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Halloween Safety Tips for Landlords and Property Owners

 

We want all of our landlords to A) Stay safe and B) protect their properties throughout the year.  However, Halloween presents unique challenges to property owners.  There are lots of people, especially little people, intentionally running around on your property.  This can present insurance liability and safety risks.  When researching the topic, we came across the following article on Halloween safety tips for landlords and thought of some great advice to pass on to our readers. They recommend three main ideas, and we’ve added another:

1. Time Block  your Trick or Treating Hours

Agree to set hours with your neighbors for when the neighborhood will be open for Trick or Treaters.

2. Clear a Path to your Front Door

Check around your yard for anything that can be tripped on, or that someone could possibly hurt themselves with.

3. Don’t use real candles

You definitely want plenty of light on your property, but open flames always add danger. All those costumes hanging off of your guests have the potential to catch fire.  Reduce the risk by using battery powered candles/lights.

4. Pass out Candy Outside of the House

You can bypass the risk of people coming onto your property all together by setting up outside near your driveway or walkway.  This way, you can dictate whether or not anyone leaves the (community property) sidewalk and onto your property.

Happy Halloween to all of you Landlords and Readers out there!  Stay Safe!!!

We’re open to more ideas, let us know if you have any advice to pass on!

 

 

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408

The Best Property Manager in Phoenix

When we set out to establish our blog, we tried to take the perspective of our clients.  What do our clients want to know?  That’s why we started the “What to look for in a Property Manager” series, and other posts that give home owners and landlords tips and tricks, and common sense advice about investment property and home ownership.  Beyond that, we tried to think about the kinds of things that landlords looking for a property manager might search.  That’s why you are looking at this post The Best Property Manager in Phoenix.  You probably searched that exact phrase (or a close match to it).  Good for you, that’s a great place to start, but don’t rely fully on this method.

The problem with the search term is that you get an overload of information – ads, yelp reviews, angie’s list, some self promotion, and some great SEO (websites optimized for search).  The search doesn’t really answer your question.  In fact, it probably leads to even more questions.  So what should you do to find the best property manager in Phoenix?  Well, start with this property management blog for some great advice.  Then, get a recommendation from a friend.  Ask other landlords and real estate investors about their experiences.  There’s no better recommendation than an honest one from an actual client.  Don’t know any?  Ask all the property managers you interview for referrals.  If they can’t find at least one client willing to speak well of them then they might not be a company you should trust with your properties.  Websites and reviews can be manipulated, so take them with a grain of salt.  Ultimately, trust your gut.  Don’t go with a manager just because they promise a low price.  Go with someone you like talking to, and that you find trustworthy and responsive because those are the qualities that make a great property manager.

 

 

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408

Property Management: Does Size Matter?

Does size matter when it comes to choosing a property management company?  If you’re a property owner, there’s a good chance you’ve asked yourself this question when vetting property managers.  After all, there are property management companies of all sizes out there ranging from huge conglomerates to one-man shops. Is size a good metric to judge a company?  Luckily, you don’t have to use this metric to rule anyone out…Because size actually doesn’t matter…experience matters.

According to the CCIM, there are over 25,000 property management companies in the united states.  There are so many to choose from that deciding on a single property manager can be difficult.  You might be inclined to lean towards the large team at the conglomerate, but if those companies are filled with licensed managers who don’t know what they are doing, or don’t have a knowledgeable broker or office head supervising the office, things can fall apart quickly.  Things that traditionally go wrong are: Continue reading “Property Management: Does Size Matter?”

Our San Diego Property Management Office

All, we are happy to announce that we’ve opened up a new property management office – Goldenwest Management – San Diego!  The new address is:

12526 High Bluff Dr, Suite #300, San Diego, CA 92130

We look forward to serving our San Diego customers for all their property management needs.

 

 

*Note that we now have a dba in California as Investment Property Solutions, so consider the two one in the same.

 

GoldenWest Management
Investment Property Solutions
CA LIC# 071791904

Goldenwest Management Las Vegas Reviews and Ratings

If you would like to leave a review of the Goldenwest Management office in Las Vegas, please do so at one of the below sites.

  • Goldenwest Management Las Vegas Reviews on Yelp
  • Goldenwest management Las Vegas Reviews on Google

At GWM, we strive to provide a five star service.  If your experience with our Las Vegas office was less than a five, please give us a chance to correct it before leaving us a review.  Feel free to contact our representatives with your issue.

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408

Goldenwest Management San Diego Reviews and Ratings

If you would like to review the GoldenWest Management San Diego office.  Please do so at one of the below links.

  • Goldenwest Management San Diego Reviews on Yelp
  • Goldenwest Management San Diego Reviews on Google

We strive to provide a five star service.  If you haven’t had a great experience with the Goldenwest Management San Diego office, please give us an opportunity to change it by leaving a comment, or contacting us directly.

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408

 

Best Ways to Add Value to Your Home

Best ways to add Value to your home
Infographic courtesy of blog.tradeplatform.com.au

Do you need professional advice on getting the most value out of your investment property?  Contact Goldenwest Management for more details.

 

 

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408

Investment Realty and Buying First Time Rental Properties

Best practices to be a landlord
So you wanna be a landlord image courtesy of http://www.business2community.com/

Need more ideas buying investment property?  Let GoldenWest Management help!

 

 

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408

Why Renting a Home is Good for Your Budget!

Rentals.com Why Renting a Home is a Good Idea
Rentals.com Why Renting a Home is a Good Idea

If you’re in the process of deciding whether to rent or buy a house, you might be interested to learn that deferring home ownership could be advantageous for your budget. Rentals.com has a great article offering some reasons as to why this might be true.  These include:

  1. Living where you want (not where you can afford) – Improving your standard of living
  2. Not having to handle (or pay for) most maintenance issues
  3. Not paying for Utilities (where included)
  4. Access to Free Amenities
  5. Stabilizing your Budget
  6. Investing your Down Payment

Rather own your home?  Take some of the pain and risk out of it by hiring a property manager.

 

 

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408

Repairs and Inspections

One of the most challenging things about owning rental property is handling repairs.  Sometimes it’s the little things like handling normal wear and tear issues, but other times landlords feel a though they have to cross their fingers and hope their tenants aren’t trashing their property.  Many owners struggle with this aspect of property management, and some even find their way into bigger trouble than a few nicks and dings on the walls.  The way a landlord handles inspections and repairs can make all the difference between preserving wealth and losing a lot of value.  We continue the series Professional Property Management: What to Look for in a Property Manager with the latest topic about repairs and inspections.

Repairs and Inspections: What is a reasonable expectation?

The purpose of this post is to enlighten property owners about how property management companies typically handle repairs and inspections, as well as some tips for “best practices” when it comes to doing it yourself.

Inspections

Below are the main things experienced property managers should do, and DIY property owners should consider regarding property inspections:

  • Monthly Drive By’s – These are good to have.  They give you a regular, albeit superficial, visual cue about the state of the property.  You can’t make judgements based on landscaping alone, but this is better than having no information about the state of your property.  Note: If the property is located within a community governed by an HOA, then you don’t need drive by’s as the HOA regulates exterior condition.
  • Details Matter – How detailed is the move-in inspection and move-out inspection?  You need written and detailed record to go along with LOTS of pictures.  The move-in and move-out inspections are critical points in the landlord/tenant process.  Take the opportunity to capture each and every detail. This is the number one thing that landlords and tenants go to court over.
  • Get Interior Inspections – Mid-term interior inspections are good for identifying several Tenant habits that may not be good for your home: Are they smoking in the property?  Are their extra people or pets now residing in the house?  Do YOUR KEYS still work, or were the locks mysteriously changed?  Finally, you will also want to know if your home has been converted into a meth lab, or if there are other drug related things going on within the property.   The general condition of the property is important, but remember you won’t be able to regulate or do much of anything just because your tenants may be slobs.  Build it into your contracts for your tenants to allow you access for routine inspections.

Repairs

Below are the main things property managers and property owners should should consider regarding property repairs:

  • Contractors – Does the property manager use “in-house” contractors only? Regardless of the relationship you or your property manager has with the contractors that do work at your home, make sure you are provided with an itemized bills for materials and labor. A “lump sum” invoice is always a red flag.
  • Written agreements about spending caps – For property managers and contractors, It is important to have an agreement with the Landlord (after all it is your money) on a spending limit for repairs.  This way expectations are set ahead of time about what the owner is willing to spend without having to be consulted. If the estimate is over, only then would the owner have to be bothered with a phone call or email for approval on the fix.  The amount can vary, but $200 is a typical amount. There will be of course some leeway for emergencies or if the landlord is unresponsive, but caps are a good guideline to make sure your wallet is not being emptied without your consent.
  • Technology – There are many online tools available today that allow for easy logging of, and viewing of, repair requests, invoices, etc.  Savvy property managers will have an online repair request system.  Tools like these can make life significantly easier on landlords and tenants, and it provides a “Time/Dated Stamp” of when a request was first reported. This takes the “he-said, she-said” out of repair issues.
  • Cash reserves – This is an important point.  We’ve seen property owners bothered for their payment information for every (even minor) repair.  Property managers should carry reserve funds that can be used to pay for repairs without having to bother owners for every repair payment.  Furthermore, some emergencies need to be tended to immediately, and cannot wait for payment.  A good property manager can handle these situations with minimal impact and intrusion to the property owner.

Choosing a Property Management Company

A great property manager can take the inconvenience out of owning property. By handling the inspection and repair process, managers can provide two valuable things to their clients — money and convenience.  By protecting property owners during the inspection process, and shielding them from the hassle of managing tenant repairs, professional property management companies allow property owners to focus on the things that matter most.

 

 

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408