Frequently Asked Questions
How fast can you rent out my property?
Typically it will take two to four week on average. We maintain one of the lowest vacancy rates in North County San Diego among property management companies. This is attributed to our knowledge of the area, specialized marketing techniques, and established relationships with real estate agents who have very large clientele databases.
How do you screen prospective tenants?
Tenant screening is one of the most important aspects of having a successful and profitable rental property. Our tenant screening process starts with telephone and email correspondence where we’re able to have the initial conversations with the prospective tenants and ask them qualifying questions. This process is followed up with in-person showings where we are able to meet all prospective applicants. From there we review the submitted applications and conduct a thorough country wide background, credit, rental history, income and employment verification. Based on the results of our screening criteria we’re able to select highly qualified applicants and ensure your property is well taken care of.
How do you determine how much rent to charge?
Our team has decades of collective real estate rental industry knowledge. We use this along with a thorough list of comparative properties we have compiled and crosschecked with current industry trends. Once we have that perfect suggested rent range then we discuss it with you and typically advise to start on the higher end. Ultimately, this is our recommendation as where we should start in order to achieve our two to four week vacancy period. However, we always want to start with what you feel comfortable with.
What is a reserve? How is it funded and what is it used for?
Your reserve account is an amount of money that is held in Pacific Property Management’s trust account for issues that might arise on your property. The reserve account is typically funded by the initial payments made by the tenant. The reserve is kept so that owners don’t have to send emergency money to fund repairs or other issues on their property.
Should Landlords Supply Appliances?
This is a very good question that can be answered best on a case-by-case basis. However, a good rule of thumb to go by is: If appliances, meaning a refrigerator/washer/dryer, are already in the home and you wish to leave them with the rental then it can definitely add value. If there are no appliances at the property then it is best to advertise and show the property without them rather than make an expensive purchase for appliances that an excellent prospective renter may already have and be bringing with them. We always speak with prospective renters on the phone or in-person and will discuss various options regarding appliance needs.
How many people are allowed to live in a house?
Two people per bedroom plus one additional person may live in a home – for more specific information please visit www.dca.ca.gov
Why do I need to add PPM as an additional insured to my insurance policy?
As your property manager we act as your agent and require the same protection provided for you since we are representing you. Our management agreement, like all management agreements, has an indemnification clause that says you agree to indemnify PPM, unless we are found to be negligent. Most major insurance companies do this and for no additional charge.
How often should inspections be done?
Inspections are completed at move-in with the tenant is present, two weeks before the tenant vacates to determine what repairs are needed, and again when the tenant is fully out. Additional inspections may be requested.
What type of properties do you manage?
We manage single-family homes, condos, and multifamily homes.
What areas do you manage?
We currently manage properties in San Diego and Temecula. San Diego areas include: Encinitas, Cardiff-by-the-Sea, Carlsbad, Oceanside, Escondido, Solana Beach, Del Mar, Rancho Santa Fe, San Marcos, Carmel Valley, UTC, Clairemont, La Jolla, Pacific Beach, Mission Valley, Linda Vista, Mission Hills, Bankers Hills, Little Italy, Downtown San Diego.
How do you increase my investment opportunity?
We increase your investment by reducing vacancy time, maximizing monthly rental income, and reducing maintenance repair costs. We have one of the lowest vacancy rates in North County San Diego among property management companies. Our average vacancy time is two to four weeks. We also average $200 more a month in rental income than what a typical “for rent by owner” receives. Lastly, through our pro-active maintenance approach, we are able to educate our tenants during their move-in on how to mitigate typical maintenance issues and what they are responsible for.
Why Should I use you?
Pacific Property Management is a full-service, family-owned and operated property management company operating in the Pacific Coast of Southern California and greater San Diego since 2004.When it comes to your rental property, you want a property manager that makes it as easy as possible for you to balance ownership with other parts of your life. Investment property is just that, an investment, and when you’re putting constant work into managing that investment, it becomes a full-time job. We’ll manage the long-term and day-to-day needs of your properties, from finding and screening prospective tenants to handling maintenance, rent payment and more. We understand the business so that you don’t have to, meaning that you’ll get the kind of peace of mind that comes with knowing that your rental property is in the most capable hands.
What Information will I need to provide my Manager?
If your property is located in a HOA, you will need to provide copies of the Rules and Regulations, a blank tenant registration form (if tenants are required to register.) The names of your HOA Manager, Management Company and telephone number. If you have vendors that work at the property, we will need a list of any and all contractual service items and/or vendors, including their representatives names and telephone numbers (e.g. landscaper, pest control service contractor, Home Warranty or appliance warranty provider (s) etc.) If your property is currently rented, we will need a copy of all current rental agreements as well as any other relevant and pertinent documentation such as credit applications, correspondence, notices sent to tenants etc.
How much should I charge for a tenant security deposit?
One month’s rent for qualified applicants. Security deposits may increase depending on the applicant’s credit or if they have a pet.
When will I receive my statement?
Financial statements are sent monthly and organized so your accountant can clearly see the performance of your property.
How do I prepare my property to rent it out?
Once our management agreement is signed we will complete a full assessment of your property and recommend any necessary repairs or improvements that will make your property more appealing to the best tenants. We also provide you with a thorough checklist we have fine-tuned over the years that allows you, the owner, the opportunity to have an idea as to what it takes to make the property “rent-ready”. Our assessment and recommendations are to help you get your property rented faster and maximize your income.
Can I do the repairs myself?
Yes, if the property is vacant and the repairs are completed within 3 days. Once occupied, we highly recommend using our vendors to ensure the work is completed within 24-48 hours and because we recommend owners not introduce themselves to their tenants as this can create confusion.
Should I pay for a gardener?
We recommend owners pay for a gardener and roll the cost into the lease price. Hiring a gardener guarantees the landscaping will be maintained.
Should I pay for a pool man?
Absolutely. Pool equipment is expensive and should not be maintained by the tenant.
How long of a lease should I have with the tenant?
We generally do one-year lease terms, however the time of the year can change that. For example, if the property is rented in December, a 12-month lease would end the following December. If the tenants do not then renew the lease, the property owner is looking at filling a vacancy in the worst possible month. Because the time of year affects the pool of tenants so drastically we suggest ensuring that a lease term expires any month other than November, December, or January and we adjust the lease term accordingly.