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Tax Deductions for Landlords

Take Advantage of Your Tax Deductions as a Landlord

deductions for landlords Every year we are required to file taxes, and every year, too many landlords pay more taxes than they have to on their rental property income, all because they simply do not take advantage of the tax deductions that are available to them as landlords. As a landlord, if you are looking to make a profit off your rental properties rather than lose money, it is vitally important that you take advantage of the tax deductions that are available to you every year when you file your taxes. As property managers in Redding who have over twenty years of experience managing properties all over Shasta County, we would like to help you make more money by making you aware of what tax deductions you qualify for every year as a rental property owner. (more…)

Benefits of a Home or a Apartment

The Benefits of Living in a Rental Home or a Rental Apartment

Benefits of a Home verses Apartment

 Are you currently trying to find a rental home or an apartment to move into? Are you wondering what the benefits of each living space are and which living space would be more beneficial for you? Renting a Home versus an Apartment are very different and mean different responsibilities for you as a tenant.  If this is you, we would love to help you discover whether a rental home or a rental apartment would be a better move for you. As property managers in Redding who have over twenty years of experience managing properties in Redding and Shasta County, we would like to help make you aware of what we believe are the benefits of living in a rental home versus a rental apartment.

Space

There is no doubt that a rental home has more space than a rental apartment. Depending on how many furniture pieces, articles of clothing, or kitchen dishes and cookware you have, that will be a big factor in determining whether a rental home or apartment would be more beneficial for you. Rental homes often have more room for storage, garage space, attic space, and bigger kitchen storage.

Privacy

Another benefit of living in a rental home versus a rental apartment is privacy. In a rental apartment, you will most likely be in close proximity to surrounding neighbors, and there is no guarantee that they will be quiet neighbors. Living in a rental home provides space and privacy from neighbors and noise.

Customization

Depending on how decorative you are, this will also help you to determine if you would rather live in a rental home or a rental apartment. Rental apartments often have strict regulations when it comes to decorating and customizing your unit. You most likely will not be allowed to paint the walls, hang items on the walls with nails, or change kitchen appliances. This can often make your apartment feel more like a temporary living space rather than a home. However, in a rental home, your landlord may give permission for certain customizations when asked and allow more freedom when it comes to decorating and make the house feel more like your home. If you are trying to find somewhere to live for several years that will feel like home, a rental home might be a better option for you.

Compare Expenses

A huge part of renting a home or apartment is determining what your budget is when it comes to paying rent and utilities. The cost of living in a home or apartment can be a huge factor in determining what decision you want to make for yourself. Some houses can be pricey when it comes to rent rates, but some apartments can be just as pricey. You would be surprised at some of the nice houses that you can rent that cost the same or less than a rental apartment. Do your research and take your time searching for the right place that meets all of your housing needs and is within your budget.

If you are a tenant and would like more information to help you discover what move might be best for you, or if you are a landlord and would like someone to help you manage your rental property, we would love to help you! We do property management in Redding and Shasta County and would love to serve you in any way we can. Feel free to give us a call at (530) 410-6085.

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Yearly Inspections

The Need For Yearly Inspections

When it comes to owning and managing a rental property, it is vital that you as a landlord do walk-through inspections of your rental property. It may not seem like that big of a deal at the moment, but when you think about it in the grand scheme of things, it is.Walk-Through Inspections rental property

Think about your own house. If you don’t keep things clean, stay on top of regular maintenance, or take care of damages and repairs, your home will eventually start losing equity and value. This will ultimately lead to a loss of profit for you when you try to resell your house in the future. In the same way, not doing yearly inspections on your rental property can ultimately lead to a decrease in the equity and value of the property. As a landlord doing yearly inspections allows you to keep up on any owner maintenance that needs to be done to keep the property in top condition, increasing your opportunity for top rental rates and more profit. As property managers in Redding who have over twenty years of experiencing managing properties all over Redding and Shasta County, we would love to help you by giving you a list of things to look for during walk-through inspections of your property. (more…)

Deductions from Deposits

Common Reasons Why Landlords make deductions from Deposits

When you move into a rental house or apartment, your landlord will most likely ask you for a deposit before you move in. The deposit amount is usually two to three hundred above the amount ofRun Down Rental Property a monthly rent payment. The reason why landlords ask for a deposit up front is so that they can have a safety net and some money to fall back on if any damages are done to the property or the property is not cleaned properly when tenants move out. If you are moving into a rental and want to ensure that you get your deposit back at the end of your tenancy, you can set yourself up well by gaining information on and being mindful of what could cause a landlord to make deductions from your deposit. First and foremost always fill out your move-in check-in list and take pictures.  Your move in check in list is your foundation for your move out and a record of the condition of the property at the time of your move in.  As property managers in Redding, we would like to provide you with some of the most common reasons why landlords end up withholding deposits from tenants.

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Habits of a successful Property Manager

7 Successful Habits of a Property Manager

Are you new to the property management business? Have you been in the property management’s business for several years, but would like more knowledge and insight into how you can become a better property manager? As property managers in Redding who have more than 20 years of experience, we not only understand what it is like to be new to the property management industry, but we have also learned how to grow and develop and become better property managers with each passing year. We would like to offer you 7 successful habits that we feel great property managers have!

  1. Communication – Clear and consistent communication is key to happy tenants and happy owners. Great property managers communicate in clear and consistent ways with tenants and owners in such a way that both the tenants and the owners feel safe and secure.

  2. Experience – The more you manage properties, the more experience you will gain as a property manager and will be able to apply that experience to the properties you will manage in the future. Having hands-on experience will increase your credibility as a property manager as well as your customer base.

  3. References – When landlords are looking into hiring you to manage their properties, they will want to see that people have had great experiences having you as a property manager. With how often people check reviews before they purchase these days, offering testimonials and references to potential clients can increase their chances of hiring you.

  4. Technology – Great property managers use technology to their advantage! Embracing technology and using it to your advantage can help you organize the properties that you are managing, promote yourself as a property manager, communicate your values as a company, build relationships with your audience, and gain a greater customer base.

  5. Tenant screening – As a property manager, landlords are trusting you with the responsibility of finding great tenants that will not damage their properties. Because of this, it is vital that you screen potential tenants so that the odds of filling the rental home or apartment with tenants who will not end up paying the rent on time or will end up damaging the property are lessened.

  6. Interaction with tenants – The way that you interact with your tenants and maintain your relationships with them can make or break you as a property manager. It is important to have open, respectful, and timely communication with your tenants. It is also important that you take care of repair and maintenance issues in a timely fashion.

  7. Consistency – Consistency is the key to being a great property manager. This means being consistent in your communication and in staying on top of the tasks that you are managing for landlords. Landlords want a property manager who is available and consistent in their communication and services. Consistency builds trust and landlords want a property manager that they can trust.

    Miniature house and keys being presented by female estate agent

If you would like more information on how you can become a better property manager, feel free to give us a call at Authority Property Management! If you are a landlord who does not want to deal with the potential stress that can come with taking care of critical tasks for your property or maintaining relationships with your tenants, you can hire a property manager to take those critical tasks and tenant relationships out of your hands. A property manager will handle the communication between you and your tenants as well as bring resolution to any conflicts that come up between you and your tenants.  Authority Property Management would love to serve you! Feel free to give us a call at 530-410-6085.

 

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Prepare Properties for Rent in Redding CA.

How to Prepare Your Property for Rent in Redding CA

If you have rental property in Redding, CA a burgeoning city and the seat of Mt Shasta in Shasta County you stand a great chance of making a good rental income. With a population of nearly 90,000, the City of Redding is located on the Sacramento River and is a virtual magnet for families, young adults and retirees. However, you will need to know how to prepare your rental property for rent in Redding CA. (more…)

Get Your Tenants To Pay Rent On Time

7 Effective Tips To Get Your Tenants To Pay Rent On Time

Real Estate can be a very profitable business. However, it requires some sort of professional management or property manager to be able to manage the cash flow well and enjoy the profit that follows. It can also be a real hassle, after all, you are dealing with humans — and us as humans can tend to be very difficult. As such, when it comes to paying rent, not all your tenants will want to pay on time. Some will like to intentionally default on their payments while others may forget or be unable to pay due to one factor or another. There are still others who prefer to receive a light reminder from time-to-time before they will pay their rents. (more…)

Tips for Landlords on what a security deposit may be used for

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 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…)

Benefits of Having a Property Management

Having a Property Management Company for your Redding rentals. 

Whether you have purchased a rental property as an investment or have moved on to a second home, having a rental property can be a great way to earn extra income, increase equity, and take advantage of tax deductions. Who wouldn’t want to sit back and collect rent while someone else pays the mortgage? Many people think owning rental properties is an easy way to earn passive income. Unfortunately, this usually isn’t the reality.

Having a property manager makes it possible to enjoy the benefits of a rental property without the stress of actually being a landlord. Finding good tenants is one of the most important steps when renting homes and apartments. At Authority Property Management, we will do our best to find a tenant that will care for the property, pay their rent on time, and stay long-term. Screening tenants can be a difficult process. Proof of income, references, background checks and credit checks are all part of the screening process. We do our best to screen tenants while meeting all of the requirements of California rental property law. California rental laws can change on a yearly basis, we will find the best tenants while following all the proper legal guidelines.Authority Property Management Green Door

Finding good tenants is a huge piece of the puzzle, but before that can happen the property needs to be marketed and shown to prospective tenants. We have access to online and other marketing channels that a small mom-and-pop landlord may not have access to. We will make sure your rentals get in front of the most potential prospects. The rental process also requires knowledge of California tenant-landlord law. Leases need to be signed, paperwork needs to be dispersed, and rent and deposits need to be collected. Let us take care of the legal and record keeping aspects of renting out your property. Having someone like us take care of the entire rental process can save time and headaches.

Having a property management company can alleviate stress. Two of the most stressful aspects of being a landlord are collecting rent and taking care of repairs. Our property management company will handle these two unpleasant tasks for you, so you don’t have to stress. Having a property management company as a middleman who takes care of unpleasant tasks like asking for unpaid rent is a wonderful thing. No landlord wants to be in the awkward position of asking a tenant to pay their rent. Our professional property management company will handle this for you. We also handle unpleasant, legal procedures that go along with rent collection. If we have to we will serve three-day notices and take care of evictions. These are things no small landlord wants to deal with.

The other stressor that is the bane of most landlord’s existence are the repairs. Ironically, repair calls usually happen on a Friday night or a holiday weekend. No one wants to be woken up in the middle of the night Green Door And Window Authoritypm.combecause a tenant’s toilet is clogged. We not only handle repair calls, but we also have relationships with vendors and service people who can take care of the repairs. We also keep full records for tax and accounting purposes. Having a rental property is a wonderful way to earn extra income, but there are a lot of time and legal obligations that go along with caring for the property. A great way to enjoy the benefits of a rental property while avoiding the headaches is to let a quality property management company take care of your property services. Authority Property Management is located in beautiful Redding, California. We will meet all of your needs for Property Management Redding CA. We would love the opportunity to discuss our services. Give us a call at 530-410-6085

 

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Rental Property and Aggressive dog breeds

Trouble finding a Rental Property that will accept your Dog?  Doberman_rental property

Are you having trouble locating a rental property that will accept your dog? Finding a rental property is difficult enough, finding one that accepts pets can complicate the situation.  If you have a pet that is on the Aggressive Breeds, list your search for a rental property becomes even more difficult.  Insurance Companies that insure Home Owners and Renters are becoming very picky about which dog breeds they will insure and which they will not.  Each Insurance Company creates their own list.  The list has no specific scientific criteria required for a dog breed to be blacklisted; it is usually based upon the Insurance Company’s opinion of the risk the dog breed presents. Honestly, it is possible that a simple report in the media regarding a breed may be enough to cause an official at an insurance company to decide that a breed is dangerous.  Insurance Companys should only be allowed to blacklist a dog based on the individual dog and if the dog has a known history of being aggressive or if the dog has been officially designated as dangerous.

The following is a list of dog breeds that consistently are found on most insurance companies blacklist:

  • Pit Bull Terriers
  • Staffordshire Terriers
  • Rottweilers
  • German Shepherds
  • Presa Canarios
  • Chows Chows
  • Doberman Pinschers
  • Akitas
  • Wolf-hybrids
  • Mastiffs
  • Cane Corsos
  • Great Danes
  • Alaskan Malamutes
  • Siberian Huskies                                      great-dane agressive breed dog

Insurance Companies evaluate the risk, the financial risk and possible claims their company may have to pay out.  Claims associated with dogs can get very costly.   If your insurance company does not know you have a “dangerous” dog and they find out, your policy may immediately be canceled or non-renewed.

Some suggestions I have heard to help a renter with a dog that is on the aggressive breed list is for a renter to get dog liability insurance. Dog liability insurance can be very reasonable and covers bodily injury and property damage a pet may cause. Most property owners or landlords are worried that they will be sued if their tenant’s dog bites or hurts another person or animal.  Then there are the questions is your dog a service animal or for emotional support? According to the Fair Housing Amendments Act of 1988, Section 504 of the Rehabilitation Act of 1973, and Title II of the Americans with Disabilities Act, people with disabilities (whether these disabilities are visible or can’t be seen), have the right to keep emotional support animals, even when a landlord’s policy explicitly prohibits pets.  I have also heard of tenants taking their dogs to dog obedience schools and providing resumes for their pet and references from people that have interacted with their dog.

Property owners or property managers want to rent to responsible dog owners, they make great tenants and usually stay longer in one place to keep their whole family together.  Happy house hunting!!!!!

 

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