Easy Mistakes San Diego Landlords Should Avoid making

San Diego Landlords

By Goldenwest Management

SAN DIEGO, CA. – There’s no denying that owning rental property in San Diego can be an up and down journey and over the years we’ve seen many San Diego Landlords make mistakes that could have been easily avoided including the following mistakes:

Not Following the Local Rental Market

It doesn’t matter if you live in San Diego, or out of the area, San Diego Landlords should be on top of what’s happening with the SD rental market including the latest trends because this is ultimately one of the best ways to keep tenants happy and vacancies low.

Staying on top of what’s happening in the rental market will give you the edge you need as a landlord when it comes to if you should make improvements to your rental properties, raise rents, or offer incentives to existing tenants to get them to renew their leases.

Not Making Your Home Rent Ready

Landlords often have two types of problems when evaluating their property: Either they are emotionally attached to the home and can’t get the right perspective when seeing its faults or; they don’t know how to efficiently spend funds to make their rental ready to show and rent. Fresh paint and a detailed professional cleaning is always a good start. Light fixtures, window treatments, upgrading mirrors, faucets, shower casing, and toilets are the next tier that can give you a big bang for your buck. If you have more room in your budget, focusing on the kitchen and bathrooms can provide a healthy return: Counters, appliances, knobs for your cabinets (or new cabinets) will all be long term investments both for rental and the sale of your property.

Not Screening Tenants Properly

Although every San Diego Landlord will tell you that they do a background check on their tenants, most don’t. Failing to perform a thorough background check on a tenant can hurt a landlord in the long run, especially if the tenant damages the rental property in addition to not paying rent. Avoid problems with tenants by doing a complete background check every time including employment verification, pulling their credit report and income verification. Don’t accept the “song and dance” from a prospect on why their credit score is not great (or why you can’t run their credit)….people are who their background check says they are. It’s the number one predictor of rental payment behavior out there. So if credit score is low, and employment history is checkered, don’t “stretch” for someone who could cost you thousands in lost rent, legal fees, and repair costs.

Not Budgeting For Costs

Most San Diego Landlords will tell you that right now is a great time to own rental property in San Diego since we’re enjoying the highest demand for rentals ever but, in spite of the demand many landlords are still not budgeting for costs including ongoing maintenance, unexpected repairs, or unanticipated vacancies, that is why it’s vital for every SD landlord to budget for these extra costs if they want to continue enjoying long-term, stable cash flow from their rental properties. GWM metrics state that the average home incurs roughly $65-$70 per month in maintenance charges. This doesn’t take into account “capital improvements” such as AC/Heater issues, roof repairs, water heater replacement, and garage door motor or spring replacement. If you haven’t upgraded these items in a while, at least find out how old they are and compare them to the average life expectancy of each.

San Diego Landlords – Get Property Management Here

For more tips for San Diego Landlords, or to speak with us about our property management service in San Diego, contact Goldenwest Management today by calling us at (858) 792-3442 or click here to connect with us online.

Tips for Winterizing Your Las Vegas Rental Property

Las Vegas Rental Property

By Goldenwest Management

LAS VEGAS, NV. – Fall is officially here and even though the days are still warm, the nights are starting to cool down fast, and if you own Las Vegas Rental Property now is a great time for you to winterize your property by following these tips.

#1 – Change the Furnace Filter

Changing the furnace filter at your Las Vegas Rental Property is by far one of the most important things you should do since a dirty air filter will restrict the flow of air from your furnace and this will not only increase your tenant’s energy demand, it will also make your furnace work harder.

To increase the energy efficiency of the furnace at your Las Vegas Rental Property you should consider switching to an electrostatic filter, or permanent filter, because both of these filters are better at trapping pollen from entering a rental property, stopping mold growth, and keeping your tenants from illness during the winter.

Replacing the filter on the furnace at your Las Vegas Rental Property will cost you anywhere from $5 to $30 depending on the type of filter you use. Another great ideas is to call an experienced HVAC professional and spend $50-$75 so they can do a thorough diagnostic of your furnace to make sure that it’s running correctly. In addition to a quick tune up, they usually will replace your air filter at no cost.

#2 – Got Ceiling Fans? Make Sure They Are Switched To Reverse

If your Las Vegas Rental Property has ceiling fans, you should have them cleaned and then switched to reverse. Locate the small switch located on the base of the fan and flip it to the opposite setting. Doing this will circulate air towards the ceiling and then back down to the living space, making the rental warmer and effectively lower your tenant’s energy bills during the winter by 10 percent or more!

#3 – Winterize Your Air Conditioner

Although some people may use their air conditioners during the winter in Las Vegas, most will not use them again until the spring or summer of next year. To ensure that your air conditioner or chillar works great next year you should have it winterized now by draining any water or fluid from the lines so it doesn’t build up and freeze during the winter months.

Winter is also a great time to replace air conditioners too so if you’ve been thinking about replacing the AC at your Las Vegas Rental Property you should replace it within the coming months because not only will it be a tax write off, you can also qualify for tax credits and reimbursements from the Federal Government.

#4 – Check Your Roof and Gutters

Yes, even though we don’t get much rain in Las Vegas during the year, winter is another story, and it’s possible that we may have the occasional downpour, so now is also a good time to winterize the roof on your Las Vegas Rental Property by checking for tile or shingles that need to be replaced. You should also inspect the gutters on your rental home as well and remove any leaves or debris that have built up during the year.

Now is also a great time of year to make sure your tenants renters insurance policies are still active, and you should also confirm that you have adequate insurance covering your Las Vegas rental property too.

Get Property Management for Your Las Vegas Rental Property

For professional property management for your Las Vegas Rental Property contact Goldenwest Management today by calling us at (702) 685-7696 or click here to connect with us online.

5 Tips for Getting Your Home Ready for Halloween

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By Goldenwest Management

Halloween is right around the corner and besides going trick-or-treating yourself you may be looking forward to welcoming neighbors to your home who are trick-or-treating in your neighborhood.

In this article, we will provide you with 4 tips you can use for preparing your home ready for Halloween.

Tip #1 – Get Your Home Ready

Since Halloween is just a few days away you should start preparing for the big day right now by cleaning up your yard and removing debris from walkways because you don’t want anything left on the ground that could potentially be a trip and fall hazard for trick-or-treaters.

When decorating your Home for Halloween it’s best to create a clear pathway to your front door so you can make it as easy as possible for parents and children to collect candy.

To keep people out of your yard and away from Halloween decorations, you may want to use caution tape just so trick-or-treaters will respect your boundaries and not trample over your landscaping or cause wear and tear to the Halloween decorations that you have in your front yard.

Tip #2 – Think Differently About Halloween Treats

Yes, you can still give away candy at Halloween, but instead of offering all candy you should think about the ages of children in your neighborhood and consider giving away things like small boxes of raisins, toothbrushes, stickers, or boxes of crayons for little children. Thankfully preparing for Halloween can be budget friendly if you buy the candy and supplies that you need at your local Dollar Store.

Tip #3 – Have a Plan for Your Pets

If you have dogs or cats at your home it’s important to have a plan in place for your pets because Halloween is one of the most common times of the year when pets run away or get lost. It may be best to consider putting them in one of the bedrooms in your home, or in the garage because barking dogs might scare children as they approach your property.

Tip #4 – Final Preparations for Halloween

Last of all once the big day approaches and you are ready to celebrate Halloween at your home you should take extra steps to show trick-or-treaters that you are giving out candy like leaving your porch light on, and your door ajar, just so they know that your home if they are walking or driving in your neighborhood.

Tip #5 – Don’t Forget to Mind the HOA or Community Rules

Many communities have CCR’s or Rules & Regulations that dictate the type of props you can utilize as well as “how and when” you should put up and take down decorations. If you don’t have a copy of these documents, be sure to contact your Landlord or reach out to the HOA. Often times community associations will tell give you time frames for decorations including rules on how early you can put them up around your home and then how long until you have to take them down. Be careful as there may be regulations asking neighbors to not have decorations that make noise after 10pm or to turn off or dim lights that may cause issues for vehicle drivers.

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To learn more about Goldenwest Management and the property management services we can offer you contact us today by calling (866) 545-5303 or click here to connect with us online.

House Hunting for the Summer

 

 

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What Is Considered “Normal Wear and Tear” in Las Vegas Rental Property?

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By Goldenwest Management

LAS VEGAS, NV. – If you’ve owned Las Vegas rental property for any length of time you know that the security deposit return can often be a headache. Some property owners will do everything they can to keep as much of the security deposit as possible citing “wear and tear” but, what exactly is “normal” wear and tear?

In this article, we will break down wear and tear so you will know how to address this issue with your tenant after they have moved out of your Las Vegas Rental Property.
Defining Wear And Tear

Thanks to uslegal.com we know that normal wear and tear can be defined as deterioration that’s unavoidable and has come from normal use in a rental property.

Nevada Landlord Tenant law (NRS 118A.110) 

NRS 118A.100 “Landlord” defined. … NRS 118A.110 “Normal wear” defined. “Normal wear” means that deterioration which occurs without negligence, carelessness or abuse of the premises, equipment or chattels by the tenant, a member of the tenant’s household or other person on the premises with the tenant’s consent.

When thinking about normal wear and tear some examples might include paint that is has chipped away from the walls, carpeting that needs cleaning or normal holes in the walls from tenants hanging pictures, shelves etc.

Nail holes (not load bearing screws); minor scrapes and scratches; minor chips in tile or wood; minor fraying or track patterns in a carpet.

Normal Wear And Tear vs. Abnormal Wear And Tear

Normal wear and tear, or unavoidable deterioration, is to be expected, especially when you consider that an average tenant will be renting from you for an average of 12 months.
Each state has a “calculator” to cover what percentage of damage for things such as painting and flooring a Tenant would be responsible after living at a property for a certain period of time (obviously the longer you live there, the less percentage you could feasibly be responsible). In addition contratary to popular belief, you can’t paint your whole house or change all your carpets (I know they won’t match perfectly) based off damage to a different section/area in the home.

Abnormal wear and tear can be anything from an obvious hole that your tenant kicked in the wall, broken windows, broken fixtures, oil stains on the carpets, cigarette burns, or broken window coverings.

Work With Your Tenant, Not Against Them

It’s obvious to clearly define what normal wear and tear are and if you’re serious about maintaining a great relationship with your tenant from start to finish you should take pictures of the rental property before they move in and afterwards so they are aware of the impact that they’ve left on your Las Vegas Rental Property.

What matters is proper documentation – We can’t work things out as landlord and tenants if we don’t have a solid foundation for what the condition of the property was like at the time of move-in. Landlord – when was the last time the home was painted? Flooring was changed? Did both Tenant and landlord take photos or at least fill out a MIWT form at the beginning of lease? Understanding the definition of “normal wear and tear” and then applying this to a Move-out inspection that has already documented a significant (or not) change to the home from move-in is what is necessary for both parties to reach common ground.

Get Property Management for Your Las Vegas Rental Property

For professional property management for your Las Vegas Rental Property contact Goldenwest Management today by calling us at (702) 685-7696 or click here to connect with us online.