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  • Pets in Your Rental: The Pros and Cons for Landlords & Tenants!

    Pets in Your Rental: The Pros and Cons for Landlords & Tenants!

    Allowing pets in a rental property can be a game-changer—but is it the right choice for you? In this video, we break down the pros and cons of renting with pets, from attracting more tenants to potential property damage. Whether you’re a landlord deciding on a pet policy or a tenant looking for a pet-friendly home, this guide will help you navigate the benefits and challenges.

    Watch now to make the best decision for your rental!

    Don’t forget to like, comment, and subscribe for more property management tips!

    Transcript

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    Hi and welcome Inside Uplift Property Management today we are going to be talking about pets-Everyone has them. Should you allow them into your rental? We’re going to weigh some of the pros and cons.

    The case for allowing pets 70% of Americans own pets whether that’s a cat, a dog, a lizard, a bird so we have a huge tenant pool that we can reach when we are allowing pets into our unit and for some of those pet lovers out there they will pay a higher premium for an apartment that’s that’s pet friendly or a house that’s pet friendly and then also with you know the changing laws you’ll see more and more units not allowing pets so longer tenency and that’s always important we want to keep tenant as long as we can.

    Now there are obviously risks when allowing pets into your units, pets they use the bathroom sometimes inside the house they can scratch things tear things up damage baseboard so there’s always that that property damage that can happen we have noise complaints if your dogs in the backyard barking and neighbors are going to be angry that can cause some issues and lastly we have you know allergies and liabilities future tenants might be really sensitive to certain animal hair things like that so that might require duct cleaning or you know, make the unit harder to to rent in the future and then we just have the liability of of pets right we don’t want dogs biting neighbors or or anything like that.

    So understanding the ever changing laws in California a convention has it where we used to be able to charge a pet deposit on top of a security deposit for allowing pets which was a huge motivation for owners to allow pets into their unit with some of the the laws that have changed unless you’re an exempt unit you cannot charge more than one month’s rent as a security deposit so for a lot of those multi-family units and apartments we’re no longer able to charge More Than A month’s rent which you know deincentivizes owners to allow pets into their unit you still can though pet do a pet rent here at Uplift we do $75 per pet but that’s that’s a pretty good you know way to make a little bit of extra income for allowing pets into the unit if you say no pets and the owner of the pet goes and decides to get a ESA for that animal you have to allow them into the unit and if they are an ESA you cannot charge a security deposit you cannot charge uh additional rent for that animal so just all things to to keep in mind.

    Best practices if we’re going to allow pets is you want to set clear policies you know and you can get granular with the amount the amount of animals the type of animals you want if you have restricted breeds cats only dogs only what whatever those things may be just make sure to set clear policies charge pet rent you know it’s it’s a little bit of extra income um but that can really go a long way especially in this declining rental market include a pet agreement or an addendum in your lease really important, you need to be able to outline all of those clear policies in the lease agreement so people understand what you know what they’re signing up for and what the expectations are for having a pet and then lastly conduct regular inspections you know annual inspections are really important getting inside the unit making sure that pet isn’t damaging you know any of the house or or anything like that is going to help you to side if if these tenants are good fit for your unit but also just staying on top of any maintenance or things that might need to be done it’s really important so those things don’t build up.

    So making the decision if you want to allow pets it’s really opening up your potential Market, the amount of tenants that will apply for your unit it’s very pet friendly here in Southern California but if you don’t, you know everybody’s risk tolerance is different, so if you don’t want to allow pets that’s totally fine too. If you have any questions regarding pets addendums in your lease or if you should allow pets or not feel free to give Uplift to call we’d love to talk over the the pros and cons with you.

    Conclusion

    Should You Allow Pets in Your Rental?

    Deciding whether to allow pets in your rental comes with both benefits and challenges. While pet-friendly properties can attract more tenants and potentially lead to longer lease agreements, they also come with risks like property damage and additional maintenance costs. The key is to establish a clear pet policy, including deposits, pet rent, and guidelines to protect your investment.

    At Uplift Property Management, we help landlords create effective pet policies that balance profitability and tenant satisfaction. If you need expert guidance on managing a pet-friendly rental, reach out to our team today!

    Claudina

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  • The Ultimate Moving Checklist: Your Step-by-Step Guide for a Stress-Free Move

    The Ultimate Moving Checklist: Your Step-by-Step Guide for a Stress-Free Move

    Moving to a new home is an exciting milestone, but it can be overwhelming without proper planning. A well-structured checklist for the many tasks involved will make your transition smooth and hassle-free.

    Here’s your ultimate guide to managing every stage of your move, from planning to settling into your new home.

    1–2 Months Before Moving: Plan and Prepare

    The foundation of a stress-free move is early preparation. Start with these steps:

    • Declutter Your Space: Go room by room and decide what to keep, donate, sell, or toss. Moving fewer items saves time, effort, and money.
    • Create a Moving Budget: Factor in costs for movers, supplies, travel, and unexpected expenses.
    • Research Moving Companies: Get quotes from several licensed and insured movers, or consider renting a truck if it’s a DIY move.
    • Notify Important Parties: Update your address with the post office, banks, insurance providers, and subscription services. Don’t forget to notify your landlord if renting.
    • Organize Documents: Collect important papers like leases, contracts, medical records, and school documents. Keep these in a secure, easily accessible folder.

    3–4 Weeks Before Moving: Start Packing  

    Packing generally requires the most time during your move. Actually, packing starts well in advance:

    • Gather Packing Supplies: Get very sturdy boxes, bubble wrap, packing tape, markers, and labels.
    • Pack Wisely: First to be packed are items you don’t use daily, for example, seasonal clothing, decor, and books. Label each box with its contents and which room it goes into.
    • Box of Essentials: Put in toiletries, snacks, chargers, and extra clothes for the first night in a separate box. 
    • Utilities Scheduling: Schedule utilities, internet, and cable in advance for your new place. At your current house, schedule the utility disconnections on moving day.
    • Measure and Plan: Make sure large furniture will fit through doorways and into the new space. Create a floor plan to decide on placement.

    1–2 Weeks Before Move: Finalize Details

    With moving day just around the corner, it’s time to tie up any loose ends:

    • Confirm moving arrangements: Reconfirm with your moving company or truck rental. Verify arrival time and payment details.
    • Pack Personal Valuables: Secure jewelry, heirlooms, and important documents to transport personally.
    • Prepare Appliances: Cleaning, disconnecting appliances, defrosting the refrigerator, and draining water from washers and hoses.
    • Eliminate Hazards: Get rid of items such as paint, cleaning chemicals, and propane tanks that movers won’t move.

    Moving Day: Stay Organized

    Finally, the big day has arrived! Follow your plan to minimize stress:

    • Do a final walk-through: Ensure nothing is left in all rooms, closets, and cabinets.
    • Supervise the Movers: Guide movers as to what goes where, and keep a very detailed inventory of your goods.
    • Keep Essentials Handy: Carry the box containing your valuables and important documents along with you.
    • Take Meter Readings: Take a record of the utility meter readings at your old and new home to avoid billing disputes.

    After the Move: Settle In

    After arrival, let’s get this new house feeling like a home:

    • Unpacking the Essentials: Start unpacking the essentials: kitchen, bathroom, and bedroom items.
    • Check Your Goods: Report any damages or missing items and file claims ASAP.
    • Replace Locks/Rekey Home: For security reasons, replace or rekey the locks.
    • Get to Know Your Neighbors: Introduce yourself in your new community and become familiar with the local amenities.
    • Organize Gradually: Unpack and get settled in little by little. Try to work on one room at a time to avoid feeling overwhelmed.

    Conclusion

    Though moving can be a daunting task, with good planning and an overall checklist, one can simplify the process and even make it enjoyable. Whether upgrading to a larger space, downsizing, or moving to a new city, staying organized will help you start this new chapter on the right foot.

    Is your rental property in need of management? Here at Uplift Property Management, it’s our mission to ensure your property journey is smooth and stress-free. Reach out today for professional help!

    Claudina

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  • Ultimate Guide to Screening and Keeping High-Quality Tenants Every Landlord Needs!

    Ultimate Guide to Screening and Keeping High-Quality Tenants Every Landlord Needs!

    Want to screen and keep the best tenants? In this video, we share expert tips on screening applicants, avoiding common pitfalls, and building strong landlord-tenant relationships. Maximize your rental success today!

    Watch the video here!

    Transcript:

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    Are you having trouble with your tenant?

    Welcome back to Inside Uplift Property Management where we’re going to talk to you about how to avoid those tenant problems by screening and retaining high quality tenants. We know that finding a long lasting tenant that is going to take care of your home and pay rent on time every month and not destroy something and have unlimited maintenance requests coming in can be difficult really it’s it’s hard to find that but using proven techniques and through all of our experience you know here at uplift we man we do over 1,700 applications a year for our properties we learn those techniques to find those red flags and pitfalls in screening to find that highquality tenant

    In California we get highly regulated on how we find and Screen a tenant what we can do is look for those red flags and have a lot of experience and we can set some requirements for that property but what we can’t do is violate fair housing law and just discriminate based on you know ethnicity race gender even a lot of things like criminal history and income sources and things like that that get really sticky that we need to make sure that we have clear guidelines to follow fair housing and treat every application the same way every time

    This is really inside uplift Property Management here this is what our team uses every single day when they’re going going through application screenings we do it on a little scorecard and we kind of like our our numbers low so when we come through here we say all right here’s our applicant score total right? and we want every to be a one if it’s a one that means you scored perfect right so we go through good Fair poor and then things that we just deny straight up on that specific reason alone and so we go through we have income credit score rental history and then we even look at collection types right? and so income you know that’s pretty basic credit score everybody sees that you can call your residential history but honestly most of the time they don’t answer or they don’t tell you the truth or they don’t tell you the whole truth right? so then we actually like to look at our Collections and looking at what types of collections right? is it just medical bills that are outstanding or student loans and those kind of things that are dragging you down or is it Past due credit card is it rent owed to a previous landlord is it that they don’t pay their utility bill like they’ve got Cox and Verizon and you know you know San Diego Gas and Electric do they have all of those utility bills that are outstanding cuz those are huge red flags for us and those actually lead to a lot of those automatic denials of what types of collections so sometimes somebody even has that 675 credit score but they have $2,000 in collections with utilities that’s a big red flag for us cause if they’re not paying their utilities the option of them not paying their rent is a lot higher of a chance

    So we talked about the scorecard as a whole and we do want to look at it as a whole but diving into income requirements is really basic and this is some of the basic stuff we have right so minimum of 2.5 times the income right and you see people talk about oh is it 2.5 times their gross or should I be looking at their net income how should I be looking at that here we use their gross income 2 and a half times is our minimum standard right obviously if you have a better income ratio then you’re going to score better on our application we also like to look at the consistency of that income are they changing jobs all the time is this something that they just started did we just get an offer letter and it’s not even a job contract at this point all those things matter on whether or not that income is qualified income or if it’s just them making a fraudulent claim

    Usually we have a minimum credit score of 600 obviously we can change that for a different properties you know I’m not going to expect a a fancy five-bedroom mansion house that’s have all has the luxury amenities to it I’m not going to trust that to somebody with a 600 credit score right but if I have a studio or some area and that’s a little bit less desirable I might accept a little bit lower credit score but we try to stick at a minimum of 600 and then going making sure that we go over those collections again making sure that they don’t have those utility bills making sure that we have um a clear idea of what their overall monthly finances should look like so that they they have that capability of paying that rent that matches up with their income requirement

    This one’s a little bit questionable in the industry as property managers nowadays right we still go and call all of those residential history people that somebody puts on their application but how often do they just put a random friend that is going to act like their landlord and they’re just going to say oh give this glowing review and talk all about how amazing these tenants were right or you actually get a property management company and they never answer the phone they don’t respond to the email verification requests and you just get no answer or if they do answer they only answer just the minimum basic number of questions of is there an amount due you know they’re not going to ask anything they’re not going to answer anything subjective at all because they don’t want liability on themselves right? so residential history while it’s an important factor that people like to think about it’s something that we really have to take a nuanced approach to in today’s market

    So after we’ve screened and found that highquality applicant we’ve moved them into your house they’ve been living there what do I have to do to retain that tenant to make sure that they keep that lasting income for your property long term? and that starts even before they move in so you’re going to make sure that your communication is really accurate with them upfront and then you’re going to want to make sure that you take care of those tenants throughout the entire lease that’s where a professional property manager really is a benefit to you even though you don’t necessarily see more money coming in they’re going to help expand the lifetime of that tenant in your house and some of those things that we do you know like we said communication being on top of those maintenance requests even though sometimes it might be something that’s not necessary we want to do something nice for the tenant make sure that they feel like their the house or their unit is their home right and that they feel comfortable there and then as I’ve spoken about in the past we have a cool off market right now sometimes you know we’ve got to eight eight units in this building and they’re all one-bedrooms and some of them are renting for 900 and I was getting that you know $22,000 you know last year but then today I’m trying to Market one and it’s I have it marketed at 1,800 and I’m not getting any contacts right and I I might actually have to look at price decreases on this type of property so that I can retain those tenants you know offer them $50 less for signing a year lease right? in a cool off Market it favors the landlord to have that year-long contract and retain that tenant avoid the costs of vacancy avoid the costs of all the turnover maintenance that you have you know carpets painting cleaning all of those things that come while losing the income retaining the tenant is the most important thing to do to increase that longevity of your investment

    To wrap it up for today we love having a process behind everything that we do we are a data driven business so we have data driven processes to have that screening process done right and then have the the handholding and attention to detail for your tenant while they are in your unit so that we can help retain that tenant communication processes and actually getting things done is what sets Uplift Property Management apart from the rest and I know that if you are implementing some of those systems and processes to make sure that you are giving that attention and staying dedicated to your property you will be able to find those great tenants and extend the lifespan of that tenant in your property and make more money like we all want to.

    Don’t forget to subscribe to our Youtube Channel for more property management videos!

    Do you need a property manager? Get a free rental analysis with us!

    Claudina

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  • Top Rental Property Marketing Tips for Homeowners: Maximize Your Investment

    Top Rental Property Marketing Tips for Homeowners: Maximize Your Investment

    Welcome back to Inside Uplift Property Management!

    Ready to make your rental property stand out in a competitive market? Whether you’re a seasoned homeowner or just starting, marketing your rental property effectively is the key to attracting quality tenants and maximizing your investment.

    In this video, we’re sharing the top marketing tips every homeowner needs to know. These expert strategies will help you fill vacancies faster and with the right tenants.

    Let Uplift Property Management guide you to success—don’t miss out on these proven tips to elevate your rental property game!

    Watch the video here!

    Don’t forget to subscribe to our Youtube channel for more property management videos!

    Connect with us!

    Instagram: @upliftpropertiessd

    Facebook: Uplift Property Management

    Claudina

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  • Does your property manager know what they’re doing?

    Does your property manager know what they’re doing?

    Does your property manager have what it takes to handle your investment? In this video, we break down the key qualities of a great property manager and how to spot the red flags. Don’t leave your property in the wrong hands—find out what to look for!

    Watch the video here!

    Transcript:

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    Is your property manager a true property manager? (Music) Hey everybody let’s talk about property managers and what kind of makes a property manager a good property manager. So today I want to talk about seven points that might be red flags of an inexperienced property manager a real estate agent that’s going into property management and then seven reasons why you should select a true Property Management professional that’s an expert in their field.

    All right the first point that I would want to Mark as a red flag for you know a novice property manager would be that they don’t have a huge knowledge base of California landlord tenant law.These laws get really intricate and detailed and can actually be a huge liability for a property owner as well as the the novice property manager if they aren’t able to follow the laws with exactness and it can cause huge Financial losses in the long term

    Point number two is that they don’t have a true dedicated property management software or database and systems around property management and how to run it efficiently and effectively they’re going to need to have this system in place so that they can not drop any balls as property managers we’re going from A to Z you know 1,400 things a day trying to remember everything and if you’re trying to do that on top of real estate transactions and then focusing on where where that next ball is going to drop it’s so hard if you don’t have a true property management software to fall back on.

    Point number three is that your property manager might have some inconsistent communication skills regarding these Property Management concerns a lot of times they’re going to have to be looking up those answers and they might have a poor response time to get back to you all of these delays end up costing the investor more money.

    Point number four is that they probably don’t have a real defined maintenance process now maintenance is one of those high points where you can lose a lot of money if you don’t have an expert vendor Network or really great qualified people to come in and promptly get things done again in this business time is always money and when you have a tenant in place habitability issues and no real process on how to accomplish those maintenance tasks when you have those mistakes you’re going to have to compensate for those errors and omissions that happen due to a poor experienced property manager.

    Point number five is that the the novice property manager most likely doesn’t have a very clear and well-defined way of screening the prospective tenant for your unit now they might say they have these standards and they put these standards in place but then an expert property manager will need to actually take those standards and be able to decipher based on the information that they receive from an applicant what’s true or what might be those pitfalls like if there’s outstanding phone or Internet bills you know how do those weigh heavier than say you know a medical bill that’s outstanding how can you look at the full application and fit that into the criteria to rent and make sure that it’s verifiable.

    Point number six is that often times a novice property manager will focus on short-term property gains as opposed to long-term asset value and return on investment they are looking at this through an eye of I need to get the most rent today possible in order to make my client happy when you really need to look at the total value of a property the equity that you’re helping an investor grow as well as those cash flow gains today and how do you create those value options for the for the client.

    The last point point number seven that I would make sure that you would look out for and a novice property manager would be looking for high vacancy rates long vacancies and constant turnover this can be due to again that lack of a process and communication system for your property manager to communicate with your tenant tenant retention will be one of those drivers of true long-term wealth and asset gain on your rental property.

    So turning the leaf over let’s look at seven reasons why you should hire a true dedicated Property Management professional so here at Uplift Property Management you know we we drive ourselves to be the experts continuously improving our our systems because we want to have that knowledge base and expertise specialized in Property Management so that we can provide value to you the investor.

    Our second point is that we have local focused market knowledge it isn’t just something that we’re seeing on the news that comes through on our social media feeds we are experiencing exactly what takes place in the rental market here in San Diego for us but anywhere you’re looking look for somebody that has that localized office that is centralized in an area so they can be the expert on those market trends.

    The third point I have is that a true expert Property Management professional will have an amazing vendor Network they will be connected with vendors that provide an expert value to you as the investor so that you don’t lose money on high expensive bills and invoices that are coming in that may be unnecessary or completely avoidable.

    Number four would be a focus on tenant retention now as a property management expert I know that tenant retention is something that will help provide dividends for myself as a property manager but also for you as the investor and limiting you know a vacancy or a turnover or unnecessary expenses or an upset angry tenant that doesn’t pay rent anymore like that could be something that could be catastrophic to an investment for for years so focusing on tenant retention is something that’s absolutely imperative.

    Point number five is that an a true expert property manager will know how to deal with the legal landscape of compliance in California or in your area right here in California we have loads of laws and if you don’t know them you’re going to shoot yourself in the foot you’re not going to be able to get that eviction process through cuz you’ve never gone to eviction court before and you’re going to trip over yourself over and over again you know learn from my mistakes that I I’ve already made right and understand that we take time and dedicated concerted effort to knowing the laws and how to manage and Implement those in our business being a dedicated property manager with that centralized expertise you also be part of Industry groups like narpm and when you get access to these groups and Industry knowledge you have a more concerted effort and focused information on those laws and legal compliances for Residential Properties in your area.

    Number six I feel like is the one that’s forgotten all the time and I feel like it’s so undervalued but that might come from my accounting background is uh detailed and accurate property accounting there are really specific issues that come up with property management and trust fund accounting for your property and making sure that things are done properly and accurately and transparently I think far too often you find that there’s mistakes and errors and it takes you a month to get your statement but a true Property Management professional will keep all that in place for you so they can give you one easy report at the end of the year with your $199 that you can hand your tax person and we take that burden off your plate.

    All right last but not least number seven experience with difficult situations I feel like I’ve had tens of thousands of conversations that have just had bad news and I feel like an expert property manager is always delivering bad news or at least it feels that way so having somebody that it’s experienced with knowing how to deliver that how to navigate tough situations how to get that tenant to just agreeably move out how to talk to that vendor about their pricing or the scope of work that they accomplished being able to get through those difficult conversations is something that is paramount for an expert property manager.

    All in all it may be tempting when a real estate market is cooling down to go with your friend who’s jumping into property management or the person that’s offering a cut rate plan for managing your property but you need to look at this as one of your largest Investments and you need a professional that’s an expert in managing that prop that property and managing that asset class so that you can maximize those returns for yourself that’s why you should select a professional property management company that knows what they’re doing to protect your asset.

    Don’t forget to subscribe to our Youtube Channel for more property management videos!

    Do you need a property manager? Get a free rental analysis with us!

    Claudina

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  • San Diego Rental Market Update: Insights with our CEO Tommy Perfect

    San Diego Rental Market Update: Insights with our CEO Tommy Perfect

    Welcome to Inside Uplift Property Management!

    We are proud to introduce our new video series with expert interviews on essential topics related to property management.

    From maximizing rental income to the right tenant screening and handling property maintenance, our videos will deliver expert knowledge in covering most areas. Whether you are a landlord, an investor, or simply interested in the real estate market, these interviews shall give you all the knowledge required to succeed in property management.

    In this video, Uplift’s CEO Tommy Perfect discusses the latest updates on the San Diego rental market! From rising trends to key insights. This video covers everything renters and investors need to know about navigating San Diego’s dynamic housing landscape.

    Watch the video here!

    Transcript

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    [Music] Welcome Inside Uplift Property Management we’re here today with Tommy Perfect, the one and only our CEO and broker here at Uplift Tommy’s also the NARPM San Diego chapter president a certified property manager and he’s here today we’re going to talk about the San Diego market update yeah thanks for having me on here Ryan I’m excited to share our insights from our knowledge base and experience here at Uplift Property Management and let everybody know our thoughts on the rental market here in San Diego.

    What is the average rent price here in in the San Diego Market? yeah so we have a lot of you know available opportunities to get information from various sources and I think we all know Zillow is the big dog on information so I get a lot of my information from our professional subscription and and our all our Market data from there um and looking at there across all housing types, so single family homes multi family you know Studios all the way up to five bedroom 10 bedroom houses right the average rent in San Diego is just over $3,000 and that’s at $3,081 today and there’s a little over 5,000 units available on the market today wow $3,081

    How has that changed um over the past few years? Are we seeing an increase a decrease? yeah so right now we’re actually having a really kind of Market cool down in the rental market year over-year that numberers down actually a little over $100 $119 down year-over-year and we’re seeing that happen in kind of different unit types and it’s really interesting to see you know what kind of unit you have and how that market change is is affecting your own asset you know when we look at rental properties it’s an investment and we want to make sure that we can maximize that return for all of our clients you know so making sure that we can look at what type of asset class can help you make advise and expert decisions for your property management needs.

    What would you say is causing that decrease? I mean there are you know it’s an election year things get crazy when you have you know very polarizing topics come up we’ve had some historic inflation happening you know San Diego is just marked as the most expensive city to live in and uh it just makes it really hard for people to be able to afford living here you know housing is one of those largest expenses for people right? right and you’ll actually see you know people making choices based on that economic indicator as opposed to just you know the lifestyle choices I’m seeing more people make those choices economically as opposed to uh “hey I want to go live at the beach and you know go surfing every morning” you know people are starting to change their mind about that has that.

    Has that been difficult for your clients? yeah I mean we obviously have a very vast portfolio of different types of properties that we’re managing and certain types like I should say really low-end Apartments Class C Class D type properties where it’s not super desirable maybe there aren’t so many amenities, those prices are being depressed really hard right now and and pulling the market down at the bottom but at the same time I’m seeing you know some of those houses that are really luxury nice you know you I’d actually probably say condos and town homes that are built more lifestyle like you know having that gym having that pool having the spa having the mixed use shopping that kind of stuff people are being drawn towards those communities and are willing to pay a little bit more or even get roommates to be able to afford paying a little bit more so as to have that lifestyle in in addition to cutting their cost on their rent.

    Speaking of different uh property types. What neighborhoods in San Diego have the highest demand for rental properties right now? In my experience and and I don’t know if I have great data backing this up right now other than my experience and how we’ve been managing our properties I’m seeing properties on The Fringe you know during Covid everybody was moving out to The Fringe you work from home you know cheaper lifestyle right get getting away from the cities I’m actually seeing those rentals kind of sit for longer you know those parts in the outskirts like out you know east side of elone Lakeside Santi Ramona Escondido these places that are a little on the on the Inland side are slowing down a lot and we’re seeing those those prices falling more in those areas as people gravitate more towards those Center convenient areas because you know it’s so expensive right now they’re thinking well if I have to spend so much in rent I need to I need to recoup my expenses somewhere else so they try to make sure that they’re close and you know limiting those commute times

    You talked about communities On The Fringe taking a little bit longer to rent uh San Diego is a whole could you speak to our vacancy times right now? yeah vacancy times are skyrocketing right I was just looking on Zillow today and average times are over 45 days from move out to move in these people you know these units are sitting vacant so long and those vacancy rates are really killing the return on investment for for property owners we we are really trying to price things aggressively so as to stand out in the competition to reduce that vacancy number right for every $100 you know you’re trying to increase your rent that’s $1,200 for the year but if you have a $3,000 rental and it sits for an extra 4 weeks you just lost you know $2,800 when you’re trying to just make it $1,200 more so you’re really at negative 600 in that $1,600 Less on your return on investment as if you were going to go be competitive up front you have to really know what’s on the market that day and be able to judge what you have coming in for interest on those leads you know on the applications that you’re getting and on the quality of person that you’re actually attracting to your units.

    Yeah so seems like there’s a kind of a battle between the Market’s already dropping and then longer vacancy times it’s probably making it really difficult for for owners right now yeah well and you have owners that talk to somebody and their neighbor last year rented their house out for four grand and now they think they’re going to get 4 grand but that market is showing that you know it’s down $200 $250 for that housing type in that neighborhood right? if you’re not getting the interest there’s no reason to mark yourself against that you really have to mark yourself against current market conditions and make decisions based on where you are at currently not what Jim and Susie did down the down the street

    Any tips for for property managers any tips on how to have those kind of difficult conversations with clients? I think elevating it and elevating the experience for the property owner by saying you know here’s why I am the expert right I’m going to look at that year-over-year return I can look at saying “hey we’re going to keep keep up with our rent increases if the market is continuing to go up if it corrects we’re going to be able to take advantage of those opportunities by keeping our finger on the pulse of the market as opposed to just setting the rent and forgetting it and not even thinking about it in a year and then you know a property manager forgets to do the rent increase and now all of a sudden you’re 16 18 months down the road and you never got the return on your investment that you were hoping for so having an expert property manager that has that process is exactly what you’re going to look for

    What are your predictions for rental price trends moving forward say next 1 3 5 years? oh hard to say like like I said it’s a election year and we’ve had some really historic inflation rate changes over the past few years um so it’s been really hard to keep up and and know exactly what’s going to happen and frankly if I knew exactly what would happen I probably wouldn’t be a property management company owner I would probably be off making millions and millions of dollars doing something else however, what I expect to see is I I expect us to be plateauing here for a while with this cool down prices are coming back to a level where people can afford to live and and work back towards you know that good foundation of an economy right so as we as we see the this cool down happen in Plateau for a little while obviously right now it’s October 2024 right we’re going to have our winter months which are classically slower all the way through February so I anticipate currently in the next 6 months to see you know us come out of that Plateau at the end of the at the end of February and then next year in the summer hopefully we see things that are accelerating our Market the demand is back because right now people are trying to to not move that’s shown by how many vacancies are on the market and how long things are taking to rent it’s not because people don’t need somewhere to live because we all hear about a housing crisis all the time it’s just people can’t afford to live there so we have to watch that market find find its even Keel

    I know interest rate drops are on everyone’s Minds right now uh when we see these drops happen uh how does that affect rental price? uh and then do we see more renters uh purchasing homes? Yeah well I mean on the real estate market side of things you see people get stuck in in a mortgage or stuck in a house even though they might want to move or transition right and we’ve seen historically low transactions happening on the real estate market right by that not changing you’re not seeing these rentals get created or taken away or opportunities for first time home buyers right as these interest rates change I think you’ll see those transactions go up as as rates drop but you’ll also have people who are able to refinance their house and be able to take some money out maybe they do want to buy a second property or maybe they want to build that Adu and now with interest rates falling that money is more affordable and accessible for them and it will make a return for that investor and provide housing for the renter the other side of things is that you can also see some properties are already underwater and landlords are not making money off of their rental on a cash flow basis month over month and as finances on the on the property as they have opportunities to refinance or get better rates or you know make those transitions it should allow those investors to stabilize as well

    All right Tommy well thanks for joining us uh for this San Diego market update hoping to hear more in the future. Yeah absolutely happy to share my insights. [Music]

    Need help managing your property? Get a Free Rental Analysis with us!

    Claudina

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  • Property Management Horror Stories That Will Shock You!

    Property management can sometimes feel like navigating a haunted house of unforeseen challenges. From tenants who vanish, leaving behind piles of unpaid rent and damages, to properties taken over by unauthorized subletters, these shocking “horror stories” serve as cautionary tales for every landlord.

    While some stories may seem unbelievable, they highlight the importance of thorough tenant screening, regular property inspections, and a proactive approach to management.

    In our video, Property Management Horror Stories That Will Shock You! we delve into some of the most nerve wracking experiences that landlords have encountered, offering insights into how to prevent similar nightmares. For property owners looking to avoid these pitfalls, partnering with a reliable property management team can be the key to transforming what could be a horror story into a happy ending.

    Think you’ve seen it all in property management?

    Whether you’re an experienced landlord or new to the game, these real life experiences show unbelievable aspects every property owner should pay attention. Grab a seat—this one’s going to be a wild ride!

    Watch the video here!

    Like this video? Make sure to subscribe to our Youtube channel for more property management content.

    Do you need a property manager? Contact us today!

    Claudina

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  • The Ultimate Maintenance Checklist for Property Owners

    Looking after your property’s maintenance properly will not only ensure a long life for your investment but will also be a crucial part in keeping your tenants happy and avoiding expensive repairs in the future. At Uplift Property Management we recommend you make sure that you have a thorough maintenance checklist in place to keep your property in great shape throughout the year. 

    Provided below is the ultimate maintenance checklist to assist you in becoming organized and proactive with regard to your property management efforts!

    Seasonal Maintenance Tasks

    In the following, you will find seasonal maintenance tasks for your property at all four seasons of the year:

    Spring Maintenance:

    • Check your roof: Inspect for any damage caused by the winter weather, like missing shingles or leaks.
    • Clean out your gutters: Leaves and other debris must be flushed out of gutters to prevent any damage from water.
    • Servicing your HVAC System: Consider changing the filters of your HVAC system.
    • Try some Landscaping: Spring is the perfect time to trim trees and shrubs, plant new flowers, and make sure that your lawn is healthy.
    • Inspect for Pests: Look for any signs of pests and take precautionary measures to avoid them.

    Summer Maintenance:

    • Air Conditioning: Confirm that your AC is functioning correctly and as efficiently as possible during hot summer weather. You may want to schedule a professional tune-up.
    • Windows and Doors: Inspect for any drafts, damage, or worn weather stripping and take care of the needed repairs.
    • Outdoor Areas: Check decks, patios, and driveways for any cracks or damage and power wash and reseal if needed.
    • Irrigation Systems: Test irrigation systems to be sure they are working right and adjust them for the summer watering schedule.

    Fall Maintenance:

    • Heating System: Have the heating system serviced before cooler weather begins.
    • Inspect Insulation: Check for insulation in the attic and basement to retain energy efficiency.
    • Clean Chimneys: If you have a fireplace, now is a good time to have your chimney professionally cleaned and inspected.
    • Weatherproofing: Check for any gaps around windows and doors and seal them to prevent drafts.
    • Prepare for Winter: Clean out the gutters, inspect the roof, and outdoor faucets and hoses should be winterized.

    Winter Maintenance:

    • Inspect Plumbing: Look for leaks or drips in plumbing and check if your pipes are insulated to prevent freezing.
    • Snow and Ice Removal: If applicable, clear walkways and driveways of snow and ice to avoid accidents.
    • Test Smoke and Carbon Monoxide Detectors: Test all detectors for proper functioning.
    • Inspect and Clean Dryer Vents: Cleaning dryer vents and checking for any blockages will help reduce fire risks.

    Monthly Maintenance Tasks

    These are some of the tasks you can do monthly for your property’s maintenance:

    • Test Smoke and Carbon Monoxide Detectors: Make sure all alarms are still working properly and replace batteries as needed.
    • Change HVAC Filters: Replace or clean HVAC filters to protect air quality and be easy on your system.
    • Inspect Fire Extinguishers: Ensure they are fully charged and within easy access.
    • Inspect for leaks: From all taps, toilets, and underneath the sinks.
    • Test Emergency Lights: If applicable, turn on all emergency lights so you can verify that they are working the right way.

    Annual Maintenance Tasks

    These are a few annual maintenance inspections to keep your property top tier:

    • HVAC Inspection: Schedule professional inspection and servicing of your HVAC system.
    • Pest Control: Arrange a professional pest control inspection and then, if necessary, treat it.
    • Inspect Roofing: Have a thorough check of your roofing for any current damage or upcoming issues.
    • Service Water Heater: Flush the water heater to remove sediment and check for any signs of wear or leaks.
    • Inspect Foundation: After the inspection, if needed, seal any cracks or other signs of damage to the foundation immediately.

    Conclusion

    Proper maintenance of your property requires an ongoing process of much diligence and attention to detail. Follow through with our ultimate maintenance checklist, and you will be ensured to keep your property in the best possible shape. This ensures a safe, comfortable environment for your tenants while preserving the value of your investment. Regular maintenance not only prevents expensive repairs but also adds to tenant satisfaction and, hence, their retention.

    Looking for some help in property maintenance? Why not give us a call today for professional property management services, ensuring your investment is well looked after throughout the whole year.

    Claudina

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