Top HOA Management Issues That Arise From Poor Communication
In Television shows and movies, a common problem amongst characters is poor communication. If you see a couples counselor, he or she will tell you the number one issue in your relationship is the lack of communication. Communication is the bedrock of every successful relationship. The protagonist in the movie lives happily ever after he/she learns how to communicate feelings effectively. Couples can work out almost any problem once they communicate about it.
The same basic principles apply to the management of a property you own. Maintaining clear lines of communication between yourself and the property management company, board members and residents, and contractors is imperative. You cannot expect a relationship to thrive if you do not know how to communicate with one another and subsequently resolve disputes.
The following issues are the top reasons why Homeowners' Association (HOA) board of directors are unable to manage properties due to a lack of effective communication. If these problems seem familiar, then it may be time to rethink your approach.
Lease or Sell: 4 Questions to Ask Yourself Before You Decide What to Do With Your Property
It is an age-old question that confronts many homeowners: Should you lease your property for long-term security and a steady income, or sell it for a quick payout and secure a down payment for your next home? The answer is as complicated and multi-faceted as the question.
Top Factors in Lease Renewal Decisions & How to Increase Retention
Renewing a lease is far cheaper than looking for, vetting and approving a new resident. So with those goals in mind, how do you keep your residents? What factors impact their decisions? How can you address their concerns?
Over 5 Million Baby Boomers Expect to Rent Next Home by 2020
As a property owner, you probably focus your advertising efforts on securing stable residents like families (or college students if your property is near a college campus). However, you may not realize Baby Boomers (people aged 55 and older) want to rent their homes.
Thinking About Changing Property Management Companies? Here's How
As one of the largest property management companies in Southern California, the agents at Property Advantage are often approached by property owners and investors who want to change their property management company in San Diego. Unfortunately, we notice that many people are concerned about the difficulty in transitioning between property management companies.
San Diego Rent Highest in Country: Now is the Time to Lease!
You may be wondering whether you should sell or lease your current home. You may want to consider the following questions:
- Do you want the potential long-term safety and investment of leasing the property or the immediate payout of a sale?
- Do you have the time to manage a leased property or will a sale enable you to engage in other investment pursuits?
In San Diego, it appears these questions may already be answered for you. Reports show that San Diego now has the highest dollar amount of rent in the country. Now is the time to lease.
What You Need to Know About Property Management Before You Take it On
If you've invested in a rental property, you'll find you're going to need to know quite a bit about property management. There are some property owners who decide that hiring a San Diego County property management company is too much of an expense. They perhaps believe doing it themselves won't be difficult--especially if they're only managing a single property--and that taking care of their own management will help to maximize profits. If this is currently your line of thinking, you will want to make sure you understand the following San Diego County property management challenges.
HOA Property Management: What is it and Why Use it
Homeowners Associations, or HOAs, have big challenges on their hands: they have to be on call to maintain the quality and smooth functioning of a community, no matter what challenges it may face. The resources and experience of an HOA board may not always be matched to the task, however — and sometimes, an external perspective can be beneficial. HOA Property Management, offered by San Diego HOA management companies, can provide the resources and experience needed to support an HOA in its work.
The Most Common Mistake DIY Landlords Make
Owning a piece of property that you can now rent to others can be very exciting. You are finally the landowner, not merely the resident. Reaching the point where you can purchase properties where you do not need to live or work is a stepping-stone into a larger world of greater possibilities and financial gains.
Choosing from the Best San Diego Property Management Companies
You have countless reasons to work with a San Diego property management company if you plan on leasing out any of the properties you own. Once you've made the decision to work with a property management company, find one that fits your particular needs.