SAN DIEGO, CA. – Landlords in California are facing more challenges than ever before including Assembly Bill 2343 which will essentially reward renters who have failed to pay their rents by delaying the unlawful detainer process by up to 3 weeks.
Assembly Bill 2343 – What Does This Mean for Owners?
Right now, the law in California states that tenants have 3 days to pay or quit if they’ve failed to pay their rent.
If AB 2343 were to be passed, that 3-day period would be extended to 10 days and a tenant’s time to answer an unlawful detainer would been increased from a period of 5 days to 14 days.
Assembly Bill 2343 will provide rent defaulting tenants with rent fee housing for additional weeks at the expense of the owner who will be forced to continue covering all of their normal expenses while the tenant lives in the property rent free.
This bill is due to be voted on May 31st, 2018. We will keep you updated if it’s passed or not.
Rent Control Is Headed for The November 2018 Ballot
There’s no doubt that rent control has been one of the hottest topics in California this year and even though some cities (Los Angeles, Santa Monica, and West Hollywood) have rent control laws, if Costa Hawkins were to be repealed we could see widespread rent control across the state.
What is Costa Hawkins? It’s a 1995 policy that protects an owner right to raise the rent once a tenant moves out.
Repealing Costa Hawkins would mean that anyone who owns rental property in California would not be able to get the fair market rent for their rental property
Will Costa Hawkins be repealed? Right now, the frustration over rising rents is the greatest we’ve ever seen and may result in a Costa Hawkins repeal.
The controversy surrounding rent control in California has caused many owners and investors to start selling off their California properties before the November 2018 vote.
Get Property Management in San Diego
Do you need property management for your San Diego rental property? If so, contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.
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.
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.
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.
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.
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.
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.
Are you planning on hiring a property manager to professionally manage your San Diego, Phoenix, or Las Vegas rental property? If so, there’s no denying that choosing a property manager can sometimes be an intimating process, especially if you’ve been managing those rental properties yourself, but thankfully you can hire a property management company with confidence if you ask them the following questions.
Question #1 – What Services Do You Offer?
This question is important to ask because you want to know that your property management company offers “full services” including rent collection, tenant screening, customer service, maintenance, and rental property marketing instead of just offering you one service.
Question #2 – How Many Properties Do You Manage?
Their answer to this question is also vital for you when choosing a property management company because if they are managing only a few rentals, this could be a sign that they are a newer company and don’t have the experience to professionally manage your rental property.
If they have too many rentals, this could be a sign that they might not have the staff to efficiently manage your properties and you should use caution before hiring them since you want to have confidence that they will have the staff to professionally manage one or all of your rental properties.
Question #3 – How Will You Determine the Correct Rent Amount for My Property?
Once you have confidence in their ability to manage your rental property you will next want to find out how they will determine the correct rent amount for your property.
Instead of hiring a property manager that suggests the highest rent possible for your rental property, you should choose a company that will do a comparable market of available rentals and properties that are currently on/off the market to determine the correct rent for your rental property.
Question #4 – Are You an Active Investor in The Local Real Estate Market?
Regardless if your rental property is located in San Diego, Las Vegas, or Phoenix, you also want to hire a property management company who has local market experts that are actively investing in the local Real Estate market. This will show you, their knowledge of the local market because they are invested in it themselves, and this means they will also offer you the best advice and service based on their professional experience.
Question #5 – What Are Your Management Fees and Or Pricing Options?
Last of all, but most important, don’t hesitate to ask them about their management fees and pricing options because the last thing you want to do is to choose a property management company that you like only to have the relationship ruined later on due to their excessive or hidden fees.
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.
Do you own rental properties in San Diego, Phoenix or Las Vegas? If so, you’ve come to the right place!
During a recent appearance on Real Talk Carmel Valley, both Yuri Jacobo and Jayson Yoss of GoldenWest Management were interviewed. They shared tips on why property management is important and discussed how professional property management can help both owners and tenants.
“Rent It Like You Mean It”
The show started out with both Yuri and Jayson talking about the GoldenWest Management mantra “rent it like you mean it”.
This strict philosophy means that GoldenWest Management team isn’t a Real Estate agency that also does property management on the side, “We are licensed agents who focus specifically on property management.”
We professionally manage more than 1,000 rental properties in three states, staffed with local-market experts; but what does this mean to you if you’re an owner?
You can count on us to be experts in the local rental market, including landlord tenant laws, while also keeping our fiduciary responsibility to you- the owner.
At GoldenWest Management we like to think of ourselves as communicators and “problem solvers” who always has your best interests at heart. “In property management, we get to be part of the most important aspect of someone’s life.” “We tell people, ‘If you entrust us with your property, we are going to take care of you, because this is personal.”
Property management is important, especially when things don’t go well at a rental property because, instead of you having to do everything yourself, you can count on us to solve problems and help with complicated issues including the following:
Security Deposit Return
This is by far one of the top property management issues that both owners and tenants have to deal with at move out. At GoldenWest Management we make sure that the rental properties we manage are professionally cleaned and in “move-in ready “condition. The property is thoroughly documented so that when the tenant moves out there won’t be any dispute regarding the security deposit return disposition statement including how or why the funds were used.
Wear and Tear – With any rental property there must be a “threshold” for wear and tear, we encourage tenants to have their rentals professionally cleaned, and they should be able to provide receipts showing that they did their due diligence to leave the rental in similar condition or comparable to what it was at move in.
21 Days – As a professional property management company we have 21 days to return the security deposit to the tenant in the state of California. All deposits are returned with an itemized list of deductions and pictures of the damage just so the tenant is aware of why money was taken from their security deposit and what it was used for.
Following California Habitability Standards
There’s no doubt that California is one of the top states with the most laws that protect the interests of the tenant but what are California Habitability standards?
California Civil Code section 1941 states that when a landlord rents property to a tenant as a place to live, the property must be in a “habitable” condition. (“Habitable” means fit to live in; “uninhabitable” means not fit to live in.) Section 1941 also states that the landlord must repair problems that make the property uninhabitable – except for problems caused by the tenant or the tenant’s guests, children or pets. In order for the property to be habitable, it must have all of the following:
Anytime there is an issue at one the properties we manage, tenants are encouraged to submit their repair requests immediately, they can count on us to get the problem fixed or resolved within 24-48 hours or make a “good faith effort” to make repairs and keep the rental property in habitable condition in accordance with state law.
This is another area where we save you time and money because instead of you driving out to your rental property to make repairs yourself, or spending hours on the phone coordinating with contractors and repair companies, you can count on GoldenWest Management to save you time while you have confidence that the repairs to your rental are made quickly and professionally.
Learn More About GoldenWest Management
To learn more about GoldenWest Management or to speak with us about our property management services contact us today by calling (866) 545-5303 or click here to connect with us online.
Vacancy – it’s one of the dreaded words in the property management and rental property world because it generally means unless you paid cash for your rental, you most likely financed it and will have to pay the mortgage while your property is sitting vacant.
No owner likes to have their rental property sit vacant because this also means that the longer the rental doesn’t have anyone living in it, the rental property isn’t generating any cash flow.
How Long Is Too Long for A Rental to Sit Vacant?
Testing the Market is great…but after 2-3 weeks, you may want to rethink your leasing plan.
The reality with owning rental properties is that the longer they sit vacant, a wide variety of problems can occur including the following:
Crime – The vacant rental property can become the target of vandals and criminals in the area including people who might be planning on trespassing and living on the property illegally.
Drain on Cash Flow – Let’s face it, one vacancy does equal a drain on cash flow regardless of the owner’s portfolio so it’s in the owner’s best interest to get that rental occupied as soon as possible.
Vacant Properties Can Become Eyesores – Weeds grow, dust and dirt accumulate, trash and debris take up residence in the front and backyard. Vacant properties become eyesores especially if they are not maintained while they are sitting for weeks and months at a time.
Bad Decisions – The longer a rental sits, the more Landlords are willing to lower the bar and “stretch” to accept a tenant that may not be qualified to rent their home. It’s just the nature of the beast that we would be enticed by someone who is borderline but can stop the loss of income.
Tips to Follow While a Rental Sits Vacant
Every owner wants to fill vacancies fast because they want vacancies to end, yesterday, but the thing to remember during the vacancy is that the following tips should be followed to ensure that the rental is ready to be occupied by the next tenant as soon as a suitable candidate is found.
Tip #1 – Price the property appropriately. At GoldenWest we recommend being “Conservative” with the price. The market doesn’t care about your mortgage, it is simply a supply and demand equation that sets the rental price point. List on the conservative side to get quality applicants, quickly and reduce the potential for headaches, vandals, cash flow loss, etc…
Tip #2 – Use timers to make lights come on in the rental during the evening – Once again, this tip will help a vacant rental to look “lived in” and discourage criminals from hitting a vacant rental at night.
Tip #3 – Enlist neighbors for help – If you’re managing the rental yourself, you shouldn’t hesitate to ask neighbors in the area to keep an eye on your vacant rental, watching for suspicious activity, until it’s occupied.
Tip #4 – Decide whether “For Rent” signs and flyers will help to rent the home or may only make the home a “target.”
Stop Dealing with Vacant Rentals – Get Property Management Today
Tired of dealing with vacant rentals yourself? For professional property management contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.
SAN DIEGO, CA – If you’re managing your San Diego rental property yourself, you most likely will be using Craigslist.org to list your property online and connect with new tenants but did you know that Craiglist is also one of the easiest ways for scammers to steal money from unsuspecting landlords and their prospective tenants?
Craigslist Rental Scams Revealed
Thanks to the Internet it’s never been easier for scammers to steal thousands of dollars from their victims every year and Craigslist is one of their favorite websites to use because with Craigslist.org a scammer anywhere in the world, even in Nigeria.
All a scammer has to do is use a VPN to mask their IP address and Craigslist will think that they are in the United States than when they combine that with a web-based email address like Gmail, it gets even harder for a scammers identity to be revealed, or for them to be found.
How Do San Diego Craigslist Rental Scams Work?
When it comes time for you to market your rental property online you’re going to probably take lots of photos to post on Craigslist.org along with writing a great description about your listing right?
Basically, a scammer copies the photos, basic verbiage and post the home on craigslist for a well below market price. Then they simply attach an untraceable phone number (think google voice) and generic email and they fish for potential targets.
Their targets include People who are in a situation where they need a home fast and are not very experienced with renting. These unfortunate prospects will make the mistake of believing the “story” they are being spun and will end up wiring money or worse giving personal information (social security, birthdate, driver’s license).
The Scammers Succeed with Telling A “Story”
Sadly, people looking for rental properties on San Diego Craigslist get scammed every day because they will believe the scammer’s story which often will include something like:
They are on a missionary trip out of the country.
They had to move out of state at the last minute due to job transfer.
A scammer will typically talk with their victim via email and encourage them to visit the property, even peek in the windows, then email them back and let the scammer know if they are interested in renting the property or not.
Why Landlords / DIY Owners Get Scammed on Craigslist
Here is what we see from your general do it yourself landlord and how their property is scammed:
Homeowners don’t use watermarks on their photos like professional companies, therefore the pictures they post are easily duplicated and posted online.
This also applies to professional signage, flyers, etc.…Prospects directed to by the home or peek in the window don’t see any red flags to cause them to think that the scammer is not the homeowner.
Homeowners tend to use craigslist exclusively – and you guessed it, that is the #1 place we find scams. Craigslist also syndicates to hot pads and pad mapper so eventually, just a few well placed “scam” ads can supplant the real advertisement throughout the internet.
Can the Authorities Do Anything to Stop Craigslist Scammers?
One of the sad things about Craigslist scams is that the authorities are literally powerless to stop scammers because, proxy servers and VPN networks like www.hidemyass.com make it easy for anyone, anywhere in the world to mask their identity and real location.
Anytime a victim reaches out to the authorities or media their efforts are almost always met with zero results with bringing the scammer to justice because the scammer can always shut down their fake identity or email account and start over with another online identity.
What should a landlord/owner do to avoid getting scammed?
Try changing photos and post a sign outside their home with flyers that lists the correct contact info and price, but the reality is that hiring a professional property management company is the best defense, especially for these reasons:
A professional will use watermarks and embedded HTML listings…prospects will be able to discern that these are legitimate postings.
Search engine power. Professional companies like GWM often are recognized by Zillow, Trulia, and other syndication partners throughout the internet. This means when there is conflicting home data, the syndication sites will opt for the more trusted partner: Scammers ads fall by the wayside while pro postings remain.
Pro companies also have a database of prospects already…they aren’t stuck to craigslist and maybe a $30 rentals.com ad.
Professional signage and flyers – When a prospect drives by, they see the sign out front and they call the number…this alerts them that the ad they saw is a scam and that helps shut it down quickly. Scammers don’t want to waste time on properties that are not going to bear fruit, so they will give up on the pro managed home and move on to the easier self-managed properties.
Professional showings – having a dedicated and licensed agent to show prospects allows peace of mind for both the homeowner and the renter prospect. In addition, a professional application, usually online thru a secured system, gives a potential Tenant the confidence to apply without having to worry about their information being hijacked.
Scamming is a big issue that affects both homeowner and renter. Without a professional company advertising and representing your interest, Landlords may have difficulty procuring “A” rated Tenants. And with the rise of these types of scams, renters are being more cautious about pulling the trigger on a home that they believe may be “too good to be true.” That will have a dramatic effect on the do it yourself Landlord who is trying to cover their mortgage.
Don’t wait until it’s too late, call a property manager who can protect your investment.
One of the biggest disappointments a tenant will face in a rental property transaction with a property manager or landlord is when he or she opens up that check for their returned security deposit. We’ve seen and heard about many times where tenants were not happy with the return. This is unfortunate because, as we’ve stated in previous articles about security deposits, losing a security deposit is completely preventable. Disappointment over security deposits is typically a result of the following: Continue reading “How to Get Your Security Deposit Back on a Rental”
Today is Columbus Day. Depending on where you work, you may or may not have the day off. The stock markets are open (although bond markets are closed), and many employees of the government will not be working. However, our offices at GoldenWest Management will be open to respond to your questions and issues. Continue reading “Happy Columbus Day from GWM”
As a property management blog, we have found that some of our most popular posts are those that answer challenging property management questions. Over the past year or so, we’ve tried to identify those questions ahead of time, and write about them as much as possible. For example, we’ve written about squatter’s rights, the grace period for rent due dates, and security deposit recovery to name just a few. However, we would now like to open up the floor to our audience for questions. Have a landlord, tenant, or property investment question for our property management experts in California, Arizona, and Nevada? Continue reading “Ask Your Property Management Question”
Property management is a challenging business where the property manager serves two different sets of customers with conflicting needs. As a marketer for a multi-state property manager, I have witnessed the razor-sharp line that a property manager has to walk in his place between the tenant and the landlord. At times, it can sometimes seem impossible to stay the course of this line, and I’ll share my insight into why that is.
The business of property management is one where the landlord compensates the property manager to relieve them of the burden of owning investment property (a.k.a, managing tenants). The late night phone calls with repair requests, the destruction to property, the late payments, not to mention the screening of and securing decent tenants – these are all part of the burden that the property manager bears. The owner, usually, doesn’t want to deal with the tenants, fixing up the property, or worry about collecting money. Usually, the property owner wants to make his investment by purchasing the property, and then simply collect checks by handing over the property to the property management company. In other words, they don’t want to do the “dirty work”. Despite this unenvious position, the property manager must do the bidding of the owner in order to get paid. If the owner feels that the service is not up to his standards, he can take his business to the next property manager in the area as switching costs are typically not that high. Continue reading “Why You Hate Your Property Manager (and Why You Might Be Wrong to Do So)”