On this Santa Clarita property management blog, we are talking to Ken Harris, who is a commercial sales representative from First American Exchange Company. We’re discussing an interesting tax and investment tool, and asking him – what is a 1031 exchange? (more…)
Maintenance nightmares are things every property owner and landlord wants to avoid. Today, we are talking to Craig, our maintenance director, about the subject of maintenance nightmares. This can be one of the biggest things that impedes your return on investment. We have a story and some tips to help you with rental maintenance. (more…)
The best way to avoid costly repairs is through routine rental inspections. You need to stay on top of the attention and the repairs that your property needs. Today, we are talking to Craig, our maintenance director, about how to reduce rental costs through regular inspections. This is a hot topic when you’re renting a property and you have tenants in place. It can be costly if you don’t handle your maintenance issues effectively, efficiently, and affordably. (more…)
Larry the Landlord decided to rent out his own property instead of using RPM Executives
Because Larry decided to rent out his own property, his advertising ad was hijacked by a Nigerian hacker. Because his advertising ad was hijacked by a Nigerian hacker, his home got rented to an unemployed coal miner from West Virginia. (more…)
Once you have successfully marketed and advertised your property and you have people interested in renting it, you need to know how to screen a tenant. The process of tenant screening needs to be detailed and consistent. Fair housing laws require you to treat every applicant the same. Put a process in writing, as well as a set of criteria that you’ll use to evaluate the applications. When you provide your requirements to potential tenants, they can decide whether they have a chance of getting approved before they fill out the application.
Use a Detailed Application
Your application should collect all of the pertinent information, including contact information, date of birth, social security number, employment information, and a list of current and former landlords. You’ll want the application to grant you permission to conduct a credit and background check. Make sure every adult who is 18 or older fills out an application, and ask that all residents be listed on the application, even if they are children.
Check Financial Records
You’ll want to check the applicant’s credit report for debts, judgments, and unpaid bills. It’s also important to make sure they have not been evicted previously. Finally, measure the income level against the amount of rent. It’s a good idea to require that a tenant earn three times the amount of the monthly rent. So, if you charge $2,000 a month for your house, make sure the tenants earn at least $6,000 per month. Ask for income documentation, such as pay stubs, bank records showing direct deposits, or tax records.
Criminal and Background Checks
You should do a nationwide criminal check to make sure your prospective tenants do not have a history of violent crimes, sexual offenses, or any pattern of behavior that will put your property or the community at risk. Many property managers will go further than a criminal background and check things like the sexual offender database and the terrorism watch list.
The best way to predict a tenant’s future behavior is by assessing his or her past behavior as a renter. Get contact information for the prospective tenant’s previous landlords. Ask about whether rent was paid on time, if there was considerable damage left behind at the property, whether the tenant had pets, and if that landlord would rent to this person again.
Tenant screening is a critical step in renting out your property, and you cannot ignore it. Placing a bad tenant in your home can cost you money and put your property at risk for damage and neglect. If the process of screening seems too overwhelming, get help from a Santa Clarita property management company. Please contact us at RPM Executives, and we’ll tell you more about our screening process.
When you have a tenant not paying rent, it’s important to act quickly in order to minimize the amount of time and money you lose on that resident. Learning how to properly evict a tenant can be difficult because the laws are specific, and even one mistake will set you back in the process and result in additional problems for you. We strongly encourage you to get help from an experienced eviction attorney or a company doing professional property management in Santa Clarita. (more…)
Smart investors know that working with a professional Santa Clarita property management company can increase the return you earn on your investment and drive down the expenses associated with your rental property and the potential for mistakes. However, many new landlords want to know: what does (more…)
There are some excellent reasons to rent out your home. If you’ve had it on the sales market, but you can’t seem to sell it, or you’re relocating for work and you’re not sure when or if you’ll be back to the area, renting out your property can be a great way to (more…)
The tenant move-out inspection is an important part of maintaining your investment property and deciding whether or not the full security deposit will be returned to the tenant. Today, we’re talking to RPM’s maintenance director, and we’re asking a few questions about these inspections. (more…)
Newhall, CA – March 1, 2016 – Those who own rental property in California need robust and reliable ways to maximize their value, and that’s exactly what RPM Executives Property Management in Santa Clarita provides. RPM Executives Property Management cutting-edge suite of software-based solutions allows for a radical redefinition of what “property management” can mean.