Let’s face it, today’s economy leaves much to be desired and even more to take advantage of, if you look in the right places. There is an old saying “it takes money to make money.” If you have a little money saved, you can make money in real estate. Yes, I said real estate. But just like any other type of investment, you should have a professional help you. This is where licensed professional property managers are useful. Aside from the obvious such as collecting and depositing monthly rent payments, marketing and advertising your property, and finding and managing tenants, property managers can help maximize the rate of return on your investment by setting the right rates and reduce costs by managing vendor relationships. But even before doing all that, they can tell you what the expected rate of return on a particular property may be. While real estate agents can tell you the price of comparable properties in an area, property managers can tell you how much you can expect to earn on your investment. For example they can tell you a home may rent for $900 in Modesto, but a similar property in Turlock can be expected to rent for $1000. Additionally, property managers can ensure property compliance with applicable housing regulations and laws. They can also enable investors to invest in geographically distant properties where investors wouldn’t be able to manage the day to day operations of their real estate portfolio. Hence it is imperative to select the right local property manager. A qualified property manager must be a designated real estate broker or a property management company must have a licensed broker as an officer. To ensure your property manager is properly licensed visit dre.ca.gov and click on the License Status Check link. If you are looking for a professional property management company that can bridge your needs, wants and opportunities, give New Bridge Management a call at 209-668-6700 or visit our website at www.newbridgemanagement.com .
