Roseville Property Management Teams Avoid Legal Problems

There is a right way and a wrong way to conduct Roseville property management. Do it the right way and you will have a positive experience while getting a good return on investment. Do it the wrong way and you can land yourself in hot water, quickly. Landlords who do it the wrong way are often uneducated about laws, lazy or cheap. Do not let yourself fall into one of these categories. Doing so can cost you thousands of dollars, days in court, and can ruin your reputation as a property manager. If you want to stay out of trouble, educate yourself on all federal, state, and local laws. Participate in continued education courses and simply treat others the way you would want to be treated.

Adhere to All Laws

Some of the most popular and important laws that landlords must obey are the Americans with Disabilities Act, the Fair House Act, and Habitability Laws. Each law protects the following people:

  • Americans with Disabilities Act: This law protects and prohibits discrimination from Roseville property management companies against individuals who are disabled. This includes physical and mental impairments that severely limits one or more major life activities.
  • Fair Housing Act: This law protects and prohibits discrimination against people based on their race, color, national origin, religion, sex, familial status, or disbility.
  • Habitability Laws: These laws provide minimum requirements for landlords with the purposed to protect renters by ensuring they are living in safe, habitable conditions that safeguard life, health, limb, property, and public welfare.

When leasing your rental property, be certain to treat all prospective renters equally and with respect. If you give a discount to one, you must give that discount to all until the day is over. Starting on the next day, you can change your rental price or promotions. Market or advertise your rental property to all classes of people. Do not target certain audiences that you want to rent your property. For example, Roseville property managers cannot say in their ads “…looking for female occupants only” or “…only for high income professionals with no kids.” There are people who are hired by anti-discrimination companies to be Secret Shoppers. A Secret Shopper is someone who pretends to be interested in your rental, but is really there to test you to see if you present any signs of discrimination against them that fall under the ADA or FHA.

Remove Liability from Yourself

Private landlords and Roseville property management experts can protect themselves from legal problems by hiring licensed and insured repair workers. Ask your vendors if their liability insurance is current. Most vendors will be happy to show you proof of licensing and insurance as a guarantee. Hiring repair companies with good reputations and the proper credentials helps to remove liability from yourself if the work is not done correctly or if a faulty repair results in the harm or injury of your tenant. If you complete a do-it-yourself repair and something goes wrong, resulting in the death or injury of your tenant, you can expect an expensive lawsuit coming your way. Roseville property management companies must also operate under a licensed real estate agent. Licensed agents are allowed to collect money for security deposits and rent. Respond quickly to all maintenance requests, whether small or large, and keep yourself available at all times. Yes, that means even at 4:00 AM and on Christmas Day. Making yourself available to tenants lets them know you care about them and your property. In return, they will treat your property well and with respect knowing that you do too.

Honesty, Record Keeping, and Confidentiality

Accounting and Security Deposits must all be handled correctly and by a licensed real estate agent or overseen by him or her. This includes disbursements of funds or deposits after move out, accounts payable, and receivable. Be honest in your money dealings and keep spreadsheets or use official property management software for record keeping. Roseville property management teams that want to avoid legal troubles document everything. Document maintenance, when the request was received, when and how you responded, what company you hired to make the fix, and your follow up conversation with the tenant regarding their satisfaction with the work. Document all conversations you have tenants regarding lease violation findings, property concerns, entry notices or rent payment difficulties. Keep all private data confidential. Tenant applications have Social Security Numbers listed on them and must be kept in a locked filing cabinet.

Avoid All Risks of Lawsuits by Hiring Roseville Property Management Team, RPM Select

The experts at Select have more than 30 years of experience and have been highly trained and certified to operate as property managers. They participate in continued education classes to make certain they are always up to date on the latest changes to housing laws and that they are following each law perfectly. Do not risk your chance of a lawsuit by hoping you know the laws well enough. As you can see above, there is a lot to know and remember. One slip and the profit margins on your rental property are down the drain. Keep yourself and your money safe, call Select today.

Additional Services Offered by RPM Select, The Leader In Property Management In Sacramento

The majority of property management companies require that you hire them for the whole kit and kaboodle. They want your money and they will find ways to mask hidden fees without you noticing. Unfortunately, this can put a bad taste in property investor’s mouths for the rest of the management companies who are honest and upfront about all costs. At RPM Select, our clients will never find a hidden fee or extra cost they did not expect. We simply do not operate that way. We put our client’s needs first and make that our priority in property management. Sacramento property investors can hire Select for as much or as little work as they need and we always respect their wishes. We offer additional services to accommodate all investors.

Lease-Only Service

One of the most exhausting and risky tasks that landlords can participate in is the marketing and leasing phase of property management. Many things can go wrong during this crucial time if they are not educated and cautious in their proceedings. Landlords can run into hiccups in Fair Housing Laws, accept applicants with bad credit or rental history, fail to market in the right places, or neglect conducting market comparisons to ensure they will get top dollar for their rental. Select is the top pick for investors for property management in Sacramento because these mistakes will never be made with us on your side. If you are looking to rent out your property faster, find highly qualified tenants, market aggressively, and have all things done legally, you need Select. We offer lease-only contracts to property owners who do not need the continued management service once the property is occupied. You are not obligated to any other fees or contracts when you choose the lease-only option. Some of the things that are included in the lease-only contract include the following:

  • Re-Keying of the property
  • Repairs and updates to the property
  • Cleaning of the premises
  • Aggressive marketing and advertising
  • Showings of the property
  • Rigorous tenant screening process
  • Curb appeal maintenance
  • Lease signings

Once your tenant has moved in, we move out of your way and your bank account. If you desire more help after this process, we would be happy to assist you.

Preferred Vendor Partnerships

Maintenance costs can be expensive and inconvenient. Our clients who participate in a Sacramento property management contract with Select will get access to our preferred vendor pricing and partnerships. We hire only licensed and insured vendors who have reputable track records. They offer us deep discounts on service and parts, which we pass on to our clients. Whether it is a small repair to a garbage disposal or a leaking pipe that has caused thousands of dollars of damage, you no longer have to worry about high maintenance costs eating away at your profit. And no more phone calls to multiple vendors or waiting for quotes to come rolling in. Our professional property management Sacramento team works quickly and efficiently to respond to maintenance requests from tenants and schedules the proper vendors. Clients who participate in our vendor partnerships remove liability from themselves, which in turn protects them from legal fees in the future.  

Eviction Protection Program

Did you know that one in seventeen renter households between the years of 2000 and 2016 received eviction filings against them? According to data collected by The Eviction Lab at Princeton University, one in forty households were actually evicted during this time. Did you also know that an eviction can cost a property owner roughly $6,000 – $8,000 and can take four to six weeks? Just think of the monetary losses and headaches evictions can cause for property owners. The risk of eviction is not worth it. As the leader in property management in Sacramento, we take every precaution to prevent an eviction for our clients. We have a rigorous and proven tenant screening process, which has helped us achieve a less than one percent eviction rate. But we cannot guarantee it will not happen. That is why we offer an Eviction Protection Program to our clients. Our Eviction Protection Program costs $19/month and covers the following:

  • Servicing the Complainant with a Notice to Vacate
  • Preparation of Paperwork and Filing
  • Lawyer Fees
  • Two Appearances in Court
  • Court and Filing Fees
  • Coordination with Law Enforcement for Notices to Vacate
  • Writ of Possession

Do not gamble with the risk of eviction. Keep your investment safe and let us protect you from an expensive eviction.

Why Clients Get the Best Sacramento Property Management Service From Select

If you are looking for the most experienced and professional property management team, Select is the choice for you. We handle all things property management including turnover, maintenance, property inspections, marketing, showings of the property, application processing, lease signings, rent collection, evictions, and renewals of contracts. You can rest easy knowing our 30 years of unmatched experience has served us well in protecting property investors. Call us, the leader in property management in Sacramento, today.

Why Property Management Companies in Sacramento See Single Family Homes As the Most Profitable Investment

Should I invest in a multifamily property or a single family property? It is a decision that all property investors debate. The reason for the debate is that both prove to be profitable, but investors choose between the two types of properties depending on their holding strategy, exit strategy, and affordability. Property management companies in Sacramento are seeing investors get huge returns on investment on single family homes. Many factors play a role in these returns including appreciation, affordability, rent rates, management, and the stigma that surrounds the term “renters.”

Affordability and Appreciation

Home values have slowly been on the rise since 2008 and investors who bought single family homes back between 2008 and 2015 are seeing big appreciation gains. If you did not get into the investor housing game back then, it is not too late. Housing prices are still affordable due to relatively low mortgage rates and single family homes are cheaper to purchase than a multifamily complex. Even more important than those variables are rising rent rates. Record high rent rates are allowing property management companies in Sacramento to get top dollar for their clients who own single family homes. Property owners are cash flowing better than ever in 2019 thanks to the supply and demand in the rental market, driving up rent rates.

Easier Lending Terms

Single family homes have easier lending terms than multifamily complexes. You only have to put down between 10 and 15 percent for a down payment. On multifamily housing, buyers are required to put down between 25 and 30 percent. Interest rates are also lower for single family properties, but keep in mind that lenders change interest rates based on the home being owner-occupied versus renter-occupied. Mortgage rates are hiked up for renter-occupied single family housing. Property management companies in Sacramento report seeing mortgage rates increase between 0.25 and 0.50 percent for renter-occupied dwellings.

Easier to Manage

Plain and simple, a smaller property is easier to manage than a large property. For starters, less maintenance goes into a single family home than a multifamily property. Maintenance costs are lower, the amount of time that you spend on maintenance is less, and a fewer number of tenants means not as many things should go wrong due to tenant error. Property management companies in Sacramento also see that less yard maintenance is a bonus for owners of single family homes. Owners of multifamily complexes need to hire a landscaping company to care for the lawn, plants, flowers, trees, and sprinkler system. On the contrary, the renters who occupy a single family home are generally required to maintain landscaping. Management companies enforce the lease agreement rules that state they must care for the landscape. Showings of the property during vacancy are less stressful and less frequent. The more units you have, the higher the risk for vacancy. Sacramento property management companies know that single family homes generally attract renters who plan to stay in the home for a couple of years. They are also more likely to have children, so school schedules and job stability keep them from moving often.

Buy and Hold

Single family homes will always be in demand. When you purchase a single family home for the purpose of an investment, you have a bigger buyers market to pick from when you are ready to sell. Selling a single family home can attract buyers who plan to occupy it as well as buyers who are ready to rent it out with the help of property management companies. Sacramento property investors have switched their previous business models from buy and flip, to buy and hold. A few reasons why the buy and hold strategy is working for property owners right now is that rent rates are sky high, the demand for rental properties is high, and the newer generation does not value the “settling down” mindset as much as people did in past years. Millenials are on the go and enjoy the flexibility of not being tied down by home ownership.

High Income Clientele

Renters of single family homes have changed as the economy has changed. Property owners are seeing more stable and reliable tenants in their single family homes than with multifamily housing. RPM Select, the top rated Sacramento property management company recently reviewed results released by the U.S. Census which states that the number of high income renter-occupied households was increasing faster than owner-occupied households. They defined high income renters as those making $150,000 annually or more. The stigma that once surrounded the term “renter” is obsolete.  

Why You Can Trust Select, the Top Property Management Company in Sacramento

If you have a single family home for rent and need a management company, you can put your trust in Select. Single family homes make up 70 percent of our nationwide portfolio.  We have more than 30 years of experience in the property management industry and have proven to our clients that we know this business better than our competitors. If you want the best, call us today.

Why RPM Select is The Leader of the Auburn Property Management Industry

Are you looking to hire an Auburn property management company, but don’t know how to pick the best one? Most of the confusion when trying to pick the right management company for you stems from not asking the right questions. It is wise to be knowledgeable about what aspects of property management acn make or break your success as an investment property owner. At RPM Select, we want investors to feel empowered and confident knowing they have picked the property management company that can help them achieve their investment goals. We have compiled the following list of the top questions that investors should ask when shopping for management companies.

  1. How Can I Get My Property Rented More Quickly? This is the question where everyone wants to hear a magical answer. The truth is, there is no magic to renting out your property quickly. Hard work, research, advertising aggressively, and a quick response time can increase your chances to fill a vacancy quickly. Auburn property management teams conduct thorough market research of comparable properties within a close proximity to your property to determine the correct rental price. We recommend you start high to gauge interest. If no calls or emails come through, lower the price a little. Quickly respond to all inquiries and schedule showings promptly. Having a property that is clean, well maintained, and that has a functional floor plan work in your favor to rent it out quickly. At Select, we guarantee we can rent out your property within 28 days.
  2. How Do I Make Sure My Property Stays Rented? Tenants who rent with Select property management in Auburn, state that they stay long term in their rentals for multiple reasons. The most common reason we hear is that they see that we care for the property and address maintenance problems quickly. It shows tenants that we care about them and the house. People like to feel valued and cared for. It is human nature. We treat our residents with respect, set clear expectations, and only accept applicants who meet our rigorous tenant screening process.
  3. How Can I Make Rent Collections More Efficient? Clearly state in your lease agreement the amount of rent due each month, which day it is due, and how payments can be given. If possible, automate your rent collection system. The Auburn property management team at Select keeps up with the digital age by automating its rent collection process. There are many software options out there for rent collection, so use them to make your life easier.
  4. How Can I Avoid Costly Mistakes? The easier and most sure way you can avoid costly mistakes is by hiring a property management team. Property management requires landlords to have a lot of knowledge in many areas including legal and maintenance. Know your state, local, and federal laws. Knowledge in the laws will protect you from costly lawsuits. Treat all applicants and residents equally. Uphold and stick to the rules stated in your lease agreement and do not make exceptions for anyone. Hire licensed and insured maintenance technicians and follow up with maintenance to ensure it was completed and that the tenants are satisfied with the solution or repair.
  5. Should I Management My Property to Save Money? This question piggybacks on the previous one. Often times when landlords attempt the do-it-yourself method, they find it is more than they bargained for. Auburn property management professionals know that managing a property is time intensive, requires a lot of paperwork, physical showings of properties, phone calls, documentation, and legal advice from our attorneys. It is not for the fainthearted. But even those who have the determination to self-manage, find that the tiniest slip or naivety could land them in hot water.
  6. How Will I Know What Is Happening With My Rental Property If It Is Professionally Managed? The best property management companies communicate with both residents and clients on a regular basis. At Select, we know that communication is a two way street. We encourage our clients to contact us with any questions or concerns they have about their investment properties. We update clients through phone calls and give them access to our Online Owner Portal where they can view information regarding their rental. By signing in online, investors can view financials, the amount of showings their property has had during marketing, application status, see maintenance requests, and much more.
  7. Why Should I Choose Auburn Property Management Company, Select? At Select, you know that you are our priority. With more than 35 years of experience, we know a thing or two about property management in Auburn. We have proven, tried and true, and automated processes that protect you as an investment property owner. We handle all things property management including marketing your property, conducting professional showings, upholding a rigorous tenant screening process to get you only the most qualified tenants, lease signings, maintenance requests and scheduling of maintenance, move outs, turnovers, financials, and so much more.

Call us today to see how we can help you.

How Folsom Property Management Experts Save You Money with Routine Property Inspections

Entering the waters of property management can be a daunting task. So many what-ifs and unknowns can make it difficult to navigate the stormy seas. You know your end destination, but how will you get there and how many storms will come your way? Folsom property management experts at RPM Select are here to assist you in smooth sailing. While there are many tasks at hand when it comes to managing a rental property, we believe that one of the best and easiest ways to land you safely on the white sandy beach of your sailing destination is through conducting routine property inspections. Routine inspections do cost a little bit of money up front, but by doing so, they can save you bundles of money in the long run.

Proper Entry Notice

Before you enter the front door of your rental property, you must post a proper entry notice letting your tenants know what day and time you will be entering the premises. Proper entry notices usually come in the form of an official paper notice posted on their front door, though as more management companies keep up with the digital age, some notices are known to be delivered via email or even text message. Check with your attorney before settling for a less formal entry notice. This notice should be posted no less than 24 hours in advance, but 48 hours is preferable in property management. Folsom teams like to give tenants 48 hour advance written notice to be courteous and give them time to get their things in order and make sure the property is presentable. On the entry notice, tell your tenants the reason for your inspection. Set clear expectations and intentions of what you will be inspecting.

Folsom Property Management Teams Should Commit Now to Semi-annual Inspections

Routine property inspections should be done semi-annually to make sure your property is in perfect working order. These inspections should include both the interior and exterior of the property. A good rule of thumb is to conduct one inspection in the spring and another in the fall. Keep in mind, you will be responding to maintenance in between these inspections as needed. By conducting regular inspections, you will be able to see any signs of a maintenance problem, hopefully before it becomes a big maintenance emergency. When tenants see that Folsom property management teams make regular inspections of the property, they are more likely to care for the property and treat it with respect. Having clean and respectful tenants will save property owners money on maintenance.  

What You Should Inspect

Property owner’s inspection checklists vary depending on if the property is occupied or vacant. For the purpose of this article, we are going to point out which items you should inspect during occupancy while conducting a semi-annual property inspection.

Inspection Checklist for Interior

  • Clean and replace air conditioning and furnace filters
  • Clean and inspect the fireplace
  • Inspect all appliances: turn on the stove and oven to ensure they are in proper working order and replace the filter on the microwave as grease buildup can be a fire hazard
  • Check the stability and security of glass shower doors, hand railings on stairways, and toilet seats
  • Look for signs of leaks including bubbles in wall under paint, warping of flooring, or mildew growth on walls
  • Folsom property management companies always test and replace smoke and carbon monoxide detectors and its batteries so they are always in proper working order
  • Inspect and replace any caulking or silicone around the kitchen and bathroom sinks, and the showers and tubs
  • Clean out the lint from the dryer vent
  • Inspect the attics and basements for pests or signs of pests (animal droppings)
  • Ensure windows and doors all lock and create a tight seal to prevent a draft or leaks during the rainy season
  • Check for signs of overcrowding from tenants, including an excessive amount of mattresses or clothing
  • Check for any pets or signs of smoking, especially if a lease agreement prohibits pets or smoking

Inspection Checklist for Exterior

  • Inspect and turn on the sprinklers
  • Rake and clean dead branches, leaves and other debris from the yard
  • Prune trees and shrubs
  • Check for new or large cracks in the concrete that could cause a tripping hazard
  • Repair any window or door screens so there are no holes or tears in the screens.
  • Inspect the roof shingles
  • Clean out debris from gutters
  • Place a fresh coat of stain on any wood decks to prevent splitting or splinters

Property Managers in Folsom Always Document

Protect yourself as a property manager and always document your findings after your property inspection. Doing so will help protect you if legal action is brought against you. Take pictures of the property on the interior and exterior during your inspections as proof of your findings. If you find anything during the inspection that lets you know your tenant is in violation of any part of the lease agreement, follow up with an official notice and a time by when the violation must be resolved.

Select’s Way is the BEST Way

At Select, we pride ourselves on open communication with our clients and tenants. As the top rated Folsom property management company, we always give clients updates on what we find during routine inspections and tell them of the proper course of action to take if needed. Our property inspections are proven to help clients reduce the amount of money they spend on maintenance. Don’t try to navigate the rough seas without us. Come on a smooth sail with us. With Select, you’ll never land yourself on the rocks. Call us today.