Hire a property manager for my apartment building?

If you are the owner of an apartment building you might be considering whether or not it is worth it to have a property management company step in to manage the day-to-day functions of your apartment building. Here are some of the important factors that might influence this decision and help make it easier to determine if it is the right path for you:

Experience

If this is the first apartment building you have invested in it would be to your benefit to learn from the expertise of a property management company. Even if only in the beginning, they can help get you started. This company will assist you with navigating the common pitfalls and unforeseen problems which might arise in running the daily operations. They handle the paperwork and guide you in the process of running a multiple unit building.

If you are well-versed in managing a property with multiple units it might not be as necessary to hire a property management company. Although you might have experience in this area, it is wise to consider investing in a property management team in the short-term as they can help you establish a routine with your new property, as well as a clear direction for the future.

Time versus Size

Garden Style Apartment Building

Recently Remodeled Garden Style Apartment Building

Depending on the size of your apartment building and the amount of time you have to dedicate to this task, a property management company could very well be what you need to be successful. Consider that issues with units or tenants often arise with little to no warning at all hours. The larger your building the less you are able to do on your own. Factor in the other commitments in your life: other investment properties or jobs, family, friends, hobbies, emergencies. Be realistic with your assessment of the amount of time you have to put into completing these tasks.

If you have a smaller building that you are focused on running yourself you might want to skip the property management company. Again, this is particularly true if you have experience running a building with multiple units. It can be a daunting task, so really take the time to weigh whether you are ready to take on all the responsibility.

However, if this is one of many investments and you are already on a tight schedule as it is, bringing a property management company on board will probably be your best bet. Otherwise you will likely find yourself with too many fires to put out. The result will be many unhappy tenants. In this day and age of online reviews, it is imperative to do your best to create happy tenants.

Age and Condition

Another important consideration is the age of the property, as well as its current condition. For newer buildings there is rarely much maintenance involved. Many of the appliances are still under warranty and other repairs are often minor and infrequent.

However, even with a newer building its condition is an important component to consider. A poorly maintained yet fairly new building can become just as costly as an older apartment. In either of these instances a property management company will be your best bet. As any apartment building owner will tell, maintaining the frequent needs of an older building can be a full-time job in itself.

Weighing the Pros and Cons

In the end it is ultimately a decision of how hands on you wish to be with your investment property. It is crucial that you take all of these factors into consideration before deciding if a property management company is right for you. If you need additional information or would like a free market analysis of your building please contact Regioncy Real Estate by clicking here.

About Regioncy Real Estate

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Based in Southern California, Regioncy Real Estate is a full service commercial real estate services firm serving investors, landlords and tenants nationwide.   Regioncy focuses on multi family, office, retail, industrial and residential developments.   Core capabilities of Regioncy include real estate management, analysis, representation, acquisition and disposition.

Reasons For Which A Great Real Estate Agent Is Needed

Not every realtors are created equal. Like almost all industries, there are plenty of fantastic pros, nevertheless once in a while an undesirable apple rubs some sort of customer as well as owner that further damages the reputation of rest of the real estate agents.  In the event you’ve got into undesirable situation previously, don’t allow it to occur again. If you aren’t  comfortable with your agent, immediately stop every piece of work with him. You’ll find many more great agents in the market of this industry — don’t move ahead before you have got that one.  When you will finally find a wonderful realtor, you’ll locate an abundance of good reasons to get grateful for him or her. As working with the highly professional and a trustworthy real estate agent helps in delivering big benefits for both: buyers and sellers.

At Times of Difficulty They are Always With You

Down the middle of a new deal that appears to be providing you with additional heartache in comparison to love? Maybe it’s not really your “deal” you thought to be, or even a thing just doesn’t look appropriate?  But a good estate agent will take up your call even at 10 pm, hear you and will support your decision about it. Selling or buying a house is often a serious economic deal & the decision in relation to it should not be taken by flowing into emotions.  Your adviser must uncover almost every problem and also, in the event if it’s the best selection,  suggest backing out of the deal before you even bring it up. They’ll be on your side, and also trying to develop a long-term relationship — not just make a swift money.

Within The Record Time They Will Help You In Selling Your House

A great list broker doubles as an administrator, designer, along with connection of things speedy along with rapid pertaining to home improvement.  Pondering on selling, however daunted through the thinking behind making your own home,  repairs or simply just deep cleaning? Good real estate professional agents undertaking all the responsibilities along with relieving needless dilemma for the precious time to get saved.  After your approval, the broker can muster way up some sort of workforce including painters, stagers, ground finishers, property planners — and also the list proceeds. At this point, your broker will be the only one to contacted for the fast completion of the work of your home.

They Are Aware Of Your Juggling Work

A genuine real estate transaction could be monotonous. An individual always wants a random signature or perhaps a report notarized. Inspectors and appraisers want to get into the house, and from time to time on the list of functions features a last-minute demand is there which you can’t be ignored.  A superb agent understands that you have an existence beyond your own property transaction. She’ll get to your dwelling even at night or may hook a person within the reception of your respective workplace.  For making your daily life much easier and your transactions smoother, a great realtor is ready with its  services 24/7. And they love doing it for their delighted customers. Moreover, this thing builds their reputation as well.

Helpful Data About Your Home Is Presented In Front Of You Even After Long Time

You might have experienced and found that most of the real estate agents after completing the deals move forward. But a professional healthy & good agents are aware of their duties and also fulfills them.  People are always interested in knowing the current value of the property in the market and to what extend their investment has proved to be the best. In this matter, real estate agents can personally maintain a report of complete analysis which can provide complete information to the client regarding the market value of their property. By this, owners remain informed about their property.  It’s a fact that you are well informed about all these things, but an active real estate agent by keeping you in the loop is the best thing.

They Have A Market And Remain Well Informed About The Current Market

Good deals can be cracked if an agent has good market and remains informed. Also, well connected links with the other agents and other deal makers that can help in grabbing the big time opportunities.  A genuine and a serious agent will keep of your interests in mind and will provide you ample of opportunities by teaming up with its staff. These efforts will surely help in find a dream house for you.  If you find such an agent in your life, make sure to be thankful to him. Though, you haven’t found such a real estate agent yet, contact us for the full fledged services by visiting http://www.regioncy.com/

 

Triple Net Lease Market Is Nearing Perfection

While triple net lease (NNN) properties still continue to break prerecession prices, investors’ appetites for NNN properties continue drive up prices and compress cap rates to new historical all-time lows.

Recently Closed Dollar Tree at 5.25% Cap Rate

Recently Closed Dollar Tree at 5.25% Cap Rate

Business Is Good

With cap rates being compressed by higher demand than the market can supply, net leased properties such as JPMorgan Chase, Dollar Tree, McDonald’s, Walgreens and many alike are experiencing new all-time low cap rates in the low 4% or 5% range, according to Nathan Diones, Broker and president of Regioncy Real Estate, a commercial real estate brokerage, based in Yucaipa, CA.

With the looming threat of interest rates on the rise, investors have been gobbling up all types of net leased products consisting of retail, office and industrial.   If the Feds decide to raise interest rates prior to the end of 2015, we could see a pullback on sales until the market adjusts to the new rates.

Regioncy offers both buyer & seller representation for Net Leased Property (NNN).

Commercial Real Estate Owners Using Recycled Water Delivery Services to Increase NOI

Commercial Real Estate Owners Using Recycled Water

As the drought within California continues, the landscape is changing back to what it once was without lush palm trees and over watered grass.  Savvy commercial real estate owners are now finding ways to cut their own water use and increase their net operating income (NOI).  In addition to the many different types of water saving devices for both residential and commercial property owners, many investors are shutting off the sprinklers and turning to a water delivery service, more so a recycled water delivery service!  Such recycled water delivery services  are becoming more popular within California.  The cost effective delivery services can be set up on a regularly scheduled service and merely show up to water each property as needed.   The recycled water is free within certain areas so property owners simply pay for a service fee.  These service fees to each recycled water delivery company are lower than the cost of keeping the sprinklers on every other day and when coupled with the fact that less water promotes less vegetative growth, the costs savings are even greater due to the fact that the landscape doesn’t need the attention it normally would.   The benefits of using recycled water on real estate investments or even on our own homes is rapidly growing and should continue to do so even when California’s snow pack returns to normal levels. Commercial Real Estate Recycled Water

Commercial Real Estate Recycled Water Uses

Commercial Real Estate Recycled Water

Commercial Real Estate using a Recycled Water Delivery Service.

 

Regioncy Real EstateBased in Yucaipa, CA, Regioncy Real Estate provides commercial and residential property owners with advisory and management services. Regioncy focuses on multi family, retail, office, industrial, asset management and a broad menu of residential services.  Our mission is to help our clients build, grow and preserve long term wealth by providing superior advice, strong representation, professional market knowledge and expert analysis.  Contact us here.

Rents rise again in Southern California, but not so fast this time

The average rent paid for housing in Los Angeles County in the first quarter climbed 2.4% compared to last year, to $1,520 a month, according to new figures out Thursday from real estate data firm Reis Inc. That’s roughly in line with inflation. Orange County is up 3.5%, to $1,660.

Both counties rank among the costliest rental markets in the country — though well below the $2,277 average rent paid in San Francisco and $3,233 in New York — and also among the tightest.

Redlands Four Unit Building