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San Diego

Property Management

Our team of local professionals at Mynd Property Management are different than other San Diego property managers. Servicing the greater Carlsbad, Escondido, Irvine, Hillcrest and Temecula. Mynd knows San Diego areas, we leverage real-time data to consistently better our services, providing owners with seamless management experience.

Customers working with Mynd can rely on us as their trusted partner, providing them with a healthy investment, and their residents with a happy home. Trade, tourism, and manufacturing were once San Diego’s greatest investments, now, it’s residential real estate. It’s time to make your real estate investment work for you

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Mynd's rental income guarantee

Rental Income Guarantee

We protect your rental income

If we place a resident and they fail to pay rent at any time during their lease, we reimburse you up to $5,000 in lost rent while we resolve the situation.

Mynd's property damage protection guarantee

Property Damage Protection

WE PROTECT YOUR PROPERTY

If a resident we place moves out and leaves behind property damage in excess of their security deposit, we will cover the difference, up to $5,000.

Mynd's eviction protection plan guarantee

Eviction Protection Plan

WE PROTECT YOU

If a Mynd-placed resident fails to pay rent and an eviction is required, Mynd will cover the court costs and legal fees up to $5,000.

SELECT YOUR AREA TO VIEW PRICING

Pricing Plans That Suit Your Needs

CORE SERVICE PLAN

$99
Monthly Management Fee
$1,000
Rental Leasing Fee
$349
Lease Renewal Fee

AVID INVESTOR PLAN

$129
Monthly Management Fee
$750
Rental Leasing Fee
$199
Lease Renewal Fee
checkmark - feature included
Rental Income Guarantee
checkmark - feature included
Eviction Protection

PEACE OF MYND PLAN

$169
Monthly Management Fee
0%
Rental Leasing Fee
$0
Lease Renewal Fee
checkmark - feature included
Rental Income Guarantee
checkmark - feature included
Eviction Protection
checkmark - feature included
Property Damage Protection

Don't Take Our Word For It

Results You Expect

Your rental property is one of your most valuable assets. You expect concrete, tangible results, and Mynd delivers. We focus on measurable results that you can see.

Mynd offers faster leasing times

Faster Leasing

Quicker than average leasing times.

Mynd responds quickly to resident and owner communications

Quick Response

Less than 4 business hours for owners, less than 8 business hours for residents.

Mynd finds high quality residents

Quality Residents

Higher than average resident quality score (720+)

Mynd offers low delinquency rates

Low Delinquency

No need to worry about rental payments, less than 2% delinquency.

Mynd's high customer satisfaction scores show high resident satisfaction

High Resident Satisfaction

Consistently high customer satisfaction scores (Better than 4/5)

Mynd's NPS score shows higher owner happiness rates

Happy Owners

Net Promoter Score of 58 versus industry average of 7

Meet Your Local Superstars

We start by hiring the best people with deep local expertise.We equip them with the tools, technology and data. You get results.

Meet

Kyle

Portfolio Manager

Kyle is a genuine San Diego native who studied Business Management at the California State University of San Marcos. He was born in Southern California and raised as far south as El Cajon and as far north as Escondido, with friends and family members everywhere in between. His entrepreneurial, sales, and negotiating background with a love for working with people led Kyle to begin his real estate career and develop his passion for asset management. As a motivated and professional San Diego Real Estate Agent and Property Manager, Kyle actively searches to advise, assist, and/or help clients through the real estate process. Kyle loves to go to the beach on his days off, as well as spend quality time with his friends and family.

San Diego

San Diego has a vast naval and student presence, which means a never ending stream of new tenants. That brings with it a need for rigorous occupant screening. Thanks to Mynd’s property managers, vacancies will be minimized. We’ll check credit scores, conduct background checks, and meet one-on-one to make sure your renters are on the level.

And leave the upkeep to us! Repainting, deep cleaning, recarpeting: we’ll take care of it all! And we’ll take care of all the marketing, open houses, and rent collection, too! Yeah, Mynd property managers do that much for you so that all you have to do is profit

Kate
Leasing
Kathleen
Accounting
Gina
Resident Services
Matt
Maintenance

San Diego

San Diego

5920 Friars Road, Suite 104
San Diego, California 92108
United States

Mynd Property Management is local
(619) 550-4667

San Diego

Certain neighborhoods, like Pacific Beach, are close enough to the water that they require extra measures of care due to their regular exposure to salt water. We will ensure your San Diego rental property is taken care of. Explore our resources below to learn how Mynd's San Diego property managers will make sure no unexpected damage comes to your home!

Thinking about purchasing a rental property in Tacoma, WA? Learn how looking at the rental statistics, the demographics, and having a local property manager as a partner can ensure you are looking at real numbers when deciding if the area fits your investment strategy.

Before investing in an area, you will want to look at the demographics, home prices vs rental prices, forecasted economic growth, and other important statistics to see if it fits with your investment strategy to help you reach your goals. Will the area give you the cash flow or appreciation you are looking for?

About Tacoma, WA

Tacoma, WA, one of “America’s Most Livable Cities”, is a port city on the Puget Sound and is known for being one of the most walkable cities in the US. From its beautiful waterfront to its numerous city parks that include the country’s second largest city park (700 acres), the area has seen a 12% population growth since 2010.

Tacoma property management

Tacoma offers more affordable investment opportunities than the Seattle area which can be expensive.  Cash flow opportunities are better in Tacoma because the prices of homes are not as high.  

Home prices in Tacoma

Median home price: $354,019

Home prices have gone up 9% in the past year.

 

Diverse types of renters

Commuters – Many choose to work in Seattle but live in Tacoma because it is more affordable.  

Students - Several universities are in the area including the University of Washington’s Tacoma campus, so there are a lot of student renters.  

Military - McChord Air Force Base is South of Tacoma, so there are military families renting in the area as well.  

Between the port, universities, military presence, and proximity to Seattle, Tacoma is a great area for investors looking for an area whose economy is being fueled by a diverse mix of industries.

 

Economy and industry in the area

Tacoma is the 7th busiest container-handling port and attracts businesses in multiple industries. It is known for its high-tech industry that includes Intel and Expedia which are headquartered there. Agricultural and forest products are also large contributors to the local economy.

  • Unemployment rate: 5.3%
  • Average income: $75,649

Tacoma has seen steady job growth over the last 10 years and expects 39.9% in future growth. With its strong industry presence and growth record, it is a great place to invest in rental property for less than a home in a Seattle would cost.

If you are considering investing in Tacoma, contact us at Mynd. We can help you determine if this market fits your strategy to reach your goals. If it doesn’t, we have offices in 19 markets and can help you find an area that does.

How to accurately set rent for my Tacoma, WA rental property

The rental market is cyclical, so you want to make sure you set rent to match today’s prices. Just because you rented your property for a certain amount 3 years ago doesn’t mean it will rent for that amount today. The price could be higher or lower depending on what the market says is the going rate. To avoid extended vacancy time, you will want to accurately price the property, so you are getting the maximum return while also filling the vacancy quickly.

Tacoma rental statistics

  • Median rent for a single-family home: $1750
  • More single-family homes available since 2007
  • 45% Renter Occupied
  • 55% Owner Occupied

Steve Rozenberg, Head of Investor Education for Mynd, says he sees this as a good, steady mix of renter/owner occupied homes which makes it a great market to have a rental property. You should always be able to find a renter.

Knowing the trends and statistics for the area is key to your success as an investor.  Consider hiring a local Tacoma property manager like Mynd who can help you determine the correct rent rate.  Mynd has access to proprietary information so you are getting current, accurate numbers to base your decision on. If you want to know what you can expect to rent your home for, Mynd offers a FREE rental analysis.

 

Why should I hire a property management company in Tacoma, WA?

What does a Tacoma property management company do?

They take care of the day to day operations required when you own a rental property such as:

Do you have the time to manage the property? How valuable is your time to you? If you are managing it yourself, do you know that you are doing it correctly and following the laws?

Landlords must comply with ever-changing laws and regulations

Landlords must comply with Federal, state, and local laws that apply to rental properties. These laws are constantly changing, and as a landlord you are expected to keep up with them.  If you must evict a tenant, there may be new laws in place that limit how you can do that. If managing property isn’t your full-time job, you are more likely not up to speed on current laws such as:

  • 120 day notice to purchase property if you intend to change the use of the property
  • 60 day notice of no cause termination of a resident
  • 60 day notice of rent increase
  • Several tenant’s rights laws. For example, tenants can complain to the city of Tacoma about code enforcement violations.

There are a lot of laws that have to do with tenant’s rights, and you must be sure you comply. If you aren’t up on the laws, you may find yourself getting in trouble which can cost you $1000s in fines and court costs.

 

Consider hiring a Tacoma property manager

Our Tacoma property managers can help you make smart decisions and ensure your property is following the laws. Mynd has in-house counsel to help ensure your property is complying with the laws.  Contact us today at Mynd about property management in Tacoma or finding your next investment property in one of the19 markets we serve.

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As an investor, you want to know that investing in a rental property in Everett, WA aligns with your strategy and helps you achieve your goals. Identifying the right data and numbers to calculate your return is an important step in making an informed, smart decision.  Having a local partner like a property manager makes this process easier.

What kind of return do you want from your investment property?

Are you looking for monthly cash flow? Is the property you are looking at going to give you what you need to at least cover your expenses?  Are you only interested in appreciation or debt paydown?  Your strategy must be defined before you start looking for a property.  

About Everett, WA

Everette is a coastal city on the shores of Port Gardner Bay and is located 25 miles north of Seattle. It attracts families with its world class schools, over 30 city parks, and numerous outdoor sports, activities, and art experiences.

Everett population and home prices

  • Population: 111,000
  • Average age: 33
  • Median income: $57,999
  • Median home value: $362,000

 

The median income for the area is about average for the US, but the home prices are significantly higher than average. You might be able to make enough cash flow to cover your expenses, but you are more likely looking at making your money in appreciation.

Many of the homes in the area were built between 1970-2000.  Being older properties, they may require some maintenance or updates to attract a quality tenant and meet Property Code.

 

Everett Property Management

 

Industry and the Economy

  • Unemployment rate: 5.8%
  • Cost of living index: 116.2  (US average is 100)

Boeing’s 747, 767, 777, and 787 Dreamliner airplanes are constructed in the world’s largest building located in Everett, and they offer a popular tour of the facility. Everett’s proximity to Seattle is an advantage because it is going to be fed by the strong industry nearby.

Best neighborhoods in Everett

  • Darlington
  • Edgewater
  • Pinehurst
  • Riverside
  • Bayside
  • South Forest Park

When you buy a property in one of the more popular areas, you are probably going to see more appreciation. With an average age of 33, residents are likely families interested in the quality schools in the area.  They are also more likely looking homes with multiple bedrooms for their growing families.

 

Talk to an Everett, WA property manager about the local market and what trends they are seeing. They can answer questions like:

  • Is the city growing?
  • Are rents going up or down?
  • What is the average eviction rate?
  • What are the average days on market?
  • What is the average vacancy?
  • What type of homes are rented quickly? What are most people looking for?
  • Are there certain features people are looking for in a home?

These are the questions you want answered before purchasing a property, so you have the proper expectations. Contact us at Mynd for more information on the Everett area. They can tell you what types of properties are renting quickly, what renters are looking for, and more.

If Everett doesn’t fit your strategy, we can help you find a market that does. Mynd has offices in over 19 markets. Our local property managers can use Mynd’s proprietary data to help find you properties that match your strategy, whether you want to invest locally or diversify across several markets.

 

How to Accurately Set Rent for my Everett, WA Rental Property 

It is important to know what the market is dictating when setting rent for your Everett rental property. The goal is to get the right amount of rent while leasing it quickly, so pricing it right is critical.

Leasing has seasons

You might not be able to get the same amount of rent if you lease your property in the Winter (off season) vs the Spring/Summer months (peak season).

The economy can affect rent

If the industries in the area are in a downturn or upturn, that can influence the rent you can expect to receive.

Everett rental statistics

  • 42,000 housing units
  • 37% Owner Occupied
  • 67% Renter Occupied
  • 44% single family homes 36% Apartments
  • Median rent: 1,990
  • 48% of homes were built between 1970-1999

The rent amount will vary depending on the property type, square footage and number of bedrooms.  When comparing rents, look at properties that are the same as yours. Being that many of the homes are older, you may find you can get a little more money in rent by doing some updates to the property.

Mynd’s Everett Property Management company offers a FREE rental analysis so you can see what your property can expect to rent for.

 

Why Should I Hire a Property Management Company in Everett, WA 

When you own a rental property there are a lot of day to day operations to take care or not to mention all the ever-changing laws you must follow.  Should you continue to do this yourself or does it make sense to hire an Everett property management company?

 

Treat your investment like a business.

If you own multiple rental properties or plan to in the future, the tasks required increasingly take up more of your time.  Keeping up with all the laws you must comply with can become a heavy burden.  Maybe you got into investing because you wanted a safe, secure retirement investment or passive income, but you did not realize the amount of time that was involved in managing it yourself.  You thought you were gaining free time and ended up having a second job.

It is entirely possible that you will not end up where you hoped because you may not be doing something right. Not complying with a law could result in your ending up in court owing $1,000s in fines.  

Getting that great deal when you buy the property is only the first step in the process that leads to your success. Steve Rozenberg, Head of Investor Education for Mynd, thinks it is important to have a team to help you maximize your return.

 

What does an Everett property management company do?

They take care of the day to day operations required when you own a rental property such as:

They know the laws and regulations

You must follow Federal, state, and local Property Code that dictate how a property must be maintained. When it comes to fixing things in the property, who is responsible for them? The tenant or the landlord?  There are things you can’t ask on an application or during the screening process.

Landlords must comply with Federal, state, and local laws that apply to rental properties. These laws are constantly changing, and as a landlord you are expected to keep up with them.  If you have to evict a tenant, there may be new laws in place that limit if or how you can do that.

Maintenance issues

Mold can be a problem in the Everett area due to the amount of rain it gets. You will need to make sure the roof, ventilation, and plumbing is in good shape to prevent mold.  There are laws that protect the tenant to ensure they have a safe home to live in. Property managers know what you have to do to comply with any laws in regards to Property Codes.

If you don’t have the time or desire to keep up with the laws and regulations, it might be a smart decision to hire a knowledgeable property manager.  Mynd has local property managers that know the laws to ensure you are following them as well as in house legal counsel.

A good property manager helps you make smart decisions and ensures your property is following the laws. Contact us today at Mynd about property management in Everett or for help in finding your next investment property in one of the 19 markets we serve.

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On August 31, 2020, California Governor Gavin Newsom (D) signed AB 3088 into law, providing state-wide protections for tenants and landlords in the face of the ongoing coronavirus pandemic. The safeguards extended to tenants worrying about evictions and to landlords concerned about foreclosures. 

Moratorium Eviction Extended

Tenant relief act legal document


AB 3088 limits a landlord’s ability to evict a tenant for non-payment of rent. To make use of this protection, the tenant must submit a declaration signed under oath of financial hardship due to the financial burden experienced between March 4 – August 31. A valid declaration will prevent evictions from occurring before February 1, 2021. 


For hardship stemming from the coronavirus pandemic between September 1, 2020 – January 31, 2021, tenants are expected to pay 25% of expected rent to avoid eviction by January 31, 2021. 


Do Tenants Pay Rent?

The expectation of rent has not been eliminated. Instead, unpaid rent cannot be the reason for eviction for tenants that have experienced financial hardship and submitted a valid declaration. Tenants will still be responsible for paying back rent to landlords, who can begin to recover their debts through a civil small claims lawsuit on March 1, 2021. 


The jurisdiction of small claims courts will be temporarily expanded to allow landlords to recover unpaid rents. 


Unpaid rent isn't waived under AB 3088. Instead, it's converted into consumer debt collected in small claims court as early as March 1, 2021. If a tenant cannot meet the 25% rent minimum, AB 3088 would only provide eviction protection until February 1, 2021. If a landlord attempts to use extrajudicial self-help, such as shutting off utilities, threats, or coercion, to generate an eviction, then the landlord may face penalties as high as $1,000 to $2,500. 

California’s COVID-19 Tenant Relief Act Tenant Protections

The following legal and financial protections will be extended to tenants


  • The notice period for nonpayment of rent will increase from three days to 15 court days so that tenants have more time to respond to the landlord's notice to pay rent or leave. 
  • Hardship declaration forms must be provided with any eviction notices for a failure to pay rent. 
  • The hardship declaration forms provided by landlords must be provided in the language in which the rental agreement was negotiated. 
  • Landlords are also required to provide tenants with a disclosure explaining their rights under AB 3088. 
  • Expands the "just cause" protections described in AB 1482 to all tenancies, including tenancies less than one year, affordable housing, new construction, and single-family homes.  
  • Local ordinances that were in effect as of August 19, 2020, will remain in effect until their expiration, while future ordinances cannot undermine AB 3088. 


AB 3088's protections are extended to most tenants if they sign a declaration that they've been financially impacted due to the pandemic. What constitutes "COVID-19-related financial distress" includes:


  • Increased expenses due to the health impacts of the COVID-19 pandemic
  • Increased childcare or eldercare responsibilities directly related to the COVID-19 pandemic.
  • Loss of Income caused by the COVID-19 pandemic.
  • Higher-income tenants (those whose household income is over $100,000 or with over 130% of median household income) must provide documented proof of financial loss related to COVID-19.

California’s COVID-19 Tenant Relief Act Eviction Notices


When a landlord delivers an eviction notice for failure to pay rent, a financial distress form must be provided. The tenant has 15 days to sign and return the financial distress form. The economic distress form does not cover months to come, so that the process may be repeated on a month to month basis. The declaration is signed under "penalty of perjury,” so if a tenant provides knowingly false information, they can be charged with perjury. 


Lawful eviction that has nothing to do with unpaid rent caused by the coronavirus pandemic can move forward as early as September 2, 2020.  That means landlords will be able to pursue:


  • Eviction against nonresidential tenants
  • Evictions for lease defaults stemming from reasons other than nonpayment of rent.
  • Evictions for missed rent payments before March 2020 
  • Evictions for nonpayment of rent unrelated to the coronavirus pandemic.
  • Evictions against tenants willfully damaging property.
  • Evictions against tenants engaged in criminal activity. 
  • Evictions against tenants who violate the lease or rental agreement in other ways.


Evictions for unpaid rent will resume on October 5, 2020, for tenants that do not submit a financial distress declaration.


Evictions for reasons other than nonpayment of rent cannot be performed as retaliation against nonpayment of rent due to the coronavirus pandemic.


Individual cities may have their own eviction moratoriums, and tenant and landlord protections that may be more robust than that provided by AB 3088. For this reason, it's critical to consult both the stipulations outlined by AB 3088 and the stipulations, if any, of one's local jurisdiction. 


If a locality passed a new moratorium after August 19, 2020, then it cannot take effect until February 1, 2021. Ordinances that expire before February 1, 2021, cannot be extended until February 1, 2021. Finally, if a local jurisdiction establishes its repayment period, it must begin on or before March 1, 2021.


Given the complicated nature of the law, it's advised that tenants contact an attorney if a landlord provides notice of eviction. There are many free legal aid foundations to reach out to. The Legal Aid Foundation of Los Angeles, for example, offers free legal services to over 100,000 residents of the greater Los Angeles area. 

California’s COVID-19 Tenant Relief Act Landlord Protections


AB 3088 does not protect landlords from foreclosures, nor does it require banks to provide forbearance. Instead, mortgage servicers must contact borrowers before pursuing foreclosure proceedings with forbearance options. 


Dual tracking, when a provider initiates foreclosure proceedings while considering loan modifications with the borrower, is also forbidden. 


If forbearance is not an option for a small landlord, then the mortgage servicer must provide a written explanation. These protections extend to January 1, 2023.

Bottom Line on AB 3088

Due to AB 3088, California will keep a dramatic increase in residential evictions at bay through the early part of 2021. Although, further action by the federal government is required to ward off the true extent of the pandemic's effects. 

Notice of Eviction Tenant relief act


If you have rental properties, your property manager should be able to support you in navigating the changing regulations around tenant protections. To learn more about Mynd Management's services, contact getstarted@mynd.co


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San Diego’s economy is booming, but don’t just take our word for it. Look at the cranes dotting the skyline, indicative of new development. Notice restaurants packed to the brim, a sign that disposable income is on the rise.Or, just look at the data.

Unemployment Rate

Recently released data find that the region’s unemployment rate, which had already been trending downward, fell yet again/

San Diego’s unemployment rate has now reached an impressive 17-year low.

To put that in context: the region’s unemployment rate is lower than both the state and national averages. More locally, San Diego fared better than its neighbors in both Riverside and Los Angeles.

San Diego’s unemployment rate is the 7th lowest in the nation among the 25 most populous metros San Francisco earned the top spot in Q4 2017, with an unemployment rate of just 2.7% -- not all that much lower than San Diego’s.

What’s more, among that same group of 25 metros, San Diego experienced the second largest year-over-year decline in unemployment.

So, what’s driving this trend?There are a few employment indicators worth highlighting.First is the net new number of jobs added to the private sector payroll. In Q4 2017, the region added approximately 22,100 jobs – a 1.5% increase in total number of jobs. This puts San Diego about squarely in the middle of the pack relative to other metros.

Second is the shift in seasonal employment. San Diego’s unusually low unemployment rate is driven, at least partially, by seasonal hiring that occurred in Q4 in advance of the holiday shopping season. San Diego’s retail trade had the largest month-over-month increase of all the employment sectors, according to BLS data.

Yet when adjusted for seasonal swings, the San Diego unemployment rate still hovered around just 3.5%, and “showing a jobless rate well below 4% underscores the tightness of San Diego’s labor market,” explains Lynn Reaser, chief economist for the Fermanian Business & Economic Institute at Point Loma Nazarene University.In order to sustain this near rock-bottom unemployment rate, the city will need to attract more workers to San Diego. Employers are ready and eager to put down roots in San Diego, but there’s growing concern that if they do so, they won’t be able to find the workforce they need.

“Growth in the long run is really based on bodies, having more workers,” says Chris Thornberg, economist and founding partner of Beacon Economics. Thornberg explains that more housing is necessary if San Diego is going to attract more people to the region.

Thankfully, San Diego IS building more housing. In fact, San Diego apartment deliveries hit a record high in 2017. This might not be enough to satiate pent-up demand, but it is at least a step in the right direction.

The strength of the local economy is an important indicator as to how well a local housing market will perform in the near future. By all accounts, it seems as though the underlying market fundamentals in San Diego will ensure robust employment for the foreseeable future—great news for anyone interested in investing in San Diego-area real estate.Interested in learning more about the San Diego market?

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You’ll need to know what constitutes a maintenance emergency and how to handle them. That’s the topic of our discussion today.

What Is A Rental Property Emergency?

A maintenance emergency is anything that could damage the structural integrity of your home.This could be through water, fire, or any other major hazard. Emergencies require immediate action. Changing a light bulb isn’t an emergency situation, obviously. But, water is an emergency. If there’s a leak in the home, it can lead to a lot of damage and huge expenses. You need to figure out where the water is coming from and what kind of damage it may be doing.

Responding to Rental Property Emergencies

To effectively respond to a water emergency, you’ll need to know how to shut the water off and stop the bleeding. You need to know how to identify the issue and also how to prevent it from recurring.When an emergency occurs, make sure your resident knows what to do and how to mitigate the damage. For example, you want your residents to know where the water shut off valve is located. If you share this information ahead of time, you won’t have to drive over to the property to shut the valve off yourself.As an investor, this is an important lesson. Not only do you need to know where that shut off valve is yourself; you also need to communicate that to your residents before they move in. Tell them where it is and how to shut it off.It always seems to happen that emergencies tend to occur at two or three in the morning when everyone is asleep. It’s important that everyone knows how to stop the emergency no matter what time of night or day.

Habitability Issues and Maintenance Emergencies

If a house has two bathrooms and one of those bathrooms isn’t working, then it’s not an emergency because there is another functioning bathroom.However, if the home only has one bathroom, the property is uninhabitable when that toilet stops working. It would be considered an emergency. This is clearly stated in the property code, and you can find in the current laws. The language is clear that issues leading to unsafe or uninhabitable homes are considered emergenciesIn San Diego, it may not seem like an emergency if your air conditioning is not working. But, in Arizona, a broken air conditioning unit would absolutely be considered an emergency. It’s important to understand how you define an emergency before you even get going. What an emergency is to the resident may be completely different to what it is in the property code is and what the law says.

Acceptable Emergency Maintenance Timeframes

Always check the property code for guidelines and requirements when it comes to how quickly you respond to an emergency maintenance situation.Treat every emergency maintenance situation with a clear sense of urgency. Document when the call comes in and track everything that you do. This may be important later on if the residents try to claim that you didn’t respond to an emergency in the appropriate timeframe. You’ll want to demonstrate that you mitigated the damage and worked as quickly as possible to take care of the problem.Develop a process and put it in writing. Then, follow it consistently every time there’s an emergency maintenance issue that requires your response.

Working with Licensed and Insured Vendors and Contractors

Make sure you’re sending the right vendors to get the job done. You want to make sure the right person is licensed and insured and specializes in the area of the emergency. Sending a general handyman over to take care of a major pipe burst is not going to help you. Rely on professionals who understand how to respond quickly and completely.You always want to have a licensed and insured person do the job because it protects your property and provides peace of mind. There’s also a legal necessity. If you file an insurance claim, the insurance company might want to know who worked on the problem and what their qualifications are. So, maintenance emergencies are not the best time to cut corners or try to save a few pennies. Do it right, and work with good vendors who provide a valuable service.Always work with licensed and insured contractors. Hiring just anyone because you want to save money can lead to huge financial losses. The liability and risk is huge.If you have an emergency, make sure you can identify if it is truly an emergency. See if you can stop the emergency from getting worse, and figure out where it is coming from. As soon as you’re able to contain the problem, you’ll want to start working a solution. Evaluate what kind of expertise you need, and then call those professionals. Always be sure you’re operating within the confines of the law, and fix the situation completely.Working with a professional San Diego property management company is an excellent way to protect yourself and your property from maintenance emergencies. A good property manager is available to your residents 24 hours a day and has a list of preferred vendors who are quick to respond and do great work. You won’t have to worry about a process or a plan, because your manager is sure to have one already.We can be your San Diego property management resource. Contact us at Mynd Property Management to learn more.You can also visit our Facebook group of investors, which is called Master Mynd. It’s a real estate investors’ club, where you can exchange ideas with other owners. Check out our weekly podcast as well, called The Myndful Investor. We invite leaders in real estate and property management to talk about their success and, more importantly, their failures. There’s a lot to learn from this relatable content.

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San Diego is a bit of a unique city, and there are a lot of interesting dynamics to it. As an investor, you need to pay attention to these five things when you want to succeed in the San Diego market.

Study the San Diego Real Estate Market

San Diego is North America’s finest city for a number of reasons.

It really is all about location, and you have to understand San Diego’s geography and know how to make it work for you when you’re choosing an investment property. We do have everything here in San Diego. Kyle was actually born and raised in the area, so he knows the entire county and why it’s such a great place to visit and to live and to invest.

San Diego provides the beach. It also offers mountains and snow within two hours of downtown. People can enjoy lakes and hiking trails and plenty of golf. There’s consistently nice weather all year long, and that’s why people are moving to San Diego. This is a highly desirable area for people, and successful investors understand the city and its surrounding area. You don’t have to spend time in San Diego before you buy an investment property, but it might help you make smart decisions if you can get a feel for the place.

Commit to a Long Term Investment

When you invest in San Diego, you can be confident that there will always be a demand for rental homes in the market here. Home prices are consistently stable and continually rising despite minor dips and values in our market.

Rent prices are also stable. Investing in San Diego successfully means approaching the process with a plan for longevity. You’re not going to cash flow a house and get in and out of the market profitably in a year or two. You need to settle in for a long term investment. With home prices stable and rising, you can count on your investments to earn you some great long term returns and ultimately, some steady cash flow. Don’t look for ways to make quick money. You’ll be more successful as an investor when you hold your assets for at least 10 or 20 years.

Prepare for Changing Real Estate Trends

A lot of potential investors may be looking at San Diego and feeling like the market is too expensive. Entering the San Diego real estate market can seem prohibitive, and it may look like there’s a bubble that’s ultimately going to burst soon. If this is your concern, you’re partly right. But, that doesn’t mean you shouldn’t invest in San Diego. You can still do it successfully as long as you’re prepared.

There are frequently dips and peaks in the value of our market here in San Diego. They happen. But, they happen in every market across the country. This is a big part of investing in real estate. Looking at the bigger picture, you can count on making a good investment when you buy property in San Diego. Take a look at home prices. Yes, it’s expensive to buy a property. But those prices are continuing to rise and have essentially almost doubled in some areas. They will only continue to climb higher.

When you look at the big picture and you remember that you’re committed to longevity, homes are going to continue to maintain their value and even increase. A successful investor will not panic if the market takes a dip or things suddenly look uncertain. Make strategic moves, not emotional ones.

Understand Your Resident Pool

The smartest and most successful San Diego investors understand the pool of residents in this city. One of the best things about owning rental property here is that the local economy isn’t reliant upon a single industry to keep the city profitable and employed. San Diego will not collapse if a single employer shuts its doors or one industry begins to lose relevance.

Within this market, you’ll find a lot of prospective residents who are in the military, work in the tourism industry, and are affiliated with universities and school systems. There’s a lot of business here because the city is so close to the border. So many industries are creating jobs and fueling economic growth. This leads to a surging and stable population.

As an investor, this increases your potential for success. Pay attention to who you’ll be renting to. With the military, you have a lot of people moving in that need rental properties. You also have a lot of retirees that will come in in the winter time when it’s cold in the North. These demographics have a huge impact on the pool of residents applying for your home, and you need to understand what they want in a property. This will help you attract and retain the best and most qualified residents.

Work with Professional San Diego Property Managers

Finally, you will increase your chances of succeeding in if you work with professional San Diego property managers. It makes a big difference to have professionals who understand the market and can align their services with your investment goals. Your property managers will have a huge impact on your success in the San Diego rental market.

If you’d like to talk further about investing in San Diego, we hope you’ll contact us at Mynd Property Management. We’d love to share our resources and expertise to ensure you have a successful investment experience.You can also visit our Facebook group of investors, which is called Master Mynd. It’s a real estate investors’ club, where you can exchange ideas with other owners. Check out our weekly podcast as well, called The Myndful Investor. We invite leaders in real estate and property management to talk about their success and, more importantly, their failures. There’s a lot to learn from this relatable content.

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