Frequently Asked Questions from Property Owners

Investing in residential rental property is often a major source of primary or secondary income for landlords. Owning rental property has many benefits, but like many investments, it also requires rental property owners to put their money at some degree of risk. Also, the job of performing management tasks by self-managing is not right for every rental property owner. Professional residential property management companies provide a very high level of expertise in a real estate environment that can be, at times, quite tenant friendly, litigious and thus, challenging. Noted below are some common questions about property management, as well as some specific questions about San Diego Residential Property Management:

Q: Where should I buy?
Q: How does a rental property make money?
Q: Are there any tax issues when owning a rental property?
Q: What can I deduct?
Q: Is renting my personal home right for me?
Q: I don’t want to have all of the responsibilities that come with being a landlord, but I want all of the privileges and potential income that come with owning a rental property. Who will take care of all of the ongoing management issues?
Q: What are your fees?
Q: Are there any fees charged while the property is vacant?
Q: Are there any additional fees that are charged, such as leasing fees?
Q: Am I consulted before spending on repairs or maintenance?
Q: Does San Diego Residential Property Management have a financial stake in any of the companies it uses for repairs or maintenance?
Q: Can I review your property management agreement and leasing contracts?
Q: San Diego Residential Property Management is a member of the California Association of Realtors. Do you have any other affiliations?
Q: How do you find “the right tenant”?
Q: When you find what you feel to be the “right” tenant, how do you qualify them?
Q: How do you set the “right rent” for my property?
Q: How do you collect rent each month?
Q: Once we have a qualified tenant who is faithfully making their rental payment, how quickly does SDRPM process the monthly rents and statements for owners?
Q: Do you perform regular property inspections and how often?
Q: Who handles property related issues late at night and on weekends?
Q: Can you provide references of owners that you have represented as well as tenants that occupy your rental properties?