Why should I
hire you as my Property Management company?
How do you make
sure the tenant is taking good care of my home while
renting?
What do you do
if they are not taking care of my property as they should,
or you discover unauthorized pets?
What happens if
the tenant does not pay their rent?
How informed
will I be about what happens with my property?
How do you
handle maintenance requests?
Do you use the
cheapest maintenance people you can find?
Do you hold
some of my money for repairs? How much?
How do I know
your property manager won’t spend my money on large repairs
without my approval?
What if I want
you to use my plumber, A/C company, etc.?
When do you
mail the owner's checks and statements?
Does your
property management agreement give you exclusive right to
sell my property?
Who holds the
tenant's security deposit?
How much
security deposit do you charge the tenant?
How soon can
you start managing my home?
How much will
my house rent for?
Why should I
hire you as my Property Management company?
Peace of mind
knowing your property is in good hands.
We know the
importance of keeping your investment profitable. We can keep your asset an
asset, and prevent it from becoming a liability. In
addition, with our experience in finance, we can teach you
ways to leverage your investment to help you meet your
future financial goals.
We can also help you to avoid
potential liabilities of improper / illegal leasing
practices.
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How do you make
sure the tenant is taking good care of my home while
renting?
There are
several ways your property manager has to know this. Above
all, careful tenant selection from the outset protects your
property from being rented to irresponsible people. During
the lease term, we may have occasion to enter the property
for repair or maintenance reasons and will use that
opportunity to have a look. If we are fortunate enough not
to have any repairs or maintenance at your property over an
extended period of time, your property manager will schedule
a preventative maintenance walk-through to make sure the
property is being maintained, that the smoke alarms have
batteries and that there are no unreported problems at the
property.
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What do you do
if they are not taking care of my property as they should,
or you discover unauthorized pets?
We give the tenant an opportunity to correct
the situation and usually they will. If a problem persists,
we will make a decision based on the circumstances.
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What happens if
the tenant does not pay their rent?
About the
4th of each month, we send late notices to all tenants with
unpaid rent. We will post an eviction notice about the 12th
day of the month (or earlier if this has been an ongoing
problem or owner requests different) if payment is not
received by then. Whether or not we eventually have to
proceed with a formal eviction depends on the specific
circumstances. It is always financially better for all
involved if a solution can be worked out. If the tenant has
experienced a one-time event which is causing them a
financial hardship, and we have had no previous problems
with them, it is better for you and the tenant if we give
them a chance to catch up - if there is reason to believe
they can do so. If the tenant has demonstrated an ongoing
pattern of late payments, broken promises about payments
and/or evasiveness, we know from experience that eviction is
the best course of action. Each case is unique and the
property manager will make a decision based what is best for
you and your home in the long run. That said, we always
proceed with the legal notices required for eviction
regardless of any other factors. We will simply postpone the
actual filing of the eviction if the tenant is showing
favorable effort toward resolution. Eviction for non-payment
of rent in California is a slam dunk and there is no way a
tenant can prevail in court if they have not paid rent and
the landlord has properly executed the notices and filing
process. Full evictions, when necessary, can often be
completed by the fourth or fifth week after the process
starts. However it may take longer depending on the court or
the appeals process.
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How informed
will I be about what happens with my property?
Absent
any special considerations unique to you or your property,
our rule of thumb is this: If something may cause a
potential interruption in your ordinary cash flow (loss of
tenant or non-emergency repair in excess of $500), we will
let you know about it right away. Other than that, the
saying "no news is good news" is most appropriate. Non
emergency items will be communicated along with your monthly
statements and, of course, we encourage you to contact us anytime you have a question or wish to
discuss something.
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How do you
handle maintenance requests?
Tenants
may fax, email, or call in their requests to us, but most
fill out an online form on our website. After we receive a
repair request, we may contact the tenant and ask them
questions which will help us determine the exact nature of
the problem before sending a service technician. We also
make sure it is not something the tenant can fix themselves
(example: reset button on the disposal, tripped breaker)
before your money is spent on a service call. After
determining that it is a legitimate problem, we will send
the appropriate service vendor to make the repair. We tell
our tenants that we are able to handle most repair requests
within 1 to 2 working days, and in fact are usually able to
do so. Comfort items such as Air conditioning, no hot water
or heat, receive highest priority and are usually attended
to the same or next business day.
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Do you use the
cheapest maintenance people you can find?
No. Our
people are middle of the road in price and are competent and
reliable. We also have access to dedicated all-around
maintenance sub-contractors who are capable in a wide range
of home repairs including air-conditioning, light plumbing
and electrical. We try to have our main guys handle most of
the multi-trade and make-ready tasks and use other vendors
when we are backed up. This saves our owners a lot of money
on multi-trade repairs by cutting down on the number of
service calls to the property by different vendors. It also
means that if we are called out on a dishwasher repair, we
are going to be checking the a/c filter, sink drains, smoke
alarms and general condition of the property - something
that a single trade vendor will not do for you. We think we
have developed a very sensible approach to handling
maintenance and repairs and that you will realize cost
savings that other property managers simply can't or won't
deliver.
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Do you hold
some of my money for repairs? How much?
We will
hold back $500 per unit in your account so that we always
have funds to pay our vendors quickly.
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How do I know
your property manager won’t spend my money on large repairs
without my approval?
This is a
legitimate fear. We promise in writing not to do that. For
ordinary maintenance and repairs of less than $500, we take
care of it without notifying you. You will find out when you
receive your monthly statement. If we think a repair might
exceed $500, we will call you and let you know what is
happening, what we think should be done, and what the
estimated cost might be. Sometimes expenses such as a
replacing a bad water heater, a roof leak that needs
patching or repair, or emergency A/C and furnace repairs are
unavoidable. In those cases where 1) the health or safety of
a tenant is an issue, or 2) in instances where there is only
one option to consider or 3) the property will incur damage
if immediate action is not taken, the property manager will
initiate the repair work, even if it is higher that the $500
limit, and then let you know of the situation and what we
are doing about it. Mainly, we don't think important repairs
should be delayed while we try to contact you for permission
to do the obvious.
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What if I want
you to use my plumber, A/C company, etc.?
No
problem just remember you selected them and we cannot be
held responsible for their performance. Our professional
reputation as property managers, both with tenants and
owners, is largely, if not almost entirely, determined by
the effectiveness with which we handle maintenance. We
follow a practice that is most likely to insure the best
possible response and resolution to maintenance and repair
problems for your property. Simply stated we suggest letting
us handle what we do best and work with those who know how
we work.
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When do you
mail the owner's checks and statements?
Owners
checks are mailed out on or after the 8th (Assuming Check
Clears) of each month but no later than the 12th for that
month's activity. Most months, you will have your check and
statement in hand by the 12th.
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Does your
property management agreement give you exclusive right to
sell my property?
No. We
can sell your property if you would like us to, but we don't
bind you to that in the management agreement. This is
another trick that discount property managers use. They
manage your home at little or no profit knowing they have
you locked into an eventual sales listing. We think, at the
time you decide to eventually sell, you should be free to
decide who the best listing agent will be for your property.
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Who holds the
tenant's security deposit?
All
security deposits must be held in our trust account.
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How much
security deposit do you charge the tenant?
As a
general rule of thumb we usually require a deposit equal to
one month's rent for the deposit. This is what will be asked
for by most property owners and property managers
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How soon can
you start managing my home?
We can
start the process immediately. We will start by obtaining
some information about you and your property and helping you
prepare the property. Contact us
online or call 714-421-1499
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How much will
my house rent for?
We are
asked this question more than any other by new owner
prospects. Sales
values raced past rent values in the last few years. Many
owners who have purchased in the past 6 years, and made a
small down payment, cannot lease the home for an amount that
will cover the carrying costs - especially in newer
neighborhoods that are not yet built out. You also might not
have enough equity to sell without bringing money to the
closing table. If you are in this situation, you are not
alone. Some of our new clients are "involuntary landlords",
forced into leasing their home by market conditions. The
good news is, if you can ride out the market, you are likely
to be much better off in a few years than if you sell your
home now at a deeply discounted price. . The most important
thing to know is that the rental market is indifferent to
your mortgage payment amount. The rental market does not
care that you might have a negative cash flow, and will
punish extended vacancy owners who overprice their
rental homes. When you hire us as your property manager, we
will look at the rental market in your particular area,
survey the competing homes, and make sure your home is
priced so that it will be viewed favorably against the
competition.
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