Why Auburn Property Management Teams Shouldn’t Show Before Prior Tenants Go

Receiving a 30 day notice to vacate from a current tenant can cause anxiety for landlords. “Who will I get as my next tenant? Will they pay on time? What if I have a long vacancy time? With these questions comes the anxiety to try and fill a vacancy as quickly as possible. You may think showing your rental property to new prospects while the current tenants are still living there will save you from having a prolonged vacancy. Auburn property management team, RPM SAC-METRO, warns landlords against doing this.

Pros and Cons to Showing an Occupied Property

Showing your rental property to potential renters while it is still occupied has its pros and cons. Some of the pros include the possibility to decrease your vacancy rate, continued cash flow, and not transferring the utilities into your name. The cons include posing an inconvenience to the current renter, the new prospect sees the previous “stuff” in the house instead of the actual house, damage to the property or unsightly messiness while the current tenant is moving, and the risk of not providing a proper Entry Notice before showing the unit, which causes legal problems. Showing an occupied unit has many factors that come into play in order to make it a successful showing.

Why it’s Best to Wait Until it’s Vacant

Auburn property management teams have found that 70% of rental applications are submitted within the first two weeks of a property becoming vacant. The reason for this is that vacant units show better than ones that are occupied. Residents who are shopping around for a place to rent generally want to move in within the next two weeks to 30 days. If the property is occupied and will continue to be for the next twenty-five days, your prospect is no longer interested. Remember, once the current tenant vacates, you need a few days to get your house rent-ready. As a landlord, it is easier to show a vacant property because you do not have to post an Entry Notice. You also do not have to limit the amount of showings each week, for fear that you will inconvenience the current resident.

If You Can’t Wait Until it’s Vacant

If you cannot wait until the property is vacant to start showing it, protect yourself and keep your current resident happy by following these protocols provided by Auburn property management professionals:

  • Post a Proper Entry Notice: California housing laws state that a landlord or property manager must post a minimum of a 24-hour notice to enter the property to show it to a prospective tenant. If you are managing a large apartment complex and have a vacant unit that looks the same as the occupied one, show the vacant one instead. If you are conducting a Preliminary Move-Out inspection, you must provide your current resident with a 48 hour notice to enter.
  • Limit Your Number of Entries: Try to keep the number of times that you enter the occupied home to a minimum. Be as specific as possible with time frames or extra times that you will be entering. Potential tenants may find it awkward to be in someone’s home while they are there. Or worse, if the resident is just getting in or out of the shower.
  • Be Considerate and Courteous: Whether the current resident is home or not, it is an inconvenience for them to be showing their home to prospective new residents. If the resident is not home, they still likely tidied up the place or if you are lucky, cleaned thoroughly. If they are home, you may interrupt work or family time. Professionals in property management in Auburn have been known to give residents a slight reduction in rent if they agree to show the property while they are still living there. Remember that they are doing you a favor. Showing the home that they are occupying does not benefit them in any way.

What the Top Property Management Auburn Team Does to Avoid Prolonged Vacancy

SAC-METRO is known in the industry for having shorter than average vacancy times. We attribute this to our proven rent-ready process. When a current resident provides our manager with a 30 Day Notice to Vacate, we instantly list the property on our website with pictures, video, and information about the property with a “coming soon” tag. We use previously taken photos and video from when the property was vacant in our advertisements. We compile a list of names for those people who have expressed interest in the property and contact them to schedule a time and date, once the property is vacant, for a showing. At SAC-METRO, you know our goal is the same as yours. Property Management in Auburn has never been so good. Call us today to receive a quote for us to manage your rental property.

Folsom Property Management Team Gives Advice for Tenants

Whether you are a first time tenant or have been renting for years, property management companies in Folsom know that the relationship between landlords and tenants are imperative to having a positive experience in the rental industry. Many factors contribute to a positive experience as a renter or landlord. RPM SAC-METRO has compiled an experienced list of things that tenants can do to maintain a positive relationship with management while they rent.

    1. Pay On Time: Rent collection happens every month and is a tedious task for landlords who manage multiple properties. The last thing property managers want to do is post a 3 Day Notice to Pay Rent or Quit on every door. When you sign your lease agreement with a Folsom property management company, clarify the day each month that rent is due. Mark it on your calendar, set a reminder on your phone, or set up automatic rent payments to make sure you do not forget to pay rent. This saves renters money in the long run because if you fail to pay rent on time, the majority of landlords charge late fees for rent payments. Some charge a flat rate while others charge by the day.
    2. Follow the Rules: Use your lease agreement as an outline to know what your property management company expects of you. Rules vary from landlord to landlord, so read your lease agreement at the time of move in. Lease agreement rules are not only there to protect the landlord, but residents as well. Many property management companies in Folsom have Quiet Hours that state residents must turn down their noise levels from nine o’clock at night until nine o’clock the following morning. While this may seems inconvenient to you if you plan to host a gathering, remember that next time when your neighbor chooses to throw a wild party, you will be rewarded with peace and quiet starting at nine o’clock that evening because of the Quiet Hours which are stated in your lease agreement. Failure to comply with lease agreement rules may result in a warning from management. If you continue to disregard the rules, your landlord may not renew your lease, or worse, have a valid reason to evict you.
    3. Communicate with your Folsom property manager: In every relationship, whether it is professional, friends, or romantic, communication is key to helping any relationship succeed. If you have a maintenance request, call your property manager to relay the information and how soon the request needs to be addressed. A thorough and concerned property manager should send a technician within 24 hours for minor maintenance, and immediately for a maintenance emergency such as a flood or fire. Living in a rental property can be difficult when you would like to decorate the house to make it your own. If there is a wall that you want to paint or pictures you want to hang, refer to your lease agreement for appropriate rules or call your property management team in Folsom to get their written permission before you proceed.
    4. Show Respect for Your Home: Consider this: if you owned the home yourself, would you do it? Too often tenants treat rental properties with disrespect simply because they do not own the home. They allow the landscape to take a turn for the worse and become overgrown with weeds, they allow their children to draw on the walls with markers, they fail to report a pest control infestation or a slow leaking pipe causing water damage to the flooring and sheetrock. All of these actions, or failure to take action, cause damage to the property creating lasting and costly problems. Show respect for your rental and your landlord or Folsom property management team will show even greater respect and gratitude for you. Keep in mind, many rental homes were once owner occupied and carry a sentimental value to those homeowners.

Folsom Property Management is an Investment and a Game

Just like learning how to play a new board game with friends on Sunday night, learning how to be a good tenant is like playing a game. Learn the rules by reading and understanding the lease agreement. Play by the rules and work together with your team, the property manager, and everybody wins and has fun. Landlords are typically renting out their house as an investment. They are hoping and planning on making income off of renting it out. When tenants fail to report maintenance requests or cause damage to the property on purpose, it hurts the bottom line of the landlord and often results in the tenant paying for the damages. Care for your rental in order to save yourself money. Good tenants are rewarded. Call your property management Folsom team, SAC-METRO, today to see how you can get into one of its rental houses.

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 SAC-METRO, 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, SAC-METRO, 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. SAC-METRO 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. SAC-METRO 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 SAC-METRO a call today.

Why Studies are Showing People Renting Instead of Buying

It may seem surprising, but multiple research studies conducted by Zillow and NYU show that people are choosing to rent instead of buy houses in major cities across America. Whether they choose to rent or are forced to rent due to affordability, the research results tell the facts. The facts that allow real estate investors like you to make more money. The stigma of renting has adapted to a positive light as renters find they can get more space for their money than with buying in a market with pre-recession prices. If you are looking to get into the rental property management Sacramento scene, there is a lot of money to be made off renters.

Major Cities that Saw Increases in Renters

A study conducted by Zillow researchers found that the amount of renters versus homeowners in America from 2006 to 2016 increased overall by 5 percent. Of the top 50 urban areas in America, 29 of them were made up of a majority of renters. That is more than 50 percent. Below is a list of the largest metro areas in the United States and the percentage of renters in 2016 in the urban area, as well as the increased percentage of renters between 2006 to 2016:

  • Albuquerque, New Mexico – Renter Rate: 39.6 percent, increase of 0.9 percent
  • San Francisco, California – Renter Rate: 62.1 percent, increase of 1.4 percent
  • Austin, Texas – Renter Rate: 55.1 percent, increase of 2.4 percent
  • New York City, New York – Renter Rate: 68.0 percent, increase of 2.4 percent
  • Omaha, Nebraska – Renter Rate: 43.4 percent, increase of 2.4 percent
  • Arlington, Texas – Renter Rate: 44.5 percent, increase fo 2.6 percent
  • Oklahoma City, Oklahoma – Renter Rate: 40.8 percent, increase of 2.9 percent
  • Fresno, California – Renter Rate: 53.5 percent, increase of 3.3 percent
  • Houston, Texas – Renter Rate: 56.9 percent, increase of 3.3 percent
  • El Paso, Texas – Renter Rate: 42.1 percent, increase of 3.4 percent
  • Fort Worth, Texas – Renter Rate: 42.9 percent, increase of 3.4 percent
  • Boston, Massachusetts – Renter Rate: 65 percent, increase of 3.6 percent
  • Los Angeles, California – Renter Rate: 64.1 percent, increase of 4.1 percent
  • New Orleans, Louisiana – Renter Rate: 53.7 percent, increase of 4.4 percent
  • Raleigh, North Carolina – Renter Rate: 50.9 percent, increase fo 4.4 percent
  • Tucson, Arizona – Renter Rate: 49.5 percent, increase of 4.4 percent
  • Sacramento, California – Renter Rate: 52.4 percent, increase of 4.5 percent
  • San Diego, California – Renter Rate: 54.3 percent, increase of 4.8 percent
  • San Jose, California – Renter Rate: 43.1 percent, increase of 4.8 percent
  • Baltimore, Maryland – Renter Rate: 54.3 percent, increase of 4.9 percent
  • Portland, Oregon – Renter Rate: 48.0 percent, increase of 5.1 percent
  • Tulsa, Oklahoma – Renter Rate: 50.7 percent, increase of 5.3 percent
  • Oakland, California – Renter Rate: 61.7 percent, increase of 5.4 percent
  • Chicago, Illinois – Renter Rate: 56.3 percent, increase of 5.6 percent
  • Denver, Colorado – Renter Rate: 50.0 percent, increase of 5.6 percent
  • Long Beach, California – Renter Rate: 62.3 percent, increase of 5.7 percent
  • Seattle, Washington – Renter Rate: 53.9 percent, increase of 5.8 percent
  • Dallas, Texas – Renter Rate: 59.2 percent, increase of 5.9 percent
  • Baton Rouge, Louisiana – Renter Rate: 53.2 percent, increase of 6.0 percent
  • Miami, Florida – Renter Rate: 69.9 percent, increase of 6.1 percent
  • Philadelphia, Pennsylvania – Renter Rate: 47.9 percent, increase of 6.1 percent
  • Jacksonville, Florida – Renter Rate: 43.4 percent, increase of 6.4 percent
  • Kansas City, Missouri – Renter Rate: 47.0 percent, increase of 6.4 percent
  • Columbus, Ohio – Renter Rate: 56.0 percent, increase of 6.5 percent
  • Washington, D.C. – Renter Rate: 60.8 percent, increase of 6.5 percent
  • Nashville, Tennessee – Renter Rate: 47 percent, increase fo 6.7 percent
  • Colorado Springs, Colorado – Renter Rate: 42.5 percent, increase of 6.9 percent
  • Indianapolis, Indiana – Renter Rate: 47.6 percent, increase of 7.0 percent
  • Milwaukee, Wisconsin – Renter Rate: 59.2 percent, increase of 7.0 percent
  • San Antonio, Texas – Renter Rate: 46.4 percent, increase of 7.2 percent
  • Minneapolis, Minnesota – Renter Rate: 53.3 percent, increase of 7.4 percent
  • Virginia Beach, Virginia – Renter Rate: 37.8 percent, increase of 7.4 percent
  • Phoenix, Arizona – Renter Rate: 47 percent, increase of 7.5 percent
  • Cleveland, Ohio – Renter Rate: 58.2 percent, increase of 7.7 percent
  • Charlotte, North Carolina – Renter Rate: 47.8 percent, increase of 8.2 percent
  • Atlanta, Georgia – Renter Rate: 58.7 percent, increase of 8.3 percent
  • Mesa, Arizona – Renter Rate: 40.7 percent, increase of 8.5 percent
  • Honolulu, Hawaii – Renter Rate: 58.3 percent, increase of 9 percent
  • Las Vegas, Nevada – Renter Rate: 47.3 percent, increase of 9 percent
  • Memphis, Tennessee – Renter Rate: 56.1 percent, increase of 11 percent

While the above list is mind-boggling at the percentage of people renting in major cities in 2016, it goes to show that housing prices are too high for people to afford to buy. They are choosing a lease over a loan. Rental property management in Sacramento proves to be an ideal investment and business venture with more than half of the residents identified as renters. Over a ten year period from 2006 to 2016, it saw a 4.5 percent increase in renters. Experts predict this number to increase as home prices are continuing to climb while inventory stays low.

Cities with the Most Shocking Numbers in the Rental Market

In the 2016 research study mentioned above by Zillow, the cities with the most shocking percentages of renters include San Francisco, New York City, Boston, Los Angeles, Oakland, Long Beach, Miami, and Washington, D.C., all coming in at over 60 percent. Notice that 50 percent of these aforementioned cities are located in California, where the rental market is strong. Memphis, Tennessee takes the cake with the highest percentage increase of renters from 2006 to 2016 with an 11 percent increase. The runner-ups were Las Vegas and Honolulu with a 9 percent increase.

Why are Housing Prices So High?

Sacramento rental property management companies have studied the reasons why housing prices are so high, making it unaffordable for even the first-time home buyer looking at a starter home. A Housing Outlook released by Forbes.com noted that a senior economist with Zillow ties the increased housing prices to a “tightened inventory, rise in prices, mortgage rates barely budging, and while new construction picked up at the end of 2017, it wasn’t at the starter price points where it was needed.” Economists also note that home prices are rising more quickly than wages, salaries, and inflation, tilting the more desired option for housing towards the rental market instead of home-ownership.

Sacramento Rental Property Management Going Strong

As the majority of residents in Sacramento continue to rent (at a 52.4 percent rate), real estate investors can feel confident in their investment and know that their financial portfolio is strong. While housing prices are at a high, there is still money to be made by purchasing a rental property. The demand for rentals is high enough in the area that landlords can still find high quality tenants. RPM SAC-METRO is the expert rental property management company in Sacramento and helps landlords avoid the headache of managing a real estate portfolio. Sit back and relax while SAC-METRO takes on the management side. Call us today.

Investing: Why Choose Single Family Homes Over Multi-Family Housing

You made the wise decision to invest in real estate, a portfolio that will leave your financial goals limitless. If you have already done your research, you have decided which type of property to purchase. If you are at the beginning stages of deciding to invest, let the experts of the top Sacramento property management company, RPM SAC-METRO offer their experience and research.

Why Single Family Over Multi Family?

Each has its pros and cons, but the answer is simple when it comes to making money. Single family homes make more rent money than an a single apartment or condo. You have a greater rental price markup for single family homes when you choose it as an investment over an apartment or condo. However, the tables turn when purchasing a duplex, triplex, or fourplex. When looking at vacancy rates, single family homes have higher occupancy rates and less turnover than multi family housing. This is generally due to the fact that the target audience for single family homes are families, with a few children. These children are enrolled in local schools, which entice the families to put down roots for longer periods of time than those who rent smaller spaces, like apartments, which have the flexibility to be more transient. Mortgage lenders see single family homes as lower risk investments than apartments. This is due to the fact that if the economy takes a turn for the worse, single family homes hold their value better than condos and apartments. Lenders accept lower down payments and will give lower interest rates to owners of a single family home over a multi family complex.

What Do Renters Look For In a Rental?

Sacramento property management companies know it is not rocket science when it comes to guessing what potential renters look for in a house. Aside from “location, location, location,” prospective tenants searching for single family homes typically want three bedrooms and two to three bathrooms. These clients usually have a couple children and desire a fenced backyard, close proximity to good schools, and a relatively quick commute to work. Many of the single family home renters are millennials which range in age from twenty-nine to thirty-six, which are in childbearing years, leading them to seek homes with multiple bedrooms. Millennials like modern, open floor plans, so if you are searching for an older home that does not offer an open floor plan, consider searching for a newer home if your budget allows, or find an older home that either already offers an open floor plan, or one that can be altered into an open concept for a relatively affordable price. Do your research on the schools in the neighborhood you are looking to buy. Schools with good reputations can easily sway a renter in the direction of your investment property.

How Sacramento Property Management Companies Capitalize on Technology

Single family home renters are made up of mostly millenials who, as property management companies know, are glued to their technology devices. According to a National Multifamily Housing Council 2017 study, 43 percent of residents who live is rental homes are in single family homes, while 36 percent reside in communities that offer five or more units for rent, meaning large apartment complexes. SAC-METRO knows how to reach the target audience in the 43 percent. The quickest and easiest way to reach prospective tenants is to advertise your single family home rental online, across multiple websites. Some of these include Zillow, Trulia, Hotpads, Craiglist, Facebook, and local classifieds within your community. The more platforms you advertise with, the more quickly you will fill your vacancy with high quality tenants. Some Sacramento property management companies are even using technology to their advantage by taking it one step further and utilizing smart entry, allowing prospects to “show themselves in.” Using smart access technology allows management companies to let vendors and technicians into the property during the turnover process to make repairs and updates to the property.

Is There Room for Growth?

The United States Unemployment Rate is holding steady at a 49 year low. As more Americans are employed and their incomes rise, the more house they can afford to rent. The U.S. economy on a whole is healthy and job wages are continuing to increase. Sacramento property management companies and investors alike see that mortgage lenders have tightened the parameters on borrowers, steering those in search of a home toward renting rather than purchasing a home. Housing prices are and have been highly inflated during the 2017 and 2018 calendar years and housing experts do not expect housing prices to drop until at least 2020. This means prospective renters of single family homes still need a place to live, but cannot afford to buy, yet. Real estate investors should capitalize on the rental market while they still can.

Invest with a Single Family Home Purchase and Hire SAC-METRO

If you are interested in growing your financial portfolio, investing in a single family rental home may be the right choice for you. The leader of Sacramento property management companies, SAC-METRO, has your back from the beginning to the end. SAC-METRO has over 35 years of experience in everything from advertising, to qualifying tenants, to managing the property, to the turnover process, to rent collection, and much more. It is a one-stop-shop for successful property investors. Call us today.

What Landlords Need to Know About Tenants with Animals

You have heard the saying, “A dog is a man’s best friend.” It is no secret that people love their pets. In fact, a Zillow research study found that 41 percent of renters list allowing pets as a requirement. Pets come with pros and cons. If you allow pets, you open up the rental field to more potential renters. On the flip side, if you allow pets, you open your home up to risk of damage – – urine on your carpets, damage to baseboards if they have a puppy, lawn damage, and much more. What if someone has a service animal? This is a whole different ball park. Service animals cannot be discriminated against. There are many laws you must follow if you receive an applicant with a service animal. Rancho Cordova property management team, RPM SAC-METRO want landlords to be successful and avoid lawsuits. Below you will find answers to your questions regarding pets versus service animals.

What is the Difference Between a Pet and a Service Animal?

Let us be clear, a pet is not a service animal. And a service animal is not a pet. According to Title II and Title III of the Americans with Disabilities Act (ADA), a service animal is any dog that is individually trained to do work or perform tasks for the benefit of an individual with a disability, including a physical, sensory, psychiatric, intellectual, or other mental disability. These tasks include pulling a wheelchair, alerting a person to sound, picking something up when dropped, pressing a button, or alerting a person to take medication. An emotional support animal is not a service animal. Rancho Cordova property management experts want to be clear that the work or tasks performed by a service animal must be directly related to the individual’s disability. A doctor’s note is not sufficient to claim a dog as a service animal. The following list of service animals that fit the ADA description include:

  • A guide dog or a seeing eye dog (severe visual impairments or blindness)
  • Hearing or a signal dog (hearing loss or deaf)
  • Psychiatric service dog (reminder to take medicines, turning on lights, PTSD, etc)
  • Sensory signal dog (autism)
  • Seizure response dog (seizure disorders)

Remember, if a rental applicant lists that they have a service animal, you cannot inquire as to why. The person with the disability cannot be asked about the nature or extent of the disability. They can only be asked the following two questions:

  1. Is the animal required because of a disability?
  2. What work or task has the animal been trained to perform?

These questions should not be asked if the answer is obvious.

A pet is a domestic animal kept for companionship or pleasure. Rancho Cordova property management teams too often see people trying to pass off their pets as service or therapy animals.

Service Animals and Housing Laws

A landlord or professional management teams cannot discriminate against a person with a service animal. Under the Fair Housing Act, a landlord or homeowner’s association must provide reasonable accommodation to people with disabilities so that they have an equal opportunity to enjoy and use a dwelling. While emotional support animals are not protected under the ADA, they can be considered as reasonable accommodations under the FHA.

If landlords do choose to allow pets on the property, they can charge a pet deposit upon move in. A normal pet deposit ranges between $200 and $500. This protects the property owner if damage is done by the pet during the time that it resided at the property. Charging an extra deposit, however, is illegal when it comes to a service animal. Property management Rancho Cordova teams can ask a person to certify the following when accepting an application from a tenant with a service animal:

  1. that the tenant or a member of his or her family is a person with a disability
  2. the need for the animal to assist the person with that specific disability
  3. that the animal actually assists the person with a disability.

Landlords may not set weight, size or breed restrictions on service animals.

Rancho Cordova Property Management Rights

Landlords are permitted to exclude a service animal if it causes a fundamental alteration of the goods and services provided to other tenants, or if the animal poses a direct threat to the health and safety of other tenants. Examples include a barking dog that keeps other tenants awake during the night or fecal matter left in the common area without getting cleaned up by the owner. Property management teams must document the evidence of these nuisances when they occur in order to exclude a service animal from the property. If you have any questions regarding service animals on your property, contact a lawyer.

The Bottom Line

Property management Rancho Cordova teams cannot discriminate against persons with service animals. They can choose to allow pets or not. They can charge for a pet deposit, but not for a service animal deposit. Landlords cannot inquire as to why the applicant or tenant needs a service animal. They can ask if the animal is required because of a disability or inquire as to the work or tasks that the animal has been trained to perform. Landlords cannot require a demonstration from the animal. If you have questions regarding a service animal on your property or renting to someone who has a service animal, contact your lawyer.

How Rocklin Property Management Protects Your Rental Home

Each year homeowners claim hundreds of millions of dollars worth of damage to their homes. Whether your home is brand new or old, it is still susceptible to water, wind, hail, theft, and fire damage. When this damage occurs, it will not only cost you a pretty penny, but it could displace your family, or your renters, for a significant amount of time. That is why Rocklin property management company, RPM SAC-METRO, has put together a list of the most common reasons that homeowners file insurance claims and how you can protect yourself against them happening in the first place.

The Most Common Reasons Homeowners File Insurance Claims

Windstorms

According to Travelers Homeowners Insurance data over an eight year period, windstorms take the lead by accounting for 24 percent of all annual losses. That is nearly one-quarter of all claims.

  • Short term solutions to better protect homeowners consist of pruning trees to prevent them from overgrowing and falling onto rooftops. According to the Insurance Institute of Business and Home Safety, tree-related windstorm damage causes hundreds of millions of dollars worth of damage each year.
  • Long term solutions may include the IBHS FORTIFIED Home Program. By hiring the IBHS FORTIFIED home building team, you can build a home that is reinforced and can withstand hurricanes, high winds, hail, and severe thunderstorms. The experience FORTIFIED team uses reinforcements on both new and existing homes to tape roof deck seams, achor porches, decks, carports and other attached structures, and anchoring the roof to the exterior wall and the wall of the house to the foundation.

Water damage, Non-Storm Related

This accounts of 20 percent of all claims to Travelers Homeowners Insurance Company. It is made up of water damage caused from leaking pipes, water heaters, refrigerators, air conditioning units, and washing machines. Rocklin property management companies are all too familiar with water damage that is not storm related. SAC-METRO takes preventative steps to make certain any sign of a leak is discovered and repaired before it becomes a flood.

  • Short term solutions to protect your home against flooding including conducting regular annual or semi annual inspections of your appliances, hoses, and fittings to check for leaks or corrosion. Fix any leaks immediately. If you plan to be away from your home for an extended period of time, shut off the main water line and drain the pipes.
  • Long term solutions include purchasing sensors that detect water and signs of a leak at the appropriate locations in your home including behind the refrigerator, water heater, washing machine, and dishwasher.

Hail

Damaged caused by hail makes up 16 percent of all homeowners insurance claims. While property management Rocklin companies do not usually see much hail in this area of the country, the Midwest receives usual hail storms during tornado season with hail as large as the size of baseballs.

  • Short term solutions include removing patio furniture from outside and placing it under a covered area, like a carport or garage. Park your vehicles inside a garage of under a parking structure.
  • Long term solutions include getting your home IBHS FORTIFIED. You can click here here to see if your home is in a hail-prone area. If it is, IBHS can provide homeowners with a high impact roof covering.

Water Damage, Weather-Related

Melting snow, flash flooding, severe rain and thunderstorms, and ice damage make up 11 percent of national homeowners insurance claims.

  • Short term solutions that can protect your home include clearing rain gutters, storm drains, and inspecting your roof to ensure all shingles are in good condition. The Rocklin property management team at SAC-METRO has adopted semi-annual property inspections to clear rain gutters of debris and inspect the property to ensure it is weatherproof.
  • Long term solutions include installing a waterproof membrane under your roof to prevent water from leaking in, insulating your attic to prevent ice-dams, and insulating water pipes to prevent them from freezing during the winter months.

Protecting Your Home Against Theft With Rocklin Property Management

Theft and burglaries account for 6 percent of insurance claims.

  • Short term solutions to protect your home include closing and locking windows, doors, gates, and garage doors. Refrain from hiding spare keys outside and if you are going to be away, talk to a neighbor about collecting your mail from your mailbox for you and bringing in your trash cans after trash day.
  • Long term solutions include installing a security system with alarms, cameras, lights, and even a live monitoring agreement with the security system of your choice. Manicure your yard to prevent overgrown trees and shrubs which provide a good hiding place for thieves. Property management Rocklin experts have found that installing motion sensor lighting, hanging curtains on windows that can be easily viewed from the street, and getting to know your neighbors can be helpful in preventing unwanted visitors at your property.

SAC-METRO wants your house to be a safe and secure haven for you and tenants. Call SAC-METRO today to see how we can provide you with the physical and financial security of your home.

Why You Should Rent with Roseville Property Management Instead of Buy

You have been anxiously saving and working hard for years in order to purchase your first house. The time has finally arrived and you have all your ducks in a row. But when you start shopping for homes to purchase, you recognize the housing market does not have all its ducks in a row. You find it is cheaper to rent than buy. You are immediately discouraged and angry by this reality check because the amount of house you can afford to buy is smaller than what you can afford to rent with Roseville property management. Before you spiral down into deep sadness, remember there is a bright side to this dark side. You can reinvest the savings you will gain from renting and continue to grow your financial portfolio so you can afford a bigger house once the housing market shifts back in your favor.

Why the Shift in Housing Prices?

The recent acceleration in housing prices can simply be described as a classic economic supply and demand imbalance. Too much demand and too little supply. This imbalance has shifted the desired housing choice back in favor of renting a house with Roseville property management instead of buying. With low housing supply, buyers create bidding wars, driving up home prices and decreasing affordability to median-income families. Low interest rates on mortgages also drive up home prices. On the flip side, the market generally sees housing prices drop as mortgage interest rates rise. In a recent study performed by Zillow, 100 real estate economist experts claim by a 43% plurality vote that the housing market will shift back in 2020 to a buyers market. By that time, the supply of houses for sale should exceed the demand, making home-buying affordable again and abolishing bidding wars.

Research to Show Renting with Roseville Property Management is Better Than Buying

A study performed by Realtor states that the monthly costs of owning a home that you live in are up 14 % over the past year, which is more than three times the annual increase in rent prices on a national level. It states that rent prices are only up 4% annually.

New research from Florida Atlantic University and Florida International University faculty have found that the housing markets where it still might be cheaper to buy than rent can be found in much of the Midwest and Northeast, specifically Chicago and Cleveland. Otherwise, markets along the coasts including Miami, Los Angeles, San Francisco, Seattle, Atlanta, Dallas, Denver, and Houston are a renters market.

In May, a separate study performed by Zillow and Pulsenomics found that half of the economists polled predict a recession in 2020. The market is about as high as it was at its inflated peak in 2006. The housing market cannot go too much higher at this point.

According to a report released by Attom Data Solutions, Quarter 2 of 2018 saw a 6.3 percent increase in the national average home price for both single family homes and condos compared to one year ago. The new average home price is $255,000. While that is a new all-time high, it is also the slowest annual appreciation since Quarter 2 of 2016.

What You Can Do with Your Extra Savings from Renting

It is not just cheaper to rent with Roseville property management, it may also now be a better investment. New research from Florida Atlantic University and Florida International University faculty have found that renting and reinvesting the savings from renting will outperform, on average, owning and building home equity. This is in terms of wealth creation. That is the first time renting outperforms buying since 2010. If the average American home price is $255,000, a 20 percent down payment is $51,000. Whatever amount you have already saved for your down payment, build on it. Try investing the savings you get from renting into a brokerage account that tracks the market. Property management Roseville companies say you should find an investment where you can hope for a 7 percent annual return. Research shows that homeowners typically spend 1 percent of the value of the home doing repairs, annually. That means on a $255,000 home, a homeowner spends $2,550 per year on repairs that renters do not have to pay. Save that amount and invest it.

Homeownership Isn’t All it’s Cracked Up to Be

When you think about forking out a hefty down payment, paying thousands and thousands of dollars of interest on a home mortgage for many years, maintaining the home on your own dime, and paying a premium price in this market, you will quickly see that renting with SAC-METRO is the smart way to go. Property management Roseville companies do not require a downpayment, just a rental deposit. There is no interest on your rent and we take care of maintenance for you. Give SAC-METRO a call today to see how we can set you up for success, so you can make the move once the housing market settles down.

Why Rent Out Your House with Property Management Instead of Selling

Let’s say you’ve been a homeowner for 15 years, raised children in your home, held down a good and steady job in the community, made memories to last a lifetime, and cared meticulously for your home over the years. As time has passed, you’ve either outgrown the home as you have welcomed new babies or are ready to downsize as your children have moved out and grown up. Maybe after all those long years of hard work, it’s time to retire in a comfortable climate that promotes the desired lifestyle of laying by the pool, golfing, shopping, and visiting grandchildren. Or perhaps you are ready to upgrade your starter home. Whatever your circumstances, Sacramento property management company, RPM SAC-METRO, urges homeowners to carefully consider the decision of renting out your home versus selling.

Principal, Interest, Down Payments, and Closing Costs

During the first part of a 30 year mortgage, most of the money in your monthly payment goes to pay down the interest. Very few dollars go towards the principal of the loan amount. Of course this is dependent upon the length of the term, your interest rate, and down payment. Don’t let all those years of paid interest go down the drain. You made the monthly mortgage payments, now let someone else make them for you until the house is paid off.

Remember that large lump-sum of money you transferred from your bank account all those years ago the day you closed on the house? Down payments and closing costs account for a big amount of the money you spent on your home. Closing costs typically range between five and ten thousand dollars, which have nothing to do with the equity you gain your home. Selling your home, when you don’t need the cash to purchase another property, would be unwise.

Building Wealth and Equity Through Tenants

Sacramento property management companies know that purchasing an owner occupied property and living in that property for a few years works in your benefit if you plan to build wealth with real estate investments. Interest rates for owner occupied homes are directly affected by credit score, the type of investment property, and your down payment. Let’s pretend your interest rate would be 4.5 percent for an owner occupied residence. However, if you choose to buy a house with the immediate intent of renting it out, you could plan on an interest rate closer to 5.0 – 5.25 percent for a single family residence. This proves the benefit of property management in Sacramento, CA, when choosing to rent out your once owner-occupied home, and transition it into a tenant-occupied home. Lower interest rates.

Few things are as wonderful as having someone paying for equity in a house for you. As your tenant makes the required monthly payment, you are getting further along in your quest to build wealth in the real estate market. Put simply, your tenants are buying a house for you. If you eventually choose to sell the home, you get all the equity back, not the renters. Homeowners who transition their homes into investment properties must ensure the rent amount covers the all home expenses, as well as protects you during vacancy times. If it does not, you may reconsider your option to rent.

Some Things to Consider in Sacramento Property Management

Is it Profitable? If only it were as easy as collecting an on-time rent check once a month, renting out your house would be a piece of cake. Unfortunately, it’s not that easy. That’s why property management companies exist. They do the dirty work for you, sometimes quite literally. Before choosing to rent your your home, it is crucial to do market research to determine the rent rate you could ask for your property. Your asking rent rate must be sufficient to cover the principal and interest (mortgage), HOA fees, taxes and insurance, maintenance, advertising, vacancy, and Sacramento property management fees. If your asking rent rate covers these expenses and more, you are looking at a positive cash flow rental property – the best of all worlds.

How’s the Market? Just like home prices, the rent market has been on the rise in recent years. Some housing markets seems almost fail-proof with rising numbers – the Bay Area and Sacramento markets being some of them. Some homeowners feel the need to make big repairs to their home before selling in order to get top dollar, but when you choose to rent out your home, time is on your side. If you are short on funds right now, you might have the money for the repairs in six or twelve months. Renting out your home for now would allow you time to save for those repairs. And who knows, you might like renting out your house so much, you keep the property as a rental forever.

Are you coming back? In the fast-paced world we live in, we sometimes feel the need to make life altering decisions immediately. Decisions like, “should I sell or rent my home?” This decision should not be a hasty one. However, many homeowners relocate for jobs or retirement, and do not know where the next turn in the road will take them. They like the security of knowing they have a “home” to go back to, if things do not work out elsewhere. Selling and purchasing another home incurs costs. You save money and gain more equity in your home when you choose to rent it out with companies who specialize in property management in Sacramento, CA, like SAC-METRO.

Let someone else build your wealth through real estate investments by choosing to rent out your home with our expert team at SAC-METRO. Call us today.

Why You Shouldn’t DIY in Sacramento Rental Property Management

The DIY fad has been on the rise since the birth of the internet, finding ways to save yourself money by doing-it-yourself. While projects can be fun and get your creative juices flowing, you don’t want a property management project. Take it from real estate investors who have learned the hard way, or should we say, the “do-it-yourself way.” RPM SAC-METRO has found that DIY in property management most often leads to stress, loss of sleep, endless internet research on how to fix things when they break, and time-intensive research on how to adhere to the housing laws to avoid lawsuits.

Time is Money

Time is your most valuable asset. Think about it—you can always get more money, but you cannot get more time. Time is limited. Time is what gets stolen away from you when you choose to be a DIY landlord. It sounds harsh, but it is reality. Sacramento rental property management does not take vacations or holidays. It comes knocking on your door at 3:00 AM when you have to get up for work at 6:00 AM during a weekday. Or on the weekend when it’s your only day to sleep in. It calls your cell phone on Christmas morning while your family is wrapped up in the magic and tearing open presents. It comes emailing even when you are sitting on the beaches of Bora Bora with your sweetheart soaking up the warm sun and smell of coconut sunscreen.

Everything from inspecting the property on a tenant move-out to scheduling maintenance to paying vendors and ensuring they completed their work to advertising of the property, conducting property showings, proper tenant screening, lease agreement signings, collection of rent payments, chasing down rent payments when a tenant doesn’t pay, maintenance, and handling of the finances all takes time and energy. In addition, tenants want a landlord who is available. Allowing yourself to be available at all times helps with tenant retention and encourages renters to take better care of your property. Do you have time for all of this? If so, be our guest and DIY in the property management industry. If you’re like most people, you may reconsider and hire a Sacramento rental property management team, like SAC-METRO.

Be Friendly, But Not Friends

Finding a balance between good cop and bad cop can be difficult. You want your tenants to like you, but you also need them to respect you and the lease agreement rules. That’s why it is wise to be friendly, but not friends, with your tenants. Sometimes this can be a thin line in rental property management. Sacramento investors should think of their rental property as a business, and not as a personal asset. When you have the business mindset, you can easily stick to your lease agreement rules. For example, what will you do when your tenant comes to you and says they lost their job and their car broke down last week, leaving them with no money left to pay rent. While the sympathetic personal side of you will want to say, “I’m sorry to hear this. Please pay when you get your next paycheck,” the business side of you will say, two weeks down the road, “Where is that rent check? I never should have bent the rules like this.” Always follow the lease agreement rules and treat all tenants the same way. If you do not have the strength or firmness to be strict and follow your lease agreement rules, it would be wise to find a management team. Bending the rules for one tenant, but not the other, can lead to discrimination lawsuits.

Follow Sacramento Rental Property Management Laws

Failing to follow the housing laws, can lead to endless hours of stress, loss of money, and time in court. A recent lawsuit filed by The U.S. Department of Urban and Housing Development (HUD) against Facebook claims that the social media website which also allows users to advertise items for sale, including rental properties, was participating in housing discrimination. In the press release, HUD claims that rental property owners were able to control and select which types of Facebook users could see their ads, discriminating against race, color, religion, sex, familial status, national origin, disability, and zip code, all of which are protected classes under the Fair Housing Act.

Failure to treat all persons equally is a quick way to land yourself in court in rental property management. Sacramento rental properties are often patrolled by “secret shoppers.” These “secret shoppers” pretend to be interested in your property, but they are undercover agents for companies looking to file discrimination lawsuits against property owners and management companies who may be discriminating against protected classes of people. This is why it is so important to treat everyone equally when showing properties, accepting applications, and during tenancy. With so many housing laws, it is difficult to stay educated on all of them. SAC-METRO participates in regular education courses to stay informed on all local, state, and federal laws.

Save Yourself a Headache, Hire SAC-METRO

SAC-METRO’s management fees are so reasonable, they practically pay for themself. Our vacancy rates are lower than our competitors and our tenant retention is exemplary. We save our property owners time, money, stress, and the risk of lawsuits. Keep your rental property safe. Call the top Sacramento rental property management team, SAC-METRO today to receive a quote for service.