Reported an issue with my A/C and Chad Santos responded in a very prompt and timely manner. He scheduled a vendor to make the repairs and everything was done within a day and a half. Great service and very professional.
Tech-enabled rental property management in Santa Rosa- North Bay
Stress less. Earn more.
We'll help make your North Bay investment a home
White-glove property management made simple
- Personal service
Put your investment in safe hands
Meet your Portfolio Manager: it’s their job to make sure everything’s running smoothly at your place. They’re backed by a team of local experts for round-the-clock support. We’ll only bother you when things really need your attention, and when you need us, we’re just a phone call or message away, and available for emergencies 24/7.
- Hassle-free repairs
Take the stress out of maintenance
Keep your home in shape and your residents happy without the hassle. Mynd makes it simple to approve requests and estimates and track their progress from your desktop or phone. With a network of vetted vendors and a team of in-house trade specialists that reviews every bid, you can rest assured you’ll get the highest-quality work without overpaying, ever. We pass volume discounts on materials back to you, and you can wave goodbye to markups forever.
- Digital leasing
Lease your home in record time
With Mynd, finding someone to call your place home is a breeze: the average Mynd home is leased within 2 weeks. We market your home on 40+ websites and bring it to life with 3D tours. We’ve made it simple and safe for residents to find, tour and apply for your property, so you can find a verified resident and start generating cash flow faster.
- Quality residents
Residents who’ll treat your investment like their own
At Mynd, we know that happy homes make the best investments. Our residents are rigorously screened for credit, income, and rental history to ensure you get the best possible match for your home. Our resident response time is under 2 hours, and we have a 24-hour emergency access line to assist with any situation immediately. With our income protection guarantees, your cash keeps flowing, no matter what.
- Powerful insights
Control your cash flow on the go
Take the guesswork and the paperwork out of managing your cash flow. When you lease with Mynd, we’ll collect your rent digitally and deliver it on time every month. You can see your cash balance in real time and run powerful reports anytime from your phone or desktop.
Fair pricing. Guaranteed.
No setup fees. No marketing fees.
Four or more homes?
This premium plan may include a concierge service for owners and institutional investors who have a larger portfolio of homes. Pricing is customized to meet your needs.
Results are guaranteed
$5,000 Rental Income Guarantee
Your residents could lose their income at any time, which could impact your steady rental cash flow. This Rental Income Guarantee program is unique from others you will find as it actually covers up to $5000 in risk of rental loss.
$5,000 Eviction Protection Plan
If your resident is unable to pay rent, you may need to evict them. This could be a very costly process. Under Mynd’s Eviction Protection Plan, we cover the court costs and legal fees up to $5,000, making sure your cash flow is steady and protected.
What we love about Santa Rosa- North Bay
The Bay area has everything-- it's why you're thinking about coming here! We're waiting for you.Sarah FranklinRegional Director- West
In house techs + extensive vendor network
Reviews & awards
My property agent and later mortgage agent was Todd Franklin. Todd’s service was excellent. He helped me hone my property search to find exactly what I was looking for. He also helped secure a mortgage in a difficult situation. He was creative and tenacious during the entire process and without his help I doubt the transaction would have occurred.
Alexandria was very helpful with a property we're interested in. She was very professional, yet personable at the same time. She spent the better part of an hour helping me and answering my many questions. Alexandria is an asset to Mynd and your customers.
Santa Rosa- North Bay trends and insights
Let’s make your house a home.
Schedule a free consultation today.
Why is property management important?
Typically, an owner or investor can’t provide everything that Mynd can provide. Digital leasing Legal and compliance Online portal Quality resident screening Financial reporting Electronic rent collection Dedicated portfolio manager Repairs, inspections, & maintenance 24/7 Emergency Support And more.
What questions should I ask a property manager?
In addition to asking a property manager about their experience, you should ask them how they would behave in particular scenarios. How would they deal with a resident who is regularly late with rent? What would they do if they got a call at 3 a.m. that a pipe had burst? What gestures would they perform to increase resident retention? A property manager has to be ready for anything, but they also need to know whom to go to when they need help.
What makes a good property manager?
Expertise and level-headedness are crucial to good property management. A good property manager knows how to talk with people, negotiate prices, and anticipate challenges. A good property manager also needs to maintain a professional, respectful, and amiable demeanor no matter what's going on. Property managers see it all, from renters excited to find a new home to residents in challenging circumstances facing eviction. Through it all, property managers need to know what to do and how to do it calmly.
What is included in Mynd property management?
Digital leasing Legal and compliance Online portal Quality resident screening Financial reporting Electronic rent collection Property service Cash flow monitoring Dedicated portfolio manager Repairs, inspections, & maintenance 24/7 Emergency Support Access to an experienced property management team And more!
What are the tax benefits of owning rental properties?
There are benefits associated with single-family rental homes that can ease the tax burden. Among the expenses that can be deducted are: Mortgage interest Insurance costs Marketing budget for a property Fees charged by a condo or homeowners association (HOA) Property taxes Services the investor pays for (gas, gutter cleaning, etc) Professional fees associated with income property, such as legal expenses or budget keeping. Mynd has a primer on the 20 percent Qualified Business Deduction, one of the hidden tax benefits related to rental property ownership . And Mynd has a complete list of 31 tax deductions that are available to landlords that are often overlooked. To avoid paying capital gains taxes when it comes time to sell a property, a seller can execute a 1031 exchange , which shields the profits from the sale of a property if it is used to buy another property of equal or greater value. But there is a time limit of 180 days for the purchase of a new property, which can put pressure on a buyer to accept a less desirable deal. There’s yet another tax break for rental property owners known as the Qualified Business Income (QBI) deduction , which allows deductions of up to 20% off taxable rental income. The QBI has a threshold of $315,00 for married taxpayers and $157,000 for everyone else. Any income that falls below the threshold is allowed the full 20% deduction. Those who make more than the threshold can still get the deduction, but it’s a new and complicated deduction so a tax professional should offer guidance.
How do you calculate cap rates?
Calculating a property’s cap rates is the industry standard for estimating its potential rate of return, and is equivalent to the net operating income (NOI). It is an estimate of cash flow income and, if an acquisition was made in cash, it is the return on investment (ROI). If an investor financed their purchase, those monthly mortgage payments need to be factored in to calculate the ROI. The basic formula: Capitalization Rate = Net Operating Income / Current Market Value (Purchase Price) However, there are other costs to take into account when calculating a property’s true cap rate. These are steps to do that. Calculate the gross annual income. This is the rental payments, plus any other income-producing business associated with a property. Subtract 10 percent of the total annual rental income to account for a potential vacancy. Subtract ALL operating costs for the rental: management costs, taxes, utilities, insurance and any other expenses such as maintenance, to determine Net Operating Income (NOI). Next, divide the NOI by the acquisition cost for the property, including brokerage fee, closing costs, and all the renovation costs necessary to make it “rent ready.” The result will be the cap rate, expressed as a percentage. The cap rate will change in year two once the one-time closing costs are no longer factored. But annual maintenance will need to be factored in, which will average approximately 1.5 times the monthly rental rate, the so-called 5x rule. For instance, home renting for $1,200 a month will cost about $1,800 a year to maintain. The formula assumes that acquisitions are all cash and do not involve finance charges. If a purchase is financed, those interest and principal payments need to be added to operating expenses. This will determine the return on investment (ROI). The relationships between rents, operating costs and acquisition costs are intertwined. If a property costs more, it will need to fetch a higher rent to achieve a cap rate associated with cheaper properties in the same neighborhood. To calculate rental property returns and income taxes , Mynd offers a table that lets an investor plug in the numbers for a particular home and get results that can help them decide if an investment makes sense.
What is a good cap rate for investment properties?
What constitutes a good cap rate depends on investment goals, and can vary from region to region in the country. Some strive for a cap rate as high as 10 percent, but in a competitive market that is more difficult to achieve, and properties with these rates of return are often in less desirable neighborhoods, which pose higher risks. These days, a cap rate of 5-6 percent for single-family rentals in many hot markets is a more reasonable expectation. Some investors believe that properties that have a 7-8 percent cap rate offer a good balance of risk and stability. In general, higher cap rates have a higher upside, but there are usually pitfalls associated with them, including purchases in areas where turnover is higher, tenants who rely on government subsidies, amenities are scarce, and quality of life issues like crime are an issue. Lower cap rates are to be expected in more stable neighborhoods, where returns are likely to be more predictable, but investors can look for greater appreciation on the value of a property. But measuring the cap rate does not tell an investor all that needs to be taken into account, because it does not factor in leverage, the possibility that a property will increase in value, the time value of money, and future cash flows from property improvements and other factors.