Property Management in Elk Grove CA

How to Select a Profitable Rental Property According to Elk Grove Property Management Experts

Choosing to invest in a rental property is a big decision and one that requires extensive research. Real Property Management Select has more than 30 years of experience in the property management industry and has managed every type of property including single family homes, condos, multi family apartment complexes, and duplexes. If you are starting your real estate investment portfolio for the first time, Select can assist in leading you in the right direction to find a property that best suits your goals. Whichever property you buy today will impact how you need to manage it tomorrow. Make a smart decision now that will increase your success as a rental property owner.

Picking the Right Location

Not all markets are created equal. When searching for a rental property, look at specific neighborhoods. Targeted neighborhoods should include those with low vacancy rates, high rents, and high appreciation. Real estate agents should have extensive knowledge on this subject and can guide buyers to the right neighborhood. Another way to get familiar with vacancy rates and high rent rates is to talk to the neighbors when viewing prospective properties or Elk Grove property management companies like Select. Tracking and analyzing vacancy rates is an important part of a property management company’s data and most should know an average vacancy rate off the top of their head. The US Census Bureau has vacancy rate information as well, though it is a more general average and does not specify neighborhoods. The Bureau reported that in Quarter 1 of 2019, the United States vacancy rate was at 7.0.  

Nearby Amenities

Pick a rental property in a location that is close to schools, transit, shopping, entertainment, and other amenities. People like to live near places that they will attend often and that are convenient. When picking a property near a school, research the school and determine if it is in a desirable school district with good reviews. Talking with neighbors or a realtor can be beneficial in finding out this information. Public transportation that is easily accessible can help draw tenants towards a rental property in Elk Grove. Property management experts know that renters who commute via bus or train will enjoy having a stop near their house for a quick and easy commute. Quick access to grocery shopping, clothes shopping and dining are priorities to most people when they choose a rental property. Nobody wants to trek twenty minutes to the grocery store when they forgot milk or an ingredient for dinner. Even worse, when a member of a family falls ill and they need to run to the grocery store for medicine, they need one within five minutes. Having a movie theater and nearby restaurants that provide residents with delicious and entertaining options will draw and keep tenants living in a house long term. 

Homeowners Association Rules

If you plan to buy a rental property that is part of an HOA, make sure that you know and study the rules before renting it out in Elk Grove. Property management firms know that some HOAs have regulations regarding rental properties and others simply do not allow rentals or will shut them down if terms and conditions are not met. HOAs appeal to many home buyers because the rules generally help to maintain high property values. The concern that many HOAs see with rentals is that they draw people into the neighborhood who would not normally live there. While most tenants make great stewards over rental properties, there is a suspicion that renters may not care for the property in the same way that a homeowner would. Some HOAs can limit the number of residences within a neighborhood that can be a rental property while others may put a requirement on the number of years that a homeowner must occupy the property first, before transitioning it into a rental property. 

Choosing the Right Property

Assuming that investors have narrowed down neighborhoods and taking into consideration HOAs, location, and amenities, it is now time to determine the property specifics that will provide investors with long term tenants who pay rent on time and care for the property as if it were their own. Elk Grove property management company, Select, has been in the industry and managed every type of property possible. The experts at Select know that different property types provide investors with different outcomes. The type of property an investor chooses to purchase should depend on his or her financial strategy. 

Property Details

  • Data shows that during the last fifteen years, single family rentals delivered high returns on investment through appreciation and rental income. For multiple years in a row, rent rates have increased by three percent each month and in January 2019 alone, they jumped 3.2%. 
  • Select can back up the data provided above and confirms that single family rentals are in high demand and generating more income than ever before for investors.
  • Single family residences can support a family lifestyle. Renting to a family is known to provide property owners with long term tenancy. Look for a property that would appeal to your desired tenant. This would include a property that is a minimum of three bedrooms and has at least two bathrooms. A fenced yard is also a desirable characteristic for prospective families looking for a single family rental. 
  • Elk Grove property management experts recommend that investors purchase a home that is less than 50 years old. This will help to keep maintenance costs low. The older the property, the more expensive the maintenance. Another benefit to buying a newer home is that you are less likely to get a quirky layout. The style starting from about 1990 to the present is to have open layouts that provide occupants with a Great Room. A Great Room has the ability to combine multiple rooms that serve different functions into a large gathering area. They generally include the kitchen, living room, and dining room. This layout allows families and friends to interact with one another, while doing different tasks. 
  • Elk Grove property managers advise investors to avoid busy streets that cause excess noise to the tenants or a safety concern as children play in the front yard or ride bikes on the street. 

Proven Leasing and Marketing Strategies

Successful leasing and marketing starts back at your buying decision. Target the right audience with advertisements. Market rental properties on local classifieds, Craigslist, Zillow, Hotpads, Oodle, or Trulia, just to name a few. Place a For Rent sign in the front yard and draw attention to it by attaching some helium-filled balloons. This is a proven successful strategy as neighbors will alert friends and family, so that they can live near one another. 

How the Experts at Elk Grove Property Management Team, Select Can Help You

Whether you own a single family home, multi family complex, duplex, condo, or manufactured home, Select is ready to help you maximize your return on investment and reach your financial goals. We have managed all types of properties and have experts standing by who can provide investors with high quality tenants, top rental rates, low maintenance costs, and low vacancy rates. Call us today. 

How Elk Grove Property Management Teams Find Reliable Tenants

Picture this: your perfectly reliable long term tenant has just turned in his 30 Day Notice to Vacate. Almost immediately, your heart drops. Your fear increases as you anticipate finding a tenant who will be equally responsible and respectful of your property. Has this happened to you? We hope it has. If not, you are not getting the best tenants for your property. Elk Grove property management team, Real Property Management Select, has a proven process that gets clients the highest quality tenants, that leaves them sad to see a tenant move out. They do not need to be sad for long, knowing that with Select professionals on their side, their next tenant will be equally as wonderful.

Tenant Screening

Do not learn the hard way by making a hasty decision when accepting an applicant. The worst thing you can do as a landlord is to be so desperate to fill a vacancy that you lower your standards and accept someone who is unqualified. Screen your tenants carefully and thoroughly. Though it sounds pessimistic, do not give anyone the benefit of the doubt. Let the facts you discover when going through the following steps, speak for themselves.

Require an application

Elk Grove property management companies require that any person who is interested in living at your property and is 18 years old or older, must submit a filled out and signed Application to Rent. An application should inquire as to the person’s legal name, social security number, residence, previous residences, employment information, monthly monetary obligations, if the applicant has any pets, or if the applicant smokes. Always require an application fee. This fee generally ranges between $25 and $40. This fee should be non-refundable. It is needed for the landlord to check credit reports, employment verification, and rental history.

Income Requirements

A general rule of thumb that landlords follow is to require that an applicant makes a minimum of three times the rent amount. Elk Grove property management professionals look at gross household monthly income. If your monthly asking rent is $2,200, your applicants must make a gross household income of $6,600 monthly. That is around $80K annually. Requiring a 3x income ratio gives landlords peace of mind knowing that their tenants can afford to pay rent each month, in addition to their other bills and common living expenses.

Sufficient Income Proof

The following documents should be accepted as proper income proof; two most recent pay stubs, an official offer letter printed on letterhead and signed by the hiring manager or HR manager, six months of bank statements, previous two years of tax return documents, social security statement, or a pension statement. Elk Grove property management experts should always contact the HR department or applicant’s manager to verify employment and to make sure the income proof is not forged.

Verify Rental History

In addition to verifying employment and checking credit, some of the most telling information you can gather about an applicant comes from his previous landlord. The previous or current landlord has walked in your shoes. They know first-hand if this applicant is reliable and respectful of rental properties or not. When verifying rental history, be careful of what you ask. Here is a list of questions that you can legally ask a previous landlord:

  • Did the tenant pay their rent in full and on time each?
  • Did the tenant ever have late payments? If yes, how many?
  • Was the tenant ever served an Unlawful Detainer?
  • Did the tenant take good care of the property?
  • Would you rent to this person again?

Credit Report

Elk Grove property management firm, Select puts a lot of weight on credit scores. And for good reason. Credit scores tell landlords if an applicant pays their bills in full and on time. A perfect credit score is 850. Do not expect your tenant to have a perfect credit score. Be leary of applicants who have a credit score under 620. If an applicant has an outstanding debt that they owe, do not accept them as a tenant. You can however, give them a Conditional Acceptance, which means they must go to the creditor and pay the debt, then bring you back a receipt that proves the debt has been paid.

Criminal Background Checks

When checking credit, Elk Grove property management professionals can also check for violent or sexual crimes committed by the applicant. Violent or sexual offenders can bring additional liability to you. Do not allow such offenders to live at your property.

Know the Laws for Elk Grove Property Management

Be careful that you do not discriminate when showing your property or accepting rental applications. Remember there are protected classes of people. The Fair Housing Act protects people from being discriminated against for their race, color, national origin, religion, sex, familial status, and disability. If an applicant states that they have a service animal, you cannot discriminate against them because of it. You also cannot require that they pay a deposit for their service animal.

How Select Protects You

With more than 30 years of experience in property management, you can rest assured knowing that we follow a rigorous and thorough tenant screening process. We do things right every step of the way. Take the guessing and finger-crossing out of approving tenants to live at your property. Elk Grove property management professionals at Select know how to protect you. Call us today.

How Elk Grove Property Management Companies Keep Maintenance Costs in Check

One of the biggest costs to owning an investment property is maintenance. Unlike your mortgage payment each month, maintenance can be unexpected and can range in price. The unknown is what causes concern for new investment property owners. While the unknown in any aspect of life creates worry, the top Elk Grove property management company, RPM Select, has created the perfect recipe to put property owner’s minds at ease when it comes to expected and unexpected maintenance.

Set Aside a Maintenance Budget

Follow the Scout Motto: Be Prepared. Select advises its clients to set aside one to two month’s rent amount per year to account for maintenance. Another way to plan for maintenance costs is to save one percent of the value of home, per year, for maintenance costs. If your home is worth $400,000 in Elk Grove, property management companies recommend you should have a maintenance savings account of $4,000 to cover maintenance on the home. Keep in mind that older homes may require a larger maintenance budget than new homes, but the one percent rule is an accurate guideline to follow.

Plan for Annual Maintenance

Like the car you drive needs gas, oil changes, and tire rotations, a house needs regular and annual maintenance to keep it performing in tip top shape. This regular maintenance can be performed by a landlord, but is best if hired out to a professional who has liability insurance. As springtime approaches, homeowners and landlords of rental properties should follow this routine checklist:

  • Inspect and turn on sprinklers
  • Care for your landscaping—clean up dead shrubs and trees and prune overgrown branches
  • Consider fertilizing the lawn and call your landscaper to plant fresh flowers
  • Tune up the air conditioning unit and clean out the furnace
  • Inspect outside faucets
  • Check the safety of the concrete to make sure there are no major cracks or tripping hazards
  • Spruce up the woodwork on the deck or put on a fresh coat of stain to prevent splinters from cracked and unsealed wood
  • Inspect the basement and attic for any signs of leaks, mold, or mildew growth
  • Always inspect smoke and carbon monoxide detectors and change the batteries as needed

The Elk Grove property management team at Select also has an annual fall maintenance checklist to protect homeowners:

  • Clean gutters and downspouts—remove any debris that could cause the gutters to overflow, causing a leak into your roof
  • Inspect roof shingles for any repairs or areas that could allow water into the attic
  • Check that windows and doors close tightly and lock
  • Tune up your furnace and replace the air filter
  • Make sure that your water pipes are well insulated
  • Inspect the safety and security of handrails on staircases to make sure they are tightly fastened to the wall
  • Always inspect smoke and carbon monoxide detectors and change the batteries as needed

Property management teams in Elk Grove also budget for maintenance ahead of time by carefully thinking about the age of the appliances in the home and which ones might be in need of replacement during the coming calendar year. As a general rule of thumb, a refrigerator lasts about seven years, dishwashers and garbage disposals are good for about twelve years, microwaves last about eight years, stoves and cooking ranges for about sixteen, and washing machines and dryers should last for twelve to fourteen years. For a full list of appliances in your home and their expected lifespan, click here.

Care for Your Property

Just as you perform regular maintenance and your vehicle, perform routine maintenance on your house in Elk Grove. Property management experts know that when you care for and show respect for your property, your tenants are more likely to care for the property too. Respond quickly to maintenance requests. This shows that you not only care about keeping your property in good working order, but also that you care about and value your tenants. And remember, happy tenants stay. Keeping your tenants happy is not the only reason you should respond quickly to maintenance. A quick response time generally cuts down on the amount of damage done by the item that is broken. For example, if a tenant reports a bubble under the paint on the wall, that could be a sign of a leaking hot water pipe. Time is of the essence when it comes to a leaking pipe, especially a hot water one. Finding a solution and acting on that solution quickly will save property owners money and will prevent further damage.

How the Elk Grove Property Management Team at Select Can Save You Money

When investment property owners join the clientele of Select, they immediately get access to our preferred member pricing. We have tried and true maintenance technicians and companies that we hire on a regular basis that give our property owners discounts on service. They are licensed and insured for your protection. Our professional leasing teams have also been trained to follow routine property inspections to catch any signs of maintenance problems early. Finding a potential problem before it turns into a maintenance emergency has saved our clients thousands of dollars. Let the professionals at Elk Grove property management team, Select protect your investment property. 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.

Rent Out Your House Instead of Selling it in Slow Housing Market

You’ve heard all year, “it’s a seller’s market” and may have considered putting your house on the market. If you have not taken action yet to sell, don’t. New talk from Redfin CEO, Glenn Kelman, states that the market has seen a “significant slowdown” in recent weeks and while second quarter earnings came in as expected, Redfin’s third quarter forecast came in under what Wall Street projected. Talking specifically about the West Coast, including areas serviced by Elk Grove property management team, RPM Select, like Seattle, Portland, and San Jose, Kelman states, “June sales were down in these markets by double-digits while inventory was up also by double-digits.” He states that new reports are now coming in showing that the East Coast is following the trend in places like Boston, Washington, D.C., Virginia, and areas of Chicago.

Why is the Seller’s Market Transitioning?

Many factors go into making the success of a seller’s market. Some real estate experts suggest that the recent slowdown in housing sales can be attributed to less new construction of homes and a short supply of existing homes for sale, which directly push housing prices so high, they become unaffordable to would-be buyers due to bidding wars. New taxes on imported lumber are also making the construction of new housing more expensive. Another direction to place the blame is on The Federal Reserve. With a flourishing economy, it intends to continue to raise interest rates, making a mortgage more expensive. Government-sponsored enterprise, Freddie Mac, expects the housing market to stay slow through the rest of 2018.

What Can Homeowners Do if They Don’t Sell?

Having your home listed for sale and not receiving offers or receiving low-ball offers, can be disheartening. Elk Grove property management company, Select, does not want you to get discouraged if you need to relocate and are unable to sell. Renting out your home is a wise decision when the selling market takes a turn for the worse. As home prices rise, people are more likely to rent than buy. This turns the odds in your favor. Before you choose to rent out your home, may we suggest you consider the following:

  • Rent Amount: Do your market research to determine the asking rent you can achieve. Pull comparison rental properties in the immediate area to determine your rental price. In a bad economy, you may only be able to cover the mortgage. In a good economy, you will likely cash flow, especially in a city like Elk Grove. Property management experts warn against listing your rental house for too low. If you do this, you run the risk of attracting less qualified tenants. Be realistic with your asking rent.
  • Finding and Qualifying Tenants: Advertise your property across multiple outlets including print ads, websites, and word-of-mouth. Ask prospective tenants to fill out and submit an Application to Rent after they have walked through your property. Require an applicant’s two most recent pay stubs to verify their employment. If they do not receive pay stubs, six month of bank statements or two previous years of tax return documents would be sufficient. Verify the applicant’s employment and rental history. It is standard for property management companies in Elk Grove to ask for a deposit and rental application fee when an applicant returns the above mentioned documents. Check credit scores and conduct criminal background checks to ensure you have a reliable renter who is likely to pay rent in full and on time each month.
  • Signing a Lease: Require your tenants to sign a lease agreement at the time of move in. Ensure that your lease clearly explains each party’s obligations and responsibilities. Select recommends that you contact a local lawyer to assist you in drafting a lease agreement to make sure it complies with all Fair Housing, rental, local, and insurance laws. Clearly communicate your expectations with tenants at the time the lease is signed. Conduct routine property inspections to make certain your tenants are adhering to all lease agreement rules.
  • Insurance Changes: Renting out your home with property management in Elk Grove is a great way to earn passive income. Before a tenant moves in to your property, change your homeowners insurance policy to a rental home insurance policy. Your original homeowners policy covers the structure of your house, the belongings inside of it, and any damage done to the property. A rental home insurance policy covers the structure of your home, legal fees, medical expenses and loss of rental income if repairs are needed.

Hire the Top Elk Grove Property Management Company to Work for You

With more than 35 years of experience in the rental property management industry, you can feel confident knowing your house is in good hands. Select handles everything for you including advertising, showing your home, qualifying tenants, lease signings, move ins, rent collection, regular property inspections, move outs, maintenance, and repairs to the property. If you are needing to get out of your home, but cannot seem to get a fair asking price for your it, give Select a call today.

Avoiding Costly Mistakes With Property Management Companies

Owning and managing an investment rental property is as easy as receiving an on time, full rental payment, right? Wrong. If only it were that easy and simple. The truth of the matter is owning and managing an investment rental property comes with complexities, knowledge, experience, and expertise. One wrong mistake and you could land yourself in the courtroom with costly bills from your lawyer. Sacramento property management companies know that managing a rental property alone can be stressful and more than you bargained for when you signed the Closing Documents on the house. That’s why the top management company, RPM Select put together this free informative library of information to help you along the way.

  • Time Constraints: Property management is a 24/7 job that requires a responsible party to be available at all times. Yes, this includes major holidays like Thanksgiving and Christmas Day. Maintenance emergencies don’t take vacations. Whether it’s 3:00 AM on a normal day or 9:00 AM on Christmas morning, residents need help when a pipe springs a leak, or a toilet floods, or a fire sparks chaos. Maintenance does not disappear if you ignore it. In fact, it can often times get worse. Take maintenance requests seriously and respond to them promptly. Make the necessary repairs correctly. Maintenance emergencies are just the tip of the iceberg. The entire leasing process such as preparing your home to be rent-ready, advertising your rental, coordinating home showings, conducting tenant screenings, creating and signing a lease contract, and much more prove to be heavy time commitments. A rental investment is a time investment.
  • Follow Laws: You must always follow the law. Take the time now to educate yourself on your local, state, and national rules and regulations. Otherwise, you might find yourself with some hefty violation fines in the future. Violations of local, state, and federal laws can hurt your cash flow. Some major laws to pay close attention to include the Fair Housing Act and Americans with Disabilities Act. Specific laws and regulations apply to property owners. Be aware of collection and eviction laws, property inspection regulations, local city ordinances, state property code laws, and trust accounting laws when handling security deposits and rental payments. Sacramento property management companies know that following these laws only provides you with protection. Don’t think of educating yourself on these matters as an inconvenience. You will create major inconveniences for yourself if these laws are ignored.
  • Firm Lease Agreements and Tenant Screening: Clearly outline tenant responsibility versus landlord responsibility in your lease agreements. Elk Grove property management companies know this will eliminate disputes down the road. A well-written lease protects you as the homeowner. It is your chance to communicate your expectations and set firm-but-fair rent policies. Ensure that your tenants understand every clause of the agreement at the time of signing. This includes but is not limited to: when rent is due, who is responsible for maintenance, who is responsible for pest control and compliance with pest control if it is needed, rules for caring for the home, occupancy guidelines, pet rules, and much more. Carefully choosing a tenant limits your risk of damage to the premises as well as evictions. Do not settle for a mediocre tenant just to fill your vacancy more quickly. This most likely will lead to regret. Verify tenant income and check rental history. Conduct background, criminal, and credit checks. Require an application for every tenant over the age of 18. Following a rigorous tenant screening process sets you up for success and positive cash flow.
  • Sacramento Property Management Companies Stick to a Budget: It is important to account for unexpected costs. Money flows both ways with a rental investment. You must save and account for the costs of home repairs, vacancy times, insurance costs, legal fees, and property taxes. If a simple home repair has you in a panic, you need to reconsider your cash flow management. Look at past repair invoices to determine if an appliance might be in need of replacement in the near future. A general rule of thumb is that carpet should last 5-7 years, appliances should generally last 10-12 years, and paint generally has a lifespan of about 2-3 years. Keep a strict budget and always account for each dollar to stay on track.
  • Regular Home Inspections: Conducting regular home inspections is the easiest way to know the status of your rental and protect yourself as a homeowner. Inspections are a time to catch maintenance problems before they escalate into expensive repairs. You can also look for signs indicating your tenants are not complying with the rules of their lease. Post proper Entry Notices informing your tenants of the date and time frame you plan to enter. While inside, check for compliance with occupancy guidelines, pest control, pets, and damage to the property. Inspect the exterior of the property including structural stability, landscape, sprinklers, irrigation, and rain gutters.

By following the above recommendations provided by professionals at Sacramento property management companies, you will provide yourself with shorter vacancy times, steady cash flow, decreased maintenance costs, and reduced liability. Select wants you to have a positive experience as a rental investor. With more than 30 years of experience, our experts utilize a hassle-free leasing cycle that is proven to be successful. You can be a profitable landlord and see investment gains. Put our Elk Grove property management team to work for you. Learn how our proven processes can increase your bottom line. Give Select a call today.

A Recipe for Success for Property Management Elk Grove Investors

Have you ever tried to bake cookies and failed to follow directions, resulting in a complete mess of a substance that hardly resembles cookie dough at all? We know the feeling. Mistaking a tablespoon for a teaspoon for salt is hard to reverse. The same can be said if property management Elk Grove companies do not follow proper precautions and maintain professionalism while managing properties, resulting in negative tenant relations. RPM Select has perfected the recipe on how to keep tenant relationships professional and maintain a safe and happy environment for everyone involved. Here are some tips on how you can create positive relations between yourself and your renters.

Don’t Make it Personal

Managing an investment property requires exact measurements of emotional ties – enough to care about the property, but not enough to take it personally or be distraught when things go wrong. Too often investment property owners find themselves emotionally attached to their rental home. With all the investment of work, money, and time that owners put into their homes, it is easy for them to get offended and find themselves emotionally drained when tenants don’t treat the property the way they would. This can become a common boiling point for investment property owners. However, in order to correct a problem, the first step is to always maintain professionalism even when the tenant does not. Keep your temper and emotions in check at all times. If you feel it is too difficult to separate yourself emotionally from the property, sometimes it helps to bring in a third party who is not emotionally invested to the property to be a mediator.

Be Realistic

A house will not always look as perfect and good as it did when it was newly built, freshly painted, new flooring installed, freshly landscaped, or remodeled. Elk Grove property management company, Select, has learned to avoid the trap of expecting perpetual perfection from its clients and tenants. The harsh reality that all homes suffer wear and tear from normal use whether owner occupied or tenant occupied can sometimes be frustrating to owners. Keeping this in mind adds a needed perspective when dealing with tenants. Even the most reliable, responsible, and trustworthy tenants cannot live up to unrealistic expectations of perfection. Remember they are paying you to give them a place to live, day in and day out. Living is sometimes messy. Investment property owners should understand that once they classify their property as a “rental property”, they need to treat it like a business investment.

Uphold Property Management Elk Grove Lease Agreements

Remember that tenants have a degree of latitude in a rental property and should have the freedom to live in the property as long as they stay within the property management Elk Grove guidelines of the contract and government laws. Nitpicking small details outside of your contract creates tensions between you and your tenant. Even if you intend to move into your home later, you still need to operate your rental like a business until the day you move back in. Do not take mistakes personally. If tenants don’t attend to every little detail of your home, like perfectly mowed grass, or paint over every little scratch on the walls, don’t stress.  Simply enforce the lease terms to ensure proper care of the property, not perfect care of the property. You can also opt to step out of the kitchen altogether and avoid the difficulties and emotion of property management. Local experts at Select can be your third-party buffer. We’ll represent your interests and protect your property while keeping the tenant happy. Think of us as your personal chef when baking those above mentioned cookies.

Take Time to Adjust

Handing over your home or rental property to a tenant is not easy. Take time for a mental adjustment. You will be more successful and prepared if you recognize that adjusting to such a big change is a gradual effort. Elk Grove property management companies too often see investment property owners react emotionally and frantically when that first maintenance phone call comes in just two weeks after their tenant moves in to the property. They immediately become defensive and feel as if their property has been vandalized because just two weeks ago, everything was in perfect working order. Respond quickly to maintenance requests to make tenants feel important, valued, and happy. Renters like to know that they matter to you and that you are doing everything in your power to keep them in a safe and secure environment. Make certain that proper vendors and maintenance is performed on the home, so that the plumber is not having to return for two and three visits just to fix a leaking toilet. That is an easy recipe for angry tenants. Real Property Management offers quality service and cost-effective solutions to help protect and uphold the value of your property.

Call the top property management Elk Grove company, Select, today to find out how you can have a fool-proof recipe for success.

How to Lease Faster with Sacramento Real Estate Management

Nothing hurts your cash flow more than a vacant home. When you have no tenants, you have no income. Every vacant day hurts your bottom line. If you want to be a profitable homeowner, you need to decrease vacancy periods.

Create a Rent-Ready House

There are a number of ways to avoid leasing delays and extended vacancies. At Real Property Management Select, we understand the rental industry and know how to get you a better return on your investment property. We are committed to helping you place new tenants as quickly as possible to prevent lost revenue. Our Sacramento real estate management professionals offer a few suggestions to get your home ready to rent out.

Boost your Curb Appeal

Potential tenants judge a home before they even step foot in it. A home with curb appeal naturally catches the attention of prospective tenants. When your home is attractive and the yard is clean, you can expect a larger amount of showings and applicants. When you receive more applications, you increase your odds of finding reliable tenants. Selecting qualified tenants for your home is the key to your profitability.

It is worth your time, energy, and resources to invest in the outside look of your home. Begin with the yard. Cut the grass and remove weeds, fallen leaves, and dead plants. Trim any greenery or bushes that appear overgrown. Keep the grounds free of debris and clutter.

Once the yard is in order, make improvements to the exterior of your home. A fresh coat of paint transforms a home. If painting the entire home is not in the budget, then consider just the front door. Better yet, replace the front door. This can drastically change the feel of your home. A clean, smooth look to the door produces an inviting entryway.

Address Maintenance Concerns

Fixing up the interior of your home is the next way to get your property rent-ready. It is important to begin preparing your rental for new, incoming tenants the day your previous tenants move out. Walk through the home and evaluate what needs to be repaired or updated, then act quickly. Do not show a home while completing these necessary fixes. Prospective tenants need to be able to envision living there. This is difficult if the home is not clean and presentable at the time of their walk-through.

When making home repairs or improvements, think long-term and make cost-effective decisions. Skimping upfront ends up costing you down the road due to more frequent maintenance and replacement expenses. When considering cosmetic improvements, you do not need an elaborate plan. The overall feel and look of a home can drastically change with a new coat of paint or different flooring. If the home is not in need of a total makeover, remodel the features of the home that will improve the overall ambiance of the home.

Establish a Rental Rate

From Roseville to Elk Grove, property management companies offer various services. Our Sacramento real estate management team follows the rental market and helps you decide the best rental price for your property. Too high of a price discourages applicants, yet too low of a price cuts into your profits. We have extensive experience managing homes in the greater Sacramento rental market and can help you keep up in this ever-fluctuating industry.

Advertise and Advertise Some More

You will see longer vacancy periods if your home listing is not advertised properly. A simple yard sign is not enough. You will not find tenants quickly if tenants cannot find you in the first place. At Real Property Management Select, we advertise your home across multiple popular websites. We also produce a video tour of your property allowing tenants to view your home online when it is convenient for them.

Once we receive inquiries for live walkthroughs, we respond to those requests right away. Our experts understand the urgency to schedule showings promptly. Finding qualified tenants for your home is our top priority. We work nights and weekends to make ourselves available at times ideal for anyone interested in viewing your rental.

Conduct a Thorough Tenant Screening

Poor tenant qualification often leads to larger problems such as rent delays and increased vacancies. Investment property owners experience less tenant turnover when they take the time to place reliable tenants. Quality tenants tend to stay longer and better care for your home. A rigorous application process is an extremely crucial component of property management.

At Real Property Management Select, we ensure the best screening process possible. We verify income and employment. We check rental history and contact previous landlords to discuss any prior issues with the tenants. We look at credit and criminal backgrounds. We do this all while complying with any local and federal laws and regulations. We want you to be successful, and strive to find responsible tenants that will respect your property.

Construct a Contract

You’ve worked hard to get your home rent-ready and find tenants; now it is time to get them moved in. The vacancy period is extended every day you do not have a lease contract prepared for tenants to sign. Waste no time getting the contract in order and gathering a deposit. It is vital your lease contract sets clear expectations and outlines specific tenant versus landlord duties. A well-written contract provides invaluable legal protection and security to you as a landlord.

The Trustworthy Sacramento Real Estate Management Team at RPM Select

Whether you own a home in Auburn or Rocklin or Elk Grove, property management is a complex job. Do not go about it alone. At Real Property Management Select, our experts know how to reduce vacancy periods and minimize leasing delays. You can rely on our team to take over all those tedious landlord responsibilities required to get your home rent-ready. We will:

  • Prep the exterior of your home to boost curb appeal
  • Oversee all maintenance repairs and cosmetic fixes
  • Research competitive rent prices
  • Aggressively advertise your home listing
  • Follow a strict tenant screening process
  • Create a clear and concise lease contract

Our Hassle-Free Leasing Cycle

You can trust our Sacramento real estate management professionals to protect your property. We can help you decrease vacancies to increase your cash flow. Put our proven processes to the test. Contact Real Property Management Select today.

What Elk Grove Property Management Can Do for You

Managing an investment property is hard work. Landlords work around the clock, even weekends and holidays. There are many complexities and risks of owning a rental home as well. It is crucial to have the proper knowledge, skills, and experience of Elk Grove property management to avoid costly mistakes or legal trouble.

Elk Grove Property Management Tips for Success

As an investment property owner, are you operating a profitable business? At Real Property Management Select, we understand the rental industry and know how to get you a better return on your rental. Without the help of professional property management, Elk Grove homeowners often end up hurting their bottom line. With more than 30 years of experience, the five common landlord mistakes we see include:

Skimping on Maintenance – In property management, Elk Grove homeowners know that small problems turn into big problems when they are not fixed promptly. You end up saving time and money when taking a proactive approach to maintenance. Also, a well-maintained home attracts more qualified tenants.

Using a Poorly Constructed Lease Contract – It is important to outline in a lease contract what you expect from your tenants and what your tenants can expect from you as a homeowner. Without a well-written lease, tenant conflict is sure to arise which can lead to turnover. Those vacancy days then have a direct financial impact on your business.

Skipping Regular Home Inspections – Home inspections are a crucial component of property management. Elk Grove homeowners should always stay up-to-date on the condition of their rental. A lot can happen to a house between tenants. You are setting yourself up for costly repairs and surprises if you do not regularly check in.

Lacking Essential Resources – When partnering with Real Property Management Select, we offer a full range of services to our clients. Tenants utilize a personal online portal to pay rent and submit maintenance requests. Homeowners have access to discounted rates on maintenance.

Creating Unnecessary Leasing Delays – Market aggressively. Make it easy for prospective tenants to view your home. Make sure it is rent-ready before any showings.

Need Professional Property Management? Elk Grove Homeowners Use RPM Select

Leave behind the hassles and headaches of managing an investment property. The Elk Grove property management experts at Real Property Management Select can do it all for you. We are committed to making you a successful landlord. Put our experienced team to work for you. Give us a call today.

6 ways to avoid tenants conflict

6 Ways to Avoid Tenant Conflict in Elk Grove Property Management

Being a landlord is a difficult job. You work 24/7 meaning you can’t take off nights, weekends, or holidays. There are many complex components to Elk Grove property management and conflict with tenants is the last thing you need. It is worth your time and energy to be the landlord you would want to have as a tenant yourself.

Tips From Elk Grove Property Management

It is important you treat your rental home as a business investment. Your goal should be to create satisfied customers, and in the end, be profitable. Happy tenants are more likely to respect and maintain your property. With the help of professional property management, Elk Grove investors can better avoid tenant conflict. At Real Property Management Select, we offer a few tips to help you keep the peace.

  1. Set Clear Expectations. The lease agreement should clearly state tenant versus homeowner responsibilities. When every party knows up front what to expect from each other, landlords typically experience fewer tenant confrontations.
  2. Conduct Regular Home Inspections. Emotions can escalate over maintenance repairs, especially costly repairs that could have been prevented with regular upkeep. Home inspections are an opportunity to catch small problems before they turn into big problems.
  3. Anticipate Maintenance Repairs.As a landlord, home repairs can be a source of frustration. If you have the mindset that you won’t need to put money into your rental, you are setting yourself up for disappointment. Rather, know that maintenance requests will come in and definitely don’t take it out on the tenants when they do. Normal wear and tear happen.
  4. Be Respectful. Homeowners are bound to face unruly tenants that cause trouble. Remember to treat your tenants with respect, no matter the situation.
  5. Stay Calm. If you have a personal attachment to your rental home, remaining objective can be difficult. Do not let your emotions get the best of you.
  6. Use a Professional Intermediary. Partnering with an Elk Grove property management company removes you from direct confrontations. Instead, a team of rental experts handles all your tenant interactions, including those frantic midnight maintenance calls. Real Property Management Select is professional property management Elk Grove investors trust to manage those intense moments.

Property Management Elk Grove Landlords Can Rely On

At Real Property Management Select, we understand the rental market. We know how to maneuver the ups and downs of the industry. There is nothing we can’t manage. We want you to succeed. Put our experienced team to work for you. See how our hassle-free leasing cycle and proven processes help you increase your bottom line. Give Real Property Management Select a call today.