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Property management in California may be as complex as it gets anywhere
Rent control, eviction moratoriums, seemingly endless propositions and laws, environmental hazards, Covid-19, are on a long list of topics that require the expertise of a good property management company.
Profitability of a property management firm depends on several factors, some of which are beyond the property managers control.
For example, local economic circumstances and local laws are examples of conditions that affect profitability of the management company.
To increase the value of the property management firm, the company should focus on factors such as:
- Manage a portfolio of desirable and profitable properties
- Gain efficiencies through technology
- Insured services offered are profitable to the management company
- Develop clients with good business acumen who make reasonable property maintenance decisions