Should I Fix This: A Guide to How Property Managers Maintain Properties
Maintenance is an important and necessary part of maintaining a rental property. At home in your personal dwelling, you'll be well aware of a broken pipe or leaky window, but these things can easily go unnoticed in a rental property or multi-family housing unit. In addition, property owners must keep detailed records showing timely repairs and maintenance, unlike the work you perform at your own home.
What We Look for During Annual Property Evaluations in San Diego
The biggest headache in owning any property are the maintenance costs. It always seems like once you buy a home, everything starts to break. If you live in the Northeast, your pipes freeze and burst. If you live in Florida, your house floods or suffers hurricane damage. Luckily, living in sunny San Diego, you won’t have to worry about freezing pipes or hurricanes, however, don’t let the majestic scenery and idyllic beaches fool you. San Diego hosts plenty of natural hazards that can damage your residential property.
Doing it Yourself vs. Working with a San Diego Property Management Company
So, you are considering renting your property? Congratulations, you are on the first step toward a new journey of building durable wealth through rental income for your family and future generations. Now comes the age-old question, should you manage it on your own or hire a San Diego property management company? There are pros and cons to both options.
Property Management Questions: Do I have to fix that?
A resident with a disability evokes sympathy and compassion from all of us, whether we are fellow residents of an apartment building, landlords, or representatives of a professional property management company. We all recognize the blessings of strong bodies and five good senses. Where is the line drawn, though, on what a resident with a disability can or cannot expect as reasonable accommodations or reasonable modifications to a building?
How to Create the Best Leases for the San Diego Rental Market
You did it. You finally took the plunge and purchased a rental property. You probably carefully crafted a management and investment plan to ensure that your property secures a resident and starts generating passive income within a few months.
How to Attract Millennial Residents to Your Rental Property
As Millennials become increasingly important to the rental marketplace, many property owners find themselves scrambling to increase their appeal to the group. More so than their predecessors, Millennials prefer the flexibility of renting—which means they’ll be a dominant force in rentals for a long time to come. To make sure you’re equipped to appeal to this crucial market segment, we recommend you pay attention to these aspects of your rentals:
Property Management 101: Repairing or Replacing Flooring
Over the life of an investment property, flooring can be a minor or major maintenance issue and expense. Much of the time, it is minor. Sometimes it becomes a gray area.
Many times, you can prolong the necessity of replacement by using a reputable contractor to repair the areas in question or even possibly replace a damaged area if suitable materials are available. However, when the decision to repair or replace is cloudy, it may be a wiser choice to move on to replacement.
Property Investment Advice: Plan Winter Maintenance Early
Thinking about winter maintenance needs for your investment before the season hits can often save you money. An extra benefit is that it can help to keep your tenants happy. If you wait until the rains or winds come and the roof leaks, you will be competing with everyone else to have the work done because roofing contractors are at their busiest. This can mean major delays and higher costs.
When the weather is better, contractors may not charge as much because their workload is lighter and they want more work. Tenants can become unhappy with the inconvenience of a leaky roof but if the problem is severe enough, there can be loss of rent because of uninhabitable or unsafe conditions.
Fall Improvements: Top 10 Property Projects to Increase Your Value
Before you put your San Diego area rental property on the market, you may want to invest in a few renovations and remodeling projects. Doing so will not only help make your property more attractive to residents but will also help to increase the value of your property, which, in turn, will allow you to charge higher for the lease. The following are ten projects most San Diego property management companies will recommend in order to help increase your property's value:
5 Ways to Get More Money from Your San Diego Rental Property
One of the things that you should do before leasing your property is to sit down and determine how you can maximize your profit on that property. By having a little patience and doing a little bit of additional work, you may have the opportunity to make more money from your rental property over the long-term.