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.

Roommates Best Practices

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By Goldenwest Management

As a landlord one of the things that you can expect to deal with is renting to roommates, especially if your rental property is close to a major college or university, but renting to roommates is much more than just collecting the rent, there are roommate best practices you should follow including the following:

#1 – Make Sure Roommates Are Jointly Liable

When renting to roommates you should make them sign a lease that holds them “jointly and severally liable”; this is a standard provision in leases to roommates and ensures that if one roommate violates the lease, the other roommate will be held equally responsible for paying damages, fees, and bills that their roommate may be responsible for.

Tenants should make sure that they choose their roommates wisely and only rent a property with someone that they know and trust considering the financial burden they could be faced with paying should one of their roommates cause damage or skip out on paying rent.

#2 – Think Twice Before Subleasing

Although subleasing may seem easy to some landlords, you should think twice about agreeing to sublease your rental property because a sublessor is not considered to be jointly or severally liable for paying rent or other lease obligations should they decide to move out since they didn’t actually sign your lease.

#3 – Always Follow the Same Process for Screening Tenants

Let’s say that one roommate decides to move out and the remaining roommate has someone in mind that they will like to rent to; in this case you should always screen the replacement roommate and don’t relax on your screening standards because landlords often get into trouble when they relax their screening standards or do things on the fly.

#4 – Create a New Lease When New Tenants Move In

If you have new roommates moving into your rental property you should always execute a new lease agreement and make sure that all tenants sign the new lease because this will ensure that every tenant who lives in the rental property is held jointly and severally liable.

#5 – How to Handle the Security Deposit

Before all roommates move in they should pay you the security deposit as you would expect it to be paid from your individual tenants but, if one of the roommates move out, the security deposit should not be broken up, the incoming tenant should pay their portion of the security deposit to the outgoing tenant.

#6 – Insist On One Rent Check

Although it might be common for some landlords to expect payments from all roommates at their rental property, you should insist on receiving one rent check because not only will this cut down on administrative work for you, it will also effectively treat all tenants as one individual.

#7 – Ask the Roommates to Assign a Tenant Representative

Another handy thing to do when dealing with roommates is to assign a tenant representative since this will make it easier with resolving issues at the rental property instead of having to deal with each roommate when problems or issues arise.

Get Property Management Here

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