Property Management Services
Monterey Bay Property Management provides complete property management of both vacation/corporate rentals and long-term rentals, including single-family homes, condominiums, and small apartment complexes (less than 16 units).
We Rent the Monterey Bay!
Property Management Services
For property owners who need full management, we do it all, from A to Z. For those who prefer to be involved in the management of their own properties but need professional help with some aspects of management, we offer our Tenant Locator Service.
Over 350 properties on the Monterey Peninsula and in Salinas are managed by Monterey Bay Property Management. Our company is dedicated to making property ownership worry-free and rewarding for owners, to making being a resident in the properties we manage a true pleasure, and to having fun working toward these goals. We enjoy the challenges this presents, and we are known throughout the industry for our enthusiasm!
Monterey Bay Property Management was established in 1986 and is the "go-to" company for premier property management services. A large percentage of our current customers have come through the referrals of previous and current satisfied clients.
Monterey Bay Property Management is a member of:
- Monterey Peninsula Association of Realtors®
- California Association of Realtors®
- National Association of Realtors®
- Monterey Bay Chapter of the National Association of Residential Property Managers
- Vacation Rental Managers Association
Our managing broker, Jan Leasure, also has served on the Board of Directors of the Monterey County Hospitality Association and is an expert witness in legal cases related to landlord-tenant issues. Involvement in these organizations and the community as a whole has led to the establishment of Monterey Bay Property Management as the property management leader in the Monterey Bay. Local landlords and tenants look to Monterey Bay Property Management as the model of property management practices. We answer hundreds of landlord-tenant questions for the general public each year.
Our policies and procedures have been emulated by others in the industry, both locally and nationally. We are flattered that others consider us the property management experts, and we work hard to live up to those expectations!
We look forward to bringing our exemplary service to you in the near future.
Why Use a Rental Manager? Can't I Do It Myself?
We occasionally talk to property owners who are considering the tradeoffs between self-management and professional management services. Obviously managers cost money. Do managers earn it? Are they cost effective? Can I do it myself? Here are some of the discussion points we have shared with property owners who are wrestling with this question.
Owners Who Self-Manage Don't Save Money. They earn it, doing some of America's dirtiest work. The challenge is not just finding renters, but fixing things, cleaning the properties, and taking care of less-than-satisfied guests.
Some typical examples of how self-managers spend their time earning the commission they would have paid to a professional manager include:
- Responding promptly to emails by impatient renters who are quick to look elsewhere;
- Answering (on average) ten inquiries for every confirmed rental;
- Negotiating rent with bargain shopping renters;
- Responding to renters who argue that a malfunctioning hot tub justifies a full refund;
- Finding a back up cleaner when the regular cleaner doesn't show up;
- Dealing with lost keys at two o'clock in the morning;
- Getting a prompt response by a furnace repairperson in the middle of winter.
Self-Managers Must Be Prepared to Deal with Unplanned Problems. Are problems rare? Work order statistics commonly reveal as many major problems per home as rentals! Managers are experts in the problems that routinely arise in putting a renter into a home owned by a non-resident. We anticipate and avoid recurring problems through preventive maintenance. We put together networks of service vendors who respond to us faster than they would respond to an individual homeowner because we send them so much business. We can keep backup cleaners on call because we have enough homes to keep them busy. Our cleaners serve as our eyes and ears for homes they don't actually clean, helping us keep properties safe from unruly or unauthorized renters.
Self-Managers Create Liability for Themselves. Many self-managers expose their net worth by failing to inform their insurance companies that they are renting their vacation homes without using a professional manager. Professional property managers minimize a homeowner's liability by using:
- Bonded workers; and
- Workers covered by workers' compensation insurance;
Professional Managers are Set Up to Take Credit Cards. We can take credit cards, assuring more rentals. This is a credit card society where most renters want to either defer payments or earn miles by paying with credit cards. Self-managers can't take credit cards, and PayPal or third-party services are only partial solutions that cost the property owner more than the average property manager pays for those services.
Professional Managers Handle Tax Obligations. No one enjoys paying taxes. So It is not uncommon for self-managers to simply not charge tax to the renters and not pay taxes to the taxing authorities. This may appeal to renters, as it affords them a financial savings, and it is less paperwork for the property owner. But local tax authorities are mobilizing and starting to access property owner's Federal Tax returns to identify property owners who have reported the expenses associated with their rental homes. Professional property managers relieve the homeowner of tax collection, tax reporting and, of course, interest, penalties and criminal penalties.
Refunds-Who Gets One? Professional managers also earn our keep by relieving homeowners of the infrequent but inevitable nightmares where heat or air systems break and the renter won't remain in the home, or where weather prevents renters from getting to the home and they want their money back. Professional managers write contracts that make it clear to the renters when a refund is in order and when they should not expect one. The manager will also field the requests and inevitable arguments, so that the property owner does not have to be bothered.
Self-Managers Must have a Phone and Computer Readily Accessible. Most important to successful rental is getting the property rented ("Getting the head in the beds"). Websites designed for owner-operators make it easy for property owners to market their own properties. But those owners must be willing to make themselves available by phone and have computer access. Aggressive owner rental websites can get a property rented as easily as a professional manager. But most self-managers lack the time or energy to respond promptly to the many non-renting inquiries. And in the case of vacation rental properties, there is the added challenge of maintaining availability calendars . . .
Renters Who Go Straight to the Property Owner Expect to Pay Less. Websites that feature listings by owner attract bargain shoppers. Renters assume that a property owner who is not paying for professional management can give the renter a discount over market rates. Professional managers have a large pool of renters who are more interested in getting the home they want than in getting a bargain. Renters who are shopping rent-by-owner websites often send multiple email requests, soliciting discounts, to see who will give them the best price. Professional managers monitor the rental market to determine when and if we need to give discounts We have a good sense of when to discount and by how much.
To summarize, property management is not a stress-free job. It is not fun for those who do not have the systems in place to make it work smoothly. Self-management can work for a homeowner who is both motivated and willing to do a lot of work. Some who self-manage know what they are getting into. Others don't yet appreciate how much stress is involved. We are equipped to do the heavy work for homeowners. We make rental home ownership a more pleasant experience.
Information regarding rental rates is based on our experience in the business, and the material herein is original material, written by Jan Leasure. We are sorry to note that our written material has been plagiarized by other local managers. Thus we are compelled to state that all material on this website, as well as anything you may receive from Monterey Bay Property Management is original.