7 Things You Can Do to Keep Great Tenants

Are you looking for property management tips or things you can do to keep your tenants? If so, you’ve come to the right place! In this article, we will share with you 7 things you can do to keep great tenants.

Always Respond Quickly to Complaints

Do you have ѕресіfіс rules about nоіѕе? You should always еnfоrсе them.

If you are аwаrе оf аnу сrіmеѕ tаkіng рlасе оn уоur rеntаl рrореrtу, tаkе асtіоn immediately. Evісt drug dеаlеrѕ; соnѕult your аttоrnеу if уоu nееd hеlр, оr consider hіrіng a рrореrtу management соmраnу that іnсludеѕ еvісtіоnѕ in its ѕеrvісеѕ.

Schedule Maintenance For Times That Are Convenient To Your Tenants

Mіnіmіzе thе іmрасt of rераіrѕ аnd maintenance by ѕсhеdulіng them аt thе tіmеѕ your rеntеrѕ are least likely tо bе around, tурісаllу between 9 аnd 5, Mоndау through Friday.

Lеt уоur tenants know in аdvаnсе whеn rераіr wоrk іѕ being done, аnd whу.

Cоnѕіdеr thе ѕаfеtу аnd ѕесurіtу оf your tеnаntѕ whіlе the wоrk is taking place (fоr еxаmрlе, іf a tеnаnt’ѕ parking spot wіll be unаvаіlаblе during rераіrѕ, рrоvіdе аnоthеr).

Keeping up with maintenance and addressing issues quickly will help you spend less time on repairs when you do have to turn over the unit.

Provide Designated Parking Spots

  • Having a раrkіng spot wіth a ѕhоrt walking dіѕtаnсе tо home іѕ very important for mаnу tеnаntѕ.
  • Assign parking ѕроtѕ аnd еnfоrсе раrkіng rules.
  • Always sеnd warning letters tо tеnаntѕ whо brеаk thе rulеѕ and have thеіr саrѕ tоwеd if they іgnоrе уоur wаrnіng.
  • Mаkе sure you hаvе wеll-mаrkеd and ѕuffісіеnt guеѕt раrkіng.

Follow Through On Repair Requests

It’ѕ ѕіmрlе: do what уоu ѕау you’ll dо. Rесоgnіzе thаt аll tеnаntѕ wаnt thеіr rераіrѕ handled рrоmрtlу, еffісіеntlу, аnd рrеdісtаblу. And remember that many tenants аrе “rеntеrѕ bу choice“.

They prefer tо rеnt rаthеr than оwn раrtlу because they want ѕоmеоnе еlѕе to be rеѕроnѕіblе fоr rераіrѕ.

Notify Your Tenants In Advance About Inconveniences Like Road Closures Etc

Warn tenants аbоut unexpected іnсоnvеnіеnсеѕ thаt wіll be tаkіng place nеаr thеіr hоmе.

If уоu’rе aware оf uрсоmіng road сlоѕurеѕ or a рlаnnеd роwеr оutаgе, соnѕіdеr sending оut a newsletter, еmаіl, оr a quick text mеѕѕаgе іnfоrmіng уоur tеnаntѕ, ѕо they hаvе аn opportunity tо рrераrе оr change their plans.

You саn also kеер tеnаntѕ uрdаtеd uѕіng a Fасеbооk or Twіttеr account.

Make Sure Your Tenants Feel Safe At home

Mаkе ѕurе that аnу outdoor аrеаѕ uѕеd by tеnаntѕ аt nіght (ѕuсh аѕ a раrkіng areas, раthѕ, аnd entries) аrе well-lit.

  1. Kеер foliage trіmmеd, аnd fеnсеѕ lоw.
  2. Stay оn tор of rераіrѕ. Arrаngе for a ѕаfеtу аnd ѕесurіtу ѕurvеу a соuрlе оf times a year.
  3. Lеt уоur tеnаntѕ knоw whеn you’ve made іmрrоvеmеntѕ.
  4. Consider giving your tеnаntѕ ѕоmе ѕаfеtу guіdеlіnеѕ when thеу mоvе in.

Create House Rules And Enforce Them

Good tenants аrе gооd nеіghbоrѕ. In return, thеу want thе ѕаmе соnѕіdеrаtіоn. They wіll fоllоw thе rules you hаvе dеvеlореd fоr your rental рrореrtу, аѕ long as thеу аrе rеаѕоnаblе.

All оf уоur tеnаntѕ ѕhоuld rеаd аnd ѕіgn a сору of your rulеѕ whеn they execute the lеаѕе. Exрlаіn tо уоur tenants thаt thе rulеѕ wіll bе enforced. Consider еvісtіоn fоr ѕеrіоuѕ vіоlаtіоnѕ.

Get Professional Property Management Here

For professional property management in San Diego, Las Vegas or Phoenix contact GoldenWest Management 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.

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’s Happening with The San Diego Rental Market?

By GoldenWest Management

Are you interested in investing in the San Diego Rental Market? If so, you’ve come to the right place!

In this article, we will offer you up to date information regarding what’s happening in the SD Rental Market including accurate data and what we can expect for the rest of the year.

Average Rent

As of March 2018, the average rent for the San Diego rental market is $2,028, this is an increase of 3% compared to the same time last year when the average rent was just $1,963. (Source – Rentcafe.com)

San Diego, California

Rent Breakdown

Anyone who is searching for a rental property in the San Diego area can expect to pay the following rents:

  • Studio Apartment (455 Sq. Ft) – Average: $1,479 per month
  • One-bedroom apartment (671 Sq. Ft) – Average: $1,793 per month
  • Two-bedroom apartment (966 Sq. Ft) – Average: $2,190 per month
  • Three-bedroom apartment (1,294 Sq. Ft) – Average: $2,773 per month

Rent Increases Have Slowed – Slightly

There’s no doubt that rents in the San Diego area have been increasing steadily over the years but since the start of 2018, they have slowed, slightly.

This slowing could be due to more rentals coming to the market like the opening of the new “The Rey” apartment complex in San Diego. This complex has brought close to 500 new rentals to the market.

Located at 801 A Street in San Diego, The Rey apartments with high end designs, luxurious floor plans and lots of amenities. Learn more about this apartment complex by visiting their website at https://www.berkshirecommunities.com.

Slowing rent increases could also relate to the winter months. Either way, industry analysts don’t expect the rent growth slowdown to last for long as San Diego continues to rank among the top cities in the United States for rent growth.

San Diego, California

Most Expensive to Least Expensive Rents

As in years past, the most expensive place to rent in the area are Downtown San Diego (Average – $2,49 per month), North County (Average – $2,126 per month) while the least expensive place to rent in the San Diego area continues to be East County (Average – $1,418 per month).

Property Management concept image with business icons.

Get Property Management Here

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

Should A Landlord Accept Pets at Their Rental Property?

By GoldenWest Management

Although some landlords may have a no pet policy, the reality is that it’s a smart idea for landlords to accept pets at their rental properties.

Since we constantly hear about all of the problems animals cause for landlords, you may not be as familiar with the benefits of allowing your tenants to have pets. This article will provide you with several reasons why you should consider accepting pets and the long-term benefits they will offer you.

Expose Your Rental to A Wider Tenant pool

Thanks to recent statistics from apartments.com we know that 75% of renters in the United States have said that they have a pet, and roughly 60% of those renters have struggled to find a rental property that allows pets.

Every landlord should consider accepting pets at their rental property because doing so will widen their tenant pool and make it possible for them to expose their rental to more prospects who are searching for pet-friendly rental properties.

Increase Your Renewals

The vacancy rate is decreasing in cities like San Diego, Phoenix, and Las Vegas. This has made it harder than ever before for some renters to find rental properties and most tenants who have pets will be inclined to renew their leases rather than look elsewhere because they won’t want to go through the hassle of finding another pet-friendly rental again.

Increase Your Annual Income

Since most pet owners are committed to their pets it’s possible that you can also increase your annual income by renting to them when you charge a pet deposit and monthly pet rent of $20 per month which can easily add up to $240 per year.

Protect Your Rental Property

Last of all, but most important, renting to people who have pets will also help you to protect your rental property because you will know up front what type of pet is living in the home, compared to finding out later that the tenant had a pet after they moved out.

Best of all, if your tenant’s pet causes damages to the rental property, you will be able to use their pet deposit to cover the cost of repairs.

Get Property Management Here

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

Can You as A Landlord Pick the Tenant?

By GoldenWest Management

Are you planning on renting your San Diego Rental Property and are wondering if you as the landlord can pick the tenant?

The answer to this question is yes, of course, but only if you choose the tenant based on the results of their credit check and application criteria.

Preoccupied, worried young male worker staring at computer screen in his office

Set Criteria and Stick with It

One of the best ways to save yourself the time, money and hassle of choosing the wrong tenant is to set criteria for what you’re searching for in a tenant and then stick with it.

You should be searching for a tenant who meets the following criteria:

  • They must have verifiable income that’s at least two and a half times the amount of rent.
  • A credit score that’s over 600 (or better).
  • Must never have been evicted or gone to rent court.
  • The tenant should be at least 18 years of age.
  • Should be able to provide you with references for their last 2 landlords plus references for their current and last two employers.

Small group of young people at a business meeting in a cafe

Charge the Tenant an Application Fee

When getting ready to screen tenants for your San Diego Rental Property you should charge an application fee because this is the first “hurdle” that the tenant must get over and prove that they are serious about renting your property.

Once they’ve paid the fee you should then start the process of reviewing their references and determining if they would be the right tenant or not.

Before pulling a copy of their credit report make sure that they sign off on a separate document which authorizes you to view their reports and credit scores with the 3 major credit bureaus.

House for rent

Get Professional Property Management for Your San Diego Rental Property

To learn more tips for choosing the right tenant, or for professional property management for your San Diego Rental Property, contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.

How to Verify a Tenants Financial Stability

By GoldenWest Management

Finding great tenants is one thing, but how do you verify that those tenants are actually financially stable?

In this article, we will provide you with a list of documents you can request for verifying a potential tenant’s financial stability.

Request Copies Of Their Pay Stubs

All employer pay stubs will have a tenant’s pay begin and end date so you can easily figure out their income on a weekly, monthly, and annual basis.

After requesting copies of their pay stubs, you should also contact the employer personally and issue an employment verification request to confirm that the person who wants to rent your property actually still works there and continues to earn the income shown on their paycheck stubs.

New apartment building in suburban area

Ask for W2’s

Asking a prospective tenant to provide copies of their W2’s is especially helpful because it will show you how much income they have declared in the last year.

W2’s are also especially handy for verifying income if someone is self-employed.

Request Bank Statements

Besides asking for a prospective tenant’s paystubs, and W2’s, you should also be asking for their bank statements as well. They should be able to provide you with statements from at least the last two to three months.

File Form 4506 With the Internal Revenue Service

Another great way to verify a tenant’s financial stability is to file form 4506 with the IRS. This form will give you the ability to see a copy of a potential tenant’s tax returns if they are not able to provide you with a copy of their return themselves.

Young adults moving in new home

Run A Credit Check

Besides following all of the tips offered in this blog post, the last thing that you should do is run a credit check. This will give you the ability to learn a tenant’s credit score, amount of debt that they may have, and give you a good idea if they’ve been able to fulfill their financial obligations.

Get Property Management Here

Tired of managing your rental properties yourself? Contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us through our website.

What is involved in screening and approving a Tenant?

Do you own rental properties or are planning on investing in rentals for the first time?

One of the most complicated aspects of owning rental properties is screening and approving tenants because tenants are the “life blood” of every rental property since if the wrong tenants are chosen they can bring major headaches for the owner.

When the right tenants are chosen the owner can often expect 12 months or more of effortless renting to a tenant who pays their rent on time, abides by the rules, and maintains the rental property.

If you’ve been thinking about hiring a property management company to manage your rental properties here is the screening and approval process that we follow at GoldenWest Management.

Determining an Acceptable Credit Score

Did you know that nearly one in two landlords said the results of a credit check were among the top three factors that they used when deciding whether to accept a tenant’s lease application or not?

At GoldenWest Management we determine an applicant’s credit score or (scoring rubric) from data we receive from the National Association of Credit Reporting.

How much in verified income do we need to approve? How do we prove income?

2.5x – 3x rent, this information can be verified by viewing an applicant’s paystubs.

If an applicant doesn’t have pay stubs we will ask for their recent tax returns or bank statements.

Once the tenant has proven their income they must also show that they have at least six months of reserves (rent x 6 months), after accounting for security deposit and first month’s rent.

Rental history

Although having good credit is still important, at GoldenWest Management we also request a tenant’s rental history because, like a credit report, rental history also shows a tenant’s rental behavior including if they have a history of paying their bills on time.

What if the tenant owns a home? As with running a credit check and inquiring about a tenant’s rental history, we will also want to know if that tenant (homeowner) has a current mortgage as well since this is also a sign of financial stability.

Criminal History

With new HUD laws outlawing or simply refusing people due to their criminal records we must know specific and relevant information about their criminal history including if they are: still on probation, a sex offender, or if they are a violent offender since this information may affect the safety and security of other tenants in the building and neighbors in the area.

Get Professional 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.

What Are the Benefits of San Diego Property Management?

By GoldenWest Management

SAN DIEGO, CA. – Have you been managing your rental properties yourself and have been thinking about hiring a San Diego Property Management company?

Regardless if you own one or more rentals, hiring a property management company is important because it will free up your time so you will no longer have to manage those rentals yourself and you will also enjoy the following benefits:

Benefit #1 – Easy Rent Payment

Since most property management companies offer their tenants the ability to pay rent online you can expect easy rent payment from your tenants and you will no longer have to concern yourself with rent collection when your tenants fall behind on their rent.

Benefit #2 – Repairs & Maintenance

When it comes time for repairs or maintenance at your Rental Property you won’t have to plan for making those repairs or driving out to the rental to perform maintenance yourself, you can count on your property management company to handle those repairs or maintenance for you.

Benefit #3 – Thorough Inspection

Another benefit of hiring a San Diego Property Management company is a thorough inspection of your rental each time new tenants move in or move out. This will ensure that your rental property continues to be maintained to the highest possible standards and is in the best condition possible.

Benefit #4 – Tenant Selection

Last of all, but most important, another great reason to hire a property management company is tenant selection. We make screening and finding new tenants hassle free so you don’t have to worry about doing any of that work yourself.

Contact GoldenWest Management

To get started with speaking with the experienced team of San Diego Property Management professionals at GoldenWest Management contact us today by calling (858) 779-0577 or click here to connect with us online.

images

Tips for Getting Your San Diego Rental Ready for Summer

By GoldenWest Management

SAN DIEGO, CA – Summer is almost here and with warmer weather you should also be focusing on getting your rental property ready for the summer months by doing the following.

Inspect Your Air Conditioner

This step is essential because it’s possible that your air conditioner hasn’t been in use for close to one year so you should change your air filter, airflow inside your rental property and also your blower unit as well.

Once you’ve inspected your air conditioner you should also make sure that the unit has “room to breathe” outside your home by clearing space around the unit by removing grass, plants or debris.

Prepare Windows and Doors for Summer

Since your tenants may be using the air conditioner a lot during the summer months you should prepare doors and windows by making sure that their seals will still hold the cold air in your rental property and not easily escape.

Clean Your Dryer Vent

After checking your air conditioner, doors and windows you should also check your dryer vent to make sure that it’s completely free of dust or lint since obstructions in the dryer vent can easily lead to fires.

Test Smoke Detectors

Summer is also a great time to test the smoke detectors in your rental property as well to make sure they are working properly and don’t have batteries that need to be replaced.

Clean Ceiling Fans

Besides removing dust from ceiling fan blades, you should also vacuum dust from the ceiling fan motor because this will help it to continue functioning normally for the remainder of the year.

Clean Up Your Yard

Last of all, but most important, you should also clean up the yard at you San Diego rental property by planting new flowers (if needed), inspecting the sprinkler system and reviewing the yard to make sure that your current tenants are keeping up the curb appeal of your rental property.

Get Property Management Here

To learn more about our Property Manager in San Diego Service, contact us today by calling (858) 779-0577 or click here to connect with us online.