The changing role of the Property Manager today requires more and more knowledge of ever-changing local city ordinances, state laws, and federal rules. 2020 will bring a new set of laws effecting rental property in California.
Since each city has its own local ordinances, it’s hard to keep up with which city has what ordinance and how it applies to property owners. There’s no registry for property owners to receive all the information that they need on changes to laws. Often there will be a hybrid of local and state ordinances that owners need to comply with.
Many prospective real estate investors have a hard time taking the first step when it comes to investing, typically they don’t have confidence in Property Managers and they don’t have the time to manage property themselves.
We founded Lord Property Management as a management system to measure performance and provide owners with useful data. We believe in creating systems and tracking everything we do. Keeping up with all the different changing legislation is critical in today’s environment.
At the end of the day, no matter how much data or technology you apply to the business, this is a people business. Building a great team and having high-quality people is a huge part of what we do. Providing hands on quality asset management is our priority.
We believe in real estate as an asset class. To me, it’s the best, most attractive asset class there is to invest in.