When D.I.Y. Costs More
Are you thinking of hiring a property manager in the Pasadena, Eagle Rock, Glendale area?
Are you already managing your own rental property yourself?
You might already have long term tenants who pay on time and you ask yourself why should I pay someone to take in the rents and send me the money? It’s not worth the fee they charge.
Let me share with you a story of an owner who made a costly do it yourself mistake several years ago and is now stuck. All because he didn’t want to pay a property management fee.
I sat down with this owner recently and asked him to tell me about his property. He shared that he has a long-term tenant who has left an unregistered vehicle in his unit’s parking spot and is using the vehicle as storage.
The owner asked me, “What can I do?”
I asked him, “What does your lease say about use of parking spaces?”
He used a generic form from a stationery store and did not include any language about parking spaces to be used only for licensed vehicles in good working condition. “Can I have the car towed” he asked. “Won’t DMV tow it for me since the registration is expired?”
No I said it’s on private property. Plus another detail—the property is under rent control. If it were not under rent control the tenant could be served with a change in terms but the only terms that can be changed on a rent controlled property without a tenant’s consent is the amount of the rent.
Property Management is not a part time hobby. If this owner had used a competent property manager the lease would be more complete and would have additional language about use of parking areas.
Don’t be penny wise and pound foolish. An experienced property manager is on top of laws and regulations and is well worth the management fee.