Should You Allow Pets at Your Rental Property?

Did you just invest in your first rental property and are wondering if you should accept pets?

This is a very common property management question to ask because there are seemingly more pet owners in the United States than ever before and it makes sense to take this into consideration.

In this article we will answer this question and provide you with pros and cons to consider allowing pets and not allowing them at your rental property.

Why You Should Consider Allowing Pets

The first reason to consider allowing pets at your rental property is most pet owners are responsible tenants who love their pets and would do everything possible to abide by the rules of the rental property because they don’t want to be faced with having to find another rental again.

Besides the obvious reason of renting to someone who is responsible, you can also charge a pet deposit of $250 to $500 and a monthly pet rent of $25 or more.

Why You Should Have A No Pet Policy

Yes, it’s true that many owners do have a no pet policy these days because they previously had a negative experience with pets in their rental properties that caused damage.

You have to consider the potential damage that can come with allowing pets in your rental property and place stipulations on the types or breeds of pets to eliminate the possibility of renting to tenants who have pets that might potentially damage your rental.

Besides banning specific pets, another helpful way you can protect your best interests as a landlord is to do a background/credit check.

This will give you the confidence in them that you need to be assured that they are going to be the type of tenant they claim to be on their rental application.

Get Property Management Here

For property management in San Diego, Phoenix or Las Vegas, contact Golden West Management at (866) 545-5303 or click here to connect with us online.

Airbnb Versus Long Term Rental – Which One Is Better?

In 2018 it’s not hard to know someone who has stayed in an Airbnb within the last year because they are seemingly everywhere these days.

Are Airbnb’s better than long-term rentals? In this article, we will break down Airbnb’s versus long-term rentals and provide you with a concise answer on which is the better option for your rental property.

Bеnеfіtѕ Of Airbnb’s Or Short Term Rеntаlѕ

If you’re thinking about adding a short-term rental or an Airbnb to your portfolio of rental properties, here are some benefits that come from owning this type of rental.

  • Pеrѕоnаl vасаtіоn uѕе: Mаnу іnvеѕtоrѕ lіkе tо mаkе реrѕоnаl uѕе оf thеіr vасаtіоn rеntаl рrореrtу, and rent іt оut tо others whеn іt іѕ, not іn uѕе.
  • Less wear аnd tear: Shоrt tеrm rеntаlѕ tеnd tо bе оссuріеd аrоund wееkеndѕ аnd busy tоurіѕm seasons, but nоt throughout thе entire year. Because оf thіѕ, it tеndѕ tо take rеlаtіvеlу lоngеr tо buіld uр noticeable wear аnd tear оn thе рrореrtу.
  • Mоrе оvеrаll rеntаl іnсоmе: Owners are tурісаllу аblе to сhаrgе a hіghеr nіghtlу rаtе fоr short tеrm rentals. Althоugh оссuраnсу can fluсtuаtе, thuѕ mаkіng rеntаl income less соnѕіѕtеnt, ѕhоrt term rentals tend tо рrоvіdе mоrе rеntаl іnсоmе lоng term.

Short tеrm rеntаlѕ аrе nоt without роtеntіаl dоwnѕіdеѕ though. Why? The answer is obvious. Rеntаl іnсоmе іѕ a dіrесt result оf bеіng able tо bооk ѕhоrt-tеrm guеѕtѕ throughout the уеаr and ѕhоrt tеrm rental оwnеrѕ wіll find thаt they nееd to put in mоrе еffоrt tо mаrkеt their hоmе.

As an owner of a short-term rental property, you will have to be ready to do more work to keep your rental occupied all year long including: mеѕѕаgіng bасk and fоrth between іntеrеѕtеd guests, uрdаtіng lіѕtіng ѕіtеѕ, or offering рrоmоtіоnаl dіѕсоuntѕ and so much more.

Bеnеfіtѕ Of Long Tеrm Rеntаlѕ

Planning on keeping your rental property a long-term rental? This is a smart choice to make, especially because of these benefits.

  1. You will enjoy cоnѕіѕtеnt cash flоw: Because a longer-term tenant рауѕ a соnѕіѕtеnt rental fее оn a wееklу or mоnthlу basis.
  2. The utility bills will always be pаіd: If you have tеnаntѕ occupying your lоng tеrm vасаtіоn rentals fоr a mоnth or lоngеr, then оftеntіmеѕ utіlіtу bіllѕ саn bе раѕѕеd оn to the tenant.
  3. There will be less turnover.

Get Property Management for Your Long-Term Rental

Do you own long-term rentals in San Diego, Phoenix or Las Vegas? Contact Goldenwest Management at (866) 545-5303 or click here to connect with us online.

5 Tips for Phoenix Rental Property Owners

Phoenix Rental Property

By GoldenWest Management, Inc

Phoenix, Arizona – Are you just getting started with owning Phoenix Rental Property? If so, here are 5 tips you can use to manage your portfolio of income properties efficiently and grow your business.

Tip #1 – Always Screen Your Tenants

Never go with your “gut instinct” when it comes to your tenants, you should always screen your tenants by checking their credit, background history, references and work references.  Don’t make it an emotional decision, it will protect your home as well as keep HUD (Fair housing) away from any type of discrimination complaints. If you don’t have a set approval process (heuristic of some sort) you run a high chance of having a case brought against you…and it doesn’t require a lawyer for a jilted prospect to make your life miserable.

The tenant screening process is a vital part of owning any rental because it will give you the best opportunity to protect yourself. We have a great saying in our office, “once they are in, their in.”

Tip #2 – Get Everything in Writing

Always document your relationship with your tenants including if they complain about different issues, or have complaints made against them, because, a written history will only protect you if you need to one day face your tenant in court. Demand that they provide a move-in inspection report. Don’t think that because they don’t send a condition statement, that when they move out, you will be in the clear. The onus is on YOU, the landlord, to give them every opportunity to note any issues with the property.

Tip #3 – Use Your Head with Security Deposits

When it comes to security deposits you never want to do things on the fly. You must have a clear system for collecting, settling and holding security deposits because, return of the security deposit is one of the top reasons why most property owners find themselves in a dispute after a tenant moves out when they could have avoided disputes by being clear from the very beginning.

In Arizona, a private owner can commingle the security deposit in a personal account, just so long as you maintain proper accounting records.

But when it comes time to move out, you have (14) business days to send a deposit disposition, including any remaining balance left over (depending on deductions) to the Tenant. We recommend certified return receipt if you mail the refund.

Most important, the Tenant’s security deposit is not your slush fund to remodel your home…for those landlords who think that you can hit the tenant for all repairs (full paint job, brand new floors) you are in for a surprise in Maricopa County small claims court.

Tip #4 – Keep Your Word about Repairs

Things will break down over time at your Phoenix Rental Property and it’s important to always keep your word with tenants about when they can expect to have repairs made since some tenants may consider withholding rent or moving out without notice if they classify your rental as not habitable.

You have 48hrs to address habitability issues – think about when the AC goes out on a Saturday in July. After that the Tenant has the right to fix the problem and deduct it from the rent or go get a hotel and deduct the accommodations from the rent. Make sure you have contractors that will respond or you will have issues.

Tip #5 – Don’t just show up at your rental home.

I hate to break it to many landlords, but you have the right to “reasonable” inspections…which I have personally seen the court say anything less than quarterly is not going to fly. In addition you have to give written 48hr notice prior to stepping foot on the property unless its an emergency repair. The court will not let you “disturb” the tenant’s right to quiet enjoyment of the property, regardless of whether you think you were had a right to be at the home or not.

Get Phoenix Rental Property

Review the above items…if you don’t live close to the home, there is no reason for you as individual to ever roll the dice of managing a property on your own. Even if you live right down the street, if you don’t aren’t an expert in landlord-tenant law, you absolutely should consider hiring a property manager. Those (5) tips are just small samples of what professional property managers in phoenix like the staff at GoldenWest Management deal with every day, for hundreds of properties.

Phoenix Rental Property

For more information about Phoenix or Scottsdale Property management contact GoldenWest Management, Inc today by calling us at (602) 765-4750 or CLICK HERE to connect with us online.

Property Management Tips – Learn “Rules” for Owning Henderson Nevada Rental Property

rules

By GoldenWest Management

HENDERSON – Thanks to the hot Real Estate market, and demand for rental property, you may be thinking about getting started with buying Rental Property in Henderson, Nevada.

Owning rental property is a good investment choice since the there is a high probability of positive cash flow and long term appreciation by the asset. Before you get started make sure you learn these simple rules for owning rental property.

#1 – Focus On Consistency

During the time that you own in Henderson, your primary goal should be to be finding quality, long term Tenants. Turnover and vacancy absolute kill your bottom line.

Focus on setting a  conservative price, screening for “A” rated Tenants, and encourage them stay long term and make upgrades (with permission) so that they feel “at home.” Let them paint, plant a small garden, and make the home nicer. When there is a benefit for you, chip in on the expense…trust me it will make the Tenant want to do more.

#2 – Always Create a Paper Trail

As your portfolio of Henderson Nevada Rental Property grows you may deal with a problem situation from time to time and that’s why it’s always best to document everything with your renters including: Taking pictures of the unit before they move in or out, making copies of documents, and always using email to “follow up” on phone conversations. Avoid the “he said, she said” at all costs…creating a “paper trail” will only protect you later on.

#3 – Check Your Renters References Thoroughly

Before renters move into your property it’s important to always check their references including: income verification and personal references because, it’s very common for a renter to use “fuzzy” references on their applications and checking the items on their applications thoroughly before the move in may save you the time, money and hassle of choosing the wrong renter.

Rent Your Henderson Nevada Rental Property

Let GoldenWest Management save you the time, money and hassle of renting your Henderson, Nevada Rental Property.

Contact us today at (702) 685-7696 to learn more about our property management services or click here to connect with us through our website.

For Rent San Diego – How to Write Property Listings Prospective Tenants Will Want To Read

For Rent San Diego

By Goldenwest Property Management

Did you know that your property listing literally has 20 seconds or less to impress a prospective tenant before they move on to searching for another listing?

Yes, this is true.

Most people who are searching for properties for rent San Diego, or elsewhere in the United States, will glance at the first picture (otherwise known as the “Money shot”) you have posted of your property then briefly read the first 2 lines of your property description before deciding on if they want to review the property further or move on to another listing.

If you’re interested in increasing the effectiveness of your online listings here are 3 tips which will help you to write better property listings.

Tip #1 – Avoid Using CAPS!

One of the biggest problems with online property listings occurs when people use CAPS to describe their properties.

Example: “AWESOME PRICE! WON’T LAST LONG!”

Although using capitalized letters does convey emotion, the reality is that when you use CAPS this is the same as shouting if you were having a conversation with someone face to face.

Tip #2 – Stop Using Abbreviations

Stop using abbreviations that are confusing in your listings, and when possible write the whole word again, like you may have been doing when you originally started in the business.

Abbreviations like “3br/2b” are what everyone else is using to market their properties online and you can make your listings stand out by taking 5 minutes to actually write about your properties so that prospective tenants are aware of what your home for rent San Diego can really offer them.

#3 – Write Shorter Sentences

Last of all, but most important, when writing property listings make sure you write short and sweet sentences, instead of long sentences.

Shorter sentences are important since people who are searching for properties For Rent San Diego are accustomed to reading shorter sentences online anyway, and you can use a short sentence as a bullet point to capture the reader’s interest with little points about what your property can offer them.

Examples:

This 3 bedroom / 2 bath home has a big backyard with plenty of room for children to play.

The home offers a spacious kitchen with plenty of cabinet space and a large pantry.

For Rent San Diego

Why spend another minute marketing your property For Rent San Diego? Contact the experienced team of property managers at Goldenwest Management, Inc today by calling us at (866) 545-5303 or click here to connect with us online.