Do you need a property manager for your downtown San Diego condo? Not necessarily. It isn’t rocket science. You can certainly do it yourself. Sometimes tenants pay on time and don’t make a peep. But not always. It can be nice to hand over the headaches of being a landlord to someone else for what amounts to not a lot of money.
What property management services does 92101 Condo Guru, Inc. provide for downtown San Diego landlords? What does the Guru do?
- List your property on the Multiple Listing Service (“MLS” or Realtor database) and syndicated to hundreds of websites (Trulia, Zillow, Craigslist, Hotpads, Yahoo! Homes, Walkscore, Oodle, Zumper, Military.com and many more!)
- Blog about your property on 92101CondoGuru.com
- Showing property to prospective tenants and their real estate agents
- Scheduling professional photography (included in initial fee, see below)
- Coordinating all cleaning, painting, and repairs needed before and after tenant occupancy (landlord dime)
- Review/evaluate all lease applications, credit reports (using TransUnion SmartMove at prospective tenant expense), paystub and asset documentation, cover letters, and references
- Discussing all tenant application information with landlord
- Drafting lease to protect landlord
- Coordinating first month’s rent and security deposit delivery to landlord and all HOA-required move-in/move-out documents from tenant
- Facilitating tenant move-in scheduling with building HOA property manager, deliver and document keys, fobs, etc.
- Acting as the tenant point of contact for questions and repair requests
- Coordinating monthly rent payments directly from tenant to landlord
- Scheduling any repairs needed during tenant occupancy
- Billing tenant for any repairs for which they are responsible
- Assisting the landlord in returning the security deposit (less repairs but not ordinary wear & tear) within 21 days after end of lease
- Coordinating tenant eviction services with an attorney if needed
What do we charge? And why?
We charge 5% of the monthly rent when the unit is tenant-occupied ($100 minimum). When it’s vacant, we charge zero. Say what? Is that all? Well, no. There is an initial start-up fee of $1,000 or $750 depending on who finds the tenant. Hear me out. Other agents are screwing you. They aren’t putting your property on the MLS or offering a payday to agents who might have a very qualified tenant.
Tenant pays you direct. Guru bills you quarterly. Reason being . . . . it’s just easier. It also makes your property manager more accountable. And 5% because it makes the numbers easy to calculate. 😉 Professional photography is included in that fee.