Property management companies can play a major role in the success of your rental property investment. Property managers have the expertise, industry knowledge, and professionalism to meet all the demands of your property and that of your tenants too. To offer their expert services, management companies will charge property owners a certain fee.
In this article, North Country Property Group breaks down the fees involved in professional property management as well as the factors that influence them!
Factors That Influence Property Management Cost
It should be noted that the fees charged by property management companies are varied. There are a few factors that are considered, such as:
The property’s size. A larger rental property will have a higher maintenance cost. It might also be a multi-unit property that requires more work to be put in. This larger size and the subsequently increased needs of the property will be reflected in a higher fee
The type of property. There are different types of properties in San Diego, like single-family, multi-family, and vacation properties. Each has their own particular needs when being managed
Condition. Older properties are prone to incur higher maintenance costs than newer properties
Location of the rental property. “Location, location, location” is the mantra that governs real estate. Property managers may charge a higher fee for properties in prime locations due to the expectations to keep the development in stellar condition
North County Property Group’s Fees
There are no two landlords whose goals for investing in real estate are the same. The use of a one-fit-all solution does not cater adequately to the needs of clients. At North County Property Group, we acknowledge that, and we offer different property management packages to meet the diverse needs of property owners in the area.
Our potential clients in San Diego can choose from 2 available packages that have been described in brief below:
Standard Program
With no startup fee (unless there is a tenant in possession of the property), this particular property management option incurs a fee of 8% of the monthly rent. The leasing fee is 25% of one month’s rent and a flat fee of $150 on extensions/renewals. Other fees include a minimum property management fee of $160, a maintenance facilitation fee of $25 per incident, a 20% fee for rent-ready property management (before listing the property), a 10% fee on project management of capital improvements and remediation and a $50 per hour charge for work outside of our services.
Premium Program
This is our best value plan with the widest scope of services covered. We charge 10% of the monthly rent under this package and no startup fee (unless there is a tenant in possession of the property). The leasing fee is 25% of one month’s rent and a flat fee of $150 on extensions/renewals. Other fees include a minimum property management fee of $200, a 20% fee for rent-ready property management (before listing the property), a 10% fee on project management of capital improvements and remediation and a $50 per hour charge for work outside of our services. However, under this plan, we do not charge for maintenance facilitation.
For more information on which program is ideal for you, we recommend that you refer to the pricing details on our website. These will outline each of the different services covered under our 3 packages, as well as those for vacation property management.
In addition, you can reach out to us via phone or email. As an honest and transparent property management company, we are always ready and willing to discuss our services with our clients!
Our Transparency
Every service offered by North County Property Group is hinged on a strong foundation of transparency, accountability, and integrity. When San Diego property owners approach us for management services, our reputable team breaks down every fee that will be due. Before a client appends their signature on anything, they know the exact monthly management fee.
For the 20+ years that we have been operating in the area, North County Property Group has always been upfront and transparent with its clients. You will never be charged a hidden fee. What we have estimated will be what you pay. That’s how we have grown our reputation of being the leading property management company in San Diego!
Our Range of San Diego Property Management Services
To give our clients an idea of the services we offer when hiring us as your property manager, we’ve outlined some of them as follows:
Property Marketing and Advertising
North County Property Group customizes its marketing services for each of its clients to promote your property to your target demographic.
Professional quality photos, narrated virtual video tours, and 3D/360-degree digital tours will be created. This will capture the interest of prospective tenants with such an immersive online viewing experience that highlights the best features of your property.
We’ll also post your rental property on listing sites, social media, and even through the San Diego MLS system!
Tenant Screening and Placement
The key to enjoying your investment in San Diego real estate is having quality tenants in your rental property. A good tenant will pay the rent on time, get along well with other neighbors, maintain the property in a good condition, and follow the responsibilities in the rental agreement.
North County Property Group’s tenant screening process serves as the best way to land a great tenant! Our team guarantees only the best tenants by performing thorough background checks.
Collection of Rent
Though considered a basic responsibility, it’s hard to argue the impact that on-time rent collection has on the viability of real estate investments. With this in mind, North County Property Group ensures that rent is paid on time on the first day of every month. Most of our tenants use our secure Tenant Portal to pay their rent.
In the rare case of any late repayments, you can rely on our experienced team to immediately notify the tenant and resolve the issue.
Property Maintenance and Repairs
North County Property Group carries out regular inspections of every property in our portfolio. Each inspection schedule is customized, taking into account the age of the development, the number of tenants, and the type of amenities on the property.
You can rely on us to have the property in the best condition possible all year long! We only use prequalified and professional contractors to handle all maintenance issues.
Financial Reporting
Every property owner would like to be on top of any new developments concerning their rental property! North County Property Group makes this easier with the use of financial reporting tools. Whether on a monthly or quarterly basis, you can have all the details with regards to rental income, vacancies, maintenance costs, and other payments.
Handling Eviction
Eviction is never an easy topic for any landlord. It also has the potential of going wrong if it’s not handled well. North County Property Group will respectfully handle the eviction process, in the rare instances that these happen. Under our Premium Program, up to $2,500 in legal fees will be covered.
Bottom Line
If you’re looking for top-rated property management services in San Diego, there is no better company to rely on than North County Property Group. Whatever your property management needs are, we have you covered! We’re determined to have you reach your financial goals and will help you every step of the way. Contact us today to learn more about our services!
