What Should You Replace in A Rental Property After Purchasing It?

Are you planning on buying a new rental property in San Diego, Las Vegas or Phoenix? If so, like many owners you most likely are eager to get that property rented quickly right? This is totally understandable but, there are things that should be replaced in your new rental property if you want to ensure that you won’t have any problems with that property in the future.

Replace the Locks

Always replace the locks after buying a new rental property regardless if the former owner claims they were changed recently or not because you just don’t know how many people had access to that property in the past and may have created their own key.

If the locks are in good condition you can save them and use them again in the future changing the locks on the next property that you buy.

Change the Toilets

Another important thing to change after buying a new rental property is the toilets because a leaky toilet can easily cause unseen damage to your rental property and thousands of dollars in repair costs so it’s best to replace them now so that you can have confidence that there won’t be any leaks going forward.

 

Get Rid of Old Outlets

Regardless of the age of the home, you should always get rid of old outlets because those outlets can potentially pose a fire hazard and it’s better to replace them now before your new tenants move in.

Swap Out Those Old Light Bulbs

Last of all, but most important, if your rental property has light fixtures you shouldn’t think twice about changing those light bulbs. Getting rid of those bulbs will save you the hassle of having to get called from your tenants whenever they need a light bulb changed unless you’ve instructed them to change the light bulbs themselves.

Need Property Management? Contact Us Today

At GoldenWest Management we specialize in full-service property management and can save you the time, money and hassle of managing your properties yourself. To learn more about the services we can offer you contact us today at (866) 545-5303 or click here to connect with us online.

How GoldenWest Management Is Different Than the Competition

Are you planning on choosing a property management company to professionally manage your rental properties? If so, there’s nobody better in the San Diego, Phoenix, or Las Vegas area for property management than GoldenWest Management.

If you’re on the fence about choosing GWM versus another property management company, this article will provide you with insight into how our company is different than the competition.

Your Source for Investment Sourcing and Acquisition

In this day and age most, property management companies only manage rental properties. At GWM we offer more services than just management.

Our real estate acquisition team performs all the due diligence needed to acquire properties with the best possible potential. IRA’s and other self-directed pension plans may be invested in our real estate programs while maintaining the tax-deferred status of the IRA.

Once we acquire the right properties for your portfolio, you can count on us to professionally manage them so that your involvement with your portfolio of rental properties will be 100% passive. All you will have to do is focus on is the profit that you receive from your rentals each month.

Full-Service Property Management

After acquiring a new property for your real estate investment portfolio, GoldenWest Management will provide you with full-service property management which includes the following services:

  • Property Marketing – When it comes time to list your property for rent online, GWM will list your property on our website including a wide variety of other rental websites so that it will receive the most interest from prospective tenants possible.
  • Tenant Selection & Placement – After prospective tenants start requesting information about your rental property we will screen and place the most qualified tenants in your rental. This will give you peace of mind in knowing that reliable and responsible tenants will be living in your rental property.
  • Customer Service – Have you received calls from your tenants at night, on weekends, or during holidays in the past? Thankfully, when you have GWM managing your rentals for you, you can count on them calling us for their maintenance requests, problems or customer service issues instead of calling you.
  • Maintenance – Just about every owner dislikes performing maintenance. If you’re one of those people, you can also have confidence that we will perform the very best maintenance on your investment property plus keep it in excellent shape so you don’t have to do anything yourself.
  • Rent Collection – Last of all, but most important is rent collection. We will collect the rent on time from your tenants each month and deposit those payments into your account so you can passively enjoy your profits.

Contact GoldenWest Management

Ready to get started with having GoldenWest Management professionally manage your rental property? Contact us today by calling (866) 545-5303 or click here to connect with us online.

How to Get More Profit from Your Rentals In 2019

nevinvesAre you searching for ways to get more profit from your rental properties in 2019? If so, you’ve come to the right place!

At GoldenWest Management, Inc we specialize in managing rentals in San Diego, Las Vegas, Arizona and we can provide you with proven ways to increase the ROI from your rental properties.

#1 – Increase the Rent

Although this method of increasing the profit from your rentals may be controversial for sure, the reality is that it’s a no brainer to increase the rent especially if you want to keep your property competitive with the fair market rent in your area.

If it’s been a while since you’ve increased the rent at your property, use online tools (or contact GoldenWest Management) to find out what comparable properties in the area are renting for then choose a fair rent increase.

Ideally, your rent increase shouldn’t be more than $50-$100 because rent increases of $200-$250 per month are often difficult for many renters to budget for.

#2 – Accept Pets

Yes, it’s true that many landlords don’t allow pets but, owners who allow pets are able to charge a pet deposit of at least $500 and a monthly pet rent of $50 to $100 per month.

Most pet owners are responsible people who actually train their pets to use litter boxes or potty outside so you should have confidence that allowing your tenant to have a pet is a positive move that may also motivate your tenant to stay with you for years to come.

#3 – Install A Coin Operated Washer / Dryer

Do you own a single-family home or multifamily rental property? If so, consider installing a coin operated washer and dryer because these units are easy to maintain and can easily bring in an additional $100 or more per month from your tenants because everyone has to do their laundry and most tenants would rather do it at home then drive to a laundromat.

Get A Property Management Quote Here

Are you managing your rentals yourself or are not satisfied with your current property management company? Contact GoldenWest Management for a free property management quote by calling us at (866) 545-5303 or click here to connect with us online.