Q: How long has your company been in business?
A: We incorporated (California “S” Corp.) in 2012 but have been in business since 1997.
Q: How many rental units do you manage?
A: We currently manage approximately 150 properties. Our portfolio is a combination of single-family homes, condos and townhomes throughout the greater San Diego county area.
Q: How many staff members do you have and what are their job functions?
A: Including myself, 5 full-time and one part-time. We divide up between sales/marketing functions (2 people) and operations (3.5 people)
Q: Do your employees have specialized roles or do some of them fill multiple roles?
A: There is a lot of “cross-training” that has taken place, but when it comes to the function of “property management”, those of us that are licensed (4 of us), we conduct the actual function of sales, marketing and property management. The other employees provide primarily support and administrative and operational functions.
Q: What qualifications do your staff members have?
A: All of us come from the real estate sales, residential or commercial property management area with over 100 years of combined experience, with the exception of our part-time person who is a recent college grad.
Q: Where are most of your properties located?
Throughout the great San Diego county area, with most of our properties up and down the I-15 corridor. We currently manage properties in Oceanside to Fallbrook, throughout Vista, San Marcos, Escondido, Rancho Bernardo, Carmel Mountain, La Mesa, Chula Vista, Downtown San Diego, La Jolla, Del Mar, Carmel Valley and other communities.
Q: How wide of a geographic area does your company cover?
A: Most of the county of San Diego
Q: What professional organizations do you belong to or participate in?
A:Bob Davie is very active in the industries largest trade association – the National Association of Residential Property Management (NARPM) and am past president of the local San Diego chapter and current state treasurer; As a broker, bob is also a member of the National Association of Real Estate (NAR), California Association of Real Estate (CAR) and the Greater San Diego Association of Real Estate (SDAR), and currently serves on the SDAR Grievance Committee as a board member. In addition, he is active and serves on the board of the local Rotary Club as well as on the board of the Rancho Bernardo Business Association.
Q: How do you determine rent amount?
A: We conduct comprehensive rental comparisons for each of our properties using a sophisticated software program that takes into consideration more than 400 data points of information. This assists us in determining the optimal rental amount. Rental comparisons are completed when we take on a new property as well as each time the lease is coming up for renewal.
Q: What steps have you taken to cut costs so that you can pass savings on to your owners/clients?
A: We have negotiated “deep discounts” with many of our vendors (Handymen, Electricians, Plumbers, etc.) that we pass on to our valued clients. We also do “trouble-shooting” of issues prior to sending a vendor to a property to reduce the number of vendor visits and overall costs.
Q: What types of properties do you manage?
A: Single family homes, condos and townhomes.
Q: Do I have to sell my property with you if I want to list it?
A: No, if you have a prior relationship with a particular agent, we honor that alliance.
Q: Could you provide a few references to me?
A: Yes, upon request. We can provide both property owner and current tenant references.
Q: Do you work with out-of-state owners?
A:Yes. About 25% of our clients live outside of the state and about 25% live outside of the country.
Q: Is the company privately owned or is it part of a franchise?
A: Private ownership
Q: Can I cancel my contract without a fee if I am unhappy?
A: Yes. However, it would need to be for “cause”.
Q: What type of insurance do you carry?
A: Errors and Omissions Insurance, Corporate liability insurance, Workers Comp insurance, Business (Commercial) insurance, etc.
Property Management Fees
Q: What are your leasing fees for new leases, renewals and do they include any marketing costs?
A: We offer three options of pricing that an owner/client can choose from. The most popular is the “bronze” package which is a 30% leasing fee and 8.5% per month in ongoing management fees. The “silver” package is a 20% leasing fee and 9.25% per month in ongoing management fees. Finally, the “gold” package is a 10% leasing fee and 10% per month in ongoing management fee.
Q: Are there any additional fees such as lease renewal fees, marketing fee, admin fees, etc.?
A: Unlike many management companies, we do not charge a lease renewal fee. Most of our marketing is included in the leasing fee, but there could be additional fees if the property owner desires professional photos or a “For Rent” sign or print advertising. There is typically no additional “admin” fee unless the property owner requires it.
Q: Are there fees when the property has no tenants?
A: Typically, there are no fees when the management company is not collecting rents.
Property Management Services
Q: Do you offer direct deposit for your owners?
Q: How do you collect rent from tenants?
A: 97% of all our tenants pay their rent through our convenient online portal that is provided to them. The other 3% will typically mail us hard copy checks or drop them by our office.
Q: Do you conduct property inspections and, if you do, what charge is associated with them? Are they done with the landlord present?
A: We provide 2 periodic walk-throughs per year which is included in our management fee. If you desire more frequency, then there would likely be an additional fee. No, we do NOT recommend that the property owner be present.
Q: Do you offer eviction warranty?
A: No. This is because our eviction ratio is less than 1/10th of 1%. However, when an eviction is necessary, we work together as a team (the property owner, SDRPM and the selected attorney) to move the case forward as quickly as possible and come to a speedy and satisfactory resolution.
Q: Do you guarantee tenants for any amount of time?
Q: When do you begin paying your owners following rent collection?
A: Rent is due each month on the first of the month and is considered late if not received by 5:00 pm on the 4th day of the month. We do the monthly owner distributions between the 12th and 15th of each month. Your portion of the monthly owner distribution is electronically transferred to the account you have instructed for us to make the monthly deposit.
Q: What steps do you take to market properties?
A: We use a “syndication” software that places each of our available properties on numerous high-traffic sites, such as Zillow, craigslist, rentals.com and the MLS, as well as many other sought-after sites. In addition, we use a “state-of-the-art” scheduling software to schedule and maintain all of our inbound inquiries and scheduling of appointments.
Q: Do you provide payment statements, and if so, how often?
A: Yes, you receive a monthly “owners’ statement” between the 12th and 15th of each month and you have access to these statements 24/7/365 through an owners portal that we provide you access to.
Key Success Statistics
Q: What percentage of your rentals is usually vacant?
A: Varies based upon the time of year, but averages at approx. 4% annually.
Q: What percentage of tenants renews their leases?
Q: What percentage of rents do you collect per month?
Q: What percentage of owners do you retain as clients?
A: Our average client has been with us 8-10 years. I have NEVER been terminated by a client so when we lose a client, it is usually as a result of them selling their property (many times we are the sales agent), move back into the property or they have occasionally passed away and their estate chooses to sell or occupy.
Q: How long are your properties typically vacant?
A: Again, it varies based upon the time of the year. During the summer months a matter of a few weeks and somewhat longer in the winter time.
Q: What is your average occupancy length for tenants?
A: 2-3 years
Q: What percentage of the security deposit is usually refunded to tenants?
A: Varies based upon circumstances, but likely about 50%
Q: How many property managers will I interact with (or, will I have an assigned property manager?
A: You will have 1 primary point person.
Q: How often will I get updates on my portfolio?
A: Once per month via your owner’s portal and on an “as-needed” basis.
Q: How do your tenants and property owners contact you?
A: Usually via email but many prefer to call. One of our primary goals is to be as accessible as possible. Our office is staffed during normal business hours and we maintain an “emergency” line that can be used in the case of a property related emergency, such as a water line breakage or non-SDG&E electrical issue. The most common type of communication is email, but we can be reached by phone, text, or fax as well.
Q: How quick is your average response time to owners and tenants?
A: Usually same day or next business day, unless it is an emergency, then it would typically be within 20 minutes. We offer a “response time guarantee” that we will respond within 24 business hours without fail.
Q: What steps do you take to ensure that I am getting quality tenants?
A: Our vetting and screening processes are quite elaborate and extensive, which is why we have such a low eviction ratio. They are somewhat proprietary steps, and we are happy to go over the details with you either in person or over the phone
Q: What are your income requirements for tenants?
A: 3.5 times the monthly rent
Q: Can prospective tenants conduct self-guided tours of the property?
A: No. We have been offered these types of options from various providers but have avoided it due to the high level of liability that is inherent in this type of process.
Q: Is there a grace period for tenants to pay their rent?
A: Yes – 3 days
Q: What control do I have over the tenant lease agreement?
A: None. Our proprietary lease agreement is quite extensive and covers all known issues, causes, and remedies. It is updated as legislative actions change and is therefore always current.
Q: Do you require tenants to have renter’s insurance?
A: Yes, at the expense of the tenant. Also, they are required to name SDRPM as “additional interest” so that in the event the policy lapses (for any reason), SDRPM is notified.
Q: Do you select my tenant, or do I get to approve them?
A: The property owner is involved in the selection and approval process.
Q: Is there a maintenance reserve requirement and how much per unit?
A: $500 per property. In the event the property is a duplex or triplex, the amount is $500 per front door.
Q: What is your relationship with your maintenance vendors?
A: Excellent. Some of our vendors have been on our “preferred vendor” list for more than a decade! They are also fully vetted, are licensed, insured and many times provide us with “deep discounts” that we then pass on to our owners/clients.
Q: How do you go about notifying me if there is a cost for maintenance?
A: Your management agreement allows us to make a maintenance decision up to a max of $300 without your involvement. If it is projected to be more than the $300 threshold, we contact you prior to doing anything and seek to receive your approval to proceed.
Q: How do you handle maintenance requests?
A: Electronically sent to our office and our aim is to respond to that request with 24 hours or the next business day unless it is an emergency.
Q: Do you mark-up maintenance and repairs?
A: No, and this is a big deal! Many management companies use regular maintenance as an additional “profit center” for their company. We do not – if the invoice amount from the vendor is $100… you pay $100!
Q: What discounts can I receive on maintenance, etc. if I have you as my property manager?
A: As stated above, we pass along to you the pre-negotiated discounts that we have worked out with our vendors.
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About Our Exceptional Service
16516 Bernardo Center Drive, Suite 330
San Diego, CA 92128
Located in the Clock Tower Office Plaza in Rancho Bernardo
858-229-5890Monday through Friday 9am-5pm
Saturday by Appointment
Sunday & Major Holidays-Closed
DRE Lic. #01945869