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.

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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.

Tips For Writing A Clickable Rental Listing

One of the most important things that you’re going to do as an owner is marketing your property and a fundamental aspect is writing a rental listing write up to post online.

Sadly, many owners make mistakes that result in their listings receiving fewer clicks than they should that’s why in this article we will share with you our best tips for creating a clickable rental listing.

#1: Uѕе Dеѕсrірtіvе Hеаdlіnеѕ

Whеn people аrе looking for араrtmеntѕ оn Craigslist, they don’t сlісk оn every lіѕtіng—thеу ѕсаn thе hеаdlіnеѕ for keywords thаt іndісаtе thаt a lіѕtіng fits thеіr criteria. This mеаnѕ thаt unlеѕѕ your hеаdlіnе іѕ dеѕсrірtіvе, арреаlіng, аnd ассurаtе, very few реорlе will сlісk on іt.

Fоr instance, іnѕtеаd оf оffеrіng a “Grеаt араrtmеnt in оnе оf San Diego’s bеѕt suburbs,” соnѕіdеr a hеаdlіnе that ѕауѕ, “Fаmіlу-frіеndlу 3BR арt in Downtown, ѕtерѕ frоm Petco Park.” As уоu саn see, thе fоrmеr dоеѕn’t tell a рrоѕресtіvе rеntеr muсh about the асtuаl араrtmеnt, whereas thе latter gives thе exact ѕіzе, lосаtіоn, аnd hіntѕ аt the fact thаt thе property may bе in an ideal school district.

If you аrеn’t ѕurе whісh hеаdlіnеѕ will реrfоrm wеll, consider doing аn A/B tеѕt: Use two dіffеrеnt headlines tо аdvеrtіѕе thе same unіt, аnd then еvаluаtе whісh produces bеttеr results (bаѕеd оn іnԛuіrіеѕ, quality оf lеаdѕ, еtс.).

#2: Avоіd Sраmmу Fоrmаttіng

Some hеаdlіnеѕ use ALL CAPS AND TONS OF EXCLAMATION POINTS!!!!!! Whеn you dо thіѕ, you’re еѕѕеntіаllу yelling at рrоѕресtіvе renters to try to get thеіr аttеntіоn, аnd іt makes your ads lооk lіkе spam. Inѕtеаd, catch rеntеrѕ’ еуе with соmреllіng hеаdlіnеѕ thаt wіll еntісе them tо сlісk аnd rеаd thе rеѕt of уоur listing.

#3: Wrіtе Dеtаіlеd Copy

Put уоurѕеlf іn renters’ shoes. If уоu’rе looking fоr аn араrtmеnt оn online, whаt tуре оf іnfоrmаtіоn wоuld уоu wаnt tо knоw? At a mіnіmum, we ѕuggеѕt including:

  • An оvеrvіеw оf thе property’s condition: Iѕ it оldеr? Mоdеrn? Newly renovated?
  • A dеѕсrірtіоn of thе property’s lауоut: Is іt an open flооr рlаn? Hоw lаrgе аrе the rооmѕ? Does it have a room on the first floor?
  • Whаt’ѕ included іn thе ѕtаtеd rent? Hеаt? Hot wаtеr? Electricity? Pаrkіng?
  • Dоеѕ thе рrореrtу offer any аmеnіtіеѕ? A lаundrу rооm? A gуm? Outdооr space?
  • Describe thе gеnеrаl lеаѕе tеrmѕ, ѕuсh as month-to-month vs. a уеаr-lоng lease

Whаt will be rеԛuіrеd tо ѕесurе thе apartment? First mоnth’ѕ rеnt? Last mоnth’ѕ rеnt? A ѕесurіtу deposit? Dо you rеԛuіrе a bасkgrоund check? Emрlоуmеnt сhесk? Lаndlоrd references? Verification of income?

Whеn wіll thе рrореrtу bесоmе available fоr rent?

Whеrе іѕ thе property lосаtеd? Iѕ іt convenient to рublіс transportation оr major roadways?

Iѕ thе рrореrtу реt-frіеndlу?

Thіѕ іnfоrmаtіоn will hеlр уоu to wееd оut аnуоnе whо, bаѕеd оn these сrіtеrіа, wоuld nоt bе іntеrеѕtеd іn rеntіng thе unіt. Surе, this may result іn fеwеr lеаdѕ—but the lеаdѕ thе ad does gеnеrаtе wіll be mоrе qualified. In аddіtіоn, уоu’ll сut dоwn оn unnесеѕѕаrу еmаіlѕ аnd рhоnе саllѕ by answering thе questions thаt a vast majority оf applicants will have.

#4: Gеt Crеаtіvе wіth Multіmеdіа

Lеt’ѕ ѕау thаt уоu’vе рut tоgеthеr the mоѕt dеѕсrірtіvе ad оf аll tіmе. Pеорlе will STILL wаnt tо knоw whаt іt lооkѕ like. So, уоu саn еіthеr line up a ѕhоwіng for each рrоѕресtіvе tenant; or уоu соuld include ѕоmе form of multimedia іn уоur ad (рісturеѕ, vіdео, еtс.) Aftеr all, a рісturе is ѕuрроѕеdlу worth a thousand wоrdѕ!

Get Property Management Here

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

5 Tips For Becoming A Successful Landlord

Are you thinking about buying a rental property and becoming a landlord? If so, you’re making a smart choice.

Now is a great time to buy rental properties in the United States because mortgage interest rates are still historically low while demand for rental properties is high.

In this article, we will share with you 5 tips for becoming a successful landlord.

Treat Yоur Rental Property Like a Business

Sadly, mаnу lаndlоrdѕ dо a poor jоb аt managing their rental properties. Thіѕ іѕ in large part because they dоn’t see thеіr property аѕ a buѕіnеѕѕ. In оthеr wоrdѕ, they trеаt their investment like a hobby.

Whеn уоu, trеаt уоur landlording wіth thе rеѕресt, systems, аnd оrgаnіzаtіоn thаt you wоuld deal with аnу оthеr commercial vеnturе, wonderful things саn and will occur.

Screen Out the “Bаd Apples” Or Unqualified Tenants

Whеn ѕсrееnіng tenants you should require:

  • Thеу muѕt mаkе 2.5x thе mоnthlу rеnt іn ѕtаblе profits
  • Nо rесеnt еvісtіоnѕ
  • No rесеnt fеlоnіеѕ
  • Gооd preceding landlord references

Be careful nоt to ѕсrееn out tenants based оn any оf thе blanketed сlаѕѕеѕ, оr уоu соuld fіnd уоurѕеlf іn a lawsuit.

Trеаt Your Tеnаntѕ With The Respect That They Deserve

Although it may be difficult, you absolutely have to treat your tenants with the respect that they deserve because if a tenant feels like you value their business and treat them with respect they will want to renew their lease.

You Can’t Be Too Nice

Yоur jоb аѕ a lаndlоrd is tо be fаіr.

Bеіng “nісе” wіll gіvе your tеnаntѕ and оthеrѕ thе invitation tо stroll аll оvеr уоu аnd tаkе аdvаntаgе аt еvеrу flip.

Bу аllоwіng your tеnаnt to interrupt thе rulеѕ, уоu ореn уоurѕеlf up tо years of battle and compromise thаt will ultіmаtеlу lеаd tо large financial losses.

Thеrе іѕ a distinction bеtwееn rеѕресtful and being nісе. Choose wіѕеlу.

Gеt Hеlр When You Need It

Wіth оvеr 28 Million actual еѕtаtе іnvеѕtоrѕ іn Amеrіса, (Source: BіggеrPосkеtѕ.соm) there аrе bоund tо be countless іnvеѕtоrѕ іn уоur tоwn who саn hеlр уоu оut all through hard times.

Whеthеr іt’ѕ thе smartphone numbеr for a plumber, hеlр dealing wіth a tоugh еvісtіоn, оr juѕt rеаѕѕurаnсе which you аrе dоіng thе rіght (or wrоng) factor, rеасh out to оthеr lаndlоrdѕ fоr hеlр. Landlords love tо “communicate ѕhор” ѕо lооk for opportunities tо open thе verbal exchange.

Get Property Management Here

Once you buy your first rental property, make the smart decision to hire a professional property management company instead of managing your rental property yourself.

To learn more about the property management services that GoldenWest Management can offer you contact us today at (866) 545-5303 or click here to connect with us online.

Carbon Monoxide Detectors – Should You Install Them in Your Rental Properties? Yes!

By GoldenWest Management

Do you have smoke detectors installed in your rental properties but not carbon monoxide detectors?

Carbon monoxide detectors should be essential in every rental property because they save lives.

Unlike smoke, Carbon monoxide is a gas that doesn’t have any odor or color and it can be lethal to animals or humans who have been left in a home or environment that has a carbon monoxide leak.

What Does Carbon Monoxide Come From?

Carbon Monoxide can be found in combustion fumes, including those made by cars and trucks, lanterns, stoves, gas ranges or other heating systems. Source – cdc.gov

It’s very common for carbon monoxide to build up in places that don’t have good air circulation or fresh air.

What Are the Symptoms of Carbon Monoxide Poisoning?

If you suspect that someone might be suffering from carbon monoxide poisoning, some of the most common symptoms include: Dizziness, Weakness. Nausea, vomiting and chest pain.

(Source – Medlineplus.gov)

This poisonous gas sends roughly 15,000 people to the emergency room each year and sadly close to 500 people die on an annual basis from carbon monoxide poisoning. (Source – safewise.com)

How Do Carbon Monoxide Detectors Work?

Carbon Monoxide detectors have three separate sensors: Biomimetic, Metal Oxide Semiconductor and an Electrochemical Sensor that detect the presence of this poisonous gas in the air so that people have time to get out of the home until help arrives.

The only way a carbon monoxide detector can reset itself is if there’s no presence of this deadly gas in the air so the problem does have to be eliminated before humans or animals can return.

How Much Do Carbon Monoxide Detectors Cost?

Thankfully, carbon monoxide detectors cost between $50-$100 each so they are an affordable life-saving solution that every rental property should have.

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.

Are Month-To-Month Leases Bad for Landlords?

By GoldenWest Management

Are month-to-month leases a bad idea?

Although this type of lease is supported by some landlords in the United States who like month to month leases because of the perceived flexibility that they offer, the reality is that a month-to-month lease is a bad idea especially for the following reasons:

Reason #1 – Month to Month Leases Don’t Offer Financial Security

The first reason to not consider a month-to-month lease is lack of financial security that will result from choosing these types of leases.  

This type of lease doesn’t offer you any financial security due to the obvious fact that a tenant can be gone in 30 days and you may have to pay your mortgage or other property expenses out of pocket while you look for another tenant.

Reason #2 –  Vacancy

Without a tenant in place another side effect that can come with choosing a month to month lease is more vacancies during the year.

Depending on the rental market and location of your property your rental could be empty for weeks at a time while you search for a new tenant.

Reason #3 – You Can’t Plan for The Future

Another unfortunate consequence of allowing one or more tenants to have a month to month lease is the fact that you cannot plan for the future because your tenant can be gone within 30 days.

If your income is always fluctuating due to your tenants leaving because of the month to month leases you won’t be able to plan for the future and potentially grow your portfolio of rental properties.

Get Professional Property Management Here

We offer property management in San Diego, Las Vegas, and Phoenix. Our trained staff can save you the time, money and hassle of managing your rental property 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.

Advanced Tenant Screening – Tips You Should Follow

By GoldenWest Management

SAN DIEGO, CA. – Are you searching for advanced tenant screening techniques? If so, you’ve come to the right place.

In this article, we will share with you several tenant screening techniques that you can start using today to find higher quality tenants to live in your rental properties.

Young couple moving in new place

Make Sure Your Tenant Meets Your Application Requirements

After getting the rental application back from your tenants you should check their application to make sure that their application meets all of your requirements including the following:

Photo ID – Their application must have a current photo ID.

Credit – The prospective tenant must have a credit score with seasoned trade lines (3 or more) and more than 2 years history per reported item.

Verification of Income – This should include pay stubs which show that the potential tenant makes 2.5 x Rent.

Bank statements – Should show that the application has at least six months of reserves.

Rental Verification – Must be a written statement from previous landlord or ideally a professional property management company.

Legal – They must have no evictions.

Background check – You must check their background for a criminal record via HUD guidelines.

New apartment building in suburban area

Did They Complete the Application?

After doing all of the above you should next check your tenant’s application to make sure that they filled it out completely and signed the application.

This step is important because a prospective tenant who fails to fill out their rental application may be hiding something and this could lead to you evicting them due to the information they left out on their application.

Young man with glasses working on his notebook, with a fresh cup of coffee nice and early in the morning, getting the business out of the way nice and early in the day

Contact Two of The Prospective Tenants Previous Landlords –RENTAL VERIFICATION

Instead of calling their current landlord, you should contact at least two of your tenant’s previous landlords.

A tenant’s current landlord may give them a “glowing” review (especially if they are eager to get rid of them) while their former landlord may offer you the real truth about who the prospective tenant really is.

Street of residential houses

Verify, Verify, Verify

Last of all, but most important, always verify all references that a tenant gives you.

From their personal references to income sources, it’s possible for someone to create fake references and you will only know if they are legitimate or not until you actually call to confirm and verify them.

images

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For property management in San Diego, Phoenix or Las Vegas contact Goldenwest Management today by calling us at (866) 545-5303 or click here.

4 Rental Property Investment Tips for First Time Owners

By GoldenWest Management

Owning rental property continues to be one of the hottest investments in the United States especially in cities like San Diego where rents have continued increasing in recent years along with demand for rentals.

If you’re planning on buying your first rental property, this article will provide you with 4 rental property investment tips that you should consider.

Businesswoman smiling as she works at her desktop while sitting at her desk, view past the edge of the monitor

Tip #1 – Make Sure That You’re Ready to Buy A Rental Property

Before purchasing your first rental property you should make sure that you’re actually ready to own a rental because being an owner does come with extra responsibilities that you may not be ready to take on right now unless you hire a property management company from the very beginning.

Home Mortgage Down Payment, A gray house, brown card and calculator on stone background with text  Down Payment

Tip #2 – Get Your Down Payment Ready

Since rental properties typically require a bigger down payment than an owner-occupied property you should be ready to come up with at least 20% for the down payment on your rental before you buy.

Beautiful and large living room interior with hardwood floors,  fluffy rug and designer furniture.

Tip #3 – Calculate Your Costs Before You Buy

Another important thing to do before buying your first rental property is calculate what your costs are going to be for your mortgage, property taxes and other expenses.

You want to know exactly what your monthly costs are going to be and if the rental will provide you with a solid cash-on-cash return of 6% or better.

Modern Luxury apartments (condo)

Tip #4 – Start with A Low-Cost Property

Although home prices in many states are valued at $300,000 or higher, you can still find affordable rental properties in the $150,000-$200,000 range if you search for them.

It’s best to start with a low-cost property because your mortgage payment and monthly expenses are obviously going to be lower than they would be with a higher priced property.

Depending on your financial situation, with a lower priced property can start saving for the down payment on your next rental almost immediately or refinance your first rental in a few years and use that money for the down payment on your second rental property

Learn More

To learn more investment tips for first-time owners, 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.

property management concept displayed on tablet pc
Get professional property management today by calling (866) 545-5303 or connect with us through our website.

Renter Tips – 4 Things Renters Can Do to Beautify Their Homes

By GoldenWest Management

Are you renting a property and want to learn more about what you can do to beautify it or make your rental a more pleasant place while you live there? You’re not alone.

In this article, we will share with you 4 easy things you can do to beautify your rental property.

orange house paint

Tip #1 – Paint

Depending on your rental, (and the rules of your property management company) you may be allowed to paint the inside of your rental while you live there but remember when you move out, the walls need to be the same color that they were when you first started renting.

Before getting ready to paint just make sure you choose the right colors for the space. You should also get written approval from the owner or property management company before you start painting.

For example, bright colors will open up any space while darker colors will make a room feel smaller.

If you don’t want to paint an entire room you should consider painting just one wall a bright color then adding accessories like colorful pillows or furniture that will add pops of color to the room.

You can also breathe new life to the whitewashed walls of a rental property with wall stickers or by painting an accent wall. The materials that you need can be purchased at any Dollar Store or a Walmart and are especially perfect for children’s bedrooms.

Living room interior with gray velvet sofa, pillows, green plaid, lamp and fiddle leaf tree in wicker basket on white wall background. 3D rendering.

Tip #2 – Choose Furniture That’s Versatile

Instead of choosing pieces of furniture that will just fit your current rental property you should pick furniture that’s versatile and can be used in other properties that you may move to in the near future.

For example Modular sofas, folding chairs, side tables and coffee tables. You should also add an ottoman or two as well because they are excellent for storage.

Recessed ceiling lights in a coffee shop
Recessed ceiling lights in a coffee shop

Tip #3 – Don’t Forget the Lighting!

Like most rental properties, you may find that the rooms in your rental only have one small light in each room or no lighting at all.

Thankfully, lighting is one of the easiest decorating improvements that you can make and also one of the most affordable.

When choosing lighting for your rental make sure that you choose at least one or two floor lamps for each room and one small lamp that can be placed on an end table.

Bathroom in the bedroom with wardrobe

Tip #4 – Accessorize Every Room

Besides painting, choosing versatile furniture and great lighting for your rental property you should also accessorize each room with window coverings, rugs and artwork because choosing the right accessories will really help to add your “stamp” on the rental and make it your own.

Immobilien online suchen

Search for Rentals Here

Are you planning on searching for a new rental property? We can help! Contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.

What should I do if my tenant ruins my home?

By GoldenWest Management

One of the WORST things to happen to an owner is when their tenant moves out and they discover that their former tenant has trashed their rental property.

Sadly, this problem is not uncommon and the key to success in dealing with a trashed rental property is following these steps.

Step #1 – Call the Police

The first thing to do in dealing with a trashed rental property is to call the police immediately. You will need to file a police report for intentional property destruction and start the legal process of going after the individuals who have ruined your rental property.

Step #2 – Take Pictures and Video of Everything

After filing a police report, the next thing you should do is take pictures and video of the damage. This step is important because, should you take your former tenant to small claims court you will be able to present evidence of the damage they caused.

Step #3 – Stop All Verbal Communication with Your Former Tenant

Although you might be tempted to call or email your former tenant about the damage they caused, you should stop all verbal communication and only communicate with them in writing. Why? Communicating with your former tenant in writing creates a paper trail, helps you to avoid saying the wrong things, and thoroughly documents a timeline of the incidents occurred.

Step #4 – Get Legal Representation

Besides following the steps mentioned above in this article, the most important thing you should do is hire a lawyer.

Having proper legal representation on your side will save you the time, money, and hassle of making poor legal decisions. You really can’t afford to not have an attorney representing your best interests during this process.

Step #5 – Before Renting Again, Hire A Property Manager

At GoldenWest Management we feel for any landlord who has gone through the process of finding out that their tenant trashed their rental property.

We specialize in full-service property management so landlords don’t have to spend their time managing their rental property themselves.

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

Do landlords have to provide refrigerator and washer/dryer?

One of the biggest questions that most renters and landlords have is if it’s the landlord’s responsibility to provide a fridge, washer, and dryer in the rental property.

Although some rental properties may have these common appliances, the reality is that it’s not the landlord’s responsibility to provide them.

Implied Warranty of Habitability

The main reason why landlords are not required by law to provide a washer, dryer, or refrigerator at a rental property is because of the of the implied warranty of habitability.

An implied warranty of habitability is a warranty implied by law in all residential leases that the premises are fit and habitable for human habitation and that the premises will remain fit and habitable throughout the duration of the lease.

Source – Legalmatch.com

The rental unit must be up to code, meet safety standards, have working electricity, a functioning heater and properly working plumbing. As long as the Implied Warranty of Habitability is met, most owners will consider their job to be done when it comes to providing a habitable rental property.

Most Landlords Will Supply Stoves, But Not Other Appliances

In this day and age, it’s common to find a rental property with a stove that’s been supplied by the owner. When it comes to other appliances though, like a washer, dryer, or refrigerator it’s not uncommon to find that the rental property doesn’t have those appliances.

Some landlords may choose to equip their rental properties with appliances like washers and dryers, especially if they are trying to rent their properties during a competitive market. The reality is that it’s extremely unlikely that a landlord will invest in additional appliances unless they were already in the rental property when they purchased it.

Landlords Must Guide Tenants Back to The Law

If a landlord faces feedback from a tenant who believes that they should provide appliances like washers, dryers, refrigerators, and stoves, that landlord should guide their tenant back to the law, and the implied warranty of habitability, then show the tenant that those standards have been met.

Landlords who wish to provide tenants with common appliances in their rental property should make sure that those appliances are properly documented before the renter take possession of the property, and the appliances should be listed in the lease agreement, just so the tenant knows they cannot take the appliances with them when they move out.

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.