If you had your property on the market for rent close to 90 or 120 days it's time for new plan. Don't continue to think your price is right and renters don't know what there doing. You need to adjust your price to the market and eventually you will find a renter. Taking a look at prices every 10 days is a great plan. Keeping the same price for 30 days will not help you find a better tenant.
Good renters are smarter than you think and will find a way to get the best deal possible. Be the property with great tenants and a great rental price. Don't be the owner who has bad tenants and too high of price.
During this tough time vandalism and theft is becoming a daily occurrence in some neighborhoods. People will do anything to survive during these tough times.
If you have tenants at your property make sure to encourage them to have renters insurance. Most companies will provide renters insurance for under $20 a month. This is a small proice to pay if your tenants get all of there valuable items taken.
It takes five minutes to talk with your tenants about renters insurance. It might save your trouble down the road if something ever happens, you never know what tenants will blame you for.
Sidney Poritz
Moving might be the worst event of all time. Breaking down everything in your house, finding a truck to load all of your belongings is not very fun. You learn when moving how much you don't need. My plan this holiday season is to take all unwanted clothes and belongings to homeless areas and pass them out. Taking your belongings to Salvation Army is a good tax right off, but people who really need the clothes don't shop at Salvation Army.
My friend and I are going through another property management company and they do things a little different. I am actually interested to see what procedures they use for rental agreements and walk through. Hopefully this will be a good experience.
Recently banks have decided to start renting out their properties and not leave them vacant. Banks will start using property management companies to rent our their properties if they can't sell them. This could change the market in a bad way for investors, or people who would like to rent out there home. Banks have a lot of money and are probably willing to take a reduced price for the property. Inventory will rise for people looking for a rental and with growing inventory prices could fall.
Having a good property with a good price will always get rented. Yet it does not help investors that banks have chosen this route for homes which they cant sell. Property managers will benefit from this with more accounts, but will it hurt current homes they manage. Let me know your thoughts.
Sidney Poritz
sporitz@homepointe.com
If you have not heard already, Sacramento has decided to inspect every rental property in the next five years. This plan came about after a news article was written about landlords who were taking equity out of there property and not putting back the money for repairs. Listening to Max Fernandez talk about the program, there intentions are in the right place, but are the costs. Tenants will see these costs of the back end with higher rents, but do the homeowners deserve this costs. Many homeowners are very upset they will be charged a fee near $150 for this inspection.
Sacramento hopes to have all inspections done in 5 years, but I think once the program gets rolling they will find out the inspections will take longer than expected. My thought is a 7 year plan would have been better. Homeowners who live farther than 30 miles from the City Limits will be required to have a local contact. Getiing a property Manager is the best solution, and I am here to help.
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Property Manager and Property Management and Rentals in Sacramento, Elk Grove, Natomas, West Sacramento, Laguna including Fruitridge, Oak Park, Meadowview, South Land Park, Land Park, Greenhaven
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