Understanding the landlord and tenant laws in California is an important part of renting out a property in Santa Cruz. To make the legal landscape even more complicated for owners, these laws change all the time. In 2020 alone, we have seen new rent control and just cause eviction laws. An eviction moratorium went into effect because of the COVID-19 pandemic. (more…)
When you’re choosing a Santa Cruz property manager, there are many questions to ask. The typical questions have to do with fees but there is so much more that goes into choosing the right manager for your property.
One of the most important things to look for is experience. That doesn’t only mean that you want a company that’s been in business for a long time. Experience covers a lot of different things, and if you can find a Santa Cruz property management company that puts its experience to work for its owners, residents, and community – you’re probably working with the right company.
Santa Cruz Property Management Experience: Local Knowledge
Local experience is particularly important. When you work with a local Santa Cruz property manager, you can be sure you’re getting up-to-date knowledge and resources that is specific to the market and the tenant pool. This will help with pricing your rental home and marketing it strategically to high quality tenants. Local property managers will understand the trends of the real estate market and how those things impact what tenants are looking for and what they’re willing to pay for a rental property.
There are many excellent real estate brands with nationwide reach. But, when it comes to managing your local rental property, we think you need a property manager who lives and works in Santa Cruz and understands the unique qualities of this rental market.
Industry Experience and Best Practices
Industry experience is important, too. You want to work with property managers who spend time staying on top of the latest laws, best practices, and industry trends. You need a management company with innovative technology and marketing. You want someone who is efficient and effective, and those are qualities that come from years of experience and continuing professional development.
Before you hire a management company, ask what professional organizations they belong to. A good start would be the National Association of Residential Property Managers (NARPM) and the California Apartment Association (CAA).
Years of experience are only a plus when they are positive. Are they actively invested in the market? What is the pay on time rate for their portfolio of tenants? What is their eviction rate? How have they adjusted to the COVID epidemic? Do they have systems, processes, and procedures that are designed to protect you and your property?
Experience with Your Santa Cruz Investment Property
It’s also important to find a company that is experienced with the type of rental homes you own. When you want to rent out single-family properties in established neighborhoods, a management company that specializes in new construction apartment buildings may not be your best resource. Talk to your property manager about the types of homes they’ve managed and why they’re different from other types of rental properties.
We have some additional suggestions on how to find a great Santa Cruz property management company with the right kind of experience. Contact us at Real Estate Eight Three One for more information.
Today we are talking about how to handle repairs and maintenance on your rental property in Santa Cruz. Property maintenance is very important for your rental home, and not just because it reduces your liability. It’s also important to keep your investment in good shape. You have a lot of money invested in your rental home, so keeping it in the best condition possible is beneficial to you and your bottom line. With this in mind, we take the maintenance of our properties very seriously.
When a tenant needs a minor repair or a maintenance issue taken care of, we ask that they put their request in writing and forward that request to us. If they would prefer to, they can also go online and make a maintenance request that way. It works well for both the property manager and the tenants when requests are documented this way. (more…)
Today, we are offering a bit of security deposit advice for both owners and tenants. If you put a group of property managers together in one room, they are all going to tell you that this is one of the toughest areas they deal with on a regular basis. Security deposits and how much gets refunded and withheld are really hard because normal wear and tear is very much a subjective topic. What is “normal” will really depend on the length of the tenancy in a rental property. If someone has been in the property for one year, wear and tear is going to be a lot less than it would be for people who have been in a property for 10 years. (more…)
Owners and landlords often ask the question: how often should property managers inspect properties? The really short answer to that question is – as often as possible. Any opportunity that we have to go look at the inside of a residence should be taken. This might mean taking a look around when a minor repair is needed. We always ask for feedback from our repair people and contractors anytime they go inside to maintain, repair or replace something. They can tell us how things look inside, and if there is anything we might want to investigate or talk to the tenant about. Our vendors are very good about staying in touch with us whenever they go into a house to do some work. Inspections should be part of their work. (more…)
Today we are talking about what qualifications you should look for in a property manager. I have been thinking about this a lot recently because I just came back from a convention in Las Vegas held by the National Association of Residential Property Managers. This is a group of property managers from all across the United States. We share information, talk about the latest trends and developing technology as well as what we can offer in terms of cutting edge services. I think that’s a really important part of being a top notch property manager. Being involved in a group like that, where information is shared freely with other professionals from all over the place is a major resource. You should definitely look for a property manager who belongs to this group or other professional associations. (more…)
As a landlord, you might be wondering if you require lease up services only, or a full property management service. Sometimes, we have landlords who live in our local area, and they are okay with the idea of taking care of the ongoing management of their property, but they don’t have any idea of how to properly interview tenants or screen applicants, and they certainly don’t know how to fill out all the proper paperwork to make sure they have a good tenancy moving forward. (more…)
It’s important to know how to shop for a property manager. When you sit down with somebody and you are interviewing them, what do you really need to find out? What is important to know about this person who you are turning over your valuable asset to manage? I think it’s important to start out with recommendations from people you trust. That’s not always possible, however, so if you don’t have someone in that particular area who you know and trust, the next place I would go is Yelp. (more…)
Landlords often want to know what it really costs to have somebody professionally manage their properties. In a previous blog, we discussed the two major types of fees involved in property management. Those are the lease up fee, which is typically either a flat fee or a percentage of the first month’s rent, as well as the ongoing management fee which is also a percentage of the rent that is collected. That should cover all the costs of professional property management, but some companies will charge additional fees for different things. (more…)
Today, everybody is using Craigslist to advertise their properties. Lots of people are going online to list and access rentals. The days of advertising in the local newspaper seem to be over. People are starting their rental search online, and the first place most people go is Craigslist. So, let’s talk about Craigslist for a minute and how you can use it to advertise your rental property. (more…)