It is tempting to think that rental property is just a passive income source that requires little effort. That is a big mistake and landlords in San Diego cannot afford to think that way. The value of the real estate investment will always hang in the balance. A landlord must always know what is going to maintain that value.
Selecting Good Tenants
A good tenant is the best assurance of property value. That person will abide by the lease and pay the rent on time. Not all tenants in San Diego live up to that standard. Some will ignore the rules and dare the landlord to go through the lengthy eviction process.
Selecting tenants must include nondiscriminatory background checks. These can be inquiries into credit ratings, police records, and experience with other landlords. Any background check must be objective and rely on facts to avoid discrimination charges.
A Reliable Income Stream
Landlords with one or two rentals can collect rent going from door to door. Anyone with a large real estate portfolio cannot easily do that. Dropbox and mail delivery are risky; the invitation for theft is considerable. Tenants who get behind in rent can disrupt the income flow.
Rent must be collected reliably. Electronic transfer permits the rent money to be placed in a landlord’s bank account quickly and efficiently.
Repair Damage Immediately
Depreciation will happen. A rental which is continually occupied will develop a lived-in look. Plumbing and electricity can become problems that lead to tenant complaints. A hole in the wall might permit easy entrance to vermin. Tenants can make things worse by hiding damage or by trying to repair it themselves.
Do-it-yourself is not the best way to fix things. It is always better to hire a professional repair contractor to do the work. However, not all repair contractors in San Diego are ethical. Landlords must be careful with who does the repair work on their investment property.
This is a potential powder keg. A bad tenant, someone who doesn’t pay rent on time or ignores the lease, is an unnecessary nuisance. California law is strict, and procedures must be followed. Finally, eviction may take some time to process. There is the very real risk of the eviction process backfiring and the landlord is sued for discriminatory behavior.
Even when the eviction happens, there is a chance of economic loss. The empty rental is not making money and the landlord must get a new tenant as soon as possible.
Protecting the Investment
A San Diego property owner knows how important it is to maintain the value and cash flow of rentals. A large real estate portfolio may be impossible to manage alone. A third party will make everything much easier. Property management companies in San Diego can supply the needed assistance.
These establishments are real estate professionals who can manage a landlord’s property. They can deal with all the challenges which may surface and protect a client’s investment. Alta Vista Properties is a property management company in San Diego that has an excellent reputation.
One of the secrets to our success is hidden in plain sight. We have excellent relations with the tenants in our managed properties. Alta Vista Properties believes strongly in transparency. We consider the lease to be a document that needs to be followed and we are willing to answer any questions about this contract. Our tenants know that damage is taken care of immediately and rent is collected honestly. It is why so many are willing to renew the lease on our rentals.
Please do inquire at any time about our property management services. We can be reached at 858-274-3600 or by email at firstname.lastname@example.org. We look forward to hearing from you and answering your questions.