Property Management San Diego & Coronado
In our many experiences managing properties in Downtown San Diego and Coronado, we have discovered that many of our clients want options, so we offer two levels of property management. Our basic service Tenant placement or Full-Service property management:
- How much Does it Cost?
- We charge 6% as a fee for marketing, screening and placing a tenant plus $149 for professional photography which includes 20+ photos.
- Owner pays commission offered to cooperating broker of $300.
- This 6% is charged upfront at the time the lease is executed and the tenant takes possession of the property.
- Example: 12 month lease at $3000 per month would be $36,000 x 6% = $2160 at time of move in (once 1st month’s rent and deposit have been collected).
- At the end of the initial lease term, should you choose to extend the Lease Agreement with the current tenants, we charge 3% as a fee for inspecting the property, reassessing the rent, modifying and/or extending the terms of the agreement, and completing the Lease Agreement extension with all parties.
- Our property management website: welcometosandiegomanagement.com allows prospects to see all of our available properties and apply online
- We market the property via many online publications including Trulia, Zillow, Hotpads, Realtor.com, Apartments.com, the MLS and many more websites
- We post window flyers in the front windows of our East Village office (located at 875 G Street #108) and Little Italy office (located at 1774 Kettner Blvd)
- We promote the property to the numerous walk-in prospects who frequently come into our offices
- We answer all phone and internet inquiries promptly
- We show the property and arrange for other agents to show it 7 days per week
- Screening Tenants
- We complete a comprehensive screening process, which includes: running the prospect’s credit report(s), rental history and eviction screening, criminal background check, verbal verification of employment, income and asset documentation, verify previous residence, do web based research, and call all references, so the property owner has all the necessary information to make an informed decision
- We verify identification by collecting a government issued photo ID
- We require a minimum FICO score of 680 and require gross income to be at least 2.5 times the monthly rent
- We report all findings from the screening process to the owner and if asked, provide recommendations based on our experience. We recommend owners complete any additional screening that they may desire (such as, calling references directly), in accordance with Fair Housing Laws
- Lease Agreements
- We negotiate the terms, create the lease and have all parties sign
- We facilitate the collection of the security deposit, first month’s rent, and proof of Renter’s insurance for the owner
- Move-in Tenants
- We complete a move-in (and move-out) inspection and take pictures and document the condition of property both before and after tenants
- We provide the tenants with important information including HOA Rules & Regulations, move-in/move-out requirements, etc
- We introduce owners and tenants, so that when we conclude our services, the “hand-off” is seamless
- The “Hand-off”
- Once tenants have taken possession, our services will come to an end for the time-being
- Tenants pay rent to the owner directly, all repair and maintenance needs are to be addressed by the owner
- The owner holds the security deposit and handles the disbursement of the deposit at the end of the lease term
- We will reach out to the owner approx 2 months prior to lease termination for direction
- What’s Not Included with Tenant Placement services
- We do not handle collecting monthly rent
- We do not hold the security deposit
- We do not stay in communications with tenant (if tenant contacts us, we refer them to the owner)
- We do not facilitate any repairs or maintenance – the tenant contacts the owner directly and owner is responsible for arranging service work and payments for any work rendered
- We do not include any monthly reports or year-end profit & loss statements for your tax preparer.
- Minimum Lease term for Tenant Placement Services is 12-months
Full Service Property Management
- How much Does it Cost?
- Full service is for owners who want a completely “hands-off” experience. For full service property management, we charge 9% of the monthly rent, plus a one-time $149 fee for professional photography which includes 20+ photos. The 9% fee is during occupancy; there is a minimum $100 charge per month during vacancy. We provide full-time property management, whether the property is occupied or unoccupied; including arranging maintenance, monthly accounting, marketing, etc. (our service does not stop during periods of vacancy) Owner pays commission offered to cooperating broker of $300; this is paid at lease commencement.
- What’s included in full service property management?
- Our full service property management includes all of the services as our tenant placement services, PLUS…
- We are the only point of contact for your tenant
- We collect rent and disburse funds to owner via direct-deposit and provide a monthly statement
- We handle all repairs and maintenance:
- For example, if there were a leaky faucet, the tenant submits a maintenance request and we would schedule the plumber. The plumber would call us with an analysis and estimated cost. If the cost of the repair is $300 or less, we will authorize the repair and take care of payment. The amount would be deducted on the next monthly statement.
- For repairs over $300, or that may result in the change of the appearance (such as a new light fixture), or if Homeowner’s Insurance is involved, the owner will be required to become involved.
- We work with the HOA on the owner’s behalf to arrange any annual maintenance or should the tenant incur a violation, complaint, etc.
- In contrast to our tenant placement program which requires full payment at the lease commencement, we collect 9% of the rent at the time of payment. For example, if the rent is $3000/month, upon collection of rent, we would collect our fee of $270 (9% of $3000) and send the owner $2730.
- Full service property management includes a monthly itemized statement and annual profits and loss statement and 1099 for your tax preparer.
If you don’t want to deal with tenants calling to say the rent is going to be late or that they locked themselves out of the property, then leave the work to us. We are happy to handle your full-service property management needs.
Give us a Call and we will get the process started: 619-618-2253 or check out our Property Management Website