Property Management Blog

How to Reduce Vacancies in My Sacramento Investment Property

Ryan Miller - Tuesday, January 03, 2017


Finding great Sacramento tenants is a priority, because vacancies are expensive. The rental income you lose on the month or two months that your home is not rented can never be recovered, and it not only depletes your cash flow, it also harms your ROI. Make sure your Sacramento investment property stays rented by following these tips.

Make Renovations and Upgrades

When you have an appealing property to offer prospective tenants, it’s easy to avoid a vacancy. You don’t have to spend a lot of money renovating the property every time a tenant moves out. However, you do want to make sure your home is clean, modern, and functional. Make smart upgrades that are inexpensive. Install tile flooring instead of carpet. It looks better, it’s easier to maintain, and it will last longer. The appliances don’t have to be stainless steel, but they do have to be less than 20 years old. Give your prospective tenants a home that they will be eager to rent. That will make you more competitive and reduce the likelihood that your property will be vacant.

Pricing and Marketing

Pricing has a huge impact on vacancy. If you price your home too high, you’ll drive away good tenants and be left with an empty property. Take a look at comparable prices in your area, and price the home based on what the market will bear. A lot of Sacramento landlords make the mistake of pricing their home based on what they want to earn, and not what tenants will be willing to pay. You have to know your market. Advertising and marketing is also important in avoiding long vacancies. Make sure your listing has great photographs and compelling descriptions. Post it on all the rental websites that potential tenants are using.

Tenant Retention

The most effective way to avoid vacancies is to keep the tenants you have. When you have a great renter in place who pays on time every month, takes care of the home, and follows the terms of the lease, you want to keep that tenant as long as possible. That might mean not raising the rent every year, or providing other incentives to keep those tenants in place. It’s worth it. Show your tenants that you appreciate them and want to keep them.

If you have any questions about how a Sacramento property management company can help you avoid expensive vacancies, please contact us at Titan Property Management.

How Titan Property Management Protects Your Sacramento Investment Property

Ryan Miller - Wednesday, December 28, 2016

When you hire a Sacramento property management company, you expect to get day-to-day management. You know your rent will be collected, tenants will have someone to call if a toilet breaks, and your property will remain leased and profitable. You also need to think about long term returns and the protection of your investment. A good management company will protect your home by saving you money, preserving its condition, and making sure it’s performing as well as you expect it to. 

Educating Tenants 

One of the most common disputes between tenants and landlords is over the security deposit. Money can be withheld from that deposit to pay for damage left behind by the tenant, but it cannot be used for normal wear and tear. A good property manager will know the difference and will educate tenants about their responsibilities and how to get that deposit back. When tenants understand what is expected and required, they will take better care of your property, and they will do what they need to do to have their security deposit returned. This minimizes damage at your property and allows for quicker turnover periods. 

Preventative Maintenance 

Fixing a simple leak is a lot easier and more cost effective than repairing water damage that occurred due to a flood. Property managers regularly schedule maintenance and repairs so that there is no chance of small problems becoming large problems. They encourage tenants to report problems right away, and they respond immediately to issues that put your property at risk. 

Rental Inspections

At Titan, we perform a rental property inspection annually. This is a comprehensive look at the property that includes all the systems, the appliances, and 
everything that’s found in the interior and exterior of the property. This tells us what kind of repairs or upgrades are needed, and it helps Sacramento investors plan for expenses that might be coming up. We will provide you will detailed photos and documentation that gives you a clear picture of the state of your investment property. These inspections are a value to our clients because it ensures that nothing is missed at your property, and we know that your tenants are following the terms of their lease

There are many other things we do to protect your property. If you’d like to hear more, please contact us at Titan Property Management.

How to Switch Property Management Companies in Sacramento

Web Admin - Wednesday, December 21, 2016

When you begin a relationship with a Sacramento property management company, you hope and expect that it will be for the long term. However, sometimes it’s not a good fit or you find your needs aren’t being met by your current property manager. When this happens, you need to find a company that works better for you. There are a few things Sacramento landlords should keep in mind when switching property management companies.  

Check Your Management Contract 

Revisit your management contract to find out what you need to do in order to withdraw from it. Some companies have a notice period, where you’ll have to provide them 30 days, 60 days, or even more notice before canceling the contract. There might be a cancellation fee involved as well. Review the contract and find out what you have to do.  

Gather Documentation 

Your new property management company should be proactive in contacting your current manager and even your tenants to ensure there is a smooth transition. However, you can help by forwarding any documentation that you have on your property and your tenants. Your new property manager will need copies of your leases, information on where the security deposit is being held, and any other notes you have such as inspection reports, maintenance histories, and payment records.  

Time the Transition 

Timing the transition from one property manager to another is crucial. It’s best not to introduce a new manager at rent collection time, or at the beginning of the month. You may not want to switch mangers in the middle of a major renovation or during an eviction. Plan the transition so that there is little stress on your tenant and when you know that everything can be handled professionally and efficiently. Consult with your new property manager about the best time to step in. Ideally, you’ll be working with someone who has dealt with this before.  

Switching property management companies can feel emotional and stressful. You owe it to yourself and your tenants to work with someone you trust, and who can help your property perform at its peak potential. If you need any help finding a new property management company in Sacramento, please contact us at Titan Property Management.

How to Get the Maximum Rent for Your Sacramento Rental Home

Ryan Miller - Wednesday, May 18, 2016

 

Achieving the maximum rent on your investment property is the goal of every landlord, and there are a few specific things you can do to increase what you ask. However, you first need to completely understand your market comps and analysis. Know the high and low rents in your area. Then, you can assess your curb appeal, general upgrades, timing of the year and appealing to a qualified tenant.

 

Curb Appeal

 

Depending on the neighborhood, your landscaping will vary. Have an easy to maintain lawn and a landscape that is clean and attractive. You don’t want deferred maintenance on the outside of the building. Whether you have a house or a multi-family property, you need to keep the house up. You’ll want your tenant to maintain it, so make sure you do as well.

 

Upgrades and Renovations

 

Not every property needs granite counters and stainless steel appliances. Some properties do, so look at the market and the neighborhood. If you see those things, they can maximize your return. Some properties will just need new paint and clean carpets.

 

Time of Year

 

To maximize what you earn, you want to rent your property during the summer and late spring months. Don’t rent out in fall and winter if you can help it. If you do find yourself placing your property on the market then, rents may be a little lower. In these cases, do a six or eight-month lease so your renewal comes up in the summer. If the tenants vacate, at least you are releasing them in the summer, and finding new tenants will be easier.

 

Quality Tenants

 

You’ll earn more money with good tenants. Make sure you’re screening for acceptable credit, income requirements and rental history. Look at payment history and how they took care of properties previously. If they wear it down, that will cost you a lot when they vacate. If you have to evict or service notices to vacate, you’re going to have higher turnover and you won’t be maximizing your rent. Find a quality tenant who understands caring for a home instead of calling for everything that they should be responsible for – like light bulbs and air filters.

 

If you have questions about maximizing your rent, please contact us at Titan Property Management.

5 Reasons Why You Shouldnt Manage Your Own Sacramento Rental Home

Ryan Miller - Wednesday, May 11, 2016

Managing a Sacramento rental property requires knowledge and processes that ensure you’re able to earn a healthy return on your property investment. Many times, landlords who manage on their own think they are saving money, but they are actually losing valuable rental income and setting themselves up for potential liability. Here are the five main reasons you shouldn’t manage your own rental home.

 

Incorrect Pricing

 

Overpricing and underpricing your home is a risk, and you need to price your rental according to the market. When you overprice the property, it will sit on the market and extend your vacancy period. You’ll lose rental income when you don’t have any tenants interested in the home. When you underprice the property, you’re giving up income very month and even if it’s $10 or $50 a month, that’s going to add up. Either way is a loss. A property manager will read comps, understand the market and price your property correctly. These are key factors to making sure that you maximize your return on investment.

 

Inadequate Tenant Screening

 

Property managers have access to resources and tools that enable a more thorough tenant screening. We can read credit reports and effectively screen tenants based on financial status and past landlord references. If you have a turnover every six months because you aren’t placing qualified tenants, you’re going to lose money and your ROI is significantly shrunk. Turnover costs and loss of rent will add up.

 

Solid Contracts

 

You need a good lease that is enforceable in California and filled out and executed correctly. Property managers can make sure you and your interests are protected through your lease and other contracts.

 

Proper Accounting

 

You need to understand your bottom line and how you got there. Property managers can provide you with accurate and transparent

accounting. If you manage on your own, you’ll need to figure out a system to manage your bills and statements. Your tenants also need to know their charges and why they might be responsible for a plumbing repair. Property managers provide portals so everyone is aware of their costs.

 

Tenant Owner Relationship

 

Managing the relationship with your tenant can be challenging. With a property manager, you can enjoy your life instead of dealing with the tenant calling you at night because there’s a problem. The tenants will contact your property manager instead.

 

If you have any questions about the benefits of professional management and the risks of self-management, please contact us at Titan Property Management.

3 Tenant Screening Tips for Sacramento Landlords

Ryan Miller - Tuesday, May 03, 2016
Tenant screening is a critical part of being a landlord in Sacramento because the tenant you place in your property will impact your success. A good tenant will pay rent on time and take care of the property. A bad tenant can cost you money and damage your property. These are the three key screening tips we always share with landlords.

Reading a Credit Report


Spend some time analyzing your applicant’s credit report. You are not just looking at the credit score. While a 700 plus credit score is great to have, it’s not always necessary. Look at the details of the credit report. If they have a bankruptcy, foreclosure or short sale in the past but they have been good since then, you may be able to work with them. You don’t want to see late utility payments and car payments or delinquent rents and judgments from other landlords. While a high credit score is great, as long as there are no recent collections on a tenant’s credit report, they will probably be okay.

Financial Status


The tenant’s present financial status is also an important part of screening. Verify income. You’re looking for a tenant who earns at least three times the monthly rent in verifiable income. Ask to see pay stubs and bank statements. Look for reserve funds on the bank statements. You want a stable tenant who can afford to go through some adversity. If they have a stable job and some savings, you know they are in good shape financially.

Rental History


This is the most important part of your screening process. Check with current and previous landlord references. If they are consistent, you know that you have a good applicant or you don’t. If the current landlord says the tenants are great but previous landlords say they were problematic tenants, you know that the current landlord has the incentive to be less than completely honest.

These tip are just the start of the screening process. If you’d like to hear more, please contact us at Titan Property Management.

Why Work with Titan Property Management in Sacramento

Ryan Miller - Thursday, April 28, 2016

Titan Property Management is a full service management company that serves the greater Sacramento area. There are a number of reasons that you should work with us when you need someone to handle your rental property, and today we’re highlighting a few of those reasons.

Local Expertise


We are the local experts. Our company has been in business for over 30 years in the local Sacramento market. This is a family owned and operated business, and three generations have contributed to its growth and success. We own and invest in the Sacramento market ourselves, so we know it better than anyone.

Staff Responsiveness


Our employees are highly trained and know how to communicate well with clients, tenants and vendors. Our team includes account managers and support staff so you can effectively get any information when you need it. There are also owner and tenant portals so you have access to that information at all times. We operate a 24/7 emergency contact system so you can always call after hours and get a call back for true emergencies.

Tenant Screening


We take preventative measures with tenant screening. Not only do we want tenants who qualify and meet our rental criteria, we also want to make sure they will be good residents. Before we approve them for your property, we’ll review their financial statements, their credit report and rental references. We don’t just talk to their current landlord; we talk to prior landlords as well.

Efficient Technology



Current technology is used to create efficiency and transparency. We want you to know the bottom line and how you got there. We also want tenants to be able to see and understand their charges and what they are for. The technology we use allows you and your tenants to access statements, charges, work orders and other information 24/7.

If you have any questions regarding our services, please contact us at Titan Property Management. We’d be happy to share additional reasons for you to work with us.

Apartment Living in 2080

Ryan Miller - Tuesday, December 17, 2013

Source: AppFolio.com

Apartment Of The Future - Infographic

America On The Move

Ryan Miller - Tuesday, December 17, 2013

America On The Move - Infographic

Source: AppFolio.com


Is it time to hire a Property Manager

Ryan Miller - Tuesday, December 17, 2013

Is It Time To Hire A Property Manager - Infographic

Source: AppFolio.com