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Protecting A Property Investment

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Property is not cheap. Landlords in San Diego take out sizable loans to purchase apartments and homes for rent. These are investments that should produce income and expenses must be reasonable. Property damage will eat into any profit and a landlord must be careful. There are ways to protect a property investment from being harmed.

1. The Lived in Look
Apartments are going to be vacant for periods between tenants and that is a given in the real estate industry. However, an apartment that is vacant is a target for vandals. A landlord should make certain that the apartment at least appears to be currently occupied. This can include daily visits and scheduling lights in the apartment to be on at night.

2. Never Limit Walk-Throughs
Doing routine checks of an apartment is a routine job, but too often a landlord will limit these inspections to new tenants. Those who have lived in an apartment for a few years can also cause damage or ignore the signs of needed repair. Even if the tenant has been reliable in the past, it is critical to schedule walk-throughs of their apartment as well.

3. Do a Complete Background Check
Landlords want vacancies filled as soon as possible, but care is necessary. A background check, which must be nondiscriminatory, must include investigations into whether a prospective tenant has a history of property damage. Former landlords ordinarily are more than willing to share such information. Be sure to ask for it.

4. Pay Attention to the Lease
A landlord’s standard lease must also include stipulations as to what happens if there is damage while a person is a resident. It is important to explain to the tenant what is required.

5. Always Have a Security Deposit
Vacating tenants might leave California, forcing the landlord to assume the cost of any repairs. Security deposits are standard rental instruments and a reasonable deposit can cover any damages which might have been overlooked.

6. Always Document
Any conversations or meetings with a tenant about the property should be documented and kept on file. Any damage, whether intentional or accidental, needs to be part of the record of any tenant.

7. Deal with Reputable Contractors
Unfortunately, some of the expense of repair work is a result of unethical contractors padding the bills. A landlord should never have to pay hidden fees, and the contractor should be able to explain exactly what was done to the property.

 

Rely on Alta Vista Properties

Property management companies in San Diego vary in quality. Some are excellent while others are marginal performers who sometimes generate unnecessary expenses. Alta Vista Properties is a property management company in San Diego that is known for quality of service and the ability to maintain client properties.

We do comprehensive background checks on all prospective tenants, checking to be sure they can be trusted with property maintenance. We believe in transparency and new tenants are fully briefed on what we expect of them as per the lease. Property security is important, and we are on guard for any possibility of vandalism. When it comes to any work that is done on the property, we use only those contractors with whom we have done business in the past. These professionals are aware of what we expect and will only bill a client for work performed.

We have other services for landlords that makes owning rental property convenient, as well as profitable. We use electronic transfers for rent collection and our clients have a portal on our website for all the various documents and reports. Alta Vista Properties will go the distance to maintain the value of any client’s investment.

Please do inquire at any time about our property management services. We can be reached at 858-274-3600 or by email at info@altavistaproperties.net. We look forward to hearing from you and answering your questions.

 

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Posted by: chelsea on February 13, 2019
Posted in: Utilities