Property can be an excellent investment, but it does take work. Landlords in San Diego must recognize the significance of records management. It may sound crazy but forgotten slips of paper can create major headaches.
What Is Needed?
Records management covers a lot of territory. Legal papers that prove ownership and corporate status (e.g. sole proprietorship, LLC, etc.) are essential records. Anything that relates to income and expenses is very important and any audit or inspection data must be stored. This is all in addition to appraisals and assessments. And, there is more.
Any information about building code inspections or damage repair should be on file. Individual reports about unruly tenants will be needed for any eviction process. Various municipalities in the San Diego Metropolitan Area will require reports and the needed information will come from the records. The length of time a landlord needs to keep certain records depends on the law governing the record. The holding time can be anywhere from one year to seven years or more. Property owners should know what kind of information doesn’t need to be stored to avoid wasting time and record space. Efficient management of the data is not easy.
Old-Fashioned Habits Cause Current Issues
A landlord might start with using boxes or file cabinets for storage. These will quickly fill up with leases and other documents. Box and file cabinet records management is old-fashioned and inefficient. It costs time and effort to compose mandatory reports from records which are stored in different places. Moreover, box and file cabinet storage are susceptible to fire, water damage, and theft. It makes better sense to use other storage means.
It furthermore makes sense to use an outside party to manage the records. A healthy real estate portfolio will outgrow a Quicken spreadsheet rather quickly. There are property management companies in San Diego who provide records keeping as a standard service. These professionals will use computerized systems and cloud storage to create a reliable records database. Alta Vista Properties is a property management company in San Diego that uses the best record storage systems.
Great Records Management
Confidential and financial records need to be secure. Hackers must not be able to punch a hole in the firewall. Alta Vista Properties makes use of AppFolio Property Manager software for records keeping. Security is very tight, and clients can rely on us to keep their information safe.
We have offered property management services for many years. AltaVista Properties knows what records must be kept and we update information on a routine basis. Clients sometimes need reports at a moment’s notice. That is no problem for us. We can generate those reports quickly and the accuracy is assured. Human error will not surface in the numbers. Those same reports are easily assessable. Each client has a portal on our website and the reports are there waiting to be downloaded. If any client needs a customized report, we can do it!
Records management is only one of the services we will provide for landlords. Alta Vista Properties can manage the daily activities of the real estate portfolio. We keep good relations with all tenants and resolve disputes before they reach a crisis point. We will do proactive marketing and screen all prospective tenants in a nondiscriminatory way. Our service and attention to tenants is a primary reason for our good standing with the Better Business Bureau. We provide full-service to all our clients.
Please do inquire at any time about our property management services. We can be reached at 858-274-3600 or by email at email@example.com. We look forward to hearing from you and answering your questions.