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Landlords and security deposits

What a Rental Security Deposit Can and Can’t Be Used for in Redding CA

There was a time when landlords could give every vacated rental property the white glove test and keep large portions of tenant’s security deposits for the slightest infraction, those days are long gone. California rental law has tipped in the favor of tenants, and it is very specific about how and what deductions can be withheld from a security deposit. As a landlord, the best way to protect yourself is to know and understand the law and do everything by the book.

According to California rental law, there are only four reasons that landlords can withhold money from a security deposit. (more…)

8 Property Management Blogs Every Landlord Should Be Reading.

 

Property Management Blogs, Landlords Need to Read!

 

Updated 5-13-2019

When it comes to property management, we realize there are many issues to deal with each day. From making sure tenants pay their rent to go into a property after a tenant leaves and making it look like new, there are plenty of issues that can make property management a time-consuming process. However, thanks to the internet, there is more information than ever available to landlords wanting to know how to make property management as easy and profitable as possible. If you find yourself at a crossroads when it comes to getting the information you need to make sure properties are managed in an effective and efficient manner, here are eight property management blogs we believe every landlord should be reading.

Property Management Blogs - Authority Property Management

The Bigger Pockets Blog

Whether it’s information on real estate investing, personal finance, marketing strategies, or simply how to be a successful businessperson, The Bigger Pockets Blog has this and much more for your reading pleasure. One of the most common topics on this blog concerns tenant issues and how landlords should handle them, which is key to making a landlord’s job as easy as possible. In addition to this topic, we particularly like the emphasis on real estate investing, since a smart real estate pro is always on the lookout for the next great tip that will help them land a new property for their portfolio.

And along with its great articles, we also like its other features as well. For example, if you want to connect to other landlords or investors in your area, you can go to the Network section, where you can search from a member base of well over 1 million people. Along with this, you can also find real estate events in your area, search for local reputable contractors, browse videos and sign up for webinars, and even visit the blog’s store to purchase books on various real estate topics. (more…)

Rent Control Is Not The Answer

Why Rent Control Is Not The Answer

With a national housing shortage quickly becoming a national housing crisis, lawmakers are desperate to find a solution. As with any industry, supply and demand have a direct effect on prices. When demand is high, so are prices and shortages lead to high demand. This means that not only is housing in short supply, but the price of available housing is also shooting through the roof. One of many potential solutions that gets frequently talked about is rent control. While many may view putting a cap on rental prices as being the simplest and most ideal solution, it isn’t actually all that it is cracked up to be. Here are five reasons why rent control is not actually the best solution to the current housing crisis. Rental City with Out Rent Control

1. Higher rents actually create more housing, which leads to lower rental prices

Rental properties are investments. The more money investors make off their investments, the more money they have to put into more investments. When you are making a great deal of money off of a specific type of investment, you are unlikely to suddenly switch gears and start pouring money into a different type of investment. The more money that real estate investors make from real estate, the more money they will pour into buying or developing new properties. This means the creation of more homes and rental properties, rather than fewer. The more money investors have to pour into creating or developing new properties, the more inventory there is, which in turn helps naturally lower rental prices.

2. High rents put pressure on employers to pay a living wage

Businesses need employees, plain and simple. If employees cannot afford housing in a given area, then businesses have no employees. Rental caps put pressure on landlords to lower or not raise rents rather than putting pressure on businesses to pay their employees a living wage. By implementing rental caps, you take away the incentive to employers to pay their employees a fair wage based on the needs of the area the business is located in. For instance, businesses in New York City can charge significantly more than the same business in a smaller town or city. There are few, if any, laws, however, that say they have to pay their employees more than any other city. If rental prices are controlled, then they still have no incentive to pay their employees more than any other city, even though the cost of living is so much higher. All rental caps do is increase the profit margins of more businesses rather than forcing them to use extra profits to pay their employees better.

3. Higher rental prices lead to better properties

It is a mistake to assume that higher rents simply mean higher profit margins for landlords, owners, and investors. Instead, higher rents force them to invest more in renovations, upgrades, and safety. People expect to get what they pay for. When rents are cheap, they don’t expect much, and they don’t get much. As rental prices soar, however, so do their expectations. This leads to properties that are safer, cleaner and more well-maintained. In addition, old out-of-date properties get torn down, and newer, more modern structures take their place. Overall, urban development depends on profit to move forward. This not only benefits the wealthy, but it also benefits the poor. As old, outdated structures are torn down and new ones built in their place, the wealthy move into the newer, modern buildings, but leave vacancies in the older buildings that are still a far sight better than the ones that were torn down.

4. Mixed development is better than rental caps

City With Rent ControlNo one is unaware that the poor still need a place to live. When the poor have no place to live, they regularly become the problem of the government, which means the government has a vested interest in ensuring they have a place to live. Conversely, however, wealthy developers are often some of the biggest political donors, which can create something of a conflict of interest. Wealthy developers are not generally interested in creating housing for the poor, as there is very little profit in it. In addition, wealthy people don’t generally want to live around poor people, and even poor people don’t often want to live in wealthy neighborhoods.

The problem, however, is that many public services such as schools, libraries, and parks are funded by property taxes, so wealthy areas have the best services while poorer areas are left with none. The answer to this is mixed development. Rather than simply putting a universal cap on rents, a better solution is to create laws that create a sliding scale for rents. In other words, the owners or developers of an individual development must set aside a certain number of units for low-income residents, a certain amount for median-income residents and then they can offer the rest to high-income residents at appropriate prices. In this way, instead of having all the poor housed in one area with no services, they can be scattered among the wealthy to be able to take advantage of the services their higher property taxes pay for.

5. Rental caps actually decrease the number of available rentals

There is any number of ways that landlords and property owners can get around rental control laws when they are enacted. Two of the most popular ways are simply to convert existing apartment buildings to condos and sell them or to raze the building and build a new one simply. In either case, this harms the poor more than it helps them. While rent control may not decrease the amount of available housing, it changes the type of housing available and the demographic it is available too. Rental pricing caps are meant to help the poor, but in the end, will generally only end up doing them more harm than good. On the other hand, as rental prices skyrocket, so do property taxes. This means owners, developers, and landlords raking in higher profits are also paying higher taxes. The answer then is not to limit the amount they can charge in rent, but rather to take the increased taxes they are paying and use those monies to offer supplements or subsidies to lower-income renters.

There is any number of instances in which the way things work on paper is not the way things work in real life. There is any number of ideas that sound good in theory but entirely fall apart in practice. Rental caps are one of these things. There is no doubt that it looks like a brilliant idea in theory and seems like it would go far to help the poor. In reality, however, it only ends up further harming the very people that in theory, it would seem to protect. No matter how great of an idea it may seem, in truth, its flaws far outweigh its potential.

 

 

 

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Property Managers – 10 Reasons Why

Property Managers: 10 Reasons To Have One

When investors expand their property management portfolios, one of the most important aspects is finding a great property management team with whom to work. Thus, when we are speaking with potential clients, we know the pressure is on to give them a variety of reasons why they need our services. Of course, we can always talk about how partnering with us will keep them from being awakened in the middle of the night to go fix a resident’s overflowing toilet. While this is certainly a perk, it may not be enough for us to make the final sale during our presentation. Therefore, when making a pitch to potential clients, we have plenty of other great reasons from which to choose. If you are curious as to what they are, here are 10 of the best reasons why it’s great to have an excellent property manager looking after your homes.

Saving Money on Contractors
If there is one thing real estate investors hate, it is wasting money on contractors who turn out to be unlicensed or simply inept at their job, which usually results in small problems becoming much bigger ones. However, as we tell potential clients, partnering with a reputable property management firm can eliminate this problem. Instead, clients can have us vet potential contractors to ensure they are licensed, bonded, and insured. Combining this with excellent on-site maintenance staff and supervisors, the result is less hassle, happier residents, and fewer high-priced Bad - Good Rental Applicantemergency repair bills.

Increased Revenue
For any real estate investor, increased revenue is music to their ears. We understand this, which is why we emphasize our ability to thoroughly screen potential residents. By using state-of-the-art technology, we can easily spot red flags on applications, which in turn will help identify those applicants who are most likely to pay their rent on time and pose few if any problems regarding property damage.

Avoiding Legal Problems
For real estate investors, legal problems with residents or potential residents can be time-consuming and expensive. In fact, a recent TransUnion survey showed it costs the average landlord almost $2,000 to evict a resident. Rather than be saddled with this problem, we point out it is far more efficient and cost-effective to partner with us and our property management services. By doing so, investors can have managers for their properties who understand landlord-tenant laws, especially in areas involving discrimination, eviction processes, and safety rules and regulations.

Higher Occupancy Numbers
When a property is vacated, landlords want it filled again as quickly as possible. We understand this, which is why we can offer a variety of marketing strategies that will ensure not only that the vacancies are filled quickly, but are done so by residents who will be long-term, resulting in investors having a high return on their investment.

Higher Retention Rates
Just as we know it is important to give our clients high occupancy numbers, we know it is equally as important that their properties also have high retention rates. After all, it does little good to fill a vacancy, only to have the resident leave a month or two later. In our experiences, the best way to maintain high retention rates is to create an atmosphere where residents are happy where they live. To accomplish this, we ensure a safe and attractive community is maintained, management has excellent relationships with residents, and much more.

Simplified Accounting
While we leave the in-depth aspects of accounting to a client’s CPA, we do offer various services that can greatly simplify the accounting and oversight process. These can include information about tax deductions and investment opportunities, as well as owner portals that include on-demand statements and reports regarding income, expenses, and maintenance requests. By keeping owners informed, there are fewer chances for mistakes and oversights to occur.

Rent Collection Process
Since homeowners have plenty to do besides chasing down tenants to collect rent, we make sure this process is made as simple as possible. Along with establishing and enforcing payment guidelines, we can also set up portals allowing tenants to make online rent payments, making the collection process easy and efficient for all parties.

Freedom to Pursue Other Interests
With many real estate investors, their goal is to generate enough income to enjoy an active retirement. This can include traveling the world, spending more time with family and friends, working on their golf game, or pursuing other interests and hobbies. By partnering with us, they can do all this and more, since they will be guaranteed of having skilled professionals at the helm who will manage their property as if they were their very own. By putting their trust in us and our staff, investors can gain not only the freedom they desire but also peace of mind.

Increased Property Values
When an investor purchases property, the last thing they want is to see the values of their properties decline due to poor maintenance and other aspects that can factor into this area. To make sure this does not happen, property owners need to partner with a property management firm that can suggest and help initiate a variety of programs, including annual preventative maintenance inspections, policies for repairing or replacing appliances, and ways to initiate property upgrades. We can do this and much more since we constantly stay in touch with homeowners about steps they can take to ensure their properties maintain the highest possible values.

 

Authority Property Managemet Redding, CA.

Stress Reduction
Perhaps most of all, partnering with a reputable, experienced, and knowledgeable property management firm such as ours can greatly reduce the stress many investors deal with on a daily basis regarding their properties. While there will always be a problem or two along the way for any landlord, working with us can ensure the problems they experience are few and far between. From making it easy for tenants to pay rent, having maintenance personnel available to handle those late-night emergencies, and much more, our property management services can give investors the peace of mind they need and deserve.

 

 

 

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Redding CA, Property Manager search

Searching For A Great Property Manager? Follow These Tips!

When you have a vacancy at your property, you naturally have a screening process in place to find the right tenant. However, when it comes to finding a great property manager, many people fail to be thorough in their search process, and that is one mistake you definitely don’t want to make.Redding Property Management Google Search

Whether it’s making sure they have the proper background in terms of experience, solid references, or the necessary licensing and certification, these and other factors play a big part in making sure the firm you select to manage your rental properties will be the best of the best. Therefore, if you’re in the market for a great manager for your property, here are some of the best tips we recommend you use during your search.

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Expert Installed Blinds, Rental Properties

Reasons for using an expert for window coverings in your rental properties go way beyond price alone.

 

Huge Thank you to our friend Jerry Bay over at Budget Blinds shares his thoughts and tips on professionally installed blinds for your rental property.

The first thing that comes to mind is child safety. According to the United States Consumer Safety Commission, from 2012 to 2017, there have been 50 fatalities reported to CPSC that were related to window cord strangulation among infants and young children.

As window covering professionals, we know that attaching cord hold downs and cord cleats are the utmost of importance to both your liability as well as ours, CPSC recommends that you replace corded window coverings with cordless ones to prevent this deadly hazard.Window with blinds.

If you are unable to switch to cordless window coverings, follow these safety tips:

  • Educate your tenants to keep cribs, beds, furniture, and toys away from windows and window cords, preferably to another wall.
  • Make sure that tasseled pull cords are as short as possible.
  • Keep all window cords well out of the reach of children. Eliminate any dangling cords.
  • Check that cord stops are properly installed and adjusted to limit the movement of inner lift cords.
  • Continuous-loop cords on draperies and vertical blinds should be permanently anchored to the floor or wall.

After December 15, 2018, products that consumers can pick up in a retail store or order online as ready-made will not contain hazardous cords if the product is compliant with the ANSI/WCMA A100.1-2018 standard. Consumers should look for window coverings that comply with the new voluntary standard.

A STRONG WARRANTY

Quality Window coverings with a strong manufacture warranty will ensure you are not replacing bent up or broken blinds and shades every time a tenant moves out. Our warranty even covers products when damaged by the consumer due to neglect or abuse. This saves you time and money when unforeseen issues arise.

EXPERT FIT AND MEASURING

All window coverings fit differently from product to product and vendor to vendor. Professional consultants expertly measure your windows to ensure your window coverings are fabricated and installed to the best fit and finish possible. Additionally, professionally trained installers work to higher standards than the average “handyman.”

If myself or someone in our office can answer any questions for you. Please give us a call at

 

Jerry Bay  Jerry Bay Budget Blinds Redding CA.

President

Budget Blinds of Redding.

530-226-9027

 

 

 

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Why The Cheapest Property Manager Is A Bad Fit

Budget Property Managers are no good for you.

Cheapest Property Manager & Bad Service

 

As a real estate investor, I want to get the most out of my investment. No matter what type of property I’m purchasing, I want to make sure I can do everything possible to make it a profitable one for many years to come. One of the best ways I can make sure this occurs is to hire a reputable property manager. However, when choosing a property manager, I’ve always found it best to not make a choice solely on price alone. While it’s always nice to have a property manager who will not charge me high prices each month to do an excellent job, making a choice on price alone will be a decision I’ll come to regret every time. To learn more about why the cheapest property manager is usually a bad fit, here are some suggestions based on my experiences over the years.

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10 Tips For Getting Your Redding Rental Property Ready For Spring

Preparing Your Redding CA. Rental For Spring.

 

While we’re tired of having the winter blues, don’t fret. Spring is just around the corner, and with it comes not only warm and sunny days, but also plenty of people shaking off the winter doldrums while searching for the perfect Redding rental property to call home. And because we happen to manage rental properties, we’ve got plenty of work ahead of us before flowers start blooming and potential tenants come knocking. And in our eagerness to rent out each property we manage, we’ll grab our paint brushes, brooms, and other handy-dandy gadgets, because here are 10 of the best tips we’ll find anywhere for getting our Redding rentals ready for spring. (more…)

Who Are the Best Property Managers in Redding, CA.

Best Property Managers Redding CA.

Who Are The Best Property Managers in Redding, CA?   (Reviews/Ratings)

Updated 5/7/2019

Each Year, we, Authority Property management are invited to over 125 homes in Redding, CA. and surrounding area with regards to property owners & their Property Management needs.

Once in a while, we are asked: Who are the best property managers in Redding, CA? “if not your company then who should I hire.”   Now I have to be honest the first time I was asked the question it sent me for a loop, but on my drive home I thought, now that is a reasonable question, who are the best ones?  Trusting a property manager is a huge deal. I don’t want to have my property destroyed. Why not answer and put it out there. (more…)

Considering Hiring a Redding Property Manager?

Considering Hiring a Redding Property Manager? Here are 20 Questions You Should be Asking

 

Are you considering hiring a Redding Property Manager if so here are 20 questions you should be asking up front? When it comes to property management, it’s not as easy as it sounds. Like most professions, it takes people who have a passion for real estate, a unique set of skills, and natural talent for the job. However, because many people view real estate as a way to get rich quick, the field is full of those calling themselves property managers, but are simply people looking to make a quick buck. Thus, you get what you pay for when choosing a property manager. While it may sound impossible to find good property management services or Redding property management company, by asking the right questions, you can separate the pros from the amateurs. To find out how here are 20 essential questions you should be asking during your search.

What Services Do You Offer Clients?
When you’re looking for someone to manage properties, focus on what services they provide. Along with finding a company that can market, lease, sell, and manage properties, you also need to make sure they offer excellent maintenance services, property inspections, and thorough background checks on potential renters. If there is one thing we have learned over the years, it’s that by offering top-notch services to our clients, we have been able to set ourselves apart from the competition and establish ourselves as the company you can trust.

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