Ray Amouzandeh and his team of professionals at TARGA Residential Brokerage, Inc. take pride in their ability to assist San Francisco landlords in finding the right tenants. Their goal is to provide an outstanding level of customer service to each client, offering property management and rent/lease solutions designed to maximize their property’s investment value, whether it’s an apartment, condominium, or rental home.
At TARGA Residential Brokerage, we believe the key to success as a landlord is to be well-informed. If you’re planning on renting or leasing your property in San Francisco, here are a few helpful tips and things to remember:
Requiring renters insurance from tenants is something that’s typically overlooked by many landlords. In case significant damage to the property is caused by the tenant, your landlord insurance may not be enough to cover the cost of addressing the damage. Compensation however, may be sought through the tenant’s liability coverage. Obtaining renters insurance will also give your tenant protection over their personal belongings through policies that cover losses.
Perform necessary repairs on the property immediately
Addressing repairs in a timely manner will help save your property from more damage, helping you minimize costs. For example, if you repair a minor leak immediately, you’re preventing the possible spread of mold, which saves other parts of your property. Repairs performed in a timely manner are also an indication that you take necessary steps to protect your property, which means the tenant should do so, too.
Document your property’s condition
Remember to take photos and videos of your property before tenants move in, and repeat the process once they move out so you can see potential damage to the property. Keep track of repair costs, collect receipts, detailed job descriptions, and records of invoices.
Create a network of dependable contractors
You can use online resources like Home Advisor to find reliable licensed contractors, complete with reviews, ratings, and experience levels. Building your own network of dependable contractors will be very useful down the line in case you need repairs on your property, so you can maintain its good condition and keep your tenants satisfied.
Choose quality renovations
Renovating strategically leads to increased rent and better tenants. For example, make sure your property has clean and durable flooring. In addition to increasing the rent, this is also one of the first things a tenant notices when looking at a property.
Hire a real estate attorney
A real estate attorney can help you draft a lease, keep you updated on current zoning ordinances, and more. In case you need to go through the eviction process for example, some states require strict compliance with the law – you will need help from an attorney to make sure the demand notice includes the proper language and is served correctly.
Owning an investment property is a business
As a landlord, rent serves as your income – property management fees, taxes, repair costs and everything else are expenses. If you treat your investment property as if you’re running a business, it’ll be easier for you to reach your goals as a landlord.
If you’re a landlord looking for short or long-term tenants in San Francisco, get in touch with Ray Amouzandeh at TARGA Residential Brokerage at (415) 494-7009, or send an email to sfhomez(at)gmail(dotted)com