Thinking about owning a rental property in Temecula, CA? Already own a property in the greater San Diego area? We are here to help ensure your investment is operating efficiently and you are managing the unit effectively. Learn more about how to quickly fill vacancies in your rental properties as well as the local laws and regulations applicable to homes in the Temecula, CA area.
Having a vacant property can be a stressful time for any rental property owner. Learn our top tips for getting your Temecula rental property leased quickly to the right tenant.
Your experienced Temecula property manager can provide some guidance to efficiently get the property ready to rent.
If your home has a musty, closed-in smell, you want to take some steps to make the home smell fresh. A new coat of paint and clean carpets can make the home more inviting.
Quick updates you can do to improve curb appeal:
Don’t assume that the rent you charged in the past is still accurate. Markets change and rent rates fluctuate. To be competitive in Temecula, CA, your rent rate needs to match what is available in your area today. Pay attention to your market to know how much you can rent your home for. Your property manager will be able to give you a rental analysis that shows a rent range you can expect to receive.
You might have potential tenants coming from out of state that aren’t familiar with the Temecula, CA area, so highlight the benefits of your location and point out the convenience of your property.
When you own a rental property in Temecula, CA, how do you know all the laws and regulations that govern you as a landlord and protect the tenants? Where can you find these laws and regulations?
Are you aware of changes to the laws and regulations that apply to landlords specifically in the Temecula, CA area? You need to be.
For example, AB 1482 was a law that was introduced earlier this year that created state-wide rent control along with several other little laws that they didn’t talk about, yet they are all being enforced. The rent control law has gone through multiple changes, and it is up to you to go discover them, keep up with any changes, and most importantly know how they affect you and your resident.
No one wants to discover they have broken a law by receiving a notice that you have violated the federal Fair Housing law. You must stay up to date on the changes in the law to avoid such a situation.
There are a lot of laws to comply with, and you want to make sure you are following them all. Are you qualified to even figure out these regulations by reading these yourself?
If you aren’t interested in spending your spare time reading through websites for law changes, you may want to consider hiring a staff member to do this research for you or hire an experienced property management company in Temecula.
Making sure you have the proper business model and are operating within the confines of the law (local, state, and federal) is key to your success as a real estate investor. As a rental property owner, you should be doing everything you can to make sure your asset is protected, your tenants are safe, and you are complying with the laws.
At Mynd property management, our professional Temecula property management services can take this headache away from you. We can give you a comprehensive review of your property, and if you want to add more properties to your portfolio, we can give you advice based on your strategy and goals. We are here to help you develop a strategy for success and make sure your property is operating correctly within the confines of the law. Contact us today for more information.
Owning a rental property in Carlsbad, CA can be extremely lucrative, if operated properly and efficiently. When your property is vacant, you are leaving money on the table. We will cover how to prepare your home for leasing season in Carlsbad, CA as well as some general tips and tricks to owning a home in the greater San Diego area. In general, the area is high in rental demand and experiences yearly job market growth. Learn more about how to manage your Carlsbad rental property below!
Before listing your rental property, make sure you have the background processes ready to make finding a tenant a smoother process.
Having the right structure from the beginning will reduce your vacancy time, so your first step is to have policies and procedures in place. Set the screening criteria in a way that increases your chances of finding a quality tenant while also giving you a solid defense in a discrimination claim.
The last thing you want to do is violate a Federal Fair Housing law or find yourself involved in a discrimination lawsuit. It is important to have written criteria that meets all the laws. All the back end policies and procedures should be set before you start advertising your property.
Is the grass cut? Are there colorful flowers in the yard? Are the trees and shrubs trimmed? Is there trash in the yard or mail hanging out of the mailbox? Not only is this first impression important for attracting interest, it also sets the bar on how you want them to treat the property. It is worth taking the time to make that impression a great one. You want your property to be the one they remember for the good qualities you present.
Think about the difference between seeing a front door with peeling paint vs one with a fresh coat of paint. The front door gives the tenant some insight into how the owner takes care of their property. They are looking for someone that is going offer them a safe, well-maintained place to live.
You want to be the property they remember because it smelled good, not the one that smelled old and musty.
A bad smelling home can be an instant turn off. Fresh paint or new carpet can make a big difference in making the home appear newer and cleaner.
If you have walls or carpets with holes or spots, take care of it. You are not going to want the tenant that would accept the home in this condition. Take the extra steps to attract a quality tenant and set the bar for the condition you expect it to be returned in.
When you show an empty home, the prospective tenant can envision how it will look with their belongings inside. Don’t show a property with an old, smelly, dingy sofa in it that was left behind from the previous tenant. Get rid of it prior to showing the property. Saying “We will take care of that before you move in” isn’t good enough. Getting your property rent ready before listing it on the market will produce the best results.
Don’t feel like prepping the home? Leverage your time by hiring a Carlsbad property management company that has the vendors and resources to help you get your property rent ready quickly.
Carlsbad is a quiet little beach town located just North of San Diego that has a few specific types of renters due to its location.
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Renters in the area are a mix:
Due to the demand for housing in the area, the price per square foot is going to be high, but the values in this market are very stable.
Because the city’s populations consist of mostly retirees, vacationers, and military families, there aren’t a lot of places to work in the area as far as businesses go.
Would it be better suited for the retiree, vacationer, or a military family?
Because the value of the property is high, your cash flow is probably going to be a little lower than if you had property in another city. What you will get is a lot of appreciation. Don’t expect to put a minimum amount of money down on an investment property in Carlsbad and get a maximum amount of cash flow. However, you can expect the property to consistently go up in value year after year. Before investing in Carlsbad, consider these points and determine if that aligns with your investment strategy.
Carlsbad is perfect for someone that is looking for a property that is going to go up in value in a stabilized, smaller area.
If you are interested in investing in the Carlsbad, CA area or need management services, contact us today about Mynd’s full-service, results-oriented property management in Carlsbad.
Preparing for an emergency in the Southern California area as a rental property owner starts with understanding what an emergency is and what it is not. Whether there’s a flood in your investment home or an earthquake or a global pandemic, you need to be prepared as a landlord. We have some tips to help you adapt to managing and resolving emergencies as an investor.
Maintenance emergencies can be defined as anything that compromises the structural integrity of your house. That’s an emergency, and you’re going to want to take care of it as soon as possible to minimize the risk of loss and liability. The safety of your residents is of course your primary concern. Beyond that, you want to make sure you’re not making the crisis worse. You don’t want to let the initial problem lead to bigger problems.Water is an excellent example. Whether there’s a sudden flood due to natural disasters or you have a pipe leaking in the property, water can be traumatic for your investment. Not only does it damage your home structurally and cause destruction to appliances, furniture, floors, and personal property; it can also create the conditions that invite mold and rot. You need to handle every maintenance issue that involves water as an emergency.Make sure you can identify the necessary shut-off valves in your property. You’ll need to know where to find the irrigation line. It may be in the street or in the yard or on the side of the property. There are several locations and you need to know where they are. You also want to know where the gas lines are and how to shut those off in the event of a gas leak.Not only is it important that you understand where these things are located – you want to make sure your residents know, too. They should be comfortable finding these shut-off valves as well as circuit breakers. They should also know how to operate them. If your home is flooding, you don’t want them to wait around for a plumber to arrive. You want them to feel empowered to turn off the water and contain the damage
You need to know who to call in case of an emergency, and your residents need to have the same list of contact numbers.The current coronavirus pandemic, for example, should demonstrate the need to know where your local hospital is, how to reach medical first responders, and where to find your local CDC office. Health pandemics and earthquakes will require different emergency responses than a leak in your home or a fire in your kitchen. Make sure both you and your residents have guidelines in place and are committed to following them.When you’re pulling together your list of contact information and important documents, make sure all of it is scanned and saved and accessible. You might have a physical file of emergency contacts and insurance policies, but if you cannot get back into your property because of an emergency, you’ll need to have those things in a digital format as well. This is another tip that applies to your residents as well; make sure they understand what they might need and have all the right contact numbers in their phones or electronic files.
Remember that when you own investment property, you have a business. As a rental property owner, you have a responsibility to that business.You also have residents who are likely to be emotional during an emergency. They have their personal belongings and probably their entire lives inside your property. If there’s an emergency, they’re going to feel scared and panicked. This is normal, and you might be feeling fearful and emotional as well.But, you need to continue thinking rationally and professionally. Stop what you’re doing and take a deep breath if you’re overwhelmed. You don’t want to make things worse by overreacting or acting out of an emotional response.Preparation is a continual process. Review your plans periodically.
Over-communication Is Required During Emergencies
Communicating with your residents is always important, but during a crisis, it’s important that you over-communicate. When you have residents living in a multi-family property, make sure they know where all the exits are. Put something in writing that tells them. All of your residents need to know where the fire extinguishers are and how to use them. Make sure they’re up to date and that you have a continual process for keeping all of your emergency responses in place and relevant.Be pre-emptive. You don’t want to start communicating about what to do when you’re already in the middle of the emergency. Explaining to your resident how to shut off the water valve while the house is actively flooding will just be more stressful for everyone. You want to be out ahead of it.It’s important to know where your smoke detectors and carbon detectors are in the house. Your residents will need this information as well. Make sure you’re keeping track of the manufacturer and the dates they were installed as well. California has strict codes that manage and regulate the placement and use of smoke and carbon detectors. If those aren’t up to code and they malfunction during a fire, you’re going to have a lot of liability to deal with. This should be part of your preparation.Check those detectors. Keep track of everything and document your emergency plan and all the pertinent emergency contact information. Educate and over-communicate with your residents. These things will help you protect your residents and your property during an emergency.If you have any questions about how to prepare for an emergency at your Southern California investment property, please contact us at Mynd Property Management. We have a lot of information on how to help owners, investors, and residents to keep you educated and prepared before an emergency takes place.
If you’re renting a home in Southern California and you’re in an emergency, you need to know how to handle it and protect yourself. Preparation is key, and today we want to share a few ways that residents can prepare for emergencies – whether it’s a local emergency, global crisis, or a maintenance issue that puts you and your home at risk.
First, it’s critical to understand what an emergency actually is. People can have different ideas about what constitutes an emergency, and there are several different types that you need to be prepared to encounter.An emergency is anything that could cause harm or damage the home’s interior or exterior.Obviously, some of the emergencies included in this definition would be water damage like a flood, or a fire, or an earthquake. Those categories can cause harm and damage, and are easily classified as emergencies. A light bulb that needs to be replaced or a towel rack falling off a wall are not emergencies. Those are easy repairs that do not require an immediate response.Make sure you’re talking to your landlord about how to define an emergency. It should be in your lease agreement, along with the procedures that you’ll need to follow to report and respond to an emergency.
Depending on the emergency, you will perhaps need to reach out to authorities first, instead of your landlord or property manager. For example, if there’s a fire, you’ll want to call 9-1-1 or the fire department. Get out of the house and call for help.Find out what kind of resources have been provided by your landlord. Perhaps there’s a tutorial on how to stop a leak, for example. Maybe you have a video or a document from your move-in orientation that will help you make an initial response to the emergency. It obviously depends on what’s happening. But, you want to make sure you’re knowledgeable and aware of who to reach out to in each situation.If you’re a resident in a multi-family property, it’s important that you know how to exit your unit and your building. Make sure you’re aware of where to find your fire extinguishers and how to work them. Your smoke detectors should be visible, functioning, and up to date. These are all pre-emptive things that will help you during the actual emergency. You don’t want to be looking all over the place for a fire extinguisher during an actual fire in your kitchen. Do these reviews of emergency plans on a periodic basis so you can be sure your safety and security is intact.
You want to know who to contact and how. Stay up to date with all the local and statewide authorities. As this global pandemic has demonstrated, it’s a good idea to know how to reach the local CDC and the nearest hospitals. You want to know where all of your medical resources are and how to get in touch with the Poison Control office. Get an idea of which state and local authorities will be giving out the most reliable information. There are a lot of potential emergencies to prepare for.It’s also important to remember that your documentation needs to be protected. You may need access to your driver’s license, passport, social security card, and renter’s insurance policy information. You want to make sure this documentation is accessible. If you have everything in a physical file, that’s great. But, what if you can’t get into your home during an emergency? Keep electronic records that match everything in the cloud or a digital space. You probably don’t think about your bank account information very often, but you might need it to start some conversations and get yourself some help during an emergency.Southern California doesn’t have snowstorms or hurricanes, but we do have earthquakes. We sometimes have fires, especially if you’re living near a lot of brush or trees. Earthquakes are the biggest threat for us when it comes to natural disaster emergencies, however, and we never know when they will come. This makes preparation even more essential.Know who to call and what to do. Be proactive and communicate. Communicate with your landlord or owner, and communicate with other residents. Make sure you over-communicate to keep everyone safe. No one knows what you’re thinking. Let people know what you’re doing and what you’re worried about.Emergencies are easier to deal with when you’re working with a great landlord or a great Southern California property management company. We can help you prepare for the unexpected, so contact us at Mynd Property Management.
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Considered a solid housing market in the San Diego area, Carlsbad's real estate scene enjoys a continuous development. Located right near San Diego, Carlsbad is famous for its luscious flower fields, nice beaches with surfing ops, the fascinating Leo Carrillo Ranch Historic Park, awesome restaurants, as well as being home to the first Legoland in the United States. The city's population growth rate has increased by 1.24% in 2017, which is considerably higher than the national average of 0.7%.
Carlsbad has a diverse economy and features a great talent pool, ocean view office spaces, along with an awesome work-life balance. The area hosts some of the most innovative companies in clean tech, auction sports, information and communications technology, and life sciences. In addition, tourism is another major industry, thanks to the renowned Legoland, which attracts an influx of visitors and workers. Therefore, real estate investors can take into account investing in single-family homes as well as in vacation rental properties.
Its booming economy and increasing population growth rate make Carlsbad's real estate market an optimal place experiencing a high rental property demand. Learn more about Carlsbad, CA rental properties below and even consider the pro's and con's of hiring a property management team to assist with your Sand Diego area rental.
There are a number of factors to consider when investing in the San Diego area, including:
For more information, refer to our Knowledge Center and visit our Carlsbad, CA Property Management for local landlord tips and information. Our local team has vast knowledge and experience in local San Diego property management and can help you to have a better investment experience. We educate on topics in the San Diego area ranging from repairs and maintenance, leasing, rules and regulations and even dealing with emergencies! We look forward to furthering your rental property education.
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Sunnyvale is settled in Santa Clara County and boasts great weather, cultural diversity, excellent public parks, as well as fantastic year-round cycling ops. Home to more than 152,000 residents, the city has seen a 0.78% population growth rate over the past few years, which is higher than the 0.7% national average. Sunnyvale attracts plenty of renters and active home buyers thanks to being one of the safest US cities, offering countless outdoor leisure ops, and having a well-established infrastructure.
With its prime location in Silicon Valley, Sunnyvale is a place with numerous opportunities for real estate investors. The city enables access to one of the most cutting-edge and powerful business environments in the world and is also internationally recognized for actively empowering entrepreneurship. Its economy is stable and constantly growing, supporting major industries like Information Technology and manufacturing. This heats up the local real estate scene and indicates that Sunnyvale is a smart call for real estate investors.
There are a number of factors to consider, including:
For more information refer to our Knowledge Center and visit our Sunnyvale, CA Property Management page for local landlord tips and information. Our team has vast knowledge and experience in local Sunnyvale property management and can help you to have a better investment experience. We educate on topics in the Sunnyvale, CA area ranging from repairs and maintenance, leasing, fair housing and even dealing with emergencies! We look forward to furthering your rental property education.
