A.D. Cantelmo Property Management Company
Our Business is Property Management in Orange County California
Getting a Property Ready to rent
When doing a final walk through recently, I was asked by the
outgoing Tenant how I thought the property looked and my response was that it
was rentable. He took that as an endorsement of his getting his entire deposit
back and was upset when he noticed my denotations of things that should have
been taken care of but were not. He though that my saying the property was
rentable meant that he left it the way he received it and my statement meant no
such thing.
What is rentable?
In my business of Property Management in Orange County Ca. I
get into debates with my clients all the time about how much money to put into
a rental property. Many think that making the property perfect is key to
getting the most rent, but I disagree. Getting the most rent has to do with
things like school district location or being close to recreation or great
views. Yes people want to live in a nice place and Landlords should always keep
their property clean and safe, but always remember that renting properties is a
business and every dime you spend, will take you time to recoup. Let’s look at
an example:
If your property receives $2000.00 in rent per month and you
spend $1000.00 to get it ready to rent, it will take you ½ month to recoup what
you spend and you can add every other dime you spend. Many times
my clients are breaking even on the property they are renting or just barely making
a profit after expenses are paid and removing another $1000.00 really hurts the
bottom line. This is where my Property Management service really kicks in and I
use my experience not only as a Property manager, but as a contractor that
understands how much things cost.
What does a Property really need?
It’s easy to look at a property and say it needs this, or
that and forget that each of these repairs or improvements cost money, what you
have to think about and in my business of Property Management, it is my
responsibility to address, that many of these repairs or improvements if not
necessary for safety are not necessary in order to rent the property at the
price my client wants.
Property Management in Anaheim Ca.
Fixing up a property is a good thing as long as the Landlord
has the financial ability to do it and understands that it will take time to
recoup the costs. I always recommend, if possible for a landlord to take a
percentage of each month’s rent and put it aside for repairs when needed. I
have to caution my clients about making a property perfect for each new Tenant
and this also stresses the importance of keeping good Tenants for long periods
of time in order to maximize profits. The longer a Tenant is in a property, the more profit a Landlord will have the ability to make.
A.D. Cantelmo Property
Management Service Specializes in Property Management in Orange
County Ca.