Rentals are fast becoming the largest part of the housing markets. Demographics are showing that people are less likely to buy and more likely to rent, while also showing that affordable housing is becoming less available. In California, the median price of a home is over $500,000 while in the more affordable Bakersfield market, the housing price is much more affordable at around $220,000. Even then a majority of people are moving to renting.
Property management is a large part of the rental economy because it can definitely help grow your portfolio and with a professional property management company, you can even increase your ROI versus self-management.
In Bakersfield, there are a lot of investors that will manage their own properties, and that is a great strategy if you have the time and money, however, with a Property Management Company the fee can be nominal. Right now, we are charging only if rental income is collected, and we will waive our fees if no rental income is collected. On top of that, we will manage all repairs and even before we start charging our management fees. In Bakersfield, this is a great deal, and can definitely free up some much needed time for family, church, or even just some relaxation.
– Sanjeev (Sunny) Advani
Property Management / Real Estate / Investment