I recently moved from San Diego to another city. I thought I'd be able to manage my rental property successfully as an absentee owner, but now I'm having second thoughts. Why should I consider property management?
There are many reasons property owners ask us to manage their properties. The Lahitte Sprague Cos. offer a "Guaranteed Rent" program which provides the owner a steady, hassle-free rent check each month for a term of three years. We also offer a more conventional property management program, where you are more directly informed and involved in the rental, vacancy and maintenance of your property.
- Busy professionals who, because of travel and other schedule conflicts, simply cannot devote the time and energy needed to manage a property.
- Owners who lack management patience, toughness or business and accounting skills. Property owners who have used other property managers but know they need a company more experienced and specialized in single family home property management.
- Those wishing to avoid legal problems associated with rental properties, like discrimination, landlord/ tenant laws, evictions and deposit disputes.
How much will professional management cost me?
Our experience shows that after two to three years our net collected rents are higher than most owners could collect themselves. By maximizing net rental income through higher occupancy or a guaranteed rent, most owners happily conclude that our services cost them nothing! And since we're residential management professionals, we're usually able to secure higher rents while keeping repair and maintenance costs under strict control.
Do you keep complete accounting records and are your fees tax deductible?
Yes and Yes! We combine the latest in computer reporting along with personal reviews of all records concerning your property. At the end of each month you are given a report on your property as well as a year-end summary for tax accounting purposes. Since professional property management is an expense to maintain your investment property, it is an allowable deduction. This is generally not true if you chose to manage your property yourself. Contact your CPA or tax preparation professional for more complete tax and accounting advice.
How do you screen prospective tenants?
The Lahitte Sprague Cos. use the services of specialized screening companies to run two credit reports, search for unlawful detainer actions or judgments, run a telecheck 'bad check' search, verify employment, confirm rental history and contact previous landlords. Along with other information we have collected, we thoroughly evaluate the prospective tenant's qualifications to lease your property.
Do you take care of evictions, delinquent rents and judgments?
Yes. Although our eviction rate is very low, we administer all evictions, delinquencies and judgments quickly and aggressively. Your involvement is minimal.
If I'm unhappy with your service can I terminate my agreement?
Absolutely. We have found that by thoroughly explaining our services, providing customer references and proving our professionalism, the vast majority of our clients are very satisfied. That is why, with notice, you may cancel your agreement with us. We are confident that you will find your relationship with the Lahitte Sprague Cos. successful and long-lasting.
Do you provide references?
For your verification, we will provide the names and phone numbers of any client who can be contacted. A few of our property owners may not be reachable. Some have unlisted phone numbers and we respect their right and request for privacy. Others may be in remote parts of the globe - on a mission in New Guinea, for example. But, we openly encourage our new clients to check us out. We are also members of the San Diego Better Business Bureau. Please feel free to call them as you evaluate top management companies.
I've never heard about the "re-lease, guaranteed rent" concept...?
To our knowledge, ReLeaseCo is the only management company in San Diego offering this unique service. But the re-lease concept is not new. It has been used in commercial real estate for many years and is referred to as a "sandwich lease." We have successfully re-leased residential properties in San Diego since 1983.
What's the next step if I'm interested in having the Lahitte Sprague Cos. manage my property?
Simply contact us We have three numbers - 800-252-5389, 619-292-0805, or fax us at 619-292-0981 or email us at firstname.lastname@example.org