As we near October and Fall weather, here are a couple of tips that I have learned over my 21 years as an owner, manager and broker:
The most important task (as I have learned the hard way!) is to have your roof cleaned, cleared of debris and rain gutters checked. The last thing we want is that dreaded call over the Holidays, about a ceiling leaking water. Not only is this a very inconvenient time for both us and the tenant, but most roofers will be so backlogged that it might take a week to 10 days to get someone over to your property!
And the second suggestion is to have the filters in the furnaces replaced. Although for most of us, the tenants pay the PG&E bill, if your tenants has pets or is not great about cleaning, this will put extra stress on the furnace.
If you have an upcoming vacancy, it is still important to check websites, such as Craigslist, to determine your current market rent. If you have a low level of interest and /or low turnout at an open house, but one party wants to take it, it’s worth it if they ask for 2 weeks or a month of free rent.
Here is the new notice with rules for renters during Covid 19 (through January 2021): CA State Rules for Property Owners during Covid
I did a presentation on increasing your rental revenue at the East Bay Rental Housing Association recently (Pre-Covid). Click Here: Maximizing the Return on your Investment for the highlights.
Interested in getting a valuation of your buildings?
Contact me and we can do an estimate with a quick drive by. Getting your current rents/number of units will allow us to get a estimate of value. Again, if you have any questions about rents for an upcoming vacancy, questions about tenant’s issues, or need advice on a repair person, please do not hesitate to call or email.
Why you’ll benefit from working with me
In addition to managing our properties for the past 21 years, I have worked on 60+ multi-units transactions in the past 10 years, as a real estate agent specializing in multi-unit properties. I have learned so much from both perspectives. Most importantly, this is a complicated process much different from working with single-family home buyers and sellers.
The goal of this newsletter is get feedback and share with this community our successes and challenges to make all of more successful and increase our cash flow! Questions about market rents for your units, tenant issues, or need specific repair people? I can help. Please give me a call or an email.
Looking forward to a wonderful Fall weather!