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How to Know When You’ve Hired A “Subpar” Property Manager

Did you recently hire a property manager to manage your portfolio of rental properties but now you’re starting to feel like it’s possible they may be a subpar property manager? If so, you’ve come to the right place!

In this article, we will provide you with a list of clues to follow that will help you to know if you’ve indeed hired a subpar property manager or not.

They Don’t Communicate with You

The first clue that you hired a subpar property manager is if they do not answer your attempts at communication with them.

Communication in today’s world is easy; there are so many ways to communicate with people so it’s impossible for a property management company to not have a multitude of communication options available at their fingertips for their renters or owner clients to reach them.

If your property manager is not communicating with you via phone, text, email, fax, or any of the multitude of other communication options available online, you should rethink your choice of a property manager because they may cost you time and money in the months to come.

Your Property Has Been Vacant for More Than 30 Days at A Time

Another clue that you’ve hired a subpar property manager is if your rental property has sat vacant for more than 30 days at a time. If this occurs, it’s definitely a good sign that your property manager is not doing their best work to rent your property as soon as they possibly can.

Their Fees Are Too High

So far, we’ve offered you very good points that you can use to verify that you hired a subpar property manager. If you’re still not sure if you hired a subpar property manager or not, another thing that you should look at is the property management company’s fees.

Specifically, the fee that you should be paying on a monthly basis should be no more than between 8 and 12% of the monthly rent. If you are being charged more than between 8 and 12% in fees, you should think twice about continuing your relationship with that property management company and consider choosing the services of another company to manage your rental property for you.

Learn More

To learn more about how you can know if you hired a subpar property manager, or to speak with us about the property management services that we can offer you, contact GoldenWest Management today by calling us at (866) 545-5303 or connect with us online.

AB 1482 Brings California One Step Closer To Rent Control

Proposition 10, the latest attempt at statewide rent control in California was defeated during the November 2018 election.

Sadly, the defeat of Prop 10 didn’t last for long since our elected officials immediately started 2019 with new measures to accomplish their goal of statewide rent control including AB 1482.

What Is AB 1482?

If it’s signed into law by Governor Gavin Newsom, AB 1482 will make it illegal for landlords and property owners in the State of California to raise rents here more than 7 percent plus the Consumer Price Index in one year.

The bill has been controversial from the start because opponents feel that it will stop investors and builders from wanting to build more housing in California while supporters of the bill feel that it gives landlords room enough to operate at a reasonable profit.

Will rent control help California? If history is any indicator of the results that come from rent control then the answer would be no.

California has a major housing shortage and ranks 49th out of all 50 States when it comes to per capita housing construction (2016 McKinsey Global Institute Report) so if AB 1482 is signed by the Governor this will only create another obstacle that will make it less desirable for builders to creating new housing in California.

Why Is Rent Control Bad for California?

There’s no denying that rents are high in California but having statewide rent control will only make maters worse because it’s going to be responsible for making the “Golden State” less desirable for real estate investors to build new housing here.

In 1999, just days before the world was going to end with Y2K, Forbes magazine published an article called “The Dumbest Ideas of the Century,” which included a list of the 10 worst economic ideas of the 20th century. Rent control was second on the list. “Here we have a policy initiative that has done huge damage to cities around the globe. It is very hard today to find an economist supporting rent control,” the article stated. Damage to cities, indeed, but damage to low- and middle-income renters most of all.

Source – Multifamily Executive

Contact GoldenWest Management

To learn more about AB 1482 and how it will affect California, or to speak with us about our property management services, contact us today by calling (866) 545-5303 or click here to connect with us online.

Are Landlords Required to Provide Air Conditioning in San Diego?

If you own rental properties in San Diego or you think about renting a property in the area, you may be wondering if landlords are legally required to provide air conditioning in rental properties?

The answer to this question is no, landlords in San Diego are not legally required to provide air conditioning in rental properties but, if a rental property currently has an air conditioner installed, the landlord is required to maintain that air conditioner. (Source: Landlordology)

A Landlords First Requirement Is to Make Sure That the Rental Is Habitable 

In California, a landlord’s first responsibility is to make sure that their rental property is in “habitable condition”. This means that it must be pest free and have all the things that a typical home or rental property normally has including: running water, working electricity, a roof that doesn’t leak, and most important of all the property must be safe for the tenants live in.

If a landlord in San Diego has met these requirements, they can consider themselves to be following the law but, the reality is that most landlords do include air conditioning with their rental properties because in 2019 just about every tenant views air conditioning as a basic human right.

Although residents of Chula Vista, Oceanside or San Marcos may not use the air conditioners on a regular basis during the summer months, a resident of towns like El Cajon or Ramona will definitely be using their air conditioners a lot during the summer because temperatures in these towns can easily reach into the triple digits four consecutive days each summer.

Yes, it’s true, that landlords in California are not legally required to provide air conditioning in their rental properties but, there are some states where a landlord is legally required to provide air conditioning and the states include Nevada, Phoenix and some parts of Texas.

Contact GoldenWest Management

For more information regarding this issue, or to speak with us about our property management services, contact us today by calling (866) 545-5303 or click here to connect with us online.

What Are The Risks That Can Come With Investing In Multifamily Rental Properties?

Are you planning on investing in multifamily rental properties in San Diego, Phoenix, or Las Vegas? If so, you’re making a smart choice!

As with any investment, there are potential risks involved which can possibly affect your real estate investment, this is why in this article we will share with you several of the risks that you should be aware of when investing in multifamily rental properties.

The Economy And Multifamily Rental Properties

In 2019, Multi-family rental properties continue to be the investment of choice for many Real Estate Investors across the United States, including famed investor Grant Cardone because, as he once said “more doors equals more income”.

Sadly, for investors who don’t have millions of dollars in capital to work with like Cardone, another economic downturn like what we saw in 2008 could adversely affect their multi-family rental property income.

Right now, the economy in the United States can be considered to be quite stable, if not even robust, but if the economy goes upside down as it did in 2008, massive job losses in California or other states could make it impossible for some tenants to pay their rents and cause them to look elsewhere for work.

When there are fewer jobs in an area than before, lack of jobs will also naturally make it more difficult for some owners to fill their apartments, condos, or town homes and they may have to accept lower rents if they want to fill those vacancies.

Investors Must Know What “Stage” The Real Estate Market Is In Before Buying Multifamily

In the real estate markets of Southern California, Phoenix, and Nevada, it’s not been uncommon over the years for Real Estate to be affected by peaks and valleys in the market. We saw this happen last year when mortgage interest rates increased in August of 2018 and with that increase also came a drop in buying activity.

Investors who plan on buying multi-family rental properties in California or elsewhere across the United States should be aware off the stage that the real estate market is currently in just as they don’t purchase a multi-family rental property at the wrong point in the market cycle and ultimately lose money.

Contact GoldenWest Management

Besides the risks that we’ve mentioned already in this article, some of the other potential risks that investors should be aware of include potential litigation risks, management risks, and competition from other multi-family rentals in the area where they are planning on investing in a multifamily rental property.

To protect your multi-family investment and ensure that is professionally managed contact GoldenWest Management stay by calling us (866) 545-5303 at or click here to connect with us online.

SB 151 – What Is It? How Does It Affect Renters in Nevada?

LAS VEGAS, NV. – 2019 is shaping up to be a big year for owners and renters in Nevada, mainly thanks to SB 151, new tenant protection legislation that officially went into effect on July 1st, 2019.

In this article, we will break down SB 151 so that anyone who owns or rents a property in the State of Nevada will be more aware of how this new legislation affects them.

What Is SB 151?

SB 151 provides tenants with more time to deal with the consequences of eviction after they have had an eviction notice posted on their home.

If an evictions notice is posted on a tenant home, they will now have seven judicial days to pay their rent or quit.  The previous time frame was five calendar days, that Nevada tenants had before this legislation was passed.

With SB 151, the period of time that a constable has to remove tenants from a rental property has been increased from not later than 24 hours after they’ve posted the notice to no earlier than 24 hours after the evictions notice has been posted.

SB 151 also keeps the amount of time a person has after receiving a written notice to surrender real property or mobile home to 3 days unless the property transferred in a residential sale, and clarifies that the new owner has the same rights, obligations, and liabilities as of the previous owner.

Last, of all, this new housing legislation also enables an owner to utilize an attorney or agent to prosecute the eviction action on their behalf. Eviction service companies now have to obtain a process server permit/license in order to properly serve notice to pay or quits.

Controversial Bill

With more tenant protections bills being passed across the United States, lawmakers in Nevada had been eager to get SB 151 passed although the bill was widely opposed by most business organizations in Nevada including Nevada Realtors®.

The people most affected are landlords who are either self-managing or those who have property managers doing all the court and notice service in house. They will now need to go find a permitted process server to carry out these tasks.

Tenant’s groups have said that the bill will improve tenants’ rights in Nevada by giving them more time to go through the evictions process. The bill’s language also states that a landlord must allow tenants the right to enter their rental properties for essential items or lifesaving medicines after they’ve been evicted.

Organizations who opposed SB 151 claim that by giving tenants more time to go through the evictions process, this will make it more difficult for owners to get their properties back on the rental market.

Now Effective as Of July 1st, 2019

Regardless of the opposition, SB 151 is now law as of July 1st, 2019 and this also means that owners have to update their residential lease agreements to reflect the new language since the changes from this law have now gone into effect.

GoldenWest is already ahead of the game when it comes to eviction service. GWM works with a third eviction specialist to ensure notices are processed appropriately. Our system already accounts for the longer process times, so we will still be prepared to file in court by the 16th of each month. Finally, GWM always has a licensed manager ready to handle court appearances for contested evictions or constable meet up for lockouts.

Contact GoldenWest Management

To speak with us about our property management services, contact us today at (702) 685-7696 or click here to connect with us online.

Things to do in San Diego during the summer

Are you planning on visiting the San Diego area this summer? If so, SD is one of the best places to be during the summer months because we enjoy moderate temperatures when compared to the rest of the country and there are many fun things to do in the San Diego area.

Here are a few things that you should consider adding to your schedule of things to do in San Diego this summer.

Visit the San Diego Zoo

The San Diego Zoo should be first on your list of places to visit in San Diego because it’s a great way to spend the day while viewing the wide variety of animals that live in the zoo.

Tip – Be prepared for the day by wearing a pair of comfortable walking shoes because there are some uphill paths. You should also bring a bottle of water, a hat, and sunscreen so you don’t get sunburned.

Cost – Tickets for the San Diego Zoo range from $46 for children ages 3-11 and $56 for people ages 12 and up.

Check Out Balboa Park

Located right next to the San Diego Zoo, Balboa Park is another iconic San Diego area attraction that should not be missed because there are a wide variety of interesting museums, shops, and fun things to do that are affordable and family friendly.

Hit the Beaches

From Imperial Beach to Oceanside, there are a wide variety of beaches to visit in the San Diego area and all of them offer something different!

Tip – If you plan on visiting one of the San Diego areas beaches be sure to get there early because parking goes fast at the beach, especially during the summer months!

Take A Cruise!

The San Diego Harbor Cruise is another great way to enjoy to get out and enjoy the natural beauty of the San Diego Harbor area and see local landmarks while still being close to shore!

Tip – The Harbor Cruise goes out during the day and night so there’s plenty of time for you to get your cruise on especially if you want to have a romantic night out with your significant other.

Contact GoldenWest Management

To learn more about things to do in the San Diego area, or to speak with us about our property management services, contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.

What Are Opportunity Zones? Here’s Everything You Need to Know

Thanks to the 2017 Tax Cuts and Job Act, investors in the United States can benefit from investing in Opportunity Zones.

What exactly is an Opportunity Zone? It’s a special designation that a city can give to lower income areas or neighborhood and they are very similar to 1031 Exchanges.

When a real estate investor sells one of their properties, they can invest the proceeds from the sale of their property into an Opportunity Zone and defer paying Capital Gains on the sale of their property for seven years.

Opportunity Zones now allow an investor to defer capital gains taxes by trading one asset with another asset in a different asset class

Where Are Opportunity Zones Located?

As of April 2019, there are Opportunity Zones in all 50 states including the Virgin Islands, Guam, and Puerto Rico.

In California there are currently 879 Opportunity Zones, 871 are located in low-income areas while 8 are located in non-low-income areas.

97% of California’s opportunity zones located in urban areas while 5% are located in rural areas.

If you’re interested in investing in Opportunity Zones in the San Diego area, these areas of investment can be found in Golden Hill, South Park, and Barrio Logan.

Nevada currently has 61 Opportunity Zones while Arizona has 144 with 61 located in Maricopa County and 28 in Pima County.

Who can invest in an opportunity zone?

Investors with large capital-gains bills are appropriate candidates for these funds. But Aaron Clarke, a wealth advisor at Halpern Financial in Ashburn, Virginia, says it’s a limited market. “They are really only appropriate for serial entrepreneurs – people who are real estate investors by trade (not a hobby) and people who have a strong local knowledge of the opportunity zone they plan to invest in,” he says. Currently, most qualified opportunity zone investments are available to accredited investors. Investors typically need to be high-income earners, such as those with annual incomes of at least $200,000 who file with a single status, or have a net worth above $1 million, excluding their primary residence.

Source – US News

Contact GoldenWest Management

Property Management is the key to saving the time, money and hassle of managing your investment properties yourself. To learn more about the property management services we can offer you contact us today at (866) 545-5303 or click here to connect with us online.

Property Management News – Learn How Demand for Multi-Family Rentals Is Changing In 2019

If you’re old enough to remember the rental market of the 1980s and 1990s, you remember that most people who rented units in multifamily rental properties were often younger renters who were just starting out in life.

In 2019 the demographics have changed, it’s not just younger renters who are living in multifamily rental properties any longer. There are renters across every age demographic who are living in multifamily properties compared to single-family homes.

The Changing Demographics of Multifamily Properties

Thanks to recent data from National Real Estate Investor we know that the apartment market has grown by 12% over the last 10 years. This growth can directly be traced to the changing demographics of the multifamily industry.

  • Millennials – In 2019, more people from this age group are putting off getting married and starting families than other generation in years past. Many people from the Millennial age group are also putting off buying homes early in life like their parents once did and are settling for renting multifamily properties.
  • Baby Boomers – More homeowners age 65 and older are choosing to sell off their single-family homes in 2019 and live in multifamily rental properties. Why? Most Baby Boomers who choose multifamily over the single family like the convenience that multifamily offers them and the fact that they don’t have to have as much “stuff” as when they lived in single-family properties

Another reason why there’s been such a huge demand for multifamily rentals over the last 10 years is most apartments, fourplexes, condos and other multifamily properties are being built closer to downtown areas. This means less of a commute to work for renters, easier access to the downtown nightlife, amenities, and medical care than single-family homes.

Contact GoldenWest For Professional Property Management

To learn more about changing demographics in multifamily rental properties, or to speak with us about our property management services, contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.

What Should You Do After Purchasing A Rental Property?

Are you planning on purchasing a rental property in San Diego, Phoenix, or Las Vegas? If so, you’ve come to the right place!

Like most new Real Estate Investors, you’re excited about purchasing your first investment property but, once the excitement where’s down, you’re most likely going to ask the question: what should I do next?

In this article, we will answer this question and provide you with some things to do after purchasing your first rental property.

#1 – Get The Property Inspected

The first thing that you should do after purchasing your first rental property is to have it professionally inspected by a contractor or handyman. This step is important because you want to know what condition the property is in and verify if there are any repairs or renovations that the property needs before you can rent it out to your first tenants.

Depending upon the age of your rental property, it may only need a coat of paint before you can start running it but, if it needs extensive repairs and renovations. You should prioritize those repairs and spread them out over the course of one year, that way you can get your property into cash flow and have money coming in to cover those repairs over time.

#2 – Hire A Professional Cleaning Company

After purchasing your first rental property and hiring someone to make repairs or renovations, the next thing that you should do is hire a professional cleaning company to give your rental property a thorough cleaning.

Cleaning a rental property from top to bottom is important because, you just don’t know how well the property was maintained in the past and, you want to provide your future tenants with a clean, safe, and sanitary rental property before you rent it out to them.

#3 – Take Photos And Video Of The Rental Property

Once you have the rental property professionally inspected and cleaned, the next thing that you should do is either hire a professional photographer or use your camera phone to take pictures and video of the rental property.

This step is important because, in this day and age most people will inspect a rental property online by reviewing the pictures and video before they actually choose to tour the property in person so you want to have the best possible representation of your property available online because this will be was responsible for generating interest among prospective tenants.

#4 – Hire A Property Manager

Although you may be prepared to manage the rental property yourself, the most important thing that you should do before renting your first rental property is to hire a professional property management company like GoldenWest management to manage that property for you.

Property management is important because, it will save you the time, money, and hassle of having to manage that rental yourself.

Many investors make the mistake of managing their first handful of rental properties themselves, only choose to hire a property manager after they’ve become so busy that they no longer have time for themselves. Don’t let this mistake happened to you!

Learn more about the services that we can offer you contact us today by calling (866) 545-5303 or click here to connect with us online.

How to Spot an Applicants Fake Landlord References

During the years that you own rental properties in San Diego, Phoenix, or Los Angeles, you may encounter one or more tenants who include fake landlord references on their application.

Sadly, thanks to the Internet, anyone can create a fake landlord reference in minutes especially if they have access to a VOIP phone number or some other tech skills.

If you think one or more of your applicants may have submitted a fake landlord reference, this article will provide you with tips on how to handle them.

Tip #1 – Think Like A Detective

The first thing to do when a prospective tenant has potentially included fake rental references on their application is to call the phone numbers that they’ve listed and act like someone who is interested in renting a property.

Following through with this tip is important because the majority of fake landlord references will not be prepared to take your phone call since they will not be expecting a renter to call and their façade will fall apart when they don’t know how to respond.

Tip #2 – Investigate the Fake Landlord Online

Thanks to online tools, you can easily research a fake landlord in minutes by doing a reverse phone number lookup and cross-check the phone number against the landlord’s name online. If the phone number checks out, the good news is that you have a real landlord reference but if there’s no listing for the phone number online then this is a good sign that it’s a bogus phone number.

Tip #3 – Ask Poignant Questions

When you are on the phone with an applicant’s potential landlord references, you should always ask poignant questions that every landlord will be ready to answer like: did they pay their rent on time, cause trouble, or communicate well with you? If the landlord can’t answer these questions in detail then the odds are that the individual is not really a landlord.

Get Professional Property Management Here

Are you tired of self-managing your rental property? If so, let Goldenwest Management help you reclaim your personal life when you choose our professional property management services to manage your rental property for you.

At GWM, we will save you the time, money and hassle of managing your rentals yourself. Some of the services that we can offer you include tenant screening/placement, accounting, rent collection and more.

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.