Should A Landlord Accept Pets at Their Rental Property?

By GoldenWest Management

Although some landlords may have a no pet policy, the reality is that it’s a smart idea for landlords to accept pets at their rental properties.

Since we constantly hear about all of the problems animals cause for landlords, you may not be as familiar with the benefits of allowing your tenants to have pets. This article will provide you with several reasons why you should consider accepting pets and the long-term benefits they will offer you.

Expose Your Rental to A Wider Tenant pool

Thanks to recent statistics from apartments.com we know that 75% of renters in the United States have said that they have a pet, and roughly 60% of those renters have struggled to find a rental property that allows pets.

Every landlord should consider accepting pets at their rental property because doing so will widen their tenant pool and make it possible for them to expose their rental to more prospects who are searching for pet-friendly rental properties.

Increase Your Renewals

The vacancy rate is decreasing in cities like San Diego, Phoenix, and Las Vegas. This has made it harder than ever before for some renters to find rental properties and most tenants who have pets will be inclined to renew their leases rather than look elsewhere because they won’t want to go through the hassle of finding another pet-friendly rental again.

Increase Your Annual Income

Since most pet owners are committed to their pets it’s possible that you can also increase your annual income by renting to them when you charge a pet deposit and monthly pet rent of $20 per month which can easily add up to $240 per year.

Protect Your Rental Property

Last of all, but most important, renting to people who have pets will also help you to protect your rental property because you will know up front what type of pet is living in the home, compared to finding out later that the tenant had a pet after they moved out.

Best of all, if your tenant’s pet causes damages to the rental property, you will be able to use their pet deposit to cover the cost of repairs.

Get Property Management Here

For professional property management contact GoldenWest Management at (866) 545-5303 or click here to connect with us online.

Should a landlord do repairs at the rental property?

By GoldenWest Management, Inc

As a longtime property management company who manages over 1,000 rental properties in three states we’ve been asked many property management questions over the years and one of those top questions is “should a landlord do repairs at the rental property?”. The answer to this question is always no.

Landlords in most states (including California) are required to make sure that a rental property can be classified as being in “habitable condition” before the tenant moves in but the reality is that a landlord should not attempt to perform maintenance at the rental property themselves.

Why Landlords Should Not Make Repairs Themselves

Even though most landlords want to offer their tenants a habitable rental property the reality is that it’s not a good idea for the landlord to perform maintenance themselves because of the following reasons:

  • Most landlords are inexperienced in State / Local contracting laws so it’s best to let a property management company handle repairs to ensure that they are done up to code.
  • Hiring a property management company to make the repairs at the rental property takes the landlord out of the picture and ensure that repairs or maintenance are completed by a professional.
  • Outsourcing repairs and maintenance to a property management company ensures a high-level of service for the tenant. This has proven to increase lease renewals because tenants like to have their needs cared for on time by professionals.
  • Choosing a property management company to handle repairs and maintenance will ensure that landlord-tenant laws are followed and a notice to enter is posted on the property before the maintenance or repair person enters the property.

Get Property Management Here

For professional property management in San Diego, Phoenix and Las Vegas contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.

Long Term Rentals Vs. Short Term Rental – What Are the Differences?

By GoldenWest Management

SAN DIEGO, CA – During our recent interview with Real Talk San Diego we sat down with the Lands Concierge team to talk about long-term vs. short-term rentals and the differences between both types of opportunities for owners/investors.

In this blog post, we will break down the differences between these two types of rental opportunities and provide you with the information you need to know if you plan on turning one of your homes into a rental property.

Long Term Rentals

At GoldenWest Management, Inc we specialize in long-term rentals and currently manage over 1,000 properties in three different states.

A long-term rental is a property that will typically be rented for up to one year at a time by A Rated tenant that we screen and place for our tenants.

To qualify for a long-term rental, a tenant must go through our qualification process which includes a credit check, background check, and verification of their income.

We recommend long-term rentals to any owner who is interested in renting their property because a long-term rental offers the following benefits including:

  • Stable cash flow.
  • The long-term renter will pay all monthly utility bills for the rental.
  • Your rental property will not have to be furnished because most tenants will bring their furniture with them.

Short Term Rentals

Over the last 4 years, we’ve seen many rentals across the country, especially in the San Diego area, turn into short-term rentals to capitalize on the demand created by companies like Airbnb.

Although short-term rentals can be an excellent source of cash flow, especially during events in San Diego like Comic Con, they do have several requirements that many owners don’t often think about including:

  • The short-term rental must be furnished and have hotel style or concierge amenities which would be attractive to renters.
  • Owners of short-term rentals should be willing to rent their homes for up to 3 months at a time.
  • All valuables should be removed from the short-term rental before the property is rented out.
  • Some HOA’s don’t allow short-term

Many communities are opposing short-term rentals because they feel that the quality of tenant who rents a short-term rental affects home values and the stability of the neighborhood where the rental is located.

It’s best to research the neighborhood where the property is located before investing there to find out if there’s been local opposition or new measures put in place which will prevent short-term rentals there.

Which Option Is Better?

As a homeowner/investor we know that every situation is different, this means that even though a short-term rental may have worked for your friend or business associate in the past, depending on your situation, it may not work for you.

If you’re not sure about the option you should choose for your rental property contact us today for a free consultation at (866) 545-5303 or connect with us through our website.