Finding a property manager is not an easy task, but devoting extra effort in the beginning will save you hours of headaches later on. If you do your due diligence, the right property manager will reward you with a worry-free investment.
The best way to find a reputable property manager is by referral. Who sold you your home? Does your real estate agent know any good property managers? Do you have friends with investments in the same area?
Ask these questions:
- Where does the property manager advertise vacant homes?
- What kind of signs do they put in front of the property?
- Do they advertise in newspapers, websites, at nearby colleges?
- How many vacancies does each property manager have?
- What’s the average length of time it takes to place a tenant?
- How much of a security deposit is required of the tenant?
- What is the monthly rent and how long are the lease terms (i.e. months, years)? Ask the manager how they came up with the proposed rent amount and ask for comparables.
- How are late rents handled? Is the process clearly written and will a tenant understand the consequences?
- Make sure the tenant’s responsibilities are clearly outlined. For example, who is responsible for keeping the lawn maintained, the tenant or the owner?
- What are the consequences of breaking the lease?
- Who will the tenant call with questions? Sometimes, property managers have different contacts for leasing questions versus maintenance issues.
There are plenty of prospective tenants for your multi-unit rental property in San Bernardino & Riverside Counties, as more Americans are renting than at any point since 1965. The market is expected to grow due to the millennial generation, many of whom are priced out of the property market or prefer the flexibility of renting.
Our management team specializes in the Southern California area and possess specific market knowledge essential in evaluating rents and knowing local market trends. The Real Estate Cafe’s management staff will offer recommendations to enhance the appeal of your property and make it rent-ready. We have years of industry specific experience and shield owners from necessary liability with protective measures all the while making the tenant feel they are being properly considered.
The Real Estate Cafe’s proprietary screening process enables us to place only the best possible tenants in your property. Our thorough screening technique for rental applicants has consistently kept us from ever having to evict a tenant we have placed. Prospective tenant screening includes running industry-specific credit reports, verifying employment, income and previous rental history. We run credit reports on all applicants (over 18) and a prior evictions search through our nation-wide database. Our screening process also includes verification of driver’s licenses and social security cards in addition to contacting their previous landlords for confirmation that they have been good tenants in the past. As a management company, we have many procedures to eliminate problem tenants prior to ever renting to them. Placing the right tenant is the single most important step in the process.
We increase your rental opportunities by placing your property over several rental websites. Besides web traffic, we use property signage and evaluate potential tenants from our trusted network. Our marketing program, combined with our leading position in the rental management industry drastically increases exposure for your rental property. Therefore within a short amount of time, we are consistently able to rent properties priced at current market rates to qualified tenants.
The Real Estate Cafe is extremely flexible with regards to maintenance. We subcontract much of your property’s maintenance needs to a preferred list of vendors to save you time and money. This relationship helps our clients receive a better than market price for most of the work requested. Should a property owner have their own preferred list of vendors, we will contact them on the owner’s behalf.
Our accounting department provides owners with confidential monthly financial statements. The monthly statement includes all financial activity and copies of the bills we paid on your behalf. This same report includes year to date information that will conveniently provide all of your annual figures for tax purposes. If you ever have questions regarding your statement, you can contact one of our helpful staff accountant members.