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Real Estate Portfolio Challenges

real estate property management rental rent landlord inspection property investment portfolioA small landlord in San Diego might view his or her portfolio as a DIY project. It is easy to manage one or two rental units. You can do all the repair work, collect the rent, and do a little marketing to keep the space occupied. However, things can get a little more complicated, when the real estate portfolio expands. An ambitious property owner may want to take advantage of opportunities all over the metropolitan area. It can lead to some real challenges that must be met.

Different Locations Might Mean Different Building Codes

A landlord who has a real estate portfolio with properties in several San Diego suburbs will have to comply with the rules and regulations specified by the local government. Unfortunately, this can get confusing and mistakes mayhappen. Various reports may be necessary at given times and the landlord must keep track of the due dates. And, there always is a concern that failure to comply, even though it is an accident, could carry financial penalties.

Collecting Rent Becomes Time-Consuming

Most likely, landlords will not try to go door-to-door in collecting rent. Nevertheless, getting rent by mail can be a hassle. It means that the money arrives haphazardly with some rent on time while other people are a little bit late. This isn’t going to help cash flow and ordinary bills must be paid. A landlord risks having a cash shortage when least expected.

Dealing with a Diverse Population of Tenants

Someone who owns one or two rental units can develop a good relationship with the residents. In fact, it can almost be a first name basis and a landlord knows what to expect from each person. However, having a larger real estate portfolio with multiple rental units will result in all kinds of people occupying the rental space. Landlords may have some difficulty keeping up a close relationship. Furthermore, it can be difficult keeping in mind what problems certain tenants are having, whether it is with rent or following the lease.

Coordinating Any Repair Activity

Even if a landlord works only with a select group of contractors, there still is the problem of coordinating repair work. It is possible several units need work done at the same time and there can be delays. A landlord must be able to check the property periodically to see if there’s any damage. Unfortunately, it might be almost impossible to schedule these inspections.

Managing a large real estate portfolio with multiple rental units is time-consuming and the chance of mistakes happening is large. Therefore, it would be better to deal with a property management company in San Diego who can serve as a third-party. Such a situation will permit a landlord to allow someone else to handle much of the routine work. Alta Vista Properties is one of the best property management companies in San Diego.

We Do Good Work

Alta Vista Properties has worked with landlords in the area for years and we understand how to manage the properties effectively. We use electronic transfer for the collection of rent and our clients get their money at a specific time each month.

At Alta Vista Properties, we keep up to date with the building codes in the metropolitan area and make certain that our landlords are compliant. With us, there is no need to worry about the repair work being done. We work with a group of contractors who will do a professional job on any repair and only bill for work performed. Alta Vista Properties maintains a strong relationship with all tenants and we carefully screen prospective tenants when any vacancy arises.

Please do inquire at any time about our property management services. We can be reached at 858-274-3600 or by email at info@altavistaproperties.net. We look forward to hearing from you and answering your questions.

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Posted by: chelsea on July 10, 2019
Posted in: Uncategorized