July 29, 2024, by Christie Slatcher
When our team works with rental property investors, we’re all about maximizing opportunities. Our job is to help you earn more on your investment. A lot of the investors we work with understand our expertise when it comes to leasing, managing, and maintaining the properties they already own.
We want to make sure you understand that in addition to our property management expertise, we can also help you in the real estate market!
If you are wondering whether you should hire a real estate agent or a property manager when it comes to managing your investment properties, we can put your mind at ease: you don’t have to choose one or the other. In fact, you’ll serve your portfolio better if you find a local property management company that also provides real estate services, like Jamison Management Company.
You don’t have to hire a separate real estate agent and a property manager. That’s a waste of time and money and it can also create confusion and chaos – which is never a benefit when we’re talking about financially valuable investments. You’ll get so much more out of your investment if you work with a company that can handle the purchasing, sale, and management of your investment.
Property managers with real estate expertise can provide a full-service investment plan that covers the entire lifecycle of your investment – from purchase to sale. It allows you to work with the same partners at every step of the process. Real estate agents on their own will help you buy and sell property but don’t always understand the rental market and complexities or costs of managing the property. Property managers can help with getting good renters in, improving your asset, and return on investment. Why not work with a team that does both? It’s more efficient, more rewarding, and all the accountability lands in the same place.
At Jamison Management Company, we make this a part of our business model, and we feel strongly about this. Here’s why it’s a good idea for you to collaborate and enjoy this type of partnership.
Diverse Expertise in the Local Los Angeles Market
Why do you hire a real estate agent when you’re buying or selling a property? The answer is pretty simple. You hire a real estate agent because you’re looking for:
- Experience and insight into the industry as well as the local sales market.
- An active understanding of your needs and wants. You can talk about the type of property you’re seeking, and your agent will identify opportunities and set up showings.
- Full service. You want an agent who can take care of every detail involved in seeing the property, studying the neighborhood, and negotiating the purchase price.
- Help in navigating escrow, closing, and other transactional necessities.
- They can also point out potential deferred maintenance and risk management issues.
You can rely on your real estate agent during the purchasing process to help you with negotiations and closing the deal. You’ll rely on their local experience in the market and their expertise in working through a real estate sales contract. Real estate agents know where the hottest new properties can be found, and they might have resources that can bring buyers to homes that aren’t even listed yet. This can be a tremendous benefit to you as a real estate investor.
You hire a property manager for almost the same reasons.
While a real estate agent can help you see properties and negotiate the contract and purchase details, a property manager is essential in getting the best deal and recognizing the right investments.
Here’s why you want a property manager present during the purchase of an investment property:
- Property managers understand the local rental market and its most recent renter trends and demands.
- Property managers can help you estimate how much rent you can expect to earn on a particular property.
- You’ll get an idea about how long it will take you to rent the home out so you can budget for vacancy and plan for marketing.
- Property managers can help with project management and tackling deferred maintenance.
- Property managers also understand the complex renter laws and how to navigate them.
- They can also help get your property ready for the rental market.
This information is invaluable to investors before you buy. While a real estate agent can help you determine whether an asking price is fair during a sale and provide you with their estimate of fair market rental rates, they’re estimates are usually not as reliable because their commitment to you ends after the deal closes. However, a Property Manager that also can represent you during a purchase will remain committed to your best interests long after the deal closes, if they manage the property you plan to purchase.
So, why choose just one area of expertise when you can get all of that knowledge in one professional company?
Saving Time and Making Money
The Los Angeles County real estate market remains competitive, even now as prices have potentially peaked. It’s still a competitive market – it always will be. This can be unnerving if you’re trying to buy something. When inventory is low, and prices are high, it lends to an extremely fast-moving market.
You need more than an agent and you need more than a property manager. You need a combination of those areas of expertise.
If you want to invest, you’ll need to move seamlessly through the steps of acquiring an investment property, preparing it for the rental market, and leasing it to good tenants. When you have a consistent team of professionals helping you through the acquisition as well as the rent-ready process, you save yourself a lot of time and money.
When your property management team also helps you identify investment opportunities and negotiate favorable details, you’ll be able to transition seamlessly from one step of the process to the next. You will have a better understanding of the rental home and what it needs even before you even close the deal. Plus, all the necessary work can be planned in advance, and you’ll save money by getting that property on the market faster – with less vacancy loss.
Nothing ends when you close the deal. If you’re working with the right real estate and management partner, this is only the beginning.
One Size Never Fits All: Customized Real Estate and Property Management Plans
Another advantage of collaborating with our licensed team of real estate agents, who also offer property management services, is that our entire team will invest their time to know your property.
There won’t be any kind of learning curve when it comes to your home’s neighborhood, rental value, maintenance needs, and marketing strengths. We’ve been there since you were considering the property and we’ve helped you purchase it. We know what we’re getting before we even list it for you on the rental market.
This leads to a customized management plan that meets the needs of your investment goals and your investment property. No two rental homes are alike. Every property needs a different level of attention and maintenance. When your property manager is already familiar with the home because they helped you through the purchasing process, you’re going to have a better experience.
This style of real estate collaboration also makes sense when you’re ready to sell.
If you have a management company that’s been effectively taking care of your rental property and your tenants for years, why would you want to turn to someone else when you’re ready to sell it? You’re going to get more money and more potential buyers when you’re selling the home through someone who is already familiar with the property and has a relationship with the existing tenants.
Keeping Accountability Close
You can also count on more transparency and accountability when you’re collaborating with a team that provides both real estate expertise and property management support. You and our management team will get to know each other while navigating the purchase process. You’ll have shared your expectations and set some goals together. This leads to more accountability and a drive to do better for you and your portfolio.
You’ll also have an experienced real estate agent looking for ways to grow your portfolio. They’ll know when it’s time to sell, where the market is trending, and how you can leverage your current investment properties to grow your portfolio.
Are you ready to elevate your rental experience? We serve all of the South Bay in Los Angeles County and are local experts of Redondo Beach, Torrance, and Hawthorne. We offer comprehensive real estate and property management services, making the process effortless for you.
Contact us today, Jamison Management Company, at 310-798-9154.