A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Rental Property is a Small Business
many reasons why people own rental property, some own rental property to supplement
their income, others own rental property as their primary income, these days
some people cannot sell their homes due to being underwater, but need to move,
so they decide to rent out their property and others have inherited the
investment property. Whatever the reason, all these people have one thing in
They all are
Small business Owners!
of a business is: the activity of making, buying, or selling
goods or providing services in exchange for money.
Yes, owning rental
property is a small business and should be treated like one. Look at it this way;
just like any business owner you have a product, your property. You are the
boss and decide how that product is going to be used. You must make sure your
product is desired by others, just as any business owner needs their product or
service to be desired by others. You need to price your product competitively
for your market, no different than a widget maker needs to price their product to
compete in their market. You have to market your product, just as any other
business does in order to let people know your product exists. You have clients
or customers (your tenant) and you must satisfy them, so they continue to be a
revenue source, just as the widget maker must satisfy their customers. You need
to decide if you are going to manage your property or hire a Property Management
company (such as mine) to manage your property, just as the widget maker needs
to decide if they need a manager or not. And most important you need to make
sure after you do all the due diligence, you make a profit.
Sounds like a
business to me!
In my business of Property Management in Anaheim Ca.I find that
some investment property owners are uncomfortable to consider themselves as
business owners, but the point that I want to make, is that if you are not
treating your property as a business, you run the risk of becoming too personally
involved and not making good decisions.
The big difference that rental property owners
must deal with that most business owners do not, is that people and their
families live in your home and often times it can become very messy. That is
where you need to take a step back and use compassion yet still run your
When it comes to peoples lives you need a special kind of talent in
order to do everything you can to help your tenants, but also make sure you are
not damaging your bottom line.
property owners do run a small business, but it is a business different from
most. It can be very profitable, but things can go south very fast if you allow
yourself to get caught up in the emotion of the situation.
line is, make sure you understand that you have a business, and you need to run
it just like any other business. There is nothing wrong with being a compassionate
business owner, but unless you are wealthy, you need income to make your
A.D. Cantelmo Property Management Specializes in Property
Management in Orange County Ca.