make sure that you’re working with someone who is qualified and experienced. Smart real estate agents will refer their clients to a professional property manager so that everyone can focus on their own areas of expertise. We don’t buy or sell properties; we focus on management.
If you have any questions about Roseville property management, please contact us at Sunburst Properties. We offer professional property management in Roseville, Citrus Heights, Folsom, Rocklin, Granite Bay, Sacramento and the surrounding areas.