How Roseville Property Management Teams Plan for Maintenance

Spring is just around the corner meaning it is time to dust away the cobwebs and prepare for the chirping birds. With a change in weather and temperature, also comes a change to caring for your investment rental property. It happens annually and the best Roseville property management companies, like RPM Select, plan ahead to make certain nothing is missed during routine springtime property inspections, and that the budget has room for proper service technicians. Here are a few points to touch on while maintaining your property and getting it ready for spring and summer.

Spring Inspection Checklist

  • Appliance Tune Ups: perform heating, air conditioning, humidifier, dehumidifier, and ventilation tune ups on the property. As the cold winter season comes to a close, change air filters on the air conditioning units and schedule proper certified technicians to come and perform a multi-point inspection. Doing so will help prevent breakdowns and ensure that the unit performs at full capacity to cool the house. Having a cooling system that works efficiently during days where temperatures reach between the 90s and even 100 or more degrees will help Roseville property management companies keep tenants happy. Clean out humidifiers and dehumidifiers and check humidity levels in different areas around the house.
  • General Inspection: While performing the above mentioned tasks, inspect the general condition of the property. Check the condition of the flooring, walls, general cleanliness, and take note of any lease compliance issues. Check the safety of glass shower doors, toilet seats, and test window and door locks to see that they are functioning as they should. Doing so will limit your liability. Review occupancy guidelines and pet rules. A good rule of thumb that Roseville property management teams follow when checking occupancy is to look for any signs of overcrowding within the house. Having more beds, furniture, or clothing than expected based on the lease agreement occupancy is a good sign that unauthorized tenants are living in the home. If you find this to be the case, counsel with your lawyer for a proper course of action.
  • Check and Schedule Proper Landscaping Care: Consider aerating the lawn, reseeding, fertilizing, and pruning the trees and shrubs. Check for roots that could cause damage to your foundation or walkways and overgrown trees that could compromise your property’s security. Roseville property management teams want to remind property owners that tree branches that reach to upstairs windows may appear inviting to home intruders. Just because your property is currently occupied doesn’t mean you should ignore curb appeal. Keep your home looking attractive and inviting by planting fresh flowers if needed. You never know when your current tenants might turn in a 30 Day Notice to Vacate.
  • Test smoke and carbon monoxide detectors: Biannual testing and inspections of smoke and carbon monoxide detectors is crucial to limiting your liability as a landlord. Many states and local governments require it be done biannually. Stay informed on your laws and codes. Change batteries if needed and reinstall any detectors that have been taken down or removed. If detectors have been removed, speak with your tenants about the safety of keeping the alarms installed. Document your conversation to remove liability.

How to Stay Prepared for Maintenance

No matter how meticulously tenants take care of your property, things will break and maintenance is bound to happen. Roseville property management teams and landlords can be prepared for the maintenance requests by setting aside ten percent of rent each month. Another way to look at it is to set aside one month’s rent annually to account for maintenance. At the start of each year, take note of which appliances will be in need of replacement or repair. Remember, older homes will likely require more maintenance than new ones. The monthly ten percent rule may need to be adjusted and increased for old houses. Here are a few tips to keeping maintenance costs in check.

  • Be Proactive: Select remains the leaders in the Roseville property management industry because we practice what we preach and guarantee results. Following our spring and fall inspection checklists helps keep maintenance costs down and protects homeowners. As fall and winter approach, clean the rain gutters, change the air filter on the furnace, schedule a furnace tune up, and inspect roof shingles to make sure they are in good condition and will not spring a leak into your attic or ceilings.
  • Be Responsive: When a phone call, text, or email come in from a tenant, respond quickly. Make yourself available at all times of the day or night. We know not every property owner is willing to answer maintenance calls 24/7. If you fall into this category,  consider contacting a Roseville property management company to do it for you. Document how you responded to maintenance requests and hire only licensed and insured technicians to make repairs.

Have the Best Roseville Property Management Team on Your Side

Many investment rental property owners fear the cost of hiring a management company is too high. At Select, our fees practically pay for themselves. We are known for having shorter than average vacancy times and for having proven processes in place to save our clients money. Roseville property management is a big task and requires a lot of time, energy, and work. Let Select deal with the day-to-day stress while you sit back and watch your bank account get bigger each month. Call us today.

Invest in Rental Properties and Hire a Property Manager

Are you looking for a place to invest your money but struggling to make a decision on where to put the funds? The stock market, mutual funds, a business venture, and real estate all prove to be profitable. If you want to make big bucks and get a promising return on investment, property management Sacramento companies are seeing investment property owners reach their wildest financial dreams by choosing real estate. Did you know that in 2018, renters paid out more than $504 billion dollars to landlords and management companies? Yes, you read that right, billion. It greatly surpassed 2017’s amount of just $12.6 billion. If you want to get in on the action, there is still room for you.

Building to Rent, Not Sell

It is no secret that rising interest rates, stricter zoning and permitting, and an increase over recent years in home building materials are not only making housing unaffordable, but also scarce. As hopeful wannabe homeowners have saved money for a down payment over the years and excelled in the workforce to achieve their desired salary, their dreams of becoming a homeowner are getting crushed. And while we do not have a solution to homeownership problems, property management Sacramento company, RPM Select is aware of a home builder that has found the light at the end of the dark tunnel. Christopher Todd Communities, LLC, built more than 450 homes in the Phoenix, Arizona, area last year. The catch is that they do not build homes for ownership, but for rental. These unique communities are horizontal apartment communities made up of single family homes. Occupants do not need to qualify for a loan with a high interest rate to get into affordable single family housing. They can rent a brand new single family home, tailored to their choice, and save the money that would otherwise go to pay interest. The concept of build-to-rent is catching on across the country. Developers find it extra attractive that they can give high quality service to their tenants because the houses are in a concentrated area. AHV Communities, LLC, is developing this same kind of community in Texas, BB Living is also developing in Phoenix, and NexMetro Communities will break ground on $300 million in projects in 2019. It is a business model that has taken off and is becoming increasingly successful amongst national companies in property management.

Sacramento Rental Properties Remain Profitable

Select understands that individual property owners do not have the capital to build entire built-to-rent communities, but they can invest in a rental properties and see great returns with their investment due to the high demand for rental properties. According to Local Market Monitor, Sacramento made the top 25 best markets for rental properties in 2018. Sacramento has a population of more than 2.2 million people and a job growth rate of 1.8 percent annually. The research also found that Sacramento has a 4 percent population growth over a 3 year period. Owning a rental property in a community with job growth and population growth is a guaranteed way to fill a vacancy. The average home price is $348,000 which is on the higher end of the top 25 list, but still proves to be profitable with the help of experts in the property management Sacramento industry. Select specializes in the Sacramento community and pays great attention to each property it manages.

Getting a Loan for a Rental Property

Before diving in head first, there are some things to know and consider when purchasing an investment property for the sole purpose of renting it out. Unlike purchasing an owner-occupied home, rentals require more. It is common for lenders to require a minimum down payment of 20 percent, since mortgage insurance is not available for investment properties. Rental properties typically have higher interest rates associated with them as well as different approval requirements than owner-occupied loans. If you are looking to buy an investment property, speak with a mortgage consultant to determine your requirements.

Renting Out Your House with the Top Property Management Sacramento Company

Owning a rental property is a big money maker, but it also requires a lot of time, attention, expertise, and organization. Managing a rental property without knowledge or experience has been known to land investors in hot water. When property owners need to hire someone they can trust, they call Select. With more than 35 years of experience, we know the laws and regulations. We take care of the daily maintenance calls from tenants, scheduling of maintenance, rent collection, accounting, move ins and move outs, marketing, showings of the property, and uphold a rigorous tenant screening process. We find our clients the most qualified tenants, in record time.

Get rich the easy way. Let someone else pay the mortgage and manage the property for you. Call the top property management Sacramento company, Select today.

Sacramento Homeowners Are Renting Instead of Buying a Home

Navigating the waters of choosing to rent out your home or list it for sale can be difficult. There are so many options and what-ifs that present themself with either decision. There are many pros and many cons to each. It comes down to the personal decision of the homeowner determining what is best for them. Property management companies in Sacramento are seeing a large increase in the amount of properties that are listed as rentals in comparison to for sale signs. With mortgage interest rates hovering around five percent at the start of 2019, purchasing a house is becoming increasingly unaffordable. It is not a buyers market. It is a renters market. That is why choosing to list your house for rent can prove to be a very profitable choice in this economy, and here’s why.

Why Is Buying a House Unaffordable?

Many factors play a role in making housing affordable and unaffordable, but recent reports released at the beginning of 2019 are taking a look back at 2018 to see exactly what the market did to land the U.S. in an unaffordable housing market. Last year, unemployment nearly hit a fifty year low while the amount of job openings were high. You would think that with more citizens employed, they would have more money to spend and be purchasing houses. However, mortgage interest rates also increased putting the once affordable house, out of reach for even the well-employed. Property management companies in Sacramento know that these five percent mortgage rates may not seem high to those over the age of 40 who bought a house in the past with rates between ten and fourteen percent. But the increase between four and five percent is making all the difference for millenials.

In 2018, home builders built fewer affordable new single family houses than in past years. Reports show 50,000 affordable single family homes around 1,400 square feet were built in 2018 compared to the typical 200,000 in normal years. Instead, builders have their eyes set on expensive apartment complexes and executive housing. Let’s not forget that the price of building materials, including lumber and gypsum, have also increased over recent years. Builders are also running into stiff zoning restrictions and higher permitting costs in urban areas where the affordable housing shortage is especially tight.

How Homeowners Can Make Money In a Renters Market

Property management companies in Sacramento see houses listed for sale sit on the market for months without selling. All of the above mentioned reasons are to blame for this discouraging situation. Homeowners need not worry about selling their home for less than it is worth just to get it off the market. They have another choice. A choice that can result in big cash flow. Listing a home for rent in a renters market is the smart choice if you do not need the equity out of your home to purchase a new one. HotPads released a recent report showing that in 2018, renters paid a record $504.4 billion in rent compared to 2017’s whopping total of $12.6 billion. Going along with the increased amount Americans spend on rent, Pew Research Center has also found that more households are renting than at any point in the past 50 years. Sacramento property management companies not only saw an increase in the amount of people renting, but also an increase in the rental price from 2017 to 2018. San Francisco takes the cake with the highest monthly average rent price for a one bedroom apartment at $3,535. New York City falls slightly behind that at $2,895. While Sacramento might not at as high at $3,535 per month for a one bedroom, it is still very high at $1,140 per month as of January 2019. That is a 3% increase from 2017. These rent increases allows property owners the opportunity to make money despite not being able to sell their house. They will experience low vacancy rates due to the apprehension of would-be home buyers. A high demand for rentals helps drive up the rental price because of basic supply and demand economics. Not only can property owners expect to find a large pool of quality prospective tenants, but also the potential to make big bucks.

Why Property Owners Need the Top Property Management Company in Sacramento

Renting out your house is no easy task. Many property owners underestimate the time, organization, stress, and overall management duties that a rental home requires. RPM Select is the leader of property management in Sacramento and has a proven track record for over 30 years. Select has lower vacancy rates than its competitors, while continuing to provide quality service and find highly qualified applicants. Select handles everything for property owners including conducting market research to ensure you get top dollar in rent, marketing the house, showing the house, conducting a rigorous tenant screening process, signing lease agreements, handling and scheduling of maintenance, rent collection, property inspections, move-outs, and turnovers. We know you have a choice from many different property management companies. Don’t make the mistake of hiring the wrong property management company. Sacramento is where all your rental investment dreams become reality. Call Select today.

How Sacramento Rental Property Management Companies Avoid Legal Troubles

An investment property is designed to generate cash flow, giving you income or extra spending money. This is attainable when you carefully follow all federal, state and local laws along with ethics and do your research when choosing the right property. It is easy to lose this income or extra cash flow when you fail to adhere to laws, codes and regulations. Failure to follow laws can cost property owners so much money in legal fees, it wipes bank accounts clean. Do not let this be you. This situation is avoidable and Sacramento rental property management leaders at RPM Select are here to support you and protect you against making these avoidable mistakes.

Know Your Laws

This task alone may feel overwhelming, as there are so many laws that you must following the second that you label your property as a rental property. Some laws are put into place to protect property owners and others are to protect tenants. Either way, you must follow them. Here is a list of some of the most common laws that property owners must know to dodge lawsuits:

  • Americans with Disabilities Act: Sacramento rental property management teams are not allowed to discriminate against any person who has a disability. This civil rights act protects tenants from being discriminated against for their race, sex, national origin, or religion. It also covers those with mental or physical disabilities. This is where the gray area starts for many property owners. If a tenant fills out an application and says that they have a service animal, that is not considered a pet. Even if you have a “no pet” policy, a service animal must be allowed at no additional charge. Property owners also cannot inquire as to what the disability is. They can only ask if the service animal is required for the disability. Remember, a disability does not need to be severe, obvious, or permanent to qualify for the needs of a service animal. If a tenant needs to make modifications to the property in order to make it functional for their disability, they can fill out a Reasonable Accommodation Request. Modifications to the property are to be paid for by the person with the disability who is requesting the change.
  • Fair Housing Act: This is a federal act that rental property managers in Sacramento must follow. This act applies to those in protected classes from being discriminated against in purchasing or renting housing. Protected classes include race, color, sex, age, familial status, national origin, or disability. Property owners cannot pick and choose their tenants by discriminating against these protected classes when renting or advertising, and cannot intimidate or harass anyone based on these characteristics. A recent article published by USA Today states that Facebook allows landlords to discriminate in housing ads on their social media website, HUD alleges. This means, HUD claims Facebook is allowing property owners to target only prospective tenants they would want to see their ads and can filter by race, sex, age, color, familial status, national origin or disability. Do not filter who is allowed to view your property in online ads, who is shown your property in person, or who you ultimately choose to be your tenant.

Make certain you are not violating either of these laws, along with many others not listed above. Be conscious of what you ask prospective applicants and tenants. Do not discriminate against anyone who is classified as a protected class. Follow a rigorous screening process and treat everyone equally.

Evictions in Sacramento Rental Property Management

This is another area that can land property owners in hot water if done incorrectly. Evictions are sensitive and must be done in compliance to the law. Afterall, if you evict someone, you are taking away their shelter and putting a mark against them on their credit report. This could follow them around for years when seeking future housing. Before moving forward with filing an unlawful detainer after failure to pay rent, seek the legal advice from your attorney. Evictions can happen if a tenant is not in compliance with lease agreement terms. A few of the most common lease agreement terms that property owners see getting violated include failure to pay rent, not following occupancy guidelines, or failure to comply with a “no illegal drugs” policy. The most common reason Sacramento rental property managers see the cause for eviction is failure to pay rent. If rent is not received on time, property managers can post a formal three-day notice to pay rent or quit. If three days pass by and still no rent payment is received, contact your lawyer for proper guidelines on how to collect rent or start the eviction process. Remember, that you cannot evict someone for failing to pay their late fee associated with late rent. For example, if rent is $2,500 and the late fee is an additional $35, and the tenant comes through with the payment of only $2,500, you are no longer able to evict them. The $35 late fee can be collected later. Do not accept partial rent payments. This requires landlords to itemize daily rent fees and can lead to a messy eviction process.

Document Everything

Possibly the best way Sacramento rental property management professionals can protect themselves against legal woes is to document everything. We are not saying it is easy or fun, but we are saying it is necessary. Make the time to put everything in writing. It is difficult to recall every maintenance request, what was done to solve the maintenance request, or every conversation you have had with tenants regarding lease violations, and much more that property owners deal with daily. By documenting these things, you create a paper trail that can protect you if a tenant or applicant tries to sue you. You can document the old fashioned way by handwriting notes, opt to type notes on your computer, or utilize property management software that allows a note taking option on resident files. Date and time stamp your documented notes.

Do not take your chances in falling victim to costly legal fees. Contact the leader in Sacramento rental property management, Select today. Let us protect you.