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From young professionals to retirees and families of any size, more and more people are opting to rent instead of buying residential real estate. As these renters look for a housing alternative that offers more privacy and space, more and more developers adopt by creating entire communities of single-family homes built specifically for the purpose of renting.

What exactly are built-to-rent homes, and how can a real estate investor benefit from these? Keep reading to learn more.

What Are Built-to-Rent Homes?

A built-to-rent home is a single-family home constructed for the purpose of long-term rental. Also referred to as BTR homes, B2R homes, or built-for-rent (BFR) homes, such properties have become the hottest trend in the rental market over the past few years. Today, entire communities of houses built for the sole purpose of renting continue arising across the country.

While typical new-build communities are developed with prospective buyers in mind, B2R homes are designed to be used by tenants. This can affect the property itself, as well as the overall layout of the community. Typically, built-to-rent communities combine versatility (to meet varying residents’ needs) and luxury (to serve as an attractive alternative to other rental options).

Types of Built-to-Rent Homes

A typical built-to-rent home can look like a traditional, suburban family house. However, it can also encompass a variety of building plans, such as:

• Small lot homes. These are standard individual homes that have been built close together, with lots as small as 600 square feet each.
• Row homes. Row homes are built side-by-side and share a common wall in between.
• A duplex includes two rental units attached to each other.
• Horizontal apartments. This is a relatively new term describing a tight cluster of freestanding, single-family rental residences that is professionally managed by the same company.

Benefits of Investing in a Built-to-Rent Home

For investors looking to acquire a rental property, built-to-rent is often a good option. Here are some important benefits that these types of homes offer over typical rental units:

• You may be able to collect higher rent. Rent payments for single-family homes are growing at a faster rate as compared to payments for multi-family apartments. This means that with built-to-rent homes, you may be able to achieve faster growth to your passive income.
• You have more flexibility in property location. If you want to get into real estate within an up-and-coming location, building there is often easier than finding an existing property.
• You will experience less tenant turnover. While apartments typically attract more temporary renters, single-family homes are preferred by families looking for long-term housing.
• You may be able to invest in real estate with less competition. By building your own rental property, you will be able to avoid bidding wars and other competitive struggles associated with purchasing real estate.

Built-to-Rent: Additional Considerations

While building your own rental property offers several attractive benefits, there are a few other factors any prospective landlord should keep in mind.

Every experienced real estate investor knows that the less you spend, the more likely you will be able to get a good ROI. So, buying distressed property and increasing its value through renovations will often be more profitable than purchasing a new house from the builder. Your new rental property’s value will continue to increase with the real estate market while it is still under construction, which will often help to offset some of the extra costs.

Final Thoughts

Without a doubt, built-to-rent homes are a hot trend for a reason. For those who aren’t ready to buy, these units offer a more comfortable alternative to rental apartments. For real estate investors, BTR housing is a great way to get around an overly competitive market.

As with any other type of rental real estate, generating ROI from a built-to-rent home often requires the help of a professional property manager. Luckily, Lofty Property Management can help you to take care of your new built-to-rent property and ensure that your tenants are in good hands. Give us a call today to learn more.

 

Whether you are a professional landlord or just looking for a way to make your real estate work for you, it is crucial to understand how to manage a rental property properly.

If not managed correctly, even the best property will deteriorate or not add value to your investment portfolio over time. Luckily, Lofty Property Management has a few professional tips to help every potential landlord keep the property generating revenue for years to come. Let’s get started!

Professional Tips for Successful Rental Property Management

The job of any landlord can be divided into three equally important parts: managing the property itself, managing tenants, and managing finances.

1. Managing the Property

Taking care of the property itself involves maintaining the rental structure in great physical condition to ensure the safety of the tenants. For example, you need to make sure that your tenants have adequate heating and air conditioning, have access to running water at all times, and can enjoy clean and safe common areas.

This means that it will be up to you to figure out how to fix plumbing problems, roof leaks, loose handrails, faulty locks, and cracked tiles. In addition, you will have to deal with inspections from the township, the lender, and the insurance company.

Pro Tip

Regular inspections can help to minimize the risk of potential problems within the property. Some items to regularly inspect include smoke and fire alarms, HVAC systems, roof and downspouts, windows, decks, and water lines.

2. Managing Tenants

Another important part of how to manage a rental property is dealing with tenants, – and this involves much more than simply collecting rent. In addition to setting due dates and late fees for rent collection, you will need to prepare legal lease agreements, find and screen tenants, and respond to any tenant complaints and repair requests. Furthermore, as a landlord, you will be responsible for tenant evictions, which is often the most dreaded part of managing a rental property.

Pro Tip

If you are not prepared to send legal eviction notices, file for eviction with the court, and prepare your evidence for the hearing, don’t worry! You can always hire a professional property management company like Lofty Property Management to take care of all your landlord responsibilities, from beginning to end.

3. Managing Finances

The third part of how to manage a rental property successfully involves taking account of your finances. As such, you need to understand exactly how much money is coming in each month and how much money is going out.

While your rental income will often include rent payments alone, you will be responsible for a number of fees as a landlord. This includes paying the mortgage, yearly property taxes, home insurance, and any fines and additional fees based on property inspections. In addition, you would need to arrange whether you or your tenants are responsible for paying utilities like gas, water, and electricity.

Pro Tip

Maintaining organized financial records is of the utmost importance to managing your rental property stress-free. Make sure to record all the rental income coming in, along with property expenses like maintenance, trash removal, and employee payroll. Alternatively, you can hire a qualified bookkeeper to keep track of your finances.

Make Your Life Easier with Lofty Property Management

Without a doubt, investing in rental properties comes with a host of tasks that need to be completed regularly. From learning how to manage a rental property and find tenants to regular property maintenance and emergency repairs, there is a lot on any landlord’s plate.

Luckily, professional property management companies like Lofty Property Management can take a lot of the stress and responsibility off your shoulders. With a track record of success, outstanding due diligence, and a transparent fee structure, Lofty Property Management has all it takes to ensure that your property and your tenants are well taken care of. Contact us to learn more.

 

A property manager will handle your daily tasks and take care of your rental unit, making sure your business is running smoothly. This is why it’s of the utmost importance that this individual is a reliable and responsible professional. Finding pros who perform quality property management is not easy for residents of San Diego, California. 

However, knowing how to recognize potential red flags can really help you with the whole hiring process. We’ve prepared the most problematic and common ones so keep reading to learn what you should be on the lookout for. 

What should I look out for when hiring a property manager?

Every landlord wants to find a reliable and trusted property manager who can deal with common problems that occur when running this business and successfully complete all the necessary tasks. In order to locate them, avoid those who show the following red flags:

1. No proof of performance

Property managers should be able to provide data on how successful they’ve been with managing their properties. Although they cannot disclose detailed numbers due to the client’s protection they can show you statistics and tenant testimonials. If they cannot provide any information it can mean they’re disorganized or don’t know how to do their job. 

2. Inattentive

You want to hire an individual who will carefully listen to your needs, problems, and expectations. If you notice a lack of genuine interest in your rental property or that the person does not pay enough attention when you’re talking about your main goals, this is a major red flag. It means this person is not focused and passionate about giving your property the attention it needs.

3. Isn’t familiar with the market

Your reliable property manager should have a clear idea of the types of properties they manage, what communities they serve, and what tenants they’re focused on. If a manager doesn’t know enough about their own market and what their job covers they won’t know much about how to help you. Apart from that, your manager should be experienced in your type of market so that they have the knowledge on how to assist you.

4. Too busy

If a manager seems too busy, distracted, and overwhelmed you should try to find out how much time and energy they can spend on your property. Make sure the company you hire isn’t overloaded so that they can really fit into your schedule. They should have enough time in the day and enough staff to properly manage each and every tenant. Watch for the signs such as tardiness, bad communication, and inattentiveness. 

5. No plan

Your professionals don’t have to reveal all their secrets during the initial consultation but they should give you an overview of their operations and provide you with a step-by-step plan. Try to find out about their methods of filling vacancies, how they collect rent, and who will handle maintenance. A genuine and well-organized professional should think in advance and have attention to detail. 

Who offers reliable property management in San Diego, California and the area?

If you’re looking for a company that offers professional and quality property management services, Lofty Property Management is your perfect choice. We thoroughly screen our applicants and hire only devoted and responsible experts for your peace of mind. They’ll follow a carefully devised plan while providing you with a customer-oriented approach. They’re able to promptly solve your problems and make sure your business runs in a smooth and optimized way. 

Whether your property is near Shoreline Parks or in the vicinity, feel free to contact us today!

Owning a real estate property can be a great source of passive income. However, day-to-day tasks of a rental can be extremely demanding and time consuming, making it feel like you have a second job. Although it’s tempting to take on these operations yourself, you’ll quickly realize it requires a lot of time and commitment on your part. 

Dependable property management can offer you a peace of mind that your rental unit in San Diego is being taken care of and managed in a professional manner. To get a full insight of why you should hire a professional to manage your property, we’ve prepared 7 benefits you can reap from this decision.

 

What are the benefits of hiring a property manager?

If you can’t decide whether you need a real estate agent or not, consider the following advantages:

1. Tenant screening

A seasoned and knowledgeable manager knows who is a worthy candidate for renting a property and who is not. They can identify potential red flags and help you avoid getting bad renters who can hinder your business. These experts are skilled at finding reliable applicants who will stay long-term, pay rent on time, and take care of your property.

2. Tenant management

Communicating with tenants can be a little tricky sometimes if you don’t have enough experience. The expert you hire will be able to handle tenant complaints, issues, and late payments in a peaceful and proactive manner for your peace of mind. 

 

3. Maximizing your profits

A reliable property manager has the expertise on how to minimize the downtime of your real estate not being occupied. They also know how to set a competitive price that maximizes your income while reducing the vacancy rate.

4. Better property maintenance

Poor maintenance can decrease the value of your property and increase tenant retention. This is why you need professionals that will perform regular and preventive maintenance inspections and provide you with an in-depth report. They also have good connections with various contractors and will ensure you get cheaper and better property maintenance faster.

5. Rent assistance 

A reliable property manager can help you set the rent while making sure they secure and collect the payments for you. This is of great importance since rental income is what keeps the business moving forward. 

6. More free time

While your rental property manager takes care of your day-to-day tasks, you’ll have more leisure time to focus on the things that are more important. While your business is flourishing, you’ll have more time for your personal interests.

7. Peace of mind

Knowing a qualified and experienced person is in charge of your rental offers you a peace of mind. This stress relief is one of the most important advantages of having someone to keep your property running smoothly.

What company offers reliable property management in San Diego and the surrounding areas?

If you want to place the management of your property into the hands of professionals who know ins and outs of this industry, Lofty Property Management is your go-to company. With years of experience and a completely client-centered approach, we can offer you a quality service and completely streamlined process for your peace of mind. Forget about usual property manager red flags, because our pros will make sure your property is well maintained, your tenants satisfied, while ensuring your business is thriving not stagnating. 

Our thorough and detail-oriented approach is there to ensure your peace of mind and more free time for you and your loved ones. While you take a stroll down Chollas Lake Park or nearby, we’ll manage your rental and your tenants the right way. Get in touch with us today!

Managing your property in a profitable and professional way is not an easy task. You probably have numerous duties, from getting more bookings and performing tenant screenings to collecting rents and handling complaints. If you want to make your life easier, you can look for reliable property management companies in San Diego, CA, and the region.

Until you decide whether you want professional assistance or not, we’ve prepared another set of possible issues you’ll likely grapple with. Keep reading to learn more.

What are frequent problems with property management?

Here are few other problems you should address if you want to stay relevant and competitive in the market:

Problem 1: Staying up to date 

Constantly keeping up with the property market is of great importance if you want to beat off most of the competition. It is crucial you are familiar with the market changes such as the use of automation systems in property management, rising taxes, or economic decline.

Solution: Finding proper resources

You should be selective when choosing the materials you’ll be reading. For example, focus on easy-to-read resources backed up by research. You want to be able to gain knowledge and information by reading a text rich in examples and statistics.

Problem 2: Tenant retention

When a tenant moves, it brings a lot of challenges such as finding a new one, performing property inspections, renovations, sanitizations, and replacements, all of which bring additional expenses. If it occurs that many tenants leave your property, it can be a sign you need to change the way you manage your property.

Solution: Communication

Instead of waiting until a big problem arises you should tackle the issues on time. Focus on keeping track of all communications with tenants and carefully listening to their needs. When in need of repair or clean-ups, reach out to reliable third-party service providers.

Problem 3: Billing and payment collection

Rent collection is a challenge many landlords face. Whether it’s a late rent payment or missed payment, it is a reason for concern. Irregular payments eat away the profit and can cause severe losses to your property.

Solution: Advance rent collection process

You should send notices when the rent is late and include a penalty or a late payment fee. Hire a person who’ll collect rent so that tenants have to prepare it on time. Apart from that, one of the solutions is to automate this process by using billing and payment softwares.

Problem 4: Constantly upgrading guest experience

Ensuring the guest experience is constantly improving and up to standard is one of the most common problems landlords face. If you don’t boost the quality of the services you offer, someone else will do that and you’ll probably lose valuable customers.

Solution: Maximum customer satisfaction

When managing your property and planning further improvements, you should always keep your clients’ safety and comfort in mind. You should get to know them better so you can use a personalized approach and meet their expectations more easily.

What are some of the most reliable property management companies in San Diego, CA?

Whether you need someone to thoroughly screen your tenants, collect rents or provide you with a free rental analysis, Lofty Property Management is at your disposal. We’re a company dedicated to helping landlords manage their property in a successful and stress-free manner. We boast years of experience and a multitude of satisfied property owners. 

We use a streamlined and customized approach to get optimal results. Don’t worry about unreliable and incompetent managers, our pros are qualified, capable and well-versed in their trade. Whether you own a home, condo, or a townhome near Upper Otay Reservoir or in the surrounding area, feel free to get in touch with us today.

Being a landlord and managing one or many properties can be truly demanding. The good news is that it can get much easier with a bit of knowledge and organizing. You should plan your tasks carefully, analyze the problems and find ways to solve them. Apart from that, you can opt for help from one of the property management companies in San Diego, California, and the area. 

Until then, we’ve taken a look at a few common problems every person in this industry shares, along with some practical ways to efficiently solve them. Keep reading to learn more.

What are the common issues with property management?

If you’re a rental property owner, you probably come across various challenges. It‘s crucial to address them and make sure they don’t hinder the growth and success of your business.

Problem 1: Property damage issues

You probably understand how significantly property damage can impact the profitability and success of your business. There are various causes: from storms, rains, fire, and thefts, to normal wear and tear, damaged roofing, or guests thrashing your property.

Solution: Regular maintenance

This is why it’s important you keep an eye on your property and perform regular maintenance. You should also try to prevent hazards by detecting potential risks. Invest in security and safety systems such as cameras, leak detectors, fire alarms, and get your landlord insurance.

Problem 2: Getting more bookings

It’s not easy to advertise your property and make sure it stands out from the crowd. The industry becomes more competitive each year, making it a challenge to get a bigger number of direct bookings.

Solution: Advertise online as much as you can

You should have an online booking site where you’ll post regularly and update it with new information. Another marketing platform you can use is social media, as well as a free and useful option such as Google My Business.

Problem 3: Pricing management

Following the market trends and determining the proper price for your property units is not an easy job. You want your tenants to be satisfied and willing to stay at your property, but you also want your business to thrive.

Solution: Pricing tools

If you want to find ways to make profit you can keep track of the way competitors run their business, use pricing tools, or ask professionals to perform a rental analysis for your peace of mind. In addition, if you decide to increase the rent, make sure you notify your renters politely and in advance. 

Problem 4: Communication with tenants 

Working with people is a both rewarding and demanding job. It’s not easy to manage every customer and establish organized communication with each of them. However, this is the key to building strong relationships with your customers. 

Solution: Effective communication

In order for you to earn your client’s trust, you should be able to communicate clearly, and handle tenant complaints professionally. Organize so as to be able to answer promptly, know their rights and needs, and keep them updated at all times.

What is one of the best property management companies in San Diego, California, and the region?

Property ownership and management is a complex and demanding job that requires the help of a professional. Luckily, Lofty Property Management is there to offer you the assistance you need and deserve. From tenant screening and carefully listening to your requests and expectations, to detecting and solving the ongoing issues, rest assured your property will be managed and maintained in a completely hassle-free way. 

Our staff is background checked and fully qualified, so don’t worry about inattentive and inexperienced managers, you won’t find them here. We offer you 24/7 emergency service as well as free rental analysis. If your property is near Murray Reservoir or nearby, feel free to contact us today!

Whether you’re planning to hire an expert in property management or you want to manage your property in Clairemont Mesa on your own, it’s important to know what responsibilities this job brings. 

Fortunately, if you do the research and learn more about this type of management, you can ensure you or the professional you’ve hired have carried out all the duties. Read on to learn more about the roles, duties, and responsibilities of a property manager.

What are the main responsibilities of a property manager?

Professional and dependable property managers should be able to perform the following tasks:

Find and screen new tenants

Tenant management is one of the main responsibilities of your estate manager. This includes attracting and finding prospective tenants. After advertising your rental unit, and choosing the applicants that stand out, your expert should perform a thorough screening process before choosing the renter for you. They should be familiar with your preferences and requirements, such as whether you want to allow pet owners on your property.

Handling complaints and problems

Your manager should take care of your tenants and ensure they’re happy. This means they should handle complaints, prepare meetings, and resolve issues between tenants. Their duty is also solving the problems such as writing a late payment notice or having a tenant who hides their pet. This means he’s in charge of both tenant’s and landlord’s complaints.

Setting, collecting, and adjusting rents

The manager sets the rent price, which means they should be familiar with the rental market and set the price so the tenants are attracted while ensuring the landlord has an appropriate rental income. An expert should also adjust the rent when needed while also setting the system for collecting it. This includes deadlines and penalties for late payments and taking legal actions when needed. 

Property maintenance

Managers are responsible for taking care of the property so that it’s presentable, habitable, and fresh. This means they’re in charge of organizing clean-ups, repairs, and regular maintenance. They should react promptly and find solutions quickly so that the tenants are satisfied. The manager should ensure the property is a safe and healthy environment for the tenants.

Eviction and move-out handling

Your manager will be in charge of evicting difficult renters in a right and legal way. When the move-out happens, they should inspect the rental unit and check it for damages. If everything is in good condition, they will complete the move-out and return the security deposit. They take the portion of the security deposit in case damage is located on the property. 

Being up to date with landlord-tenant laws

Every reliable property management should have extensive knowledge about tenant rights and be up to date with any changes. They should be familiar with the rules and regulations about screening tenants, deposits, lease agreements, as well as safety standards.

Who offers dependable property management in Clairemont Mesa and the region?

If you’re tired of managing the property on your own and want to take a break, outsource these demanding tasks to Lofty Property Management. We’re a team of dedicated professionals who are focused on providing their clients with quality service and ensuring they get the assistance they deserve. 

Our thorough approach ensures both landlords and tenants are satisfied. While you recharge in Presidio Park, we’ll take care of everything, from screening tenants to collecting rents and solving complaints. Contact us today and get your free rental analysis.

Every landlord wants to run a profitable and successful rental business while also protecting their investment. This is why it’s crucial to become familiar with your rights and legal responsibilities, but it’s also essential to understand tenant rights. This way you’ll know how to avoid any mistakes and violations.

Whether you’re managing your rental property on your own or you’re hiring one of the reliable property management companies in Clairemont Mesa, you should be familiar with the most important tenant rights. Keep reading to learn more!

What rights does a tenant have?

Take a look at the following tenant rights:

Right to a habitable home

Every tenant’s basic right is to live in a habitable home. That means it should meet the building, safety, and health codes. As a landlord, you should ensure livable conditions including working plumbing, electricity, and heat. If not, a renter has the right to leave the property or argue a constructive eviction in court.

Right to freedom from discrimination

Your tenant shouldn’t be discriminated against in terms of sex, race, color, religion, status, disability, or nationality. All actions and policies should be applied to everyone. Every renter should have the same terms and conditions, as well as privileges. You should also get familiar with the local and state discrimination laws and disability accommodations. 

Right to privacy

The renters have the right to privacy and to live in a home without being disturbed. You, as a landlord, can enter the property only for specific reasons and with proper notice (24-48 hours in advance, except for emergencies). When you enter the property, it should be at a reasonable time and with a valid reason. Harassing the tenants verbally or in writing is prohibited, too.

Eviction rights

Advance notice of eviction is the next important tenant right. A landlord should provide it in writing and at least 30-60 days in advance. However, in cases where the tenant has committed lease agreement violations, the notice can be as short as three to five days. The renters also have the right to file for eviction with the court.

Security deposit

If the occupant has met the terms of your tenancy agreement, he has the right to receive the deposit 30-45 days after the move-out. A property owner can apply to make deductions from the deposit in cases of unpaid rent, damage to the property, and sometimes for cleaning the property. The tenant has the right to agree to or challenge these deductions.

Reporting repairs 

The resident of your property has the right to report the repairs that need to be made. A lessor’s or property manager’s responsibility is to respond to these reports and finish the repairs in a timely manner. A renter has the right to withhold rent money if the repairs that affect the safety or health are not done (for example a broken heating system in the winter).

 

Where can I find one of the most reputable and trusted property management companies in Clairemont Mesa?

Here, at Lofty Property Management, we can help you with all the tasks property management brings. Our experts boast years of experience and a client-focused approach. We can help you with setting and collecting the rent, solving a problem with a late rent payment, or a renter who tried to hide his pet. 

They can also introduce you to some tips and tricks of management, such as the advantages of allowing pets on your property. Our experts also have an in-depth knowledge of tenant rights and can help you with legal actions.

While you take a day off at Shoreline Parks, we’ll take care of tenants, rents, and complaints instead of you. What are you waiting for? Give us a call today, or get a free rental analysis on our user-friendly website.

 

Property ownership is a thriving business that also brings certain problems, dilemmas, and responsibilities. Numerous things are on your mind, from regular maintenance to screening tenants and marketing your property. Then, there’s the question of whether to allow pets on your property or not. It’s possible that if your new tenant has a pet or has lied about having a pet, you might be thinking about the ways to deal with it. 

If you want to get the professional help and experts that will effectively take care of your business, you can turn to one of the most reputable property management companies in Clairemont Mesa and the surrounding areas. Until then, keep reading and you’ll find some useful facts about pet owners and landlords you should know.

How often do tenants lie about their pets?

Although there are good sides to allowing pets on a property, there are many homeowners that are not pet-friendly. This is why tenants tend to lie about having a pet – they want a chance to live in a residence they’ve chosen. Around 18 percent of landlords allow all types of pets around their property and many charge pet fees. This might be the reason why at least 78 percent of landlords have caught a tenant lying about keeping a pet. 

What can landlords do about it?

As a landlord who’s just revealed that his tenant keeps a pet without your permission, you can take a photo of the pet, so you have the proof. After this, you should write a 7-10 days notice on the door. This is a legal notice that tells the tenant they are violating the lease, and that they should resolve this problem as quickly as possible. If not, you have the right to file an eviction. 

Can a Landlord Say No to Pets?

The law allows landlords to deny pets, or evict the tenant if they violate the lease that specifies pets are not allowed. If you let your tenants bring pets, according to the law, you can place restrictions on the type and size of them. 

However, service animals are an exception. They’re not seen as pets, but rather as an important part of disabled people’s lives. These animals have a great purpose because they can help blind people or assist those with a certain emotional disability. That said, if your tenant’s service dog has a long history of biting, you have the right to ban it from your property.

What is a Blanket Ban on Pets?

This is an allowed ban on pets in terms of tenancies and long leases. In most cases, a landlord must have reasonable arguments for this (a dog is dangerous, or a dog’s too big for a small apartment). If the ban’s not mentioned in the lease agreement, it’ll be harder for the landlord to successfully argue that pets are not allowed. Also, the tenant has the right to keep the dog if the landlord’s arguments are not reasonable and the animal is well-behaved and suitable for the property. 

What’s one of the most reliable property management companies in Clairemont Mesa and the surrounding areas?

If you’ve decided you don’t want to continue dealing with the tenants’ rights alone, or you have no more energy for the numerous responsibilities of a landlord, you’re at the right place. At Lofty Property Management, you can find only capable and seasoned professionals that will make sure your business is flourishing without your being stressed and worried. 

If you are near Mission Basilica San Diego de Alcalá, or you are living in the nearby areas, you can count on us to take care of your business in a responsible and efficient way. Call us today, or ask for a free consultation.

Being a landlord is a demanding job with various responsibilities. Working with people is both rewarding and challenging. Having new tenants often brings new situations and many different questions. You might need to deal with noise complaints, unpaid rent, picky tenants, or renters with pets. 

This is why many people hire professionals to do this job on their behalf. Until you find your go-to professional for property management in Clairemont Mesa and the surrounding areas, read on to learn more about the pros and cons of allowing pets on your property.

Why should I allow my tenant to keep their pets?                                                       

Although you might doubt it, you can benefit a lot from allowing pets on your property. Some of the advantages are:

1. Higher rent

Fair market rent determines your current rent, but if you allow pets on your property, you’ll be able to increase your rent and cover potential damage to the property. If you’re one of the rare owners that allow pets in your community, renters will be prepared to pay more, so they can keep their furry friends.

2. A larger pool of applicants

Since a great percentage of households own a pet, you’ll advertise your property more easily and attract a larger number of applicants. Having a larger tenant pool will make it easier for you to pick the tenant that best fits your requirements. 

3. Longer tenure/lower tenant turnover

Keeping tenants at your property is essential, and allowing animals will ensure a longer tenure. A high tenant turnover can cost you money and time, so this is a good way to avoid it. Having an opportunity to settle in with a pet will make your rental feel like a permanent residence. 

4. Responsible pet owners – responsible tenants

Having a pet brings a great number of responsibilities and takes a lot of time and attention. Pet owners are more likely to be devoted and respectful while taking care of your property. They usually pay more attention to the cleaning and maintenance of their residence.

Why are pets not allowed on rental properties?

 

Allowing animals into your rental can cause you certain problems, too. This is why tenants sometimes lie about having a pet.

1. Damage

Your property can sustain certain damage from pets. This could mean additional costs for repairs and clean-ups. Some of the problems that might occur are chewed wires and cables, ripped pillows, scratches on the furniture, stained floors, etc.

 

2. Noise

Pets, especially dogs, cats, and birds can make excessive noise. Barking and other sounds can disrupt neighbors or other tenants. If some of your tenants are sensitive to noise or don’t like pets, you can expect complaints from them. 

3. Odor and allergens

Uncleaned pet litter boxes, pet accidents in the hallways, as well as pets that are not properly groomed and bathed, can bring odors inside and around the unit. Although you or our current tenants are not allergic to pets, remember that allergens can stick around for an extended period of time and cause problems for the future tenants.

4. Increased vacancy

These potential problems, along with the possibility of a dangerous dog biting one of your tenants, can make people leave your property. Therefore, increased tenant vacancy might be one of your problems, too. 

 

What company offers reliable and expert property management in Clairemont Mesa and the vicinity?

 

Every property owner should have a capable and responsible pro to help him with property ownership. Lofty Property Management offers experts that have years of experience under their belts and the necessary skills to provide the service that meets your needs. 

Whether you’re not sure about your tenant’s rights or you’re burdened with all the responsibilities property management brings, our specials are at your disposal.

If you live near Tecolote Canyon Natural Park or you’re from the surrounding areas, feel free to contact us and get a free rental analysis from our friendly customer support.

A perfect trick for making your rental estate business thrive is knowing how to present your property in an attractive way. The competition is big and tenants search for different house and apartment features so this is not an easy job. That is why many landlords have their go-to property management company. If you live in Mision Valley and the vicinity, you can find some very reliable professionals that will do the property advertising for you.

If you want to do property marketing on your own, keep reading and find some useful tips to help you.

How do you attract tenants in a tough market?                              

The rental market has been expanding over the years, making it harder and harder to compete. Whether you’ve just become a landlord or you have some experience in renting, attracting a great number of tenants is your top priority. Although every person is unlike in kind or character, some things can charm everyone:

Be flexible, easily available, and communicative                                   

Make yourself easily reachable and answer promptly. Tenants are more likely to renew their leases if their landlord is giving his best to be available. Having good communication skills is also a plus. Show the willingness to answer all of their questions and be flexible about the time of the meeting.

Make tenants’ life on your property easier

Fix what’s broken and replace the things that are no longer working. Think like a renter and imagine what would you want to see in your new house. It goes without saying that everything should be clean, tidy, and well-kept. Think about the household necessities, even about getting a lawn mower.

Show your property’s potential

Take your time and write down the best features of your property. These won’t be perfect for everyone but will help you find and attract the attention of the target audience. Whether it is a safe neighborhood, a good location, or an attractive interior, highlight it when promoting your property. 

Get the best of your location

Be familiar with your area amenities. Research them thoroughly to be prepared for any question. Knowing good sides of your neighbourhood will help you convince your future tenants to move in. Think about any local amenity a renter might be looking for (nightlife, shops, dog parks, playgrounds, schools, universities, parkings, etc.)

Pay attention to little things 

Offer some refreshments, sweets or cookies. This might sound silly but it will show off your hospitality skills and make you stand out from the rest of the landowners. This will give you an opportunity to form an even better relationship with your possible tenant.

Take professional pictures

Great professional pictures can really attract tenants. This way they can easily picture spending their day in your house. Making a video is even better option, as prospective tenants will feel like going on a genuine walkthrough.

What are renters looking for in a house?

There are certain factors that can really help the renter decide if he/she will choose a house or not:

• Safe neighborhood
• Nearest shop
• Proximity to university, school or work
• Parking                                                                                                           
• The overall state of property
• Attractive kitchen and bathroom
• Appliancies
• Storage units
• A yard or a garden
• A landlord who understands tenant rights
• Natural light

Where do I find top-rated property management company in Mission Valley and the vicinity?

Taking care of your investment is a demanding and tiring job. As a landlord, you have to successfully promote your property, carefully deal with rent prices, and manage late rent payment on your own. This is why you should have a professional and reputable company on your side. 

Our experienced pros will help you overcome any difficulty while letting you experience prompt 24/7 emergency service. We thoroughly screen our pros and your tenants in order for you to be satisfied and relaxed. 

If you live near Balboa park and need a hand in managing your property, give us a call and rest assured that it will be in good hands!

 Managing your rental is a demanding job, and when your tenant is missing a payment, things can get even more complicated. You can easily fall behind on your own bills which can lead to late fees. Whether it’s a little delay or your tenant has a history of paying late, you don’t want your business to operate at a loss so you should act quickly.

If you don’t feel like dealing with it on your own, there are always great property management companies in Mission Valley, CA. To find out how to handle this situation by yourself, keep reading!

How do I write a late payment notice?

There are different ways to approach delays in payment, but writing a late payment notice is among the better ones. It is a notice written and signed by a landlord. This way you can formally remind the tenant that the rent is overdue. It should include a grace period, a late fee for past-due rent, and legal actions that will be taken if the rent is not paid. This guide can be especially helpful for first-time landlords.

What to include

There are certain parts and information that every good late rent notice should include:

• Date of the late payment notice
• Name(s) of the occupants
• Name of the landlord or a manager if you have one
• Address of your rental
• The total amount of a rent that’s overdue
• Grace period
• A late payment fee if the rent is not paid by the end of the grace period
• The total amount owed (rent amount and late fees included)
• Date rent is to be paid before you take legal action (eviction proceedings)
• Form of payment you accept
• Consequences of late payment (legal actions you’ll have to take)
• Landlord name
• Signature of landlord or manager if you have one
• Date signed

Grace period

It is the number of days between the date rent is due to be paid and the date the late fee is activated. This is the period that can be written in the rental agreement. It can be written by a landlord even if the state does not require a legal one. 

Many landlords opt for this because mistakes and delays happen whether tenants pay online or in an old-fashioned way. But you should be careful since some tenants will see this as a chance to pay later than expected.

If it’s stated in your rental agreement, it should be written in the payment notice, too.

Late payment fee

Another important term is the late payment fee. It is a fee charged by the homeowner when the occupant does not pay rent on time. It is used to make sure that tenants pay on time since they are aware there will be certain consequences if not. For legal purposes, the fee should be written in the rental agreement. This allows you to mention it while writing the late notice.

How to find quality property management in Mission Valley, CA?

Many landlords stress about the unexpected situations rental ownership brings, and it’s perfectly normal. You might not be sure how to win over a picky tenant or how to increase the rent in a polite way. All these concerns can be solved in a prompt and professional way if you hire Lofty Property Management pros. This company makes sure both landlords and tenants are satisfied with the services.

You can visit Balboa Park while seasoned professionals screen your new tenants or do a free rental analysis. Contact us today and enjoy our 24/7 emergency assistance.