Owning and managing a rental house sounds like a great investment. It is. But it is also a lot of work. If it were easy, everyone would be doing it. The hard truth is that landlords who own and manage a rental property often find that they have bitten off more than they can chew. Property management is a 24/7 job that requires availability, professionalism, extensive knowledge, experience, and organization. Many skill sets go into property management and if one skill lacks, the success of the rental property is at stake. Roseville property management experts at RPM SAC-METRO do not want this to be you. SAC-METRO wants to see all property investors succeed, whether it is with or without its services. If you find that your plate is too full single handedly managing a rental property, let us tell you how we can help.
Reduce Turnover and Vacancy
Every day that a rental property sits vacant is money out of a property owner’s pockets. The Department of Numbers found that the median gross rent amount in Sacramento in 2017 was $1,246. The 2018 median gross rent amount is not available until the end of 2019. If a property owner has a single family home located in Roseville, prices are a little higher than Sacramento. Pretend that you own a single family home with 3 bedrooms, 2.5 bathrooms, 1800 square feet, with a large backyard and beautiful upgrades. The rental price on this property could easily be $2,300 per month. That means the property is worth a little over $76 per day. If a property sits vacant for two weeks, that is $1,150 that landlords are missing out on collecting. This is the best case scenario. Roseville property management companies see rental properties sit vacant for weeks or even months. At SAC-METRO, our mission is to rent out houses faster than our competitors, while still finding highly qualified tenants. Data shows that we have the lowest vacancy rates compared to our competitors.
- Aggressive Marketing: Knowing the best places to advertise a rental property is paramount to the success of landlords. At SAC-METRO, our professional leasing staff has marketing down to a science. Posting an available rental property on websites like Zillow, Trulia, Craigslist, and Hot Pads have proven successful, as well as having a company website that allows potential renters to view our available properties. Place For Rent signs in the front yard of the property. Even if a potential renter does not drive by, neighbors will alert friends and family of the available rental in their neighborhood, which increases the amount of people who can share and market for you.
- Work Efficiently: As soon as a tenant turns in a 30 Day Notice to Vacate, landlords must be proactive in the turnover process. Roseville property management teams acknowledge a tenant’s Notice to Vacate with a form that tells them the official move out date, where to return keys, cleaning guidelines, and Security Deposit Disbursement information. Clear communication will help the move out process flow smoothly for both tenants and landlords. When acknowledging a Notice to Vacate, include a form that allows a tenant to opt in to a Preliminary Move Out Inspection. This means that about two weeks prior to vacating, the landlord will enter the property with the permission of the tenant, and conduct an inspection to make notes regarding repairs and replacements that will need to be completed during the turnover process. Preliminary Inspections greatly serve landlords for the better. This allows Roseville property management companies to get all of their ducks in a row. Upon the tenant turning in keys, landlords can already have vendors scheduled to enter and begin work on the property on the first day of vacancy. Work efficiently during the turnover process and schedule vendors back to back so that the home can get rent ready in record time.
- Treat Tenants With Respect: SAC-METRO has a known reputation through the greater Sacramento area for having long term tenancies. It is our priority to treat our tenants the way we would want to be treated. Our team of professionals treats everyone equally, makes themselves available 24/7, communicates clearly with tenants and property owners, and we have a Resident Club Rewards Program. Tenants who pay rent on time each month are invited to join the Resident Club, which offers discounts, deals, and coupons to places that people spend money everyday. Because our tenants are treated with first class customer service, they stay in their rental properties for as long as possible.
Roseville Property Management Tenant Qualifications
Finding the right tenant for a property should be a top priority for landlords. One of the worst decisions that a landlord can make is to lower his or her tenant screening standards just to fill a vacancy more quickly. This can lead to costly results, including eviction. Landlords should require that tenants make a minimum of at least 2.4 times the rental amount. This means that if rent is $2,300, the gross monthly household income of the tenants must be at least $5,520. Requiring a minimum gross monthly household income helps landlords know that tenants can afford to pay rent each month. This leaves enough room to pay for utilities on the house and all other living expenses. Do not accept tenants who have previously had an eviction on their credit check or who owe balances to companies or institutions other than medical or for schooling. Look at credit scores and do not accept an applicant with a credit score lower than 670. Credit scores give insight to property owners and Roseville property management companies, telling them if a prospective tenant pays bill on time and in full. Call and verify employment information and rental history. Doing so will prove that the applicant is employed and that he or she is a respectful tenant.
House maintenance is expensive. Beside the fear of eviction, landlords agree that expensive maintenance and damage to the property top their list of biggest fears when managing a rental property. Expensive maintenance can quickly eat away at months of profit. At SAC-METRO, we advise landlords and clients to set aside the amount of one month’s rent per year to account for maintenance costs. New properties will have lower maintenance costs than old properties. SAC-METRO uses this as a guideline so that maintenance costs will not take a heavy hit to profit margins or catch property owners by surprise. A private landlord pays market price for vendors and repairs. SAC-METRO clients get access to our Roseville property management Preferred Vendor Pricing. We have long standing relationships with many vendors in the area and because of that, we get discounts from the vendors, which we then pass on to our clients. In addition to preferred vendor pricing, proactive maintenance has proven to keep maintenance costs low. Conducting semiannual property inspections helps keep maintenance costs affordable. During our semiannual property inspections, both the interior and exterior of the properties are rigorously inspected. We check for any signs of water damage, pests, proper care of the property, occupancy guidelines, lease agreement compliance, and schedule repairs as necessary.
How SAC-METRO Can Help Investors
Our reliable property management experts have more than 25 years of experience in the industry. We do everything property management from marketing, collections, accounting, inspections, maintenance, leasings, move in and move outs. Our clients can always see updates and information on their rental property through our website’s Owner Portal. Our affordable pricing, shorter vacancy rates, reduced maintenance costs, and long term tenancies make it so that our Roseville property management fees pay for themselves. See the real potential that your investment property has to offer. Call us today.