How to Work with Auburn Property Management Teams

Making the decision to self manage a rental property can be the right decision for a lot of property owners. Whether you started out hiring an Auburn property management team or are considering making the change from self managing to hiring it out, the majority of investment property owners have seen a lot of success with hiring professionals. Property owners often underestimate the daily tasks and time that goes into managing a rental property. Everything from getting the property rent ready, to researching the rent rate, advertising, leasing the property, handling and scheduling maintenance, the financials, rent collection, evictions, and much more can be daunting and take more time than you bargained for. If you are considering making the switch from self managing to hiring it out, the experts at RPM Select have a few shopping pointers to make certain you hire the right company for your property.

Choosing the Right Auburn Property Management Company

Shopping around for a property manager is like shopping for a nanny to care for your children. It is imperative that you do your research, conduct interviews and ask the right questions, and look out for a good or bad track record. Consider looking for the following characteristics when shopping for a manager:

  • Clear Expectations and Pricing: Know what is your responsibility and what is the management company’s responsibility. What you can expect from your manager should be clearly stated in your service agreement. Property management in Auburn should have a simple and clear pricing structure. Hidden fees are not acceptable. Ask what the standard property management fees are and how pricing and payment works when maintenance is required. Ask all of your pricing and expectation questions up front. It is better to be safe than sorry.
  • Transparent Communication: Possibly the most important thing to look for when shopping and working with Auburn property management companies is ask how they communicate with their clients. The best property managers communicate with their clients and tenants clearly and often. Just like you would converse with the nanny at the end of the day regarding your baby, think of your investment property as your baby. Investors need to know what is going on at their property, whether it is in the turnover stage, leasing stage, or occupancy stage, there is always room and time for communication on both ends of the service agreement. We are not recommending you call your management team daily, but we do suggest that communication happens as often as makes you comfortable.
  • High Standards: Look for a company with high standards, ethics, honesty, proper certifications, training, experience, and legal counsel when shopping for your experts of property management in Auburn. Companies who take the time to learn and attend seminars to stay informed on laws and amendments can protect their clients from lawsuits. Property managers also handle finances including security deposits, application fees, and rent collection. Knowing you can trust a professional property management team will put your mind at ease and those rent checks coming in routinely.
  • Good Reviews: Just like shopping for a nanny, you want someone with a good track record, who comes highly recommended from past employers. Check star ratings online and discussion boards or comments to discover what past and current clients have to say about the Auburn property management company you are interested in hiring. Once again, better safe than sorry.

How Select Keeps Property Owners Happy

At Select, we put the success of your investment property as our highest priority. We know that if your property fails to succeed, so do we. We feel that pressure and work tirelessly to prove why those seeking property management in Auburn choose us. When investors sign a terms of service agreement with Select, they can sit back with confidence knowing we handle everything for them, including:

  • Turning over a property upon vacancy
  • Scheduling all vendors and maintenance during occupied times
  • Doing market research to make certain you get top dollar for rent
  • Marketing your property across dozens of the top used websites that potential renters use
  • Conducting professional and ethical showings of the property and renting properties more quickly than our competitors
  • Handling our rigorous application screening process
  • Executing lease agreement signings and making sure tenants understand what is expected of them
  • Collecting rent and enforcing the eviction process if needed
  • And enforcing lease agreement rules while occupied

How Select Communicates

If you thought the list above was long, it gets longer. We still make it our priority to send our clients weekly leasing updates, offer 24 hour live support, and give our clients online access to their owner portal on our website. Auburn property management cannot get better than this. Weekly leasing updates consist of information regarding who has viewed your property, how many showings you have had, and our follow up conversations with these potential renters. Our 24 hour live support is just one phone call away. No one likes having to wait on hold for minutes on end, or even worse, talk to a recording. Select knows that offering our clients the opportunity to speak live with a real person is the most efficient way to conduct business and keep clients happy. And if that isn’t enough for you, we offer access to our online owner portal, which allows clients to view financial records and transactions, maintenance that has been conducted on the property, rental payment history, and more from the convenience of their own living room.

Give Select the chance to wow you. Call us today.

Avoid Negative Tenant-Landlord Interactions

“Be friendly, but not friends,” is just part of the advice Folsom property management firms give to new landlords who enter the real estate investing industry. It can be a fine line, but maintaining professionalism and upholding lease agreement rules while still being kind and respectful is crucial to having a successful tenant-landlord relationship. Another way to look at it is “The Golden Rule of Property Management in Folsom.” Treat your tenants the way you would want to be treated. The experts at RPM Select are providing landlords with the following recipe to help them establish successful relationships and avoid negative tenant interactions. Mix in just the right amount of these tips, and you are sure to have positive and respectful communications with your tenants.

Don’t Make it Personal

A house is just a house until you make it your home. Whether you intended all along to transition it into a rental property or if life threw you a curveball and forced you into it, you are now making the decision to rent out your home. Either way, memories were made in that home, time and hard work were executed there, and you now find yourself with emotional ties to a piece of real estate. Folsom property management teams see this love and emotion from landlords to their homes often. Unfortunately, it does not serve them well. As soon as a property is transferred from personal use into a business investment, it must be treated like a business. When emotions are mixed in to a business deal, it is a recipe for disaster. No tenant is going to have the emotional attachment to your property like you do. After all, they are renters. They are temporary. Each month that they pay you rent, they are throwing their money away. You gain equity, but they gain nothing. See the property as emotionally-removed as possible and treat it as a business.

Be Realistic

Setting realistic expectations for your tenants and mixing it with emotionally-removing yourself will prove to give you success as you navigate property management in Folsom. Remember when we said a house is just a house until you make it your home? These temporary renters will only make it their home if they intend to stay there at least one year. They may not give the property the TLC that you gave it in years past, and that is okay. This is one of the purposes of the lease agreement. Be clear with your wording in your lease agreement so that tenants understand what is their responsibility and what is yours. Landscape care, shoveling of a snowy driveway, changing a light bulb, or unclogging a clogged toilet are just a few of the gray areas that tenants have reported to Folsom property management firms.

Show You Care

When a phone call, email, text, or knock at your door arrive from your tenant, respond and take action quickly. All maintenance requests should be responded and attended to within 24 hours of first hearing of the problem. Maintenance emergencies should receive priority and get immediate attention. Even when the phone rings at 5:30 PM on Friday night just as you are heading out for a fun-filled night of activities, answer the call. It may be a minor maintenance request that can wait until Monday morning, like a blind slat falling off, or it may be a maintenance emergency of a pipe bursting. If maintenance is ignored, you open up a can of worms. Some of the percussions you can expect include an angry tenant, a tenant who stops reporting maintenance because they see that you don’t take action, difficulty collecting rent, higher maintenance costs because problems that go ignored often get bigger and worse, and high tenant turnover rates. Show that you care and your attentiveness will go a long way.

Document, Document, Document

Property management in Folsom is a fast-paced business. Depending on how many properties you are juggling, you may have multiple tenant interactions daily, making it difficult to remember who needs what and what was said. One of the most important tasks landlords will do while managing is to document. Document maintenance requests, conversations, emails, phone calls, texts, and even observations that you notice while conducting property inspections. Doing so will protect you in case a tenant ever tries to take you to court. Document how you responded to maintenance requests with time stamps, what was said between the two parties, and any lease agreement violations that you notice like occupancy or pet violations during routine inspections. If you do notice lease violations, address them promptly in writing.  

Why You Need Folsom Property Management Team, Select

At Select, we follow the Golden Rule and can prove that our recipe for successful tenant-landlord interactions always reap the best results. But if baking is not your forte, we invite you to step out of the kitchen and let Select take control for you. Our experts have more than 35 years of experience in keeping tenants happy and long term. Call us today.

How to Select Rental Properties in the Elk Grove Property Management Market

Are you looking to purchase your first or second investment property? If you already have at least one, you probably have an idea of what makes for a good investment property. If you are a first time investment property buyer, the professionals at Elk Grove property management team, RPM Select, know a thing or two about what makes a home desirable for renters. With almost 35 years of experience, you can trust what we have to say when it comes to attracting the right tenant with the right property.

Location, Location, Location

When a tenant makes their criteria for finding a rental property, the first thing they determine is location. Location is often determined by proximity to their workplace. Purchasing a rental home in a desirable location can be a game changer for property managers. Elk Grove is a sought after community in the Sacramento area, providing residents with everything they need to succeed in life. Purchasing a rental property in Elk Grove provides residents with close proximity to work, access for easy and quick transportation, restaurants, shopping, quality schools, beautiful landscape, and safety. Search for a home that is located in a quiet and safe neighborhood, away from busy streets, and near clean parks.

Elk Grove Property Management House Requirements

Searching for a rental property often starts online. Prospective tenants look at popular sites like Craigslist, Zillow, Rent.com, and Trulia, just to name a few. These sites allow landlords to post photos of their properties, which immediately give them the chance to hook someone’s interest. Property management in Elk Grove is competitive, so pick the best picture of your rental property, and use it as your featured image, or the image that shows up first on the listing. This picture is often of the exterior of the house, highlighting its curb appeal, or of the kitchen. When purchasing an investment property, search for homes that offer at least 3 bedrooms, 2 bathrooms, a fenced in yard, an open floor plan, and one that is no older than 15 years unless renovations have taken place or you intend to renovate and bring it up to date in appearances. A house with a two car garage is also desirable. All of these factors will determine a person’s decision to rent. Select recommends single family homes over condos and apartments because a single family home is more likely to offer these housing requirements. A 3 bedroom, 2 bathroom home will be attractive to families who intend to plant roots for a couple of years, giving you a long term tenant. Single family homes also provide property owners the opportunity for a better return on investment.

Things to Avoid in Housing

From so many years of experience, Elk Grove property managers have discovered that the following houses are difficult to rent and these characteristics in a house should be avoided:

  • Less than 1,000 square feet
  • Without a yard
  • Located on a busy street
  • More than 25 years old
  • Houses that fail to offer an obvious master bedroom. If all the rooms appear to be so similar in size that it is difficult to determine which is the master, keep looking.
  • Quirky or dysfunctional layouts

If a house that you are considering buying as a rental property falls into any of the above categories, do yourself a favor and keep looking. Though it may take longer now, your vacancy times in the future will be reduced if you avoid these features. Of course a few of these mentioned characteristics can be fixed, but do your research on pricing to fix these items if you choose to move forward with the property. Sometimes the price is simply too high to make it worth the fix.

Self Management or Professional Management?

It is a common misconception that investment property owners can save themselves money by doing their own property management. Elk Grove management experts have found that the most common reasons landlords hire professional property managers are:

  • Setting accurate rental rates
  • Rent collection and deposit handling
  • Marketing the property
  • Rigorous Tenant screening
  • Management of tenants
  • Scheduling maintenance and vendor credibility
  • Resting easy knowing you are in compliance with all laws
  • Capitalizing on your time and money

Private landlords either bring so much stress and anxiety upon themselves or fail to adhere to housing laws that it is either not worth the savings or it ends up costing them more to self-manage due to legal issues. With so many federal, state, and local housing laws, it feels nearly impossible to landlords to educate themselves fully. Maintenance requests and trying to do-it-yourself jobs cause added stress and anxiety. Landlords must also provide around-the-clock availability and service to tenants in case of maintenance emergencies. These are just a few of the most common stresses and burdens that landlords feel. Eliminate these pitfalls and reduce your stress level by calling Select today. Discover how we handle the Elk Grove property management tasks while still having the shortest vacancy rates when compared to our competition and find high quality tenants for our clients. Call us today.

Get Cost Effective Maintenance with Property Management

“I have a maintenance request…” are some of the most dreaded words heard by a property manager. It does not have to be this way. Sacramento property management company, RPM Select, wants to change the effect this sentence has on investment property owners. For unprepared property owners, these words cause stress and anxiety. For prepared ones, they are merely words that cause you to take some action and probably take a little bit of money from your maintenance savings account. Something all investment property owners should have. To make sure that you feel like a prepared property owner for maintenance, here are some tip from the professionals at Select.

Establish a Maintenance Budget

You have heard the Scout’s motto, “Be Prepared,” and it is a good rule of thumb that property management companies in Sacramento follow. Select recommends that property owners set aside one-to-two months of rent to account for annual maintenance costs. Another way to look at it is to set aside one percent of the value of the property for annual maintenance costs. If your property value is $300,000, set aside $3,000 for your yearly maintenance budget. Keep in mind that you may not use all of this but it is better to be safe than sorry. When establishing your annual maintenance budget, consider what appliance are old and new, what will likely need repairs or replacing this year, or any upgrades you intend to complete.

Sacramento Property Management Companies are Proactive

Nothing hits you with regret like a small maintenance request that went ignored and ultimately turned into a big maintenance request with high price tags attached to it. To avoid this from happening to you, respond promptly and immediately when maintenance requests are submitted. It is easy for property owners to adopt an “out of sight out of mind” attitude, and while a request may seem small to you, you are not the one living with the maintenance issue on a daily basis. Keep your tenants happy by taking action when they alert you of maintenance. By doing so, you will get two things in return: tenants who see that you respect your property, which will cause them to do the same, and long term tenants who are satisfied with their living conditions and will forfeit thoughts of moving elsewhere. Sacramento property management companies have also seen great success with keeping maintenance costs in check by conducting annual and biannual property inspections of the interior and exterior. Check and inspect appliances, structures, smoke and carbon monoxide detectors, evidence of any water leaks or water damage, the condition of the roof, rain gutters, evidence of mold or mildew, and pests. A thorough inspection can also include checking that residents are in compliance with occupancy guidelines and pet rules.

Communication is Key

Lines of communication must be kept open on both ends of the tenant-landlord relationship. It should be stated and clearly explained in the lease agreement and during the lease signing process that tenants must alert their Sacramento property managers of any and all maintenance needed on the premises. Landlords should respond quickly to all maintenance requests, immediately to maintenance emergencies, and should see repairs all the way through to ensure quality maintenance was conducted satisfactorily.

Removing Liability

Hire licensed and insured repairman and technicians to fix maintenance requests. It may be tempting to take the DIY road and try to save yourself a few pennies, but too often this road leads to landlords paying more money to correct the DIY job that they did incorrectly. By hiring licensed and insured companies, Sacramento property management companies remove any liability from themselves, and place it on the company they hired. This protects them from lawsuits because licensed and insured technicians must follow laws and codes to make sure the fix is legal and safe. If you do the repair yourself and if it results in injury or hazardous living conditions to your tenants, you are the one sitting in the courtroom.

Conduct Maintenance While Vacant

While completing your walk-through checklist upon a tenant moving out, address all maintenance issues while the property is vacant and in the turnover process. This does not guarantee there will not be maintenance requests once occupied, but it will cut down on maintenance requests once your new tenants moves in. Sacramento property management companies find that by doing maintenance while the property is vacant provides many advantages:

  • You do not inconvenience your tenants
  • You spend less time on maintenance because you do not have to maneuver around someone else’s belongings
  • You do not have to clean up after yourself since you are likely hiring a professional cleaning company anyway after all maintenance is completed like painting and flooring replacement
  • You are more likely to get quality and highly interested applicants when the property is clearly properly cared for and respected

How Hiring a Property Manager Can Save You Money

At Select, our clients automatically get our preferred vendor pricing as soon as they sign a management agreement with our company. This means that all of our licensed and insured vendors give our clients discounts on their services. We not only save you money through our preferred vendor pricing, but we also remove the stress and anxiety that comes with responding to maintenance requests. Let the experts at Select, who have more than 35 years of experience, manage your investment rental property for you. Call us today.

How Rancho Cordova Property Management Teams Find Reliable Tenants

There are few things as wonderful as Christmas, puppies, and babies. But if you are familiar with the rental property management scene, you know having a reliable tenant who pays rent on time each month and treats your property with respect, makes everyday feel like Christmas. The Rancho Cordova property management leader, RPM SAC-METRO, knows that your experience with your tenants can make or break how you feel about owning a rental home. With so many applicants and different factors that go into considering accepting a new tenant, Select has provided landlords with a fool-proof way to keep your cash flow routine.

The Basics

Listing your home on the rental market is a big step for many landlords. Homeowners often have an emotional attachment to the home, making this big step a scary step. The California Real Estate Commission considers rental properties as business ventures, and they should be treated like one. The most successful Rancho Cordova property managers let go of their emotional attachments and get down to the basics:

  • Applications: Require that every person who is 18 years or older who wants to reside in your rental property fill out an Application to Rent. On this application, you will discover how many occupants wish to live in the residence, if they are employed, their income, rental history, and if the applicants have pets. Double check that the applicants have all signed and dated the bottom of their applications.
  • Income Proof: This can sometimes get messy. People are paid in a variety of different ways while some are self-employed. Always require that applicants submit sufficient income proof when they return their Applicant to Rent. Prior to listing your home on the rental market, Rancho Cordova property management teams need to establish a proper income to rent rate ratio. This ratio is often 2.5 to 3 times the rent amount. If your listing price is $2,800 per month in rent, the combined gross household income must be a minimum of $7,000 if your ratio is 2.5. Always looks at gross household income, not net. Most property managers consider proper income proof to be the two most recent pay stubs, six months of bank statements, or two years of tax return documents.
  • Credit Checks: It is difficult to rank one of these four rental selection basics above another, but credit checks along with rental history are arguably the most helpful. A credit check will tell you any outstanding debts that an applicant has. These can range anywhere from unpaid utility bills, to medical bills, to unpaid balances to previous landlords or management companies, and more. In the Rancho Cordova property management industry, credit checks alone can determine the outcome for an applicant. Landlords and managers should not accept any applicants who have unpaid balances to utility companies or previous landlords, but many do offer leeway to those with medical bill balances. If a tenant does have a small balance to a utility company, some landlords will give them the opportunity to pay off the debt that day and bring them proof of the payment as a condition of accepting the applicant.
  • Rental History: When screening your tenants, call previous landlords and management companies. Some good questions that Rancho Cordova property managers ask previous landlords. Answers to these questions can be very insightful and helpful in selecting the right tenant for your property.
  1. Did the tenant pay their rent on time and in full each month? If not, how many late payments were received?
  2. What was the rent amount when they lived at your property?
  3. Did the tenant take good care of the home or property?
  4. Was the tenant a courteous neighbor?
  5. Would you rent to this tenant again?

Rancho Cordova Property Managers Must Treat Everyone the Same

Be aware and educated on discrimination laws. Big corporations as well as private landlords must treat all applicants equally and with respect. Landlords cannot discriminate against religion, race, color, national origin, gender, familial status, or disabilities. Some local governments have also enacted that property managers cannot discriminate against sex, age, marital status, source of income, height, weight, sexual orientation, gender orientation, or public assistance recipients.

Do your due diligence and screen your applicants with uncompromising guidelines. The work you put in up front will pay off in the long run. You might find a tenant so good, they will stay for years and care for your house as if it were their own. Industry experts at Rancho Cordova property management team, Select, adhere to a rigorous screening process to find clients only the best of the best. Our proven process helps property owners know they can depend on that rent check coming in month after month. Call us today to see how we can find you the perfect tenant and in record time.