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3 Common Mistakes Property Managers Must Avoid

Dustin Edwards • Mar 07, 2024

Managing properties entails far more than simply collecting rent. A number of tasks and duties are required to ensure the satisfaction of your tenants. When a tenant feels like their needs are being met by their property manager, it increases the possibility of a lease renewal.


Today, we’re going to discuss three common mistakes property managers need to avoid to increase their bottom line.


Poor Communication

Communication is one of the most important aspects of having a good relationship with tenants. For tenants, it can be frustrating for their calls and emails to go unanswered for long periods. Suppose communication with a tenant is well established. In that case, you can learn about issues with your property, such as damaged electrical circuitry and leaky plumbing, which, if caught and fixed quickly, can save you thousands of dollars down the line. If property managers delay or ignore tenant communication attempts, it can greatly affect your bottom line. Not only can a tenant choose not to renew their lease, your property can end up with expensive repairs. 


Dealing with frequent vacancies can be incredibly stressful. Not only do you miss out on your tenant's monthly rent income, but you also need to invest money and time in preparing the rental, listing the rental, and screening another tenant.


Lack of Maintenance

Maintaining the property is rarely the tenant's job. Poor maintenance affects the tenants and will eventually come back to cost the owner. Once their lease agreement ends, tenants have no reason to stay in a rental run down out of negligence. Poor maintenance can also shorten the lifespan of the systems in the home. An extreme example is a leak in the plumbing. If the water were to make it into the walls, you risk damaging the framing, growing mold and mildew, and creating an environment that invites pests. What was a small leak will cost thousands, or the home can be considered uninhabitable until repaired.


It's best practice to have regular inspections of the property inside and out, although you’ll need to set up a date to access the inside of the tenant’s unit. Inspecting the landscaping, paint, and other amenities is important for the property's exterior. Even though curb appeal is typically only focused on when looking to find a tenant, the rental property needs to look its best year-round to maintain its value.


Being Unfamiliar with Local and State Laws

California's real estate laws vary depending on the county and city of your rental. The rules can change significantly depending on the location of your rental. Your property manager needs to be aware of the laws in the area they are managing. Many of the laws in California are in place to protect tenants over landlords, so it can be incredibly expensive if your property manager isn't familiar with these laws. This can greatly affect your bottom line in court fees, lawyers, and time.


For example, while you can state in your lease agreement that there will be regular rent increases, your property manager must know how much and how frequently they can increase and how many days notice is required before you raise the rent. 


Managing your rental property can feel daunting for first-time landlords. This can be different, though. If you need help managing your property or are having trouble understanding what other mistakes to avoid, we invite you to call us today at (562) 888-0247 or fill out our
Owner Application online.

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By Dustin Edwards 01 May, 2024
Everyone wants to feel safe in their homes. As an investment property owner, it's up to you to decide whether or not to include security measures in your property. Many of the costs associated with the security measures can be included in the rent, meaning not only can you keep your property safe, but you can earn more income in the long run. However, you would still want your tenants to have renters insurance to protect their assets. Today, we’ll discuss the top five security measures you can add to your property and why they're beneficial to you and your tenant. Security Cameras Cameras are probably one of the first security measures people think about when asked about security. Cameras provide more benefits than just surveillance. They provide an extra level of security for the safety of the tenants and their belongings. Additionally, security cameras can be useful when repairs are required. Cameras can aid in supervising repairs and maintenance to ensure you’re receiving the agreed-upon work. During vacancies when the property is empty, security cameras can help keep the property safe from potential intruders. Doorbell cameras are incredibly popular now. They provide the aforementioned safety of a camera that can be accessed remotely, as well as the ability to communicate with visitors. Although one must be careful never to say you're not home, just say you're unavailable to strangers. Security Lights Security lights with motion detectors are another effective tool when adding security measures to your property. These lights brightly if a potential intruder attempts to get near your home. They can provide enough illumination to see the intruder or, at the very least, scare them off. Nowadays, you can find a combination of security cameras and motion-activated security lights, such as the floodlight cam wired plus from Ring . Additionally, because these lights only turn on when motion is detected, they’re more cost-effective than traditional lights with a switch. Illuminate the Property Light generally deters intruders as it's more difficult to hide. Adding lighting to the landscaping can increase the security of the property while creating a relaxing atmosphere. Lights can also be used in other areas of the property to accent features such as trees, benches, or artwork. This can help your property stand out while giving your tenants an additional feeling of safety. Keyless Entry Keyless entry is seen as both a convenience feature and a security feature. They usually use an electronic passcode, biometric data, or grant access through a smartphone app. Physical keys can be lost, stolen, or duplicated. You reduce the risk of unauthorized entry by eliminating the need for a physical key to enter the property. Many keyless entry systems include several features, such as remote locking and monitoring. Although keyless entry is a great new technology for keeping your tenants and properties safe, they’re best used with other security systems. Security Company Nothing beats having an extra pair of eyes on your property for security. This is where security companies like ADT and SimpliSafe come in. While companies may deal with security in varying ways, they aim to protect your investment. While safety is the primary role of a security company, remember that many tenants may be willing to pay more for a premium amenity like a home security company. Keeping your property and tenants safe is incredibly important to the longevity of an investment property. If you’re looking to improve the security of your Long Beach rental property or need help managing your beach city rental property, we invite you to call us today at (562) 888-0247 or fill out our Owner Application online .
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