All Forum Posts by: Marie R.

I like http://www.appfolio.com/

Very easy to use, you can list properties for rent directly, run financial statements, create maintenance work orders, screen tenants, perform property inspections etc. 

1) Thinking that everything that breaks or fails is caused by the tenant because when they "lived there for years, nothing ever broke down."

2) Not having enough money for major repairs like a new water heater, furnace or A/C unit.

3) Deferring maintenance. 

4) Waiting too long to begin an eviction- thinking the renter will pay last month's rent this next month because that's what the renter told them.

5) Understanding that there will be costs that they will have to incur- just like any other business. 

Thanks for your feedback, much appreciated! @Samuel Sedore

@Jeff Bridges Thank you! I will most definitely read those articles. I'm trying to figure out how to set myself apart from the competitors in my area so I was hoping to see if there's any insight from homeowners/investors as to what they look for when it comes to hiring a property manager... basically, what makes someone say I will go with this company vs that one. Thanks again 

This one happened a week ago.

Prospective Renter: "I'm very interested in your property and I would like to schedule a viewing right away. I'm standing outside the building, can you meet me now?"

Me- "Before we go ahead and schedule and appointment, how soon are you looking to move?"

Prospective Renter: "In August."

Me- "Unfortunately, that will not work. It's March right now and the unit is move-in ready. We can't hold it longer than two weeks. Please call back as it gets closer to your move-in day,  thank you and have a nice day." 

Prospective renter while at the property... "Yeah, so I love the place but it's above my budget. If the owner lowers the price by $300 then I'll take the unit, but I still need to give a 30 day notice. I know I said I was ready to move-in right away over the phone, which I am, but I still need to give my notice." 

Me: *Thinking to myself* Why the heck would you waste my time on a Saturday?! Arghh.

What are some of the things you look for when it comes to hiring a property manager to look after your property? Is it the management fees, experience, online reviews, or something else?

Interesting... I had some lady that wanted to rent a unit from a company I used to work for, but we turned her away because she had a felony for using pepper spray on some guy she claimed was trying to attack her. She claimed she had a bad lawyer that wasn't able to remove the conviction from her record and the court ruled that it wasn't self defense so now she has this felony on her record. 

I agree with @Russell Brazil "Things I will typically not overlook are violent crimes, domestic abuse situation, sex offenders, crimes involving fraud." However, mistakes do happen (hanging out with a wrong crowd) or wrongful convictions so if the applicant can prove that they are a righteous citizen now, then I would personally feel that it would be ok to rent to them if they have a track record of paying bills on time and good landlord references etc. 

Hi Jav,

It can get a bit tricky when you're trying to find out what the appropriate amount would be to charge for these damages that are obvious neglect on the renter's behalf. Sometimes, certain companies can buff and re-finish the floor which will look as good as new. Depending on the extent of the damage, if the flooring needs to be replaced then you would have to pro-rate the charges by using the following method:

Original price of the flooring + life expectancy of the floor.  Say the flooring cost $2,500 and it was installed a year before the tenant moved in. Let's say the tenant lived at the unit for a year.

Price of flooring $2,500

Expected life: 10 yrs

$2,500 divided by 10 yrs = $250 per year 

In this scenario, the flooring has 8 yrs of life left so you can charge the tenant $2,000 for the damage. Unfortunately, you can't charge the tenant the full amount because it wouldn't hold in a court. Keep in mind, whenever major improvements are done to a rental, it is wise to keep receipts just in case issues like these happen. If you don't have receipts, then I would suggest obtaining a bid on the flooring replacement and then pro-rating the cost of it by the number of yrs the tenant lived at the property. That way it would be the most "fair" to both parties and the renter won't feel like they are getting ripped off by having them pay in full for new flooring when the flooring wasn't new to begin with. 

For the other items, you can definitely charge them in full for the missing doors, and the holes in the wall just remember to include receipts of the charges for damages when you send the itemized security deposit statement back to the renter. Good luck and hope this helps :) 

From my experience, the top items a renter is looking for in California are the following:

1) In Unit Washer/Dryer & A/C

2) Dishwasher

3) Fenced yard

4) Plenty of storage closets

5) Easy access to freeways

6) Pet friendly

7) Close to amenities 

As long as they meet the income requirements, credit and background checks and have favorable landlord verifications then I would rent to them. Legally, one cannot discriminate against someone just because they are young, old, have kids etc. From my experience, there is no such thing as a perfect tenant. I've had to evict a business professional making over 140k a year that had a credit score of 780+ and had great landlord references.