Skip to content Sitemap

Blog

Renting a Home That Needs Work is Not a Smart Thing To Do…1

Even If  You Lowered the Rent, The Tenants will “nit-pick” and never be satisfied.

 

Not only will they nit pick your place, they will not improve it for you and will most likely make it even worse and cost you more in the long run.

When you are an investor, you have to set aside enough reserves to be able to do what we call a “turn over” after the old tenant moves out.

If you’ve had a long term tenant that’s been there for several years, your place is going to need new paint, probably some new carpet/flooring and other minor repairs such as new window coverings that you can not charge the old tenant because it’s “normal wear and tear”.

Yes it’s going to cost you some $$ to fix it up. However, in today’s Sacramento/Folsom rental market area, you’ll get a lot more in Rent if you do.

If you don’t fix it…?    You’ll get disgruntled tenants that decided to take it as is because you didn’t charge the market rent you could have and even though they get the place at a lower rental rate, they will decide they are not getting a good deal.

Why…?

Because the place needs work and they really expect a Landlord to do it all.   We’re experiencing this now in a property we recently leased up.   The owner claimed they didn’t have the funds to fix it and we had a tenant willing to take it “as is”.

It didn’t take long for the tenant to start complaining.

Bottom line is fix your place up to a Move In Rent Ready condition and make sure all the appliances work.  You’ll have a much better relationship with the tenant and you’ll be able to get top dollar for your rental.

 

Regular Landscape Maintenance of Your Rental Investment…?

Landscape Maintenance – The Most Overlooked & Undervalued Service – It Should Not Be.

 

An Investor in Residential Real Estate should know ongoing and regular landscape maintenance is important.

I know on my Real Estate Sales site  I’ve written articles about landscape maintenance.  It’s important to maintain the curb appeal throughout your ownership.Landscape Maintrenance

A big reason we want regular scheduled landscape maintenance,  aside from curb appeal,  is our landscape vendors know if they see something out of the ordinary to call us.

It was just yesterday one of our landscape companies contacted our property manager to report he was unable to service the back yard.   There were two “pit bulls” roaming the yard we did not know about.

This fact was told to the vendor by a man supposedly living there.   A question is raised in our minds because the lady and her kids that just moved in had no man on the lease agreement.

We’ll give the tenant a day or two to make an explanation.   However we are on notice that someone is  potentially living there, not on the lease,  with dogs and without our permission.

A property manager can not go by your property every week.  I wonder how long it would have taken us to find out if we didn’t have the regular landscape service.   While we do inspect once a year at least,  if you were the investor, wouldn’t you like to know someone might be breaking the terms of the lease long before the expiration of their lease…?

I know I would.

If you are looking for a Property Management Company to help you maintain your property call me at anytime.

 

In the mean time…?

Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE

916-203-1260     favinger@rwnetwork.com

SEE WHAT OTHERS SAY ABOUT US

Looking for a Nice Affordable Place to Live

Check out 4703 Greenholme, Sacramento, Ca

 

The owner has recently update/upgraded this Duplex apartment that has all the features of a single family home.

  • New Kitchen
  • New Bathroom
  • Mirrored Doors in the Master Bedroom
  • 2 car garage with opener
  • Renting at $1,200 per month – Owner takes care of landscaping

Updated 3 bedroom Rancho Cordova Duplex for Rent

This 3 bedroom will be ready to occupy on April 7th.

 

You’d better hurry up and come get this one.    We’ve updated and upgraded this 3 bedroom Duplex unit.

The Elementary School is within a short walk.   Several Shopping centers within a mile or two… and don’t forget if you commute to downtown Sac., we’re close to freeway on ramps and the light rail station.

Go to our viewing dates page to see when we’ve scheduled showings.

In the mean time…?

Make it a Great Day..

Ed Favinger, Broker CRS, GRI,  SFR, CDPE   916.203.1260

 

 

 

Nice Home For Rent In Folsom’s Empire Ranch

Folsom Homes Rent Quick – Better Hury up

 

Hey there… we’ve just listed this Empire Ranch Home.   It comes with 3 bedrooms 2 baths and a Den.   It’s also one of the nicer single story homes for rent in Empire Ranch.   It’s on a corner so you only have neighbors on 1 side.

We’ll throw in the hillsides views and nearby access to the trails for free along with the 3 car garage.

Call the office at 916-990-0770 x11 to set up an appointment or go to our “viewing dates” to see what days we’ll open it up.

FYI – Tenant pays the the W.S.&G but we’ll take care of the landscaping.   We’ve got a work order now to have our landscape people get out there and re-seed the front yard now that the drought is over.

In the Mean Time…?

Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE

Don’t Make Your Landlord Mad… Follow the Rules

Paying the rent is not the only thing required of a Tenant.

 

Many Property Managers and Landlords will have other terms and conditions besides the payment of rent in their lease/rental agreements.

On the one hand while a Landlord has to provide a “habitable” unit and must maintain things like a water tight roof, adequate plumbing and free of vermin, on the other the Tenant has obligations as well.

The Tenant is to maintain their unit in a clean and sanitary way and in some cases even maintain the front and back yard landscape maintenance.

We also have rules such you can’t do major auto repairs on the property and any vehicle must have current tags, Insurance and be “operable”.  You’re not allowed to store a non  operable vehicle on one of our properties.

I drove by yesterday in the usual course of business and found a big time violation that is one of the big “no-no’s” for this company.

You are never allowed to park a car/truck on the front yard grass… ever. 

Would you want to have these people living in one of your units or if you were a neighbor want to see this…?  I don’t think most people would.

If you’re a landlord, don’t put up with bad tenants.  If you need help, then call us and we’ll help you maintain your property in top condition.     The tenants have to know that their obligations to you the landlord not only include paying the rent on time, they also include following the rules and to maintain the property in a clean and sanitary condition.

If you need a property manager that cares about your rental property then call us at 916-203-1260 or email me at favinger@rwnetwork.com

In the mean time…?

Make it a Great Day..!

 

 

What If “Highest and Best” Offer Was Applied to Rentals as in Real Estate Sales…?

It’s a Sellers’ Market in Home Sales and a Landlords’ Market for Rentals.

 

I’ve been in the Residential Property Management business for almost 26 years and Real Estate Sales since 1981.   In all my years of doing business here and in the Bay Area, I’ve never seen a rental market quite like this one.

If you’re a renter looking to move start earlier than you think.   If you find a place you like be prepared to take  it immediately even if you haven’t given a 30 day notice to your current landlord.

Yes.. you might have to pay an overlapping rent on two places, but that’s the current market.

Is the Phrase “Highest and Best” coming to the Rental Market..?

If you have read the paper or watched  local news or Social Media, you’ve seen reports from time to time regarding Sacramento and Folsom Home Sales with multiple purchase offers with some of them over list price.

Well, I’ve been thinking what if Landlords and Property Managers treated multiple rental applications the way some Real Estate Brokers/Agents treat multiple purchase offers?

Often times in that situation, rather than write a counter offer to each buyer,  the Listing Broker/Agent would advise all the various Buyers’ agents to re-write their Buyers’ offers to a price higher than list price in order to get the “highest and best” offer for the Seller.    They call it “making your highest and best offer”.

The Seller and Seller’s Broker/Agent would then pick the strongest offer based upon price/cash/financing and then the lucky Buyer(s) gets the deal in escrow and would commence their “due diligence”.

All the other offers would be rejected or told they could be in a “back up” position.

For us, our most recent rentals in various areas have experienced “high traffic” and “multiple applications”.  The result is some ordinarily qualified people are left out for someone “more qualified”.

Haven Properties has not suggested a “highest and best offer” scenario to “approved” multiple tenant applications over the posted rental rate in order to see what the market would bare.   However, isn’t that an interesting “ponderable”….?

If you’re looking to hire a Property Management Company, then give us a call at 916-203-1260 or drop an email to me at favinger@rwnetwork.com

 

In  the Mean Time…?

Make it a Great Day…!

Contact Us

  • This field is for validation purposes and should be left unchanged.

Want To View One Of Our Rentals…?

Check the Viewing Dates on our Site for more information

If you’re are house hunting for a rental go to our viewing page for the most current dates and times we have scheduled for showings.

Many of these properties will have a video that you can access to see what the interiors look like and if you can not make it to one of the showing times, you can do a drive by and check out the neighborhood.

When we set up a showing we’re pretty much on time, but if we’re not there at the exact time, give us a few minutes and we’ll be there.    We generally will stay on site for about 15 minutes and then depart.

If you have any questions, please call us at 916-990-0770 x 10 and if we’re not there, please leave a voice mail message.

In the Mean Time…?

Make it a Great Day…!

 

Next Page »