Answers to your frequently asked questions
Why should I use a professional to manage my home?While the reasons our clients choose professional management vary, here are some of the key reasons many people elect professional property management over self-management:
- We handle maintenance and emergency repairs, allowing you to sleep at night.
- We enforce collection of rents and serve the proper notices upon failure to pay.
- We understand and apply the correct federal, state, and local laws, keeping you and your investment out of trouble.
- We know the local market, have an extensive network of contacts, and have advertising resources available to us at discounted rates. This allows us to effectively market your vacant home to prospective residents to get it filled.
- After you add up the increased rent we can often command, the discounts you'll receive on advertising, and the company rate we get on repairs, you'll often make more money than if you managed the property yourself!
Can I choose to disallow pets, smokers, large families, etc.?We comply fully with the Fair Housing Act. This means that you can not choose to disallow anyone that is a member of a protected class under the act. You can choose to disallow pets and not permit smoking in your home, but you cannot deny a service animal. If you have additional questions on the specifics of the Fair Housing Act, please see our fair housing page.
Do you provide me with a report of activity on my property?Yes, we will provide you a monthly report of rent and other income received, and maintenance, repairs, and other expenses incurred. This will be provided once per month. If you have questions regarding your statement, please do not hesitate to contact us.
How do you qualify a tenant?Our criteria for qualifying an applicant is clearly defined on our application. All parties over the age of 18 who wish to occupy the property must complete the application process. An application fee is charged for processing each applicant. The fee is paid by the applicants. We are authorized by the applicant to pull a full credit report and criminal background report if necessary. We call each landlord reference as listed on the application and we verify all employment data. The applicant must verify 6 months of consistent employment and three (3) times the rent in income.
Why is my property a good investment?We believe there are four main benefits in owning investment property.
- Income: Cash flow
- Equity Buildup: While the tenant is paying your mortgage, your mortgage is decreasing
- Tax Savings: Tax laws may provide a shelter for depreciation.
- Appreciation: Though property values fluctuate, Bay area real estate has been, and will continue to be, a good financial decision. If you are thinking about purchasing real estate as an investment you are not alone. Real Estate investors are flooding the market to purchase property in our communities. Housing is historically in short supply, a fact that fuels rising equity.
How long will it take to find a tenant for my property?There are many factors that contribute to a property's value and the length of time to rent the property. Location, price and condition of the home play the largest roles. It is difficult to say that your home will rent in a specific timeframe but if your property is in good condition, in a good neighborhood and priced right, it should rent quickly. A typical home may take as long as 45 days on average to rent. This includes the marketing and showing period of the vacancy as well as the wait for a resident to take occupancy after the property is rented. In some cases residents have to give a 30 day notice. This period of time is included in the average as well. It could rent in a week or it may take longer than the average based on market conditions and other factors as we mentioned above.
How and when do I get my checks?Our fees are very competitive. We are not the cheapest nor are we the most expensive management company in town. We have established a reputation of good service to our clients. In order for us to provide this service we must be able to hire and retain good personnel and purchase good technology to help improve efficiency. Please give us a call to discuss our fees in greater detail. We do not keep them secret but we do not list them on our website for specific reasons.
For more information about San Jose Property Management, please visit our educational blog page.