santa clarita: Don’t Trip Over Dollars to Pick Up Pennies - 03/15/10 06:21 PM
I was reading some Tweets the other day on the landlord forum.  One Tweet in particular stood out.  Essentially, the individual, who was a tenant,  had just found out that the landlord was charging him for the cost of heat.  His Tweet asked, among other superlatives, “Do you know how expensive heat is?”
I almost fell off my chair laughing.  Yes, I know how expensive heat is.  That’s why I never pay for utilities in my rentals. It is that simple. I never invest in a property that does not have separate utility meters for each unit. Every tenant needs to … (2 comments)

santa clarita: Location, Condition, and Upgrades - 03/08/10 02:03 PM
Three important considerations for your next rental property are location, condition, and upgrades.  Rental property is not immune to the location, location, location mantra of real estate.  In fact, it may be more important with your rental.  For example, you may want to avoid buying a rental on, or backing to, a busy street.  When the tenant goes into the backyard or opens their windows at night, they do not want to hear the roar of traffic.
Something else that is often overlooked with investment properties is future maintenance.  If the exterior is brick or stucco, that might require less long-term … (0 comments)

santa clarita: Just Doing My Job - 03/02/10 02:10 PM
Just got finished with our team meeting.  I noticed one of our rental properties, which has been listed for a little over seven days, received very little interest over the last week.  When I enquired further, I found out that the price set on the property was $200 over market.  “How did that happen?” I demanded.
 
“The owner wanted to try for more money,” was the response from my agent.  “In fact, the owner wanted to list it $500 over market, but I talked her down.”
 
This situation is not unusual for first time landlords.  They are convinced that … (0 comments)

santa clarita: Five Reasons Why Property Owners Need to Use the MLS When Renting - 02/11/10 11:18 AM
The ability to quickly rent out a home is part price, part condition, and part marketing.  Today, I want to focus on marketing.  Specifically, I want to focus on the Multiple Listing Service (MLS).
 
In most of the country the MLS is the go to source for marketing a property for rent.  However, in my market of Santa Clarita, California, there seems to be a small hesitation in the property owner’s mind as to the benefits of the MLS.  Here are my top five reasons for using he MLS.
 
The MLS feeds Realtor.com, and Realtor.com in turn syndicates this … (4 comments)

santa clarita: A Versus B - 12/09/09 05:37 PM
A professional property manager will bring you quality tenants; and attracting good qualified tenants is the name of the game!  Moreover, a good tenant is more likely to become a long term tenant.  Having a long term tenant reduces the vacancy rate.  And reducing the vacancy rate increases your profit dramatically. 
At SCV Leasing we believe that there are two types of tenants out there:  "A" tenants and "B" tenants.  "A" tenants are motivated, ready to move, and they are qualified.  They have good credit, stable jobs, reserve funds, and a security deposit.  "A" tenants are less likely to try and … (1 comments)

santa clarita: I’m Not Craigslist, and This Isn’t Let’s Make a Deal - 12/02/09 11:44 AM
We had an owner that had a large, lovely, home.  The problem was, they had the house stuffed full of their possessions.  The "office" was piled literally to the ceiling with paper.  The dining room, which normally seated eight, was occupied by a huge table and set for sixteen.  The master bedroom was completely filled with furniture.  Each and every nook and cranny of that house was filled.
Every prospective tenant we took through there couldn't get passed the owner's "stuff."  "I don't understand," said the exasperated owner, "don't they know I can have all this stuff out of here in … (0 comments)

santa clarita: Me Love You Long Term - 11/20/09 11:28 AM
Our normal lease term is 1-year.  Sometimes we are approached and asked if the owner would consider a multi-year lease at a reduced rate.  I'm not against a multi-year deal; but what assurance do you have that the tenant is going to stay in the home for the entire term.  I would advise that if you do go for a reduced rate, on a multi-year contract, that you include some language in your contract like:
"Landlord and Tenant have entered into an agreement wherein the original rent amount of X has been reduced to Y based on a longer time period … (0 comments)

santa clarita: Common Pitfalls of the Self-Managed - 11/17/09 10:27 AM
If you have ever considered managing your own property, please take with you the following list of pitfalls that many self-managed landlords fall into.  If you need advice on any of them, please call us.  We will always be glad to consult with you at no cost.
Not running their rentals like a business. Not fully screening applicants. Not reviewing State landlord/tenant laws. Failing to have a written agreement. Hiring the wrong contractors and repair people. Not enforcing late rent policies. Not inspecting your property on an annual basis and automatically replacing smoke alarm batteries and filters. Entering a property without … (1 comments)

santa clarita: I Need Another Full-Time Job Like I Need Another Hole in My Head! - 11/12/09 11:46 AM
I have three scenarios for you to consider today.  And they aren't farfetched; they actually happened to real property owners.
Its 2:00 a.m. in the morning and your phone rings.  It's your tenant.  He was awakened by a dripping faucet and he wanted to let you know right away.  He was up, so why shouldn't you be? Your tenant has been in your rental property for 6-months.  Now he has ants and he wants you to spray for them.  He starts talking about the property being unfit to live in, quoting the health laws, and talking about not paying rent until … (1 comments)

santa clarita: Hey Tenants, Stop Wasting Your Valuable Time! - 11/05/09 05:10 PM
Your first experience finding a rental was most likely in you early 20s, where the criteria was price, proximity to university or work, and price. It involved a lot of time in the classified section of the local newspaper and phone calls, which may or may not have allowed you to see the properties in a timely manner. But you were young and had the time.
But as we all mature, our criteria mature, making the search more challenging. Your criteria may now involve proximity to good schools, two work locations, transportation networks, safe neighborhoods, allowance of pets, as well as … (0 comments)

santa clarita: Is There Really Security in a Month-to-Month? - 11/03/09 04:31 PM
We have recently been approached by various owners that want to rent their properties out on a month-to-month basis.  Most of these owners have been "stung" by previous tenants.  It's possible that the tenant wasn't properly screened; but it's also possible that bad things just happen.  Either way, the owners think that a month-to-month arrangement would work in their best interest.   The theory goes, if I don't like them, then I can get rid of them.
From a professional standpoint, here are a couple of things to consider.  First, finding a quality tenant is time consuming. We advertise, show property, prepare … (0 comments)

santa clarita: Water, Water, Everywhere and Not a Drop to Drink - 10/13/09 02:04 PM
Two days in a row, two water leaks in a row, both in the ceilings of units we manage.  Both issues also in condominium/townhome type structures.  The HOA does not typically cover anything inside the units, so what happens next?
First, be thankful that you hired a professional property manager to handle this situation or you would be living the headache of the self managed.  Second, make sure that you have a home warranty plan in place well before your tenant takes possession. 
One of the homes had such a plan, but the owner delayed purchasing the plan until the tenant … (0 comments)

santa clarita: Getting Into the Investors Mindset - 10/09/09 04:45 PM
With a general decrease in home values in our marketplace, many owners are renting out their homes because they "can't afford to sell."  As rental property owners, when we decide to rent out our homes, we need to reset our minds to that of an investor.  An investor is more detached from the asset, and the home you are renting out is an asset.  The asset needs to be attractive to the potential renter. 
As homeowners we often overlook many of the smaller items.  Perhaps the paint is a little old, maybe a drawer in the kitchen gets stuck, or if … (9 comments)

 
Scott Taylor (SCV Leasing, Inc.)

Scott Taylor

Santa Clarita, CA

More about me…

SCV Leasing, Inc.

Address: 27720 Dickason Drive, Ste 151, Valencia, CA, 93010

Mobile: (661) 476-0163

Office: 661(294) 850-0101

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog