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. 

Rental Property Management Sacramento Resident Club: Select Rewards Tenants Who Pay Rent On Time

Screening applicants as potential tenants for rental properties takes time, research, and upholding rigorous standards. Some landlords fall victim to lowering application standards just to fill a vacancy. Real Property Management Select strongly advises against lowering standards in order to qualify someone who would not normally qualify for a rental property. Rigorous tenant application screenings can protect real estate investors against evictions, tenants who do not want to live the lease agreement standards and rules, and it can protect against tenants who fail to pay rent. No matter how thoroughly a property manager screens a tenant, there is always a risk that they might not pay rent on time. What if Select could come up with a way to encourage a tenant, no matter his or her previous track record, to pay rent on time? A way for him to receive money back into his pockets, so that paying rent on time each month, saved him money? There is a way. Rental Property Management Sacramento company, Select, has started rewarding tenants for on time rent payments made online. Here is how it works and serves as a win-win situation for tenants, investors, and property management companies.

Sign Up for Tenant Portal

When a tenant signs the lease agreement and receives the keys to a rental property, a friendly leasing agent with Select will set up login information for our tenant to gain access to our online tenant portal. Through the tenant portal, residents are able to request maintenance, see payment history, and pay rent online. Tenants can also set up recurring rent payments. This prevents the hassle and stress that renters feel each month to remember to pay rent to property managers or landlords. Set up an automatic withdrawal from a bank account, and say goodbye to setting alerts and marking your calendar to remind yourself to pay rent. When tenants pay rent through the online tenant portal, they will be prompted to click a link and sign up for the Resident Club. Clicking on this link allows tenants to unlock hundreds of beneficial savings through coupons and discounts, courtesy of your rental property management Sacramento team.

Resident Club

Upon signing up for the Resident Club, tenants will be asked a series of questions to help determine how much money can be saved annually. Some of the questions are as follows:

  • How often do you eat out at restaurants each week?
  • How many times a year do you attend a theme park?
  • How often do you attend the movies?
  • How much money do you spend at the grocery store each week?
  • How many times per year do you do activities like laser tag, bowling, or mini golfing?
  • How many pairs of shoes do you buy each year?
  • How much money do you spend on clothing each month?
  • How often do you buy flowers or chocolates for loved ones?

By answering these questions, the Resident Club software system can calculate the amount of savings that residents can expect annually, by utilizing the Resident Club program. It is free and pays you to use it. Signing up for the Resident Club presented by rental property management Sacramento companies is a no-brainer.

Coupons and Discounts 

Residents who pay rent on time can expect to see coupons and discounts for as much as fifty percent off retail prices. The coupons will allow tenants to save hundreds of dollars, even up to thousands of dollars, while grocery shopping for everyday items like yogurt, milk, bread, cereals, and meat. Just present the coupon to the cashier prior to payment and start seeing the savings. If you are venturing out to a theme park with family or friends, check the Resident Club coupons and discounts for savings on admission tickets. Some tenants report seeing theme park tickets for Buy-One-Get-One-Free or Buy-One-Get-One-50% Off. Take that extra savings and buy some Dip-N-Dots and churrors once inside. Select’s rental property management Sacramento team wants to provide affordable fun for all responsible tenants that pay rent on time. If you are heading out for a fancy night out on the town, be sure to scroll through the restaurant deals and coupons. Every caliber of restaurant can be found on the Resident Club including fast food, casual dining, or luxurious restaurants. With more than sixty-five thousand restaurants participating in the Resident Club nation-wide, you are certain to find what you are looking for, at an affordable price. Ring up some savings when shopping online or in the store for clothes, accessories, or shoes. With more than thirty-five thousand retail merchants, tenants can always find the right item for less. 

Estimated Savings

Depending on how residents answer the above questions on the Resident Club website will depend on how much money they can save annually through their rental property management Sacramento company. The savings calculator estimates the following savings if your answers are similar to the following:

  • Eats out five times a week, this includes lunch and dinner combined
  • Plays mini golf, bowling, or laser tag six times a month
  • Purchases six theme park tickets a year
  • Buys five pairs of shoes per year
  • Orders flowers or chocolates three times a year
  • And buys five DVD’s annually

This amounts to a total of $4,000 in savings per year. That is a lot of money. Capitalize on the savings that are at your fingertips by renting with Select. 

Search Near You

When you are on the go and searching for a place to eat, the Resident Club allows tenants to search for retailers by zip code or alphabetically. Just download the Purqz app on your iPhone or Android device. You can search for locations within twenty-five miles of your current location and find coupons to local and national chains. It takes just a few seconds to download the app to your phone, sign in to the app with a username and password, and you will find all the savings on your screen, ready for access.

How Your Rental Property Management Sacramento Team Says Thank You

At Select, we do not take good tenants for granted. We want them to know that we value those who care for rental properties as if it were their own house, pay rent on time, and submit maintenance requests when needed. It is because of responsible tenants, that Select wants to give back. Sign up for the Resident Club today and start taking advantage of this so-called rent decrease. If you are not already a tenant under Select’s property management, call us today to learn about our available rentals, so you can unlock savings. 

Why You Should Rent Out Your House with Property Management Companies in Sacramento, Instead of Sell It

People in Sacramento who bought homes 20 years ago are sitting pretty today. Appreciation throughout the entire state of California has continued to rise over the years. Location, Inc. has released data and analytics that prove that since 2000, appreciation rates in California have increased by 156.84% total. This means that homeowners looking to sell their lifelong homes and retire or move closer to loved ones have two choices. Renting out their house or selling their house. Property Management Companies in Sacramento see the value in selling and cashing out on all the appreciation homeowners have accumulated, however, homeowners can transform owner occupied properties into rental properties and cash out even bigger. Turning a property into a rental house is a great return on investment and pays off big in the long run.  Don’t believe us? Keep reading. 

Single Family Rentals and Rent Yields

A report leased by ATTOM Data Solutions analyzed single family rental returns in more than 430 counties across America, each with a minimum of least 100,000 people, and with ample rental and home price data. The report found that the average annual gross rental yield amongst the counties was 8.8 percent in 2019. That is a tenth percent higher than the average in 2018 at 8.7 percent. Property management companies in Sacramento know that this research means that buying a single-family residence to rent it out is a better deal at this time in 2019 than it was in 2018 because profit margins are increasing in most of the counties in the United States. Right now, the profit margins are up in six out of every ten counties analyzed in the study. Sacramento County ranked as one of the top counties in America with the biggest increase in potential annual gross rental yields for 2019, while counties in San Francisco and San Jose ranked in the lowest bracket. These findings prove that home prices are too high in the Bay Area to yield profitable rent margins, while property management companies in Sacramento see property owners raking in the cash from the local rental market. Mortgage rates, home prices, and taxes are reasonable and make financial sense in Sacramento County for investors. In addition, renters are migrating from the Bay Area to Sacramento and nearby cities to find more affordable rent prices and cost of living. This means that the demand for rental housing in and around Sacramento is getting greater. Real estate investors and property owners looking to transform an owner occupied property into a rental property will have no trouble finding qualified renters. 

Why People Want to Rent Instead of Buy

It is no secret that purchasing a home is nearly unaffordable in this economy. The amount of money needed to purchase and own a home monthly is costing people more money than it does to rent a home from property management companies in Sacramento. A study conducted by the U.S. Census Bureau’s 2013-2017 American Community Survey found that in every single state across America, homeowners are spending more money on housing than renters. But how much more money? The answer depends on the state. Homeowners in New Jersey spend more than $1,100 per month on average to own, while homeowners in Arkansas only spend $300 more than renters. In California, the median monthly cost for homeowners with a mortgage is $2,206, while the median cost to rent is $1,358. There are many factors that play a role in why these findings are true. Some speculations include maintenance, taxes, repairs, insurance, inspection fees, closing costs, and mortgage rates. At this point in time, renting a house from property management companies in Sacramento is the smarter option for many people, and homebuyers and renters know this information. A study that was released from found that the costs to purchasing and owning a home are up fourteen percent over the last year, while national rent rates are only up by four percent. In the past, homeownership has been a status symbol, while renters have carried a stigma of having less money than those who own a home. But the times and stigma around renters is changing. Perhaps renters are seeing that money can go further and they can live the lifestyle they desire by choosing the more affordable option. The status symbol of owning versus renting a property is dissipating. 

Who Makes Up the Rental Market?

The National Multifamily Housing Council has found that people who are 30 years old and younger make up fifty percent of the rental market in America. Experts at property management companies in Sacramento suspect the reason for this is that millenials value the type of lifestyle that allows for flexibility and ease of movement with plans and jobs. Millenials do not like to be tied down. However, a major factor is also affordability. Housing prices are rising more quickly than wages and people are choosing to make wise decisions with money earned and find a rental property. Those who fall within the age category of 30 to 44 years old account for twenty-three percent of the rental market. 45 to 64 year olds account for nineteen percent of the share, and those who are 65 years old and older only make up nine percent of the rental market.

How Will I Know That My House Will Receive Proper Care From a Tenant?

Shifting a home that was once owner occupied to renter occupied can be difficult for many. A home is where memories have been made, hearts and souls have bonded, and a place that has received careful and meticulous care. Some may call this an emotional attachment. If you are looking to shift your house into a rental, know that one of the top rated property management companies in Sacramento, Real Property Management Select only accepts applications from highly qualified applicants. An American Community Survey has found that the number of high-income renters has increased from 3.8 million in 2008, to 5.7 million in 2017. High-income renters are classified as those making $100,000 annually or more. Select ensures that all applicants income qualify for a rental house. The professional leasing staff at Select also run credit checks, contact previous landlords for referrals, run criminal and background checks, and verify employment. In addition to a thorough and rigorous screening process, Select conducts bi-annual property inspections. During these inspections, a member of the leasing team will not only inspect the interior and exterior of the property, but also check for lease compliance regarding pets, occupancy levels, and proper care of the property. 

How to Rent Out Your House with Property Management Companies in Sacramento

With more than 30 years of experience in the property management industry, Select has managed every type of dwelling from single family homes, duplexes, multifamily housing, condos and more. No matter the property type, our friendly staff can help turn any property into a cash flowing rental, no matter the type or condition. Select provides a comprehensive service and can supply investors with the following:

  • Full service listing
  • Marketing and Rental Market Analytics
  • Showings of the property
  • Getting the property Rent Ready
  • Advertising on dozens of commonly used rental websites, including Select’s website
  • Rigorous Tenant Application Process
  • Lease Signing and Move-In
  • Faster than average leasing times 
  • Affordable maintenance through preferred vendor pricing
  • 24/7 availability for maintenance emergencies
  • Tenant Portal and Owner Portal access
  • Move-Outs
  • Eviction Protection

Start making money on your house now. Call our team of professionals today

Rancho Cordova Property Management Discounts That Save Investors and Tenants Money

What is your idea of the perfect tenant? Many would say it is someone who pays rent on time, reports maintenance requests promptly, respects the property they are renting, and follows all lease agreement rules. Now think about the perfect landlord. The best landlords respond quickly to maintenance requests, listen to their tenants, and make necessary repairs and improvements. What if we told you there is a Rancho Cordova property management team that gives more than that? The professional team members at RPM Select know that happy tenants stay long term, which saves property owners in turnover costs, vacancy loss, maintenance, leasing and advertising. It is our goal to keep tenants happy and confident in their knowledge that we care about them. That is why we created the Resident Club.

The Resident Club

When residents pay rent online and on time, they are automatically presented with a link to sign up for discounts and coupons to local restaurants, clothing stores, entertainment, and grocery stores. Some of the discounts offer up to fifty percent off. Offering these discounts and coupons allows Select to reward and encourage on time rent payments. When residents pay on time, they not only avoid late fees, but they save themselves money on everyday expenses. The leasing team at the Rancho Cordova property management Select location can also pass these same coupons and discounts on to clients. If you are a property investor who has a management contract with Select, simply ask a team member for access and you will be saving money immediately.

Annual Savings

When you think about saving fifty cents here or a dollar there, it can feel like the effort for the coupon is not worth the reward. But the discounts received by Select’s Resident Club is worth more than just a few cents that tenants save. Some discounts offer up to fifty percent off. When you sign up for the Resident Club, you can take advantage of the Savings Calculator. This helpful tool allows you to see how much money you could save each year. Below is a list of some questions that tenants will be asked in order to calculate their estimated savings with Rancho Cordova property management:

  • How many times per week do you eat out for lunch?
  • How many times per week do you eat out for dinner?
  • How many times per year do you attend theme parks?
  • How many times per month do you go bowling, laser tagging, to the movies, or mini golfing?
  • How many pairs of shoes do you buy each year?
  • How often do you buy flowers or chocolates for friends or loved ones?

Tenants and clients can save thousands of dollars each year by applying the Resident Club discounts and coupons.

How to Use the Coupons and Discounts

The Resident Club allows iPhone and Android users to download the discount app. This way you can carry your coupons and discounts everywhere you go. The app allows users to search for nearby places for on-the-go coupons and discounts throughout surrounding cities and Rancho Cordova. Property management teams know that the weekly grocery store bill adds up quickly. On the app, users can also click and save specific coupons for items on their grocery lists like cereal, yogurt, and other brand name items. Present the coupon or discount code to your cashier prior to payment. It is that simple. Pay rent on time and save big.

Cost Savings of Long Term Tenants

Every day that your rental property sits vacant is money out of your pocket. The Resident Club with Select aims to keep tenants long term. We know that rewarding tenants for on time rent payments keeps them happy. And happy tenants stay. The average cost of a single family home turnover can range between $1,500 and $4,000. This is dictated on the condition of the rental property in Rancho Cordova. Property management companies suggest a fresh coat of paint, carpet cleaning or replacement for houses that need it, repairs, new appliances as needed, professional cleaning services, landscape services, and much more. The Resident Club at Select has been proven in keeping tenants long term and making them feel valued. 

Why Rancho Cordova Property Management Clients Need Select 

As a client of Select, your circumstances cannot get much better. You can have the same access to the Resident Club as your tenants, you will save money on turnover costs, leasing and advertising costs, maintenance, and vacancy losses. The highly trained property management team is all about putting money back into the pockets of our loyal clients. We need each other to succeed and as a client of Select, you will see that we put our money where our mouth is and make you our priority. Call us today.  

Renting Out Your Home with Rocklin Property Management Professionals

Have you always dreamed of making passive income by owning real estate investment properties? If so, you are not alone. As an investment property owner, you can expect monthly cash flow by renting out your house, build equity, and create an investment portfolio that can serve you for the remainder of your life. Who would not want to take advantage of this investment opportunity? The truth of the matter is while owning a rental home and generating cash flow sounds easy enough, there are many complexities that go into the daily grind of Rocklin property management. 

Deciding to Rent Out Your House

Many property owners have an emotional attachment to their homes. It is where a life was built, memories were made, and every square inch of the property was cared for. Now you are considering handing this sentimental keepsake into the hands of a stranger? Yes. It comes down to a simple solution. Math. While property management teams do their best to find high quality tenants who care for your home, pay rent on time, and report maintenance when needed, we understand it can be scary to make the move from owner occupied to tenant occupied. Maybe your situation has changed over the years and it is time to downsize, move closer to children and grandchildren, or travel the world. Whatever your reason, when deciding if your home would make a good rental or not, Rocklin property management companies suggest you do the math: expected annual rental rate minus annual mortgage, minus taxes and insurance, minus maintenance, minus vacancy loss equals cash flow. 

Determining a Rental Rate for Your Home

Conducting a rental market analysis on your home to determine a rental rate is crucial to your success of maximizing cash flow on your rental property. If you set a rental rate too high, you run the risk of prolonged vacancy and prospective tenants walking away disappointed. If you ask for a rental rate that is too low, you will find renters immediately, but they might not be the high income renters you were hoping to get and you will walk away knowing you could cash flow more than you will receive. Look at local classifieds and drive the surrounding neighbors within a three to five mile radius. Determine the square footage of the property, lot size, bedroom and bathroom ratios, any updates or upgrades that have been done to the properties, amenities, and quality of the neighborhoods. Rocklin property management companies also compare security deposit amounts and lease term lengths. 

Calculating Maintenance

Property maintenance can be somewhat unpredictable. The worst situation a landlord can put themselves in is to be unprepared for maintenance costs. At RPM Select, we advise property owners to set aside one month of rent each year to account for maintenance. However you decide to set aside this money is up to you. Some homeowners put away about ten percent each month, while others take a lump sum at the start of the year and store it away. Remember that the older the home, the more maintenance you will have on it. Newer homes have lower maintenance costs.

Calculating Vacancy Loss

Look at the vacancy rate for the neighborhood and comparable properties that your rental property is located. Calculate how much income your rental property should produce. Be conservative in your estimate. Remember to account for any rent increases that will be given throughout the year. For example, if your property will produce $27,000 in a year, and your neighborhood vacancy rate is 4%, you can calculate your vacancy loss like this: $27,000 x .04 = $1,080. Rocklin property management companies generally lock tenants into a 12 month contract. We caution property investors to not sign lease contracts longer than 12 months because rental rates can change quickly in a short amount of time and you will want to increase the rent as the market increases. You cannot give a rent increase to a tenant who is locked into a lease agreement at a certain rental rate. You must wait until the lease agreement expires to enact a rent increase.

High Quality Renters in 2019

The stigma of the word “renter” has drastically changed over the past ten years. Recent data collected by the US Census shows that the number of high income renters has increased by 1.35 million people between the years of 2007 and 2017. High income was defined as those making $150,000 or more annually. That is a 175 percent increase. This data confirms that there are qualified renters throughout America who are seeking rental properties instead of purchasing a home. As Rocklin property management teams work around the clock to advertise and qualify prospective tenants, this data suggests that you can be certain that you will find a tenant who will respect your house and pay rent on time each month.

How You Can Succeed with the Experts at Rocklin Property Management Team, Select

Now is the perfect time to rent out your property. As more homeowners make the shift from owner occupied to renter occupied, they are turning to Select to help them avoid costly mistakes. Our experienced team has a proven track record of helping investors reach their financial goals, while protecting their investment. At Select, our leasing times are faster than our competitors, our eviction rates are low, maintenance costs are in check, and our respectful renters maintain our client’s properties. Call the experts in Rocklin property management today

Clients Can Earn Rewards with Roseville Property Management Team, Select

When you have something good, it is hard to keep it to yourself. Like eating at the most delicious restaurant you have ever tasted, you want to share your experience with your friends and get them to go there too. That is how our clients feel about RPM Select. They receive unsurpassed, first-class service from our experienced and professional team and they feel the urge to share it with friends and neighbors. Best of all, they can earn Referral Rewards which is a credit towards our management services by referring friends and family to Roseville property management team, Select, that results in a management contract. Sound too good to be true? It’s not.

No Limit

Unlike coupons at the grocery store that say “Limit 4”, our Referral Rewards Program has no limit on how many times you can earn a credit towards your management fees. So spread the news far and wide, as often as you would like. It is a win-win situation. You get free money and your friends who sign a contract with us, experience the highest quality of management services offered in the industry. 

A Higher Standard

You can feel confident telling your fellow property investors about Select. Here’s why:

  • Shorter Lease Times: Our streamlined system proves that we have a faster than average leasing time when compared to our competitors. We spend thousands of dollars every month aggressively advertising vacant properties to minimize vacancy days. We know that each day your property sits vacant, it is money out of your pocket. Our goal is to put as much money in your bank account, as possible. 
  • Full-Service: Clients can expect a full-service Roseville property management leasing process. We provide advice in maintenance and improvements to get your home rent-ready, conduct a detailed and analyzed report on market rents, provide professional property showings, lease signings, and more.
  • Tenant Screening: We uphold the highest standards of tenant qualifications by running criminal, credit, and background checks on all applicants over the age of 18. We also verify employment and rental history to ensure our properties are occupied with tenants who will pay rent on time and care for the property as if it were their own.
  • Maintenance: We meticulously care for our rental properties by responding to maintenance requests promptly and conducting biannual property inspections to cut down on maintenance costs and guarantee lease compliance. 
  • Legal Protection: We protect our clients from costly mistakes. We comply with all legal requirements, document everything, and follow all housing laws. We are polite and professional in our interactions with our clients and tenants. 
  • 24/7 Maintenance: We make ourselves available seven days a week, at all hours of the day or night to assist tenants in maintenance requests and emergencies. Clients of our Roseville property management team can expect cost-effective and reliable maintenance. Our long-standing relationships with preferred vendors result in discounted equipment and services. We only high licensed and insured vendors to protect our clients. 
  • Online Owner Portal: At Select, we keep up with the times. Our online reporting features allow clients to keep tabs on their property from afar. Our web-based system shows information about property activity including vacancies, showings, applications, maintenance, financials, and property inspection reports. Tenants alike can pay rent online and request maintenance. Online rent collections allow property owners to get their money faster.
  • Rent Collections: Our monthly rent collection system offers incentives to tenants for paying rent on time. We are thorough and diligent in our rent collections and take action when necessary. We communicate clearly with tenants so they know how to pay rent, when the rent is due each month, and the correct amount. This way, there is no excuse for failure to pay rent. 
  • Eviction Protection: Roseville property management teams know that even with careful placement, evictions are still possible. Our experienced professionals are educated in all federal, state and local laws. If rent is not paid on time, we act quickly to initiate proper legal filings to minimize eviction costs and re-rent the property to a qualified tenant. We also offer an Eviction Protection Program. For a small monthly fee, property owners can minimize the cost of an eviction. 

How to Refer a Friend to Roseville Property Management Experts, Select

Call or email the referral information to our office. It is that easy. We will reach out to your referral and if it results in a management contract, we will apply a credit to your account. You save money, make your friends happy, and do it all over again as many times as you want. Let us help property owners avoid costly mistakes, limit inefficiencies, maximize cash flow, and protect them from costly maintenance. Your friends will be elated that you shared your positive Select experience with them. Call us today.

Avoiding Costly Sacramento Property Management Mistakes

You plan meticulously and make a record of every dollar, every conversation you have had with a tenant, and every notice that you have placed on their door. You have made yourself available twenty-four hours a day, seven days a week since you bought for your first investment property. Then with one slip, one mistake, it falls to shambles. You are hit with an enormous expense that could have been avoided in property management. Sacramento landlords can work for months, and even years, trying to recoup the costs after paying for a mistake. Do not let this be you. Keep reading if you want to improve your cash flow, keep vacancy rates low, and avoid costly legal fees.

Vacancy Rates

No property owner likes having their property vacant. When it is vacant, it halts cash flow, costs extra money to get the home rent ready, and you lose money every day that your property sits empty. During quarter one of 2019, the average vacancy rate for rental housing in America was seven percent. That is higher than last years 6.60 percent, but lower than the long term average of 7.36 percent. There are many strategies that Sacramento property managers can do to avoid long vacancies. A few of these include picking a highly desired rental property, marketing it aggressively, properly preparing it for showings, and pricing it right. 

  • Rental Property Selection: The first criteria investors should look for when seeking to purchase a rental property is the neighborhood. Find a neighborhood that has a track record of low vacancy rates. These neighborhoods typically have good schools, a lot of amenities, offer single family dwellings, have grocery shopping and dining nearby, and are convenient for commuting to work.
  • Marketing Your Rental Property: When you are searching for a home to rent or buy, what is one of the first things you look at on a listing? Pictures. Pictures can attract or detract prospective tenants from expressing interest in your rental. Get high quality photos of your property and use the best picture as your featured image on the listing. Advertise your property across multiple websites like Zillow, Hotpads, Oodle, Craigslist, and other local classifieds. Place a For Rent sign in the front yard of your property. This not only informs people driving by who are looking to rent, but also alerts neighbors who have friends or family that are looking for a rental. Word of mouth can be very powerful in Sacramento property management.
  • Preparing Your Property for Showings: Turning over a property to get it ready for showings to prospective tenants requires a lot of time, work, money, coordination, and efficiency. A rental property that is ready for showings should have fresh paint on the walls, clean and well kept flooring, appliances that work, fresh landscaping, should be clear of all pests, and all cabinetry and countertops should be clean and in good condition. Once a past tenant vacates and turns in keys, landlords and property owners should enter the premises immediately to cut down on vacancy time. If possible, enter the property approximately two weeks prior to the tenant vacating to get an idea of the amount of work needed upon move-out. Doing so allows landlords to schedule vendors ahead of time, so they can get the date of service they need and want without wasting days between vendors during vacancy. 
  • Pricing Your Rental Property: Expert property managers in Sacramento conduct market comparisons and analysis to make sure they are asking the right amount for rent. If you price a property too high, you will have prolonged vacancy. If you price it too low, it will get snatched up right away, but you will walk away knowing you could have received a higher rental price. Look for properties that are within a three to five mile radius that have similar square footage, bedroom to bathroom ratios, amenities, quality of neighborhood, and age of property and fixtures. Price your property competitively and always start a few dollars high. If your phone fails to ring within the first few days, lower the price by twenty-five dollars and see if phone traffic picks up. 

Tenant Qualifications

It is better to have a property vacant than to accept unqualified tenants. Do not lower your tenant screening standards just because your property is sitting vacant for longer than you expected. Set rigorous screening standards for your tenants to ensure they pay their bills on time, make sufficient income, and have a proven track record of renting from other companies in property management. Sacramento landlords should ask for a 3:1 income ratio. This means that if rent is $2,200/month, the monthly gross household income of applicants must be at least $6,600. Require that applicants provide you with proof of income. This could be the two most recent pay stubs, previous two years of tax return documents, six months of bank statements, or official offer letters typed and signed on letterhead. Run a credit check and background check on applicants. A credit check will tell you if they are current on paying bills and a background check will let you know if they have any criminal activity. Certain criminal activity could cause a liability to property owners. Call previous management companies or landlords to inquire as to what type of tenants your applicants are. 

Rent Collection

It comes and goes every month and if you do not have a simple and reliable rent collection process, you will find yourself dreading it every month. Companies who specialize in property management in Sacramento have automated rent collection processes that allow tenants to pay rent online, at their convenience. At the time of lease signing, property managers should clearly outline when rent is due, the correct amount, what happens if they fail to pay, and how they can pay. The old method of dropping a paper check off at the management office is outdated. Tenants now want the convenience of paying online, with the click of a button and RPM Select is keeping up with the times. Having an automated system in place if tenants do not pay rent can be a life saver. Software systems can release a 3 Day Notice to Pay Rent or Quit directly to tenants. Say goodbye to the days of posting notices on front doors. Your life just got a whole lot easier. 

Legal Compliance

If you are looking to fork out a huge amount of money, simply make a legal mistake. Chances are a lawsuit will be filed and you will find yourself in court with hefty legal fees. It is imperative to your success as a property manager in Sacramento that you are educated on federal, state, and local laws. Below is a list of some common laws that property managers need to know to protect themselves on a daily basis.

  • Fair Housing Act
  • Americans with Disabilities
  • Age Discrimmination Act
  • Title VI of the Civil Rights Act
  • Habitability Laws 

Property Inspections

Make it a priority to inspection your rental property biannually. During your property inspection, look at the interior and exterior. If the property is occupied, post a proper Notice of Entry and give ample notice. During your inspection, look for broken pipes, signs of leaks, proper seals on windows and doors, check all door and window locks, test appliances, change filters on air conditioning and heating units, look for signs of pests or overcrowding of residents, and all lease compliance issues. Conducting biannual property inspections will allow managers and property owners to catch maintenance problems while they are still small. Small problems that become big and worse, cost more money, cause an inconvenience to tenants, and more damage to the property.

Why You Need Property Management Sacramento Experts at Select

With all of the complexities of managing your investment property, we want to assure you that there is an easier way. When you hire Select, you can rest easy knowing that your property is a top priority to us and that everything from the leasing phase to the move out phase will be taken care of properly and legally. Make the most money on your investment by calling us today

How Property Management Companies in Sacramento Get Multi-Family Properties the Best Return on Investment

Managing a multi-family property takes time, knowledge, expertise, and top notch customer service. It is a job that requires around the clock care and availability. If you are a property owner, you know that you need someone who can deliver this and more. At RPM Select, our professional leasing agents have been rigorously trained in all aspects of property management and are ready to better serve you. We provide our clients with everything our competitors offer, and so much more. When you join the Select property owner’s club, you can expect to keep tenants, maximize revenue, and turnkey property management services.

Decreased Vacancy Rates

The moment a property becomes vacant, the clock is ticking for property management companies. Sacramento rental homes are especially in high demand and require managers to take immediate action upon vacancy. Every day that a rental property sits vacant, it costs our property owners money. We have your best interest in mind and our leasing professionals conduct thorough walk throughs of the property as soon as they receive keys from the previous tenants. They inspect and take notes as they walk the property and schedule vendors and repairs accordingly. They know that time is of the essence and schedule vendors back-to-back to minimize the days your property is not actively in the rent-ready stage. Because of our desire to take immediate action, our clients experience, on average, lower vacancy rates than properties offered for rent by our competitors. 

Careful Screening Methods

Clients of Select enjoy long term tenants due to our rigorous screening methods. We only accept the most qualified applicants who pass our tough requirements. We require that all applicants who are 18 years old and older submit a signed and dated application to rent. This application tells us where they currently live, their past rental history, employment information, monthly expenses, if they have ever been evicted, and more. Property management companies in Sacramento must do their due diligence of verifying this information. Select also requires sufficient income proof which consists of the two most recent pay stubs, 6 months of bank statements, previous two years worth of tax return documents, of an official offer letter typed and signed on company letterhead. Always verify rental history and employment information by calling previous landlords and current employers. For a list of questions that we ask previous landlords, click here. Always run a credit check and criminal background check so you know if your tenants are responsible with paying their bills and to limit your liability as a landlord. 

Streamlined Rent Collections

One of the ways to prevent late rent payments is to communicate clearly and effectively when rent is due, where it can be paid, the penalty if the payment is late, and the correct amount due each month at the time of lease signing. Property management companies in Sacramento must keep up with the times in regard to technology. Very few tenants still pay with a paper check. The majority of renters want an electronic rent payment service, and Select can deliver. Our online tenant portal allows tenants to pay rent with the click of a button and be done within seconds. We also have an automated alert system that tells us who has failed to pay rent and the course of action that needs to be taken. If rent is unpaid after your grace period, you must deliver a 3 Day Notice to Pay Rent or Quit to the unpaying tenant. If they still fail to pay rent, you should contact your legal counsel for directions moving forward with filing an Unlawful Detainer. 

Get Cost Effective Maintenance with the Top Property Management Companies in Sacramento 

When property owners hire property managers, they often get the privilege of discounted prices from vendors. Clients of Select enjoy even deeper discounts than the average management company offers. We hire only licensed and insured vendors who have proven track records. Many of our vendors have been servicing our multiple properties for years, and are highly skilled and trusted in their industry. At Select, we believe in preventative maintenance. We conduct biannual property inspections to assess needed maintenance, make repairs before they turn into big maintenance issues, ensure tenants are in compliance with the lease agreement, and care for any seasonal maintenance. Proactive maintenance saves our property owners thousands of dollars every year. Our experienced professionals also act promptly when maintenance requests are received in an effort to keep costs down, tenants happy, and caring meticulously for your property. 

Professional and Trusted Staff

It takes a lot of trust and homework to find a property management company in Sacramento that is right for you. It takes interviews, asking the right questions, and comparing prices to make an educated decision for your investment. Select is known for having three decades of experience, highly trained professional leasing agents, skilled and thorough vendors, and most of all, trust. Our expertise serves us well in all areas of property management and allows us to protect our clients and get them the best return on investment they have yet to see. Put your faith in us, call us today

How Auburn Property Management Keeps Maintenance Affordable

Whether your home is owner or renter occupied, no one likes to deal with maintenance. It is expensive, inconvenient, and sometimes turns out to be more than you bargained for. If you are a landlord to a rental property, you know that when you take proper care of the property, your tenants do too. When a tenant sees that a property owner respects his house, they are more likely to stay long term and pay the rent on time. Auburn property management company, Real Property Management Select, wants to remove the stress and panic that property owners feel when a maintenance call comes in from a tenant. By following these five simple steps, you are sure to keep your maintenance costs affordable and at bay.

Conduct Maintenance and Repairs During The Turnover Phase

No matter how well your tenants take care of the property, things wear out and break. The easiest time to complete maintenance and repairs needed on a property is when it is vacant. As soon as a tenant moves out and returns keys, landlords should enter the property and conduct a property inspection. Auburn property management firms have long checklists of items to inspect during a vacancy including:

  • Appliances, turn them on and off and make sure they are in proper working order. This includes the garbage disposal
  • Replace filters on air conditioning, heating, and range hood units
  • Test all window locks and blinds
  • Rekey the front door and reset garage codes, if needed
  • Check tubs and showers for reglazing or caulking repairs
  • Inspect countertops, bath and kitchen, for cosmetic appearance
  • Inspect flooring, including carpet and pad, tile, wood, vinyl, and all flooring surfaces
  • Check for holes and scuff marks on the walls and repaint the entire wall, instead of doing a touch up. Touch ups rarely match.
  • Check walls and bathrooms for signs of leaks, mold or mildew growth
  • Inspect medicine cabinets and kitchens cabinets for proper functioning and damage
  • Inspect the landscape and sprinkler systems. Plant new vegetation as needed, remove weeds, and tidy up the curb appeal
  • Remove any debris left behind by the previous tenant

Auburn property management teams work quickly to make a list of repairs and schedule proper vendors. Making repairs to the property while it is empty helps you to rent it more quickly because everything is turn key for showings, gets you a higher rental price, and prevents inconveniencing a tenant while the property is occupied.

Budget for Maintenance

Plan head for maintenance. Set aside one to two month’s rent per year to allow for maintenance. At the start of the calendar year, think about any appliances that you expect will need to be replaced or repairs that you want to do to the property. Auburn property management firms use the following information as a guide to know how long each appliance should last, on average. For a full list of appliances that their life expectancy, click here.

  • Refrigerator: 14 years
  • Stove: 19 years for gas, 16 for electric
  • Microwave: 8 years
  • Dishwasher: 12 years
  • Garbage disposal: 13 years
  • Washing machine: 12 years
  • Dryer: 13 for gas, 14 for electric

Think about major repairs or updates that need to be done on the property as well. This includes roofing repairs, garage repairs, stucco, sheetrock, countertops, flooring, cabinetry and much more.

Be Proactive

An easy way to stay ahead of expensive maintenance costs is to be proactive. Take the opportunity to conduct seasonal maintenance and to check your property through routine inspections. You can catch problems when they are still minor, before they turn into big, expensive repairs. Auburn property management professionals use the following checklist for seasonal maintenance:

Fall Checklist

  • Prune trees and shrubs
  • Clear rain gutters and downspouts of debris
  • Make exterior repairs
  • Check seals and weather strips on windows and doors
  • Seal gaps where rodents can enter an attic or crawl space from outside
  • Check railings on all stairways
  • Turn off hose bibbs/valves and store hoses
  • Clean out dryer vents
  • Replace filters on the furnace
  • Clean the chimney
  • As always, test smoke and carbon monoxide detectors.

Spring Checklist

  • Prune trees and shrubs
  • Replace air conditioning filters
  • Clean and inspect windows and screens for damage and proper installation
  • Inspect for signs of leaks or moisture
  • Check wooden decks and stairs for signs of rott or restain the surfaces
  • Turn on sprinklers and inspect sprinkler heads and adjust to prevent overspray
  • As always, test smoke and carbon monoxide detectors

Auburn property management maintenance costs do not have to break the bank. Keep them affordable by following the steps listed above. Spending a little money now will save you from spending hundreds or even thousands in the future.

Make Yourself Available and Respond Quickly

Property management is an on-call, 24/7 type of job. You never know when a maintenance emergency will happen and you will have to spring into action. Keep your phone with you and turned on at all times. Hopefully a maintenance emergency call does not come through at 3:30 AM, but if it is a true maintenance emergency, you will be grateful you took the call. Responding to maintenance promptly limits the damage and cost to make the repairs. Auburn property management experts know that when a tenant receives first class customer service for maintenance, they are more willing to stay long term, care for the property as if it was his or her own, and pay rent in full and on time.

Preferred Pricing with Auburn Property Management’s Select

When property owners choose Select, they get access to our preferred member pricing from our top rated vendors. Save money on maintenance by choosing Select as your professional Auburn property management company. Call us today.

How Folsom Property Management Gets Your Property Rent Ready

When it comes time to get your home rent ready, time is money. Everyday that your property sits empty is money out of your pocket. It is crucial to your cash flow to work as quickly and efficiently as possible to turnover your rental property and get it ready for viewing by new prospective tenants. Folsom property management company, Real Property Management Select, leases more than five thousand properties each month and has perfected the rent ready process. Follow along for efficient steps when getting your home ready for your next tenant.

Curb Appeal

Inspect the property from the street view. How does it look? Are the flowers pruned and vibrant? Are tree branches dead and overgrown? Are there weeds intertwined between bushes? Is the driveway clear of oil stains or debris? All of these factors impact curb appeal. The front view of your house is the first thing that applicants see when they arrive for a showing. Make your landscape beautiful and attractive. Folsom property management teams suggest landlords fertilize, mow the lawn, trim dead tree branches and flower stems, or replace dead plants as needed. Check the sprinkler system and make sure your vegetation is getting sufficient water.

Maintenance and Repairs

No one wants to move into a new rental property to find appliances are broken, the air conditioning system does not work, or a pest control problem. Once the previous tenant moves out and returns keys, enter the property immediately. Time is of the essence when turning over a rental property. First things first, rekey the property. This should be your first step upon starting the turnover process. This protects Folsom property management companies from liability, and protects the future tenant. Even though a landlord may have received all keys that were issued at the time of lease signing, you never know if they have made extra copies and handed them out to friends or family. Test all appliances, replace filters on the air conditioning unit, furnace, and hood ranges. Paint the walls a neutral color that is attractive to all people. Do not do a touch up paint, as the wall will likely appear blotchy. Paint the entire wall that is in need of paint. Clean or replace carpets and flooring as needed. Test and replace the batteries in smoke and carbon monoxide detectors. Know the laws in your city regarding smoke, carbon monoxide, and radon detectors. Folsom property management firms are required to provide smoke alarms and carbon monoxide detectors in dwellings.

Get Your Price Right Through Market Comparisons

Pricing your rental property can be crucial to your success and vacancy time. If you price it too high, you run the risk of an extended vacancy time. If you price it too low, someone will snatch it up immediately, and you could have achieved a higher rent price, which would have  increased your monthly cash flow. Complete a market comparison analysis to make certain your price is competitive with similar properties. Folsom property management teams conduct market comparisons by looking at active rental listings that offer similar square footage, bedroom and bathroom ratios, have similar amenities, updates, and features. Pick properties that are within a 5 mile range of your property. Call the manager or landlord and ask them what their property has to offer. Find out about their security deposit prices, application fees, and any other fees that are included or excluded in the rental price. Once you have determined a ballpark range, start high. Test a rental price on the higher end of the range and see how much interest you get. If your phone is slow to ring, this is a good indicator that you should lower the price. Folsom property management professionals list their rental rates just below the fifty dollar increment mark. For example, a rental price appears more attractive to potential renters if it is listed at $2,295 instead of $2,300. Likewise, $2,245 looks more attractive than $2,250. Try it out and see if you are more successful by listing with this strategy in mind.

Showing the Property

Create a warm and inviting atmosphere for your prospects. Keep the utilities turned on and keep the thermostat at a comfortable temperature. It is a quick turnoff for renters when they walk into a dark house that is freezing cold or blistering hot. Place a neutral air freshener inside the property in a conspicuous location. Make sure it is not too potent. Keep up with lawn care during vacancy or hire a landscaping company to do it for you, so you can focus on showings and applications. Folsom property management team, RPM Select wants to remind landlords to please consider your safety when showing a property. Stand at the front door or on the front porch while your prospective renters walk through the house themselves. This often makes them feel more comfortable anyway, and it keeps you safe.

Folsom Property Management Company, Select’s Proven Rent Ready Process

Select is known for getting rental properties rent ready in record time. When you hire Select to lease your property for you, you know that all work will be done efficiently, showings and correspondents will be carried out in a professional manner, and you will end up with the highest quality of renters who are more than qualified to lease your home. Put our proven process to the test in Folsom. Property management experts are standing by waiting for your call. Call us today.