Frequently Asked Property Management Questions
What is the security deposit amount that we might expect from a renter in San Diego?
The security deposit is usually equal to one month’s rent. If you elect to allow pets we can ask for an additional pet deposit, unless the pet is a service animal.
Under what circumstances would the security deposit be ours to keep should the tenant damage something?
The deposit will be held in our property management trust account. Should there be damage to the property above “normal” wear and tear then we can use the deposit to pay for actual repairs made. The remainder after repairs will be credited to the tenant.
What is your screening process for a prospective Tenant?
We verify income, debts and assets. We verify employment and employment stability. We run credit checks and a criminal records search. If the prospective tenant is a local San Diego resident we set up an interview at our office. We also contact past landlords. These are some of the most common methods used, occasionally further assessment is required and performed by us.
I have heard that many San Diego management companies charge a percent of the rent as their management fee, then also charge fees for anything outside the scope of “normal” management. Do you do this and if so, what will my total cost for your property management services be?
We have heard this too. Many property management firms will quote you a percentage, then nickel and dime you with fees. We do not do this! Our property management fee is disclosed before you make any commitment to us. Our property management percentage is based on the type of property you would like us to manage and the type of services you need. Our fees range from 6% to 15% of the lease value. You do not pay us a dime outside the percentage agreed upon, regardless of the amount of work or difficulty with the property. We never charge set-up fees, marketing fees or travel fees.
Will tenants pay Utilities?
Usually tenants will pay most utilities but we can structure it any way you like. This will be a negotiating point with the tenant.
I live outside the state of California. I have heard that California has passed some new tax laws in regards to non-resident property owners who elect to rent out their home and have it managed by a San Diego property manager. Is this true? If so what do I have to do?
Yes, California has passed some new laws that you should defiantly be aware of. San Diego property managers are required to withhold a percentage of rents collected on your behalf and make quarterly tax payments on your behalf. The good news is that we are very knowledgeable of the new laws and will completely manage the process for you. There are many exemptions that you may qualify for and once you decide to have us manage your property, we will assess your situation and structure your accounting accordingly.
What happens if a tenant stops making their rent payments? Do you handle the eviction, if need be?
Our eviction rate is extremely low. We have many methods of removing a tenant prior to having to resort to eviction. In the unlikely event an eviction is required we will help you through the entire eviction process. This includes making court appearances on your behalf, if needed. We will refer you to an eviction attorney that will initiate and manage the eviction. There will be attorney’s fees in which you will have to pay directly to the attorney. Should a property go to eviction, we do not charge you anything additionally for cooperating with attorney requests or our time spent on the case. We also offer eviction protection, click here for more details.
How will I know that my property is being maintained by the tenant?
It all starts with making sure you have the best and most responsible tenant rent your home. As explained in Q3 above we go to great lengths to screen tenants. Above and beyond this we schedule routine walk throughs of the home during the tenants stay.
Do you require property owners to maintain insurance on the home?
You should always have a comprehensive insurance policy on your home. If you have a loan on your home this is already required by your lender. As is standard in the industry, we require you to obtain or maintain insurance on the property and to ad us as “additional insured” on the property. Adding us as additional insured will not cost you a higher insurance premium.
I have questions that you have not addressed here. How can I get those questions answered.
Feel free to call us anytime at (858) 367-0343 or email us at email@example.com. We have knowledgeable and friendly staff that will be happy to answer any property management related questions you may have.