Long-Distance Land Lording: How to Successfully Manage Your Oceanside Investment Property from Afar

There was a time, and it’s not so long ago, when investing in rental properties from outside of your own geographical area was unheard of. People thought it was too risky, too difficult, and likely also to be difficult for your tenants to rent from you.

That’s changed, and it’s changed dramatically. 

Thanks to technology, available data about different markets, and a growth in property management as a professional industry that provides a lot of value to investors, renting out properties from afar these days is easier than ever. You can be a long-distance landlord.

Not that you’ll want to be a hands-on landlord. This is not ideal when your investment property is outside of your city, your state or even your country. If you’re investing in rental homes in Oceanside, CA from somewhere else, a local rental management company familiar with Oceanside will be your best resource and greatest advocate. 

If you’re investing in rental properties from afar, we have several strategies that you’ll want to consider to ensure you remain profitable even when you cannot easily put eyes on your assets.

Why Long-Distance Investing Works 

When done right, long-distance rental property ownership can be just as rewarding as owning local investment properties. Here are a few reasons that investors are quick to acquire properties that are outside of their own area:

• Access to Lucrative Markets. By not limiting yourself to local properties, you can tap into more profitable markets. The rental market in Oceanside is strong and the area is steadily increasing in popularity; there’s a large pool of qualified tenants, rents are high, and property values continue to rise. 

• Diversification. Investing in different geographical areas reduces risk. If the market trends begin to feel less favorable in one market, you still have investment properties in other markets that can carry you until values readjust. 

• Personal Use Potential. For many investors, renting out the property that they'll one day retire in is an excellent way to earn some income now and establish a stable and profitable retirement. Oceanside make a great retirement destination, and when you own a property here, you can also move into the home if the time comes that you decide to relocate.

Challenges of Managing Properties from Afar

While there are clear benefits to the idea of long-distance investing, it’s important to understand the challenges, too, so you can be prepared for those.

 As Oceanside property managers for decades, here’s are the challenges we see of owning a rental property in a different part of the country:

• Lapsing Maintenance and Repairs

It’s never an easy endeavor when there’s emergency maintenance that’s needed or vendors to hire. Handling an unexpected repair across state lines can be especially difficult, which is why local property management is so critical.

• Untimely Tenant Communication

Staying connected with tenants and addressing their needs in a timely manner can be more challenging when you're not nearby. We have plenty of technology to enable communication, but developing a relationship with your tenants, which helps with retention, can be more complex. 

• Unknown Local Laws and Regulations 

Every region has its own set of rental laws, and in California, we are especially strict when it comes to tenant protections. Keeping abreast of these can be tough if you're not living in the area. The laws are changing all the time here, and it’s important to stay up to date.  Otherwise, you could find yourself making expensive legal mistakes. 

Hire a Reputable Oceanside Property Management Company

If you want your out-of-state investment to remain profitable and protected, it’s essential to partner with a reliable and local Oceanside property management company. Smart investors will tell you this can be your best chance at earning more money and accessing more peace of mind. Think of us as your eyes and ears on the ground. We can handle everything from tenant screening to maintenance and rent collection, making your life a lot easier.

Property Managers also have a network of local vendors (and at Onyx Property Management an in-house team), an understanding of local laws and regulations, and insights into the Oceanside rental market. We know the competing properties, the tenants looking for homes, and the general demographic and economic makeup of the region. We know the neighborhoods, and how your property can best be positioned as a desirable place to live. 

Leverage Technology with Out-of-State-Investments

As property managers in Oceanside, CA, we invest in advanced property management software to track payments, schedule maintenance, and communicate with tenants. This automates and improves systems that are consistent and productive, and it also keeps the work we do for you transparent and accountable. 

You’ll want to make sure you’re utilizing our online owner portals. Here, you can track rental payments, review maintenance invoices, and send us messages. We provide detailed and transparent financial statements, too, allowing you to see your income and your expenses for a single property or an entire portfolio. 

Maintaining Regular Communication