Blog Post

3 Property Management Tasks to be Prepared for When Managing Your Own Property

Dustin Edwards • Feb 26, 2021

Be Prepared to Handle these Tasks and More

Tasks
Starting the journey of owning and managing rental properties can be both exciting and nerve racking.  

We do property management in Long Beach on a daily basis and we get asked questions regularly from owners who want to manage their own properties. They want to try being a landlord first before engaging a property management company.  

Many of the calls we receive from these new landlords have similar questions. We wanted to share three key aspects that we mention on nearly any call when someone asks us “so what should I be prepared to do if I want to manage my own property in Long Beach?”.

Interviewing Tenants
After you have screened the candidates (i.e. evaluated the same metrics for each possible tenant) then you have the task of interviewing tenants. 

Interviewing tenants, much like interviewing candidates for a job, takes patience and skill. Be careful to avoid asking questions that could lead to a discriminatory complaint. 

Ask each prospective tenant the same questions to help you make the best possible decision.  

The interview should give you additional information above and beyond the screening process. It should help you develop a well-rounded view of your next tenant.

As a property management company we can perform 100’s of interviews for prospective tenants in any given year and we are the first ones to say it takes practice. When you are managing your own property be patient with yourself and take the time to interview tenants with a goal of finding the best fit for the tenant and property.

Collecting Rent
Gone are the days where you visit a tenant at your property to collect rent. Today, for property management companies, there are numerous solutions that allow us to efficiently collect payment from tenants and some of these solutions are also available when you want to manage your own property.

A key method to collecting rent on time is to make it easy for your tenants. While the professional property management solutions can be expensive there are low cost and even free solutions when you are managing your own property. Take into consideration the following options:
  • https://cozy.co/ - This free property management solution gives you the ability to easily collect rents online. There is a delay in receiving your payments but if you want your payment faster you can pay for that as an upgrade.
  • https://www.zillow.com/z/rental-manager/collect-rent-online/ - The property listing behemoth provides a rental manager for landlords. Their objective is to get you to list your rentals there to attract tenants where there can be costs. It is a powerful tool and like Cozy.co there is a delay in receiving payments but it does make it easy on your tenants.

When deciding on how to collect rent we would encourage you to leverage technology as this is what will help you and your tenants the most to have a long lasting relationship.

Property Repairs
Property repairs can occur while a tenant is occupying your property or when you are preparing your property for rent.  

Generally speaking the repairs when a property is vacant are much easier as you don’t have to coordinate around a tenants occupancy, nor do you have to worry if the repair is something major (i.e. a mainline, water leak, heater, etc.).  

If you choose to manage your own property the key part is preparedness. Long before you ever need a repair on your property identify 1-2 trade professionals for each item that is associated with your property.  

It is also a good idea to have a handyman ready as well for smaller items that a tenant could call about. Repairs are inevitably going to be needed and in order to reduce your stress and the tenants stress being prepared ahead of time will help you the most.

If you’d like to find out more about the variety of tasks we can handle on your behalf when we manage your Long Beach rental property we invite you to call us today at (562) 888-0247 as we’d be happy to help. When you want a quick check to see how much your property could fetch in rent we invite you to fill out our Free Rental Analysis where we perform a comprehensive comparison to share your rental stacks up to the competition.

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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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