Safety and Mechanical issues that go forgotten in your San Diego rental property

San Diego Rental Property

It’s 2016 and there’s no denying that owning San Diego Rental Property is still one of the best ways to build wealth but the reality is that it only takes one accident or mechanical failure at your rental property to end everything.

In this post we will share with you some common mechanical safety issues that you should be on the lookout for at your rental property in San Diego.

#1 – Non-Working Smoke Detectors

One of the most common reasons why smoke detectors stop working is because a tenant will forget to change the batteries out each year even when the smoke alarm chirps and warns the tenant that its batteries need to be changed.

Many tenants “unplug” or the smoke detector instead of changing the batteries. Make sure your lease has a smoke detector addendum making the Tenant responsible for upkeep of the detectors as well as liability if they fail to do so.

#2 – Personal Property Stored To Close to the Water Heater

Another major problem you should be on the lookout for when you own San Diego Rental Property is when your tenant stores their personal property too close to the water heater. This is a major problem, especially for “closet water heaters” because it’s a fire hazard that could result in the home going up in flames. This should be pointed out to the Tenant during the Move-in Walk thru, and then verified during any mid-term inspections.

#3 – Dirty Air Filter

The next major problem property management companies and all owners should be on the lookout for in our rental properties is dirty HVAC air filters. This is a big problem because a dirty air filter means that your air conditioning / heating unit will not work efficiently and this will ultimately affect the long term performance of your heating and cooling unit. The coils end up freezing over and not only does this make the unit work harder, it can bring with it a hefty AC repair bill.

Your lease should instruct Tenants to routinely change the filter, and this should be monitored during midterm inspections. More importantly, GoldenWest recommends you be proactive and leave about 6 filters at the property for the Tenants to change…total cost, no more than $10!!!

#4 – Slow Drips in the Ceiling

Sure we don’t see rain very often in the San Diego area but that doesn’t mean it’s not going to rain at all during the year.

Sadly many tenants won’t think about a slow drip if they see that the roof has leaked a little bit after it’s rained but the reality is that the slow drip will affect your rental property because it could lead to moisture build up in your attic and pests in your home.

This can’t be more important…demand that Tenants immediately report any leaks, including discoloration in the drywall or ceilings. Mold, or structural stability can be compromised with prolonged exposure.

Get Property Management for Your San Diego Rental Property

To get property management for your San Diego rental property contact Goldenwest Management today by calling us at (858) 792-3442 or click here to connect with us online.

Las Vegas Property Management Tips

 

2016 is turning out to be another great year for owning rental property in Las Vegas and elsewhere across the United States.

If you are searching for more information on how to manage your rental properties more efficiently this post will offer you several tips you can use streamline your portfolio of income producing rental properties.

Tip #1 – Stay Committed To Learning

The real “secret” to owning Las Vegas rental property doesn’t just come from buying the property and renting it out, you must be committed to lifelong learning by reading books, connecting with other investors and purchasing courses so you can learn from and use to grow your portfolio of rental properties and keep long term tenants.

#2 – Create Your Own Policies, Then Stick with Them

This is by far one of the most difficult things for some owners to do because many owners will create policies for their Las Vegas rental properties then change them and ultimately start managing their rentals on the fly.

For example: you should create firm policies for when rent is due and how you expect to be paid then if a tenant pays late or they try to pay their rent by an unapproved payment method you should stick with your policy and tell them that it your policies apply to all tenants.

#3 – Produce a High Quality Product

It doesn’t matter if your rental property is in Las Vegas or elsewhere in Nevada, you must always produce a high quality rental property (product) because this also means when you offer a great product you can expect high quality tenants as well.

Source – Goldenwest

Get Las Vegas Property Managent

For affordable and effective Las Vegas property management contact Goldenwest Management today by calling us at (702) 685-7696 or click here.

 

Are You Ready For Your San Diego Renters To Renew Their Leases?

San Diego Renters

January and February are traditionally slower month for property owners who have San Diego renters. Most Tenant’s leases don’t end around the holiday, but for those that due, there is a lot of trepidation regarding what to do with regards to renewal.

Sadly some property owners struggle with tenant renewals. But GoldenWest has a few tips on how to make this process, for all times during the year, a lot simpler.

Tip #1 – Offer San Diego Renters Incentives For Renewing

Although some rental property property owners might not want to offer their San Diego Renters incentives for renewing their leases the reality is that you can get more tenants to renew if you offer them incentives like: Carpet Steam Cleaning, Handyman Credit up to $200, or other gifts like Home Depot gift cards. These are win-win because they benefit your property while also saving time and money for the Tenant.

Tip #2 – Explain the Benefits of Lease Renewal to Your San Diego Renters

Regardless if you plan on raising the rent on should always explain the benefits of lease renewal to your tenants in monetary terms. Moving alone can costs as much as $2500 when hiring a professional company. Add in the time and headache (who really likes to pack and repack; turn on and off all utilities, as well as set up the cable and internet…again). And don’t forget the cash flow inconvenience of paying the security deposit on a new place while you wait for up to 21 days for your old security deposit to be returned.

Tip #3 – Make It Easy For Them to Renew Their Lease

Start early and layout the timeline for renewal with your current Tenant. GoldenWest recommends “reminding” the Tenant 60 days out with a written notice that their lease term is ending. If a lease renewal is not executed by the time there is 30 days left, Landlord’s should list the property for rent. That gives you a full 30 days to allow the Tenant to explore their options as well as negotiate any terms. In addition, just because you listed the home doesn’t mean you won’t renew to the Tenant, but it lets the market dictate who will be residing in the property in the future (a new Tenant or your current one).

Tip #4 – Timing the Lease

The rental market is cyclical. Data shows that most people look to move in the warmer months. Landlords tend to procure higher rents and Tenants see an increased inventory on the market to choose from. It may be in both parties best interest to agree to a lease extension. Somewhere between 4-6 months. This provides a better opportunity for both the Landlord and the Tenant to explore their options and lease (or procure new Tenants) versus having to run the same routine all over again the next winter.

Get San Diego Property Management

Do you need help with renewal? Has your property been vacant all Holiday season? Do you want to avoid this problem in the future? For the best leasing and property management techniques, contact your San Diego Property Management professional, Goldenwest Management by CLICKING HERE or calling us at (858) 792-3442.