Scott Taylor

Our normal lease term is 1-year. Sometimes we are approached and asked if the owner would consider a multi-year lease at a reduced rate. I'm not against a multi-year deal; but what assurance do you have that the tenant is going to stay in the home for the entire term. I would advise that if you do go for a reduced rate, on a multi-year contract, that you include some language in your contract like:

"Landlord and Tenant have entered into an agreement wherein the original rent amount of X has been reduced to Y based on a longer time period contract than normal. Tenant agrees that if they do not serve out the entire lease term that landlord is entitled to receive the full amount of rent X back to the beginning of the contract. The back rent may be taken from any funds held by Landlord, or Landlord's representative, including but not necessarily limited to security deposits, pet deposits, last month's rent held, or any other Tenant funds in Landlord's possession."

What this clause is essentially saying is this. Let's say that normal rent is $2,000 under a 1-year deal. They offer you $1,900 under a 2-year deal, and you accept that offer. They leave in month 18 of a 24 month contract. You have been receiving less than you should under the contract for the last 18 months; you are out $1,800 dollars. You want to be able to, at a minimum, get your money from any of the Tenant's money that you are holding.

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Scott Taylor is the principal property manager and co-owner of SCV Leasing in Santa Clarita, California. SCV Leasing serves Valencia, Stevenson Ranch, Newhall, Santa Clarita, Saugus, Canyon Country, Fair Oaks Ranch, Castaic, Sand Canyon, and Westridge with homes for rent, condos for rent, and property management services.

His experience as a rental property owner and as a property manager makes him the best choice for managing your rental. SCV Leasing's unsurpassed marketing plan puts renters in properties fast. Mr. Taylor can be reached at scott@scvleasing.com.

If you have ever considered managing your own property, please take with you the following list of pitfalls that many self-managed landlords fall into. If you need advice on any of them, please call us. We will always be glad to consult with you at no cost.

1. Not running their rentals like a business.
2. Not fully screening applicants.
3. Not reviewing State landlord/tenant laws.
4. Failing to have a written agreement.
5. Hiring the wrong contractors and repair people.
6. Not enforcing late rent policies.
7. Not inspecting your property on an annual basis and automatically replacing smoke alarm batteries and filters.
8. Entering a property without proper reason or notice.
9. Not using the advice of an eviction attorney when dealing with a non-paying tenant.
10. Not setting rents to reflect current market rates.
11. Poor record keeping.
12. Not maintaining the property.
13. Not properly handling deposit refunds.

It should go without saying that by hiring and keeping a professional property manager on your team, you help avoid these common pitfalls!

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Scott Taylor is the principal property manager and co-owner of SCV Leasing in Santa Clarita, California. SCV Leasing serves Valencia, Stevenson Ranch, Newhall, Santa Clarita, Saugus, Canyon Country, Fair Oaks Ranch, Castaic, Sand Canyon, and Westridge with homes for rent, condos for rent, and property management services.

His experience as a rental property owner and as a property manager makes him the best choice for managing your rental. SCV Leasing's unsurpassed marketing plan puts renters in properties fast. Mr. Taylor can be reached at scott@scvleasing.com.

I have three scenarios for you to consider today. And they aren't farfetched; they actually happened to real property owners.

1. Its 2:00 a.m. in the morning and your phone rings. It's your tenant. He was awakened by a dripping faucet and he wanted to let you know right away. He was up, so why shouldn't you be?
2. Your tenant has been in your rental property for 6-months. Now he has ants and he wants you to spray for them. He starts talking about the property being unfit to live in, quoting the health laws, and talking about not paying rent until you remedy the situation.
3. You offered a "one month free rent" promotion to get your unit filled. The tenant moves in, and then never pays rent again.

You already have a full-time job, why do you need another? There are 173 working hours in the normal month, not counting weekends or nights. If you save $140/month because you don't want to hire a manager, you are pocketing a whopping $0.80/hour. And you don't even want to run that calculation for the 24-hour a day coverage that most managers offer.

Take the everyday worry out of your life. Property managers carry the stress and burden for you. They provide you separation from the tenant. They keep you in line with the current housing laws. They keep your property rented at market rate. And, it's all tax deductible. That's a good return on your investment.

If your still not convinced that property management is for you, then please visit our website at www.SCVLeasing.com and view our Common Pitfalls of the Self-Managed Property. We are always available for a no cost, over the phone, consultation.

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Scott Taylor is the principal property manager and co-owner of SCV Leasing in Santa Clarita, California. SCV Leasing serves Valencia, Stevenson Ranch, Newhall, Santa Clarita, Saugus, Canyon Country, Fair Oaks Ranch, Castaic, Sand Canyon, and Westridge with homes for rent, condos for rent, and property management services.

His experience as a rental property owner and as a property manager makes him the best choice for managing your rental. SCV Leasing's unsurpassed marketing plan puts renters in properties fast. Mr. Taylor can be reached at scott@scvleasing.com.

Your first experience finding a rental was most likely in you early 20s, where the criteria was price, proximity to university or work, and price. It involved a lot of time in the classified section of the local newspaper and phone calls, which may or may not have allowed you to see the properties in a timely manner. But you were young and had the time.

But as we all mature, our criteria mature, making the search more challenging. Your criteria may now involve proximity to good schools, two work locations, transportation networks, safe neighborhoods, allowance of pets, as well as a reasonable price.

The answer to this challenge is using the Multiple Listing Service (MLS) to help your search. The MLS helps prospective renters find exactly what they are looking for in the same way as it helps prospective buyers. The MLS helps save time and frustration by showing what is being offered for rent in your target area by motivated property owners. The MLS often has photographs of the properties, detailed descriptions of the residence, and even neighborhood reports.

And by enlisting the services of a professional property manager, the prospective renter has further reduced frustrations. A professional property manager is skilled in finding your next rental property based on your unique criteria. They understand the local area and can help to fulfill your unique needs. They can arrange to show you the properties you are interested in, take you through the lease signing arrangements, and find you your next home.

If you like to spend your Saturday afternoons in the classified ads, go for it, but not to find your next rental. The MLS and your professional property manager can make finding your next rental home easy.

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Scott Taylor is the principal property manager and co-owner of SCV Leasing in Santa Clarita, California. His experience as a renter, property owner, and property manager makes him the best choice for managing your rental. SCV Leasing's unsurpassed marketing plan puts renters in properties fast. Mr. Taylor can be reached at scott@scvleasing.com.

We have recently been approached by various owners that want to rent their properties out on a month-to-month basis. Most of these owners have been "stung" by previous tenants. It's possible that the tenant wasn't properly screened; but it's also possible that bad things just happen. Either way, the owners think that a month-to-month arrangement would work in their best interest. The theory goes, if I don't like them, then I can get rid of them.

From a professional standpoint, here are a couple of things to consider. First, finding a quality tenant is time consuming. We advertise, show property, prepare paperwork, perform move-in inspections, set-up electronic transfer files, and send out copies of documents to all parties. These services are just the first things we do, and as you can imagine, they don't come free. If you had to pay these fees every six months, you would be losing serious money. On a personal level, I'm fine with it because that's just more revenue for me. But for an owner, I wouldn't recommend it.

Second, if you advertise for month-to-month then that is what you are going to attract - tenants that are more transient in their plans. They may be well qualified, but contractually they don't have to stay. Most of the people that respond to these month-to-month ads are transitioning between houses. Perhaps they sold house A and are still looking for the perfect house B.

Finally, good tenants don't want to have a month-to-month hanging over their heads. Moving is expensive. In eighteen years of marriage, my wife and I rarely argue. The exception to that rule is when we move. So, we hire a moving company when the need arises - even though it is expensive. Similarly, your tenants want the security of a fixed cost contract and a fixed term contract. This is especially so if they have children in a certain school or school district.

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Scott Taylor is the principal property manager and co-owner of SCV Leasing in Santa Clarita, California. His experience as a renter, property owner, and property manager makes him the best choice for managing your rental. SCV Leasing's unsurpassed marketing plan puts renters in properties fast. Mr. Taylor can be reached at scott@scvleasing.com.