Contacting Property Manager...
3664 Fourth Avenue
San Diego, CA 92103
Types of Properties We Manage:
- Single Home/condo (up to $300K)
- Single Home/condo ($300 to $500K)
- Single Home/condo ($500K to $1M)
- Multi-Family (2-4 units)
- Multi-Family (5 -19 units)
These are the Policies and Procedures of our company that protect your property investment and provides you with the highest-quality professional services.
Mortgage & Insurance Payments
If you wish, we will make the mortgage payments (as well as homeowner association payments and other relevant property service payments) for you. Simply supply us with the necessary mortgage payment cards or coupons provided by your mortgage company or homeowners association. Payments can be deducted from your account balance automatically on a monthly basis. We will make the payments for insurance submitted to us, however, it is solely up to the homeowner to choose the type of insurance coverage they desire for their property. If your property has a large, consistently negative cash-flow each month, arrangements are needed to keep an additional minimum balance amount in the account.
Every transaction affecting your account balance is recorded and explained in detail. Our computerized accounting system enables you to see exactly what has transpired with your property on a monthly basis. Copies of all work orders and receipts are kept on file throughout the year. We can also provide you with copies of paid receipts or invoices with your monthly statement (nominal copying fee applies). In addition to the monthly statements we also provide a complete account summary at the end of the year. This shows you each accounting transaction posted on your property during the year such as total rent received, total mortgage payments made, total maintenance expenses, etc. These statements are specially designed to simplify the year-end tax preparation job for you or your accountant.
Our monthly management fee is payable when the rent payment is received. We do not have a monthly minimum fee. It is automatically deducted from your account at the time the rent payment is posted. However, since one of our jobs is to keep your property occupied we will not deduct the monthly management fee if your property is vacant.
We want good tenants just as much as you do! We pride ourselves in the quality of tenants we are able to attract. Our extensive tenant screening and credit investigations help ensure this. Vacancies are expensive for both of us. We make every effort to keep our vacancies to a minimum. Our aggressive marketing techniques allow your property to be presented to the largest possible market in the shortest possible time.
Applicants are required to complete a rental application and to provide credit information and references. Our standard qualification guidelines require applicants to pass a credit report. Evictions, open bankruptcy, history of slow pay, history of non paid charge off accounts are generally automatic grounds for rejecting an application. We also verify past rental history and require a verified, combined gross income of three times the rental amount per month to qualify.
Once a tenant's application has been approved, appointments are made to approve the actual lease agreement. We review the lease thoroughly with the tenant. This gives us a chance to answer any questions and to carefully explain the tenants responsibilities as well as our company's policies and procedures. This attention to the tenant's needs greatly reduces misunderstandings and eliminates many potential problems.
We undertake a move-in inspection with the new tenant prior to them taking possession of the property. We use this walk through to emphasize what we expect from the tenants. We find this helps develop a good working relationship with the new tenant and gives us one more opportunity to encourage our tenants to take pride in their home. Once again, we want good tenants just as much as you do!
For additional protection, appropriate security deposits are always collected upon completion of a rental application from a prospective tenant. Amount of deposits are based on the monthly rental rate and the credit worthiness of the tenant. Applicants with pets may be required to pay an additional pet deposit if a pet is approved for the property. All deposits are maintained in a trust checking account as required by state Real Estate regulations until they are either refunded to the tenant upon the successful move out inspection or are forfeited to cover damages caused by lease violations.
Our main job is to protect your investment property. We do this in two different ways. First we make frequent drive-by inspection tours of your property. In addition, we make regular preventive maintenance inspections of the interior of the property. It is stated in the tenants lease agreement that we have the right to make routine announced inspections. Tenants are always notified in writing of pending property inspections. Inspections are conducted with the tenant present if possible. We look for discrepancies between their move-in inspection and the current condition of the property. At the same time we also check for preventive maintenance items. After we conduct a routine inspection tenants who are not maintaining the property properly are notified, and then we follow up with a second inspection ten (10) days after the tenant has received the failure report. If the tenant has not shown good faith by providing proper maintenance or making requested repairs we will begin proceedings to correct the problem at the tenant's expense.
Repairs and Maintenance Services
Timely and competent maintenance is the key to protecting your investment. Our goal is to provide you with this important service at a reasonable price using only qualified professionals. All repair and maintenance services are preformed by independent, outside vendors and contractors, not by company employees. Each has been selected because of their proven ability to provide the best possible service at the best price. You reserve the right to schedule and control any or all repair and maintenance responsibilities if you desire. However, repairs must be completed in a timely manner. Routine repair and maintenance will be preformed as needed and will be based on urgency and importance. For any major job, we usually obtain written estimates from three different companies, notify you, and obtain your approval before we proceed. We ensure the quality of the work preformed by making spot checks and follow up inspections. You are further protected because each job is fully documented in writing and supported with receipts.
One of the concerns that most owners have is the protection of their home. It is imperative that we not only put in a very qualified tenant we must place one that will take care of the property as well. Our policy is to only take properties that are in good to excellent condition. We do this for several reasons. We have found you can not put good tenants in bad properties. Anyone willing to rent a distressed property is an indication that they are going to make it more distressed.
Prior to a new tenant moving in we take photographs of the property. This provides a visual record of the condition of the property when they took possession. When they move, we can review the pictures and move in inspection check list (which they signed) to compare the condition the property was in then and now. If we do need to charge them for anything we have the pictures to substantiate any claims we may have. This also serves to put the tenant on notice that we are very serious as to the upkeep of the property.
When we photograph the property we are literally making a visual inventory of that property. The pictures will show the blinds, drapes, condition of the carpet, condition of the paint, the appliances, whether the sinks have any cracks or nicks, etc.. This is most beneficial when we do the final walk through with the tenant two or three years later. It is almost impossible to remember all the things that are in the home a couple of years later, but with the pictures we can review it in five to ten minutes. We can immediately evaluate normal wear and tear versus actual property damage.
Most of our owners live far away from the San Diego area. There are times we want to let them know about a condition that may need attention. We have the ability to e-mail pictures of the problem over the internet. So even if you are in Japan, Europe, New York or San Diego you will only be a few clicks away from your property.
Tenant screening is the cornerstone of our success. There are many areas that must be checked and verified to ensure that you get the best tenants possible for your property.
We must verify that they are in fact who they say they are. This is accomplished through proof of identity by a photo drivers license or military ID. It is not that unusual for a bad tenant to assume the identity of someone they know or a total stranger. Once we have established that they are the correct individuals as indicated by the identification, we proceed with an extensive credit check. We are online or have access to all the major credit bureaus which include C.B.I. Equifax, Trans Union, and Experian. If any one of the bureaus are down we can go to the next one. We are looking for tenants with a very good credit history.
Once we are satisfied with the credit worthiness of the applicant we proceed to check their financial stability. It is very important to have a rock solid work history with some longevity to ensure that the prospective tenant will remain in the employment of that company. If a person is self-employed we will require copies of tax returns or other legitimate proof of income. We will not take their figures at face value without substantiation.
Once we have established that the tenants are credit worthy and have adequate income to rent the property, we then verify their past rental history with their previous landlords. We go beyond just checking the addresses they listed on their application. We check the references that they have given us. Once we have verified all the items on the application and feel confident that we have good potential tenants, we notify them that they have found their new home.