HomePointe has implemented new property management software program. Since 2006 we have provided our clients online access so they can view all their statements and bills in a pdf format. Many clients have taken advantage of this service and have saved money doing it.
We are currentily beta testing a new expanded service that allows our clients the ability to log in and run reports on their property in real time. Clients can select to see their Statements, Tenant Ledgers, Work Orders, and more. Now our clients can know what we know when we know it 24/7.
Any HomePointe client can contact their property manager to request this as a beta test. The roll out for all should be soon!
rmachado@HomePointe.com
This question is more complicated than it might first appear.
Rental demand is a function of the asking rent. The higher the rent the less demand there is. You also have to consider the price you have to pay for a house for the rent it can achieve. I suggest you start by trying to determine your tolerance for tenant risk. The better neighborhoods have lower risk but also have less return on rent. If you can take a lot of risk, your cash flow might be better but the property will tend to appreciate at a lower rate when the market returns.
Mainstream areas like Natomas and Elk Grove are middle of the road while Folsom and El Dorado Hills and Roseville are higher end areas. The lower end would include a fair amount of South Sacramento.
You can check out our rent suvey at our website at http://www.HomePointe.com and click on Owner Services to access the surveys.
I am used to getting blamed for all sorts of things. The air conditioner goes out and it is my fault. The house won't rent, it is my fault. The rent check bounced, it is my fault. I don't return phone calls, wait, that one actually would be my fault! But, most of the time I get blamed and yet I am just the guy you can reach.
The newest thing to blame me for is a foreclosure. Tenants think that we should know what is going on with the house payment at all times. Well, most of our clients make their own house payment. I collect the rent and send the proceeds to my client. I do not make the mortgage payment in most cases.
Often times, an owner goes into default with their bank only to recover and start making payments again. The deal is that until the house actually becomes owned by the bank, it is owned by our client. Until the bank takes ownership or enforces an assignment of rents, the rent must be paid to that owner or the tenant is subject to getting evicted.
So don't blame the property manager. Many times the first one to hear (except the owner) is the tenant when the house is posted with a Notice of Default. Once the sale takes place there will be ample time for the tenant to negotiate a move from the property.
Most of our clients come to us because they want to have their property managed to its’ best advantage. They know HomePointe will achieve the maximum market rent in the quickest time. They also know that HomePointe will get them good deals on maintenance and will not recommend unnecessary repairs. Finally they know HomePointe will be available to the tenant 24/7, pay the property’s bills and get them their proceeds in a timely manner. Peace of mind without having to be available for a very reasonable price.
Some potential clients do not have time to do all the work necessary to locate and screen for tenants, but still do not trust that a property manager, even HomePointe which rents to nearly 1,000 tenants a year, will do as good a job as they will. They think this because they know that their motives are only good, but the property manager may be just trying to earn a commission. This thinking is faulty since property managers build their reputation on their ability to screen and select qualified applicants. Just renting a house for a quick commission is not only unethical, it is bad for the business and its’ reputation.
In addition to this, possible Fair Housing violations are at risk for both the property manager and the owner that shares the screening and approval of rental applicants. HomePointe sets the standards for each property ahead of time. When a person applies to rent the property, they know what the standards are. HomePointe takes the application and verifies that the standards have been met. We check income, credit, and rental references and/or ownership history. If an applicant passes we rent to them. If an owner wants to have the final say, what will the owner be checking? If HomePointe has approved the application and the owner declines it, what will the tenant say? I think they have a good Fair Housing complaint. In reverse, if HomePointe declines the application and the owner approves it, what standard was ignored? Other declined applications may have a Fair Housing complaint.
For these reasons, HomePointe will not allow an owner to create a situation that may drag both HomePointe and the owner into a Fair Housing hearing and possible heavy fines.
HomePointe has been locating, screening, and selecting tenants since 1982. It’s the lease we can do! HomePointe, the place to be.
I have noted recently that there is a feeding frenzy going on with REO sales at the bottom end. Anything less than $100,000.00 list prices are getting mulitple offers within days or even hours of the property being listed on MLS.
I have heard that a lot of REO's are coming, but the lack of them right now makes it difficult to acquire properties.
This is a sure sign that we have hit bottom in that market. It will hold true as long as there are renters to fill them.
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Property Management Rentals and Maintenance in Sacramento, Yolo, Placer, and El Dorado Counties from offices located in Sacramento, Roseville, and Orangevale, CA We manage residential and commercial.
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