Property management recommendations in San Diego? - SouthWestern U.S

villanelle · 10-24-2009, 02:39 PM

We will be renting out our place when we go to Japan and I am trying to decide if we will have a property manager, or just ask a friend to help out. For now, I am researching companies to see what they offer and just how much of the rent they will take.

Anyone have a recommendation for management company?

Solstice · 10-24-2009, 02:47 PM

I highly recommend a property manager. I don't know any in that area but I'm sure if you google "San Diego Rentals" you will find ReMaxx or something. You need someone who will make sure that your place is PROPERLY cared for. Renting out your home is a dangerous and frightening proposition. No one cares for your home like you do. It's worth the expense to have a professional do it. I have a friend that had a "friend" manage his property. The tenants moved out, never shut off the utilities, never told anyone, did all sorts of damage and now he's stuck with it. He's trying to get it sold but before he can, he has to scrape together the cash to get it repaired. Lesson learned.

Good luck.

villanelle · 10-24-2009, 02:51 PM

We are really close to several bases and I am hoping to get a military tenant. If we could do that, I think I would feel trusting enough that a friend could handle an issues. Maybe I am just being naive though.

We are already going to be losing money every month, and if we have to fork over 10%, it is going to hurt.

Kaymara · 10-24-2009, 11:01 PM

You can use miramaryardsales.com to try and find a military renter. As for property managers I do not personally know of any but http://www.renthomes.com/ is a pretty popular rental company

tbabygirl1399 · 10-26-2009, 02:19 AM

I have over 6 years in the Property Management field and I highly recommend a PM (Property Manager). There is a lot of work that you will have to do. Putting ads in the paper, MLS, or even AHRN.com (which is a military listing done by the military housing offices). Then there are showings, qualifying (pulling credit, checking references, and income verifications). Plus, when you are gone if the person moves out, who will paint, clean up, list the property, and show to the next resident?

Not trying to scare you, but it is a lot for anyone to do and if you are 1000s of miles away then it is so much harder. We (I mean I) rented our home out in Great Lakes and I am so wishing I did not have to call my mom when there is a maintenance issue, or even to collect the rent.

Industry standard is about 10% of the rent, and then you work out the fees for turns (getting it ready for the next resident) and maintenance work.

If you have any questions let me know. I will ask around but most of my contacts are not in San Diego since I just moved here a month ago.
GOOD LUCK!

villanelle · 10-26-2009, 01:43 PM

10% just seems insane, especially if I can find my own tenant. I would happily pay a friend a few bucks to be the point of contact if the tenant needs a plumber, or something like that.

I mean, we are talking probably upwords of $200/mo, to do nothing most months. That's insane! I am sure it is a valuable service and in a town where rents are $800/mo, I am sure 10% is fair, but that just seems like way too much money for what they will likely do, especially if it is a military tenant, which is much less likely to trash the place or stop paying rent.

Kaymara · 10-26-2009, 03:24 PM

I will agree you may really wanna consider property management. If not, even with a military renter, you may be taking a gamble. I do know if we ever had to rent our house I would likely do the management company. I had thought about if we had to, I could have my mom be point of contact etc but even with a military tenant, orders can change, they can end up leaving before a lease is up and they can trash a place (my mom had a set of renters in her condo and 1 was military and her condo was beyond damaged.) and having a rental company can help keep the place occupied and more of a piece of mind

Gonna be pros and cons either way truthfully. Just gonna be a matter of weighing them to find the best fit. And it sounds like you found your answer in not wanting to use one. 10% is the norm tho I have found. Maybe try your friend and if it comes bacl to burn you, go for a company with the next set or something.

thejigsup · 10-26-2009, 03:41 PM

Originally Posted by villanelle

We are really close to several bases and I am hoping to get a military tenant. If we could do that, I think I would feel trusting enough that a friend could handle an issues. Maybe I am just being naive though.

We are already going to be losing money every month, and if we have to fork over 10%, it is going to hurt.

Seriously, listen to Solstice. If you ask a friend you are setting yourself up for trouble in so many ways. Most property managers take 10% which is not much more than you should pay a friend. They know what to look for, how to run the background check on potential renters, how to evict if necessary. Plus they are accountable to you without a strain on your friendship. It is all business.

DH and I have rented our Jax. Florida house out for 5 years now and though we entertained using a friend originally, I am Oh So relieved we did not. We have had more headaches and repairs than you would care to know about. I'm glad I had someone I could just say, "do this, by this date" and count on it getting done.

villanelle · 10-26-2009, 05:23 PM

Gah. Maybe we just need to suck it up. $200+ a month just seems like so very much money for what we'd be getting. OTOH, the last thing I need is to try and deal with drama while I am on the other side of the world, so I guess I at least need to look into it.

Conveniently, 3 PM adds appear at the bottom of this thread, and since no one has a personal recommendation yet, I suppose I will start there!

tbabygirl1399 · 10-26-2009, 10:31 PM

With the market being the way it is.... you could ask if they would take 5% and see if they will take it. It never hurts to ask!!! Nothing is set in stone, it is a contact you will sign, so I would ask if maybe you find the renter if they will take only 5% a month!!

HTH

10-24-2009, 02:39 PM	#1 (permalink)
villanelle Senior Member Join Date: Aug 2009 Posts: 420 Classifieds: (0) Activity: 54% Longevity: 4%	Property management recommendations in San Diego? We will be renting out our place when we go to Japan and I am trying to decide if we will have a property manager, or just ask a friend to help out. For now, I am researching companies to see what they offer and just how much of the rent they will take. Anyone have a recommendation for management company?

10-24-2009, 02:47 PM	#2 (permalink)
Solstice He's My Love Monkey!!!! Join Date: Jun 2009 Location: Pearl Harbor, HI Posts: 2,926 Classifieds: (0) Activity: 94% Longevity: 6%	I highly recommend a property manager. I don't know any in that area but I'm sure if you google "San Diego Rentals" you will find ReMaxx or something. You need someone who will make sure that your place is PROPERLY cared for. Renting out your home is a dangerous and frightening proposition. No one cares for your home like you do. It's worth the expense to have a professional do it. I have a friend that had a "friend" manage his property. The tenants moved out, never shut off the utilities, never told anyone, did all sorts of damage and now he's stuck with it. He's trying to get it sold but before he can, he has to scrape together the cash to get it repaired. Lesson learned. Good luck. __________________

10-24-2009, 11:01 PM	#4 (permalink)
Kaymara Behind every keystroke is a real person Join Date: Jan 2004 Location: Somewhere over the rainbow Posts: 27,350 Classifieds: (7) Activity: 43% Longevity: 99%	You can use miramaryardsales.com to try and find a military renter. As for property managers I do not personally know of any but http://www.renthomes.com/ is a pretty popular rental company __________________ Surviving deployment #5

10-26-2009, 03:24 PM	#7 (permalink)
Kaymara Behind every keystroke is a real person Join Date: Jan 2004 Location: Somewhere over the rainbow Posts: 27,350 Classifieds: (7) Activity: 43% Longevity: 99%	I will agree you may really wanna consider property management. If not, even with a military renter, you may be taking a gamble. I do know if we ever had to rent our house I would likely do the management company. I had thought about if we had to, I could have my mom be point of contact etc but even with a military tenant, orders can change, they can end up leaving before a lease is up and they can trash a place (my mom had a set of renters in her condo and 1 was military and her condo was beyond damaged.) and having a rental company can help keep the place occupied and more of a piece of mind Gonna be pros and cons either way truthfully. Just gonna be a matter of weighing them to find the best fit. And it sounds like you found your answer in not wanting to use one. 10% is the norm tho I have found. Maybe try your friend and if it comes bacl to burn you, go for a company with the next set or something. __________________ Surviving deployment #5

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10-24-2009, 02:51 PM	#3 (permalink)
villanelle Senior Member Join Date: Aug 2009 Posts: 420 Classifieds: (0) Activity: 54% Longevity: 4%	We are really close to several bases and I am hoping to get a military tenant. If we could do that, I think I would feel trusting enough that a friend could handle an issues. Maybe I am just being naive though. We are already going to be losing money every month, and if we have to fork over 10%, it is going to hurt.

10-26-2009, 02:19 AM	#5 (permalink)
tbabygirl1399 Member Join Date: May 2009 Location: Sunny San Diego Posts: 95 Classifieds: (0) Activity: 13% Longevity: 8%	I have over 6 years in the Property Management field and I highly recommend a PM (Property Manager). There is a lot of work that you will have to do. Putting ads in the paper, MLS, or even AHRN.com (which is a military listing done by the military housing offices). Then there are showings, qualifying (pulling credit, checking references, and income verifications). Plus, when you are gone if the person moves out, who will paint, clean up, list the property, and show to the next resident? Not trying to scare you, but it is a lot for anyone to do and if you are 1000s of miles away then it is so much harder. We (I mean I) rented our home out in Great Lakes and I am so wishing I did not have to call my mom when there is a maintenance issue, or even to collect the rent. Industry standard is about 10% of the rent, and then you work out the fees for turns (getting it ready for the next resident) and maintenance work. If you have any questions let me know. I will ask around but most of my contacts are not in San Diego since I just moved here a month ago. GOOD LUCK!

10-26-2009, 01:43 PM	#6 (permalink)
villanelle Senior Member Join Date: Aug 2009 Posts: 420 Classifieds: (0) Activity: 54% Longevity: 4%	10% just seems insane, especially if I can find my own tenant. I would happily pay a friend a few bucks to be the point of contact if the tenant needs a plumber, or something like that. I mean, we are talking probably upwords of $200/mo, to do nothing most months. That's insane! I am sure it is a valuable service and in a town where rents are $800/mo, I am sure 10% is fair, but that just seems like way too much money for what they will likely do, especially if it is a military tenant, which is much less likely to trash the place or stop paying rent.

10-26-2009, 05:23 PM	#9 (permalink)
villanelle Senior Member Join Date: Aug 2009 Posts: 420 Classifieds: (0) Activity: 54% Longevity: 4%	Gah. Maybe we just need to suck it up. $200+ a month just seems like so very much money for what we'd be getting. OTOH, the last thing I need is to try and deal with drama while I am on the other side of the world, so I guess I at least need to look into it. Conveniently, 3 PM adds appear at the bottom of this thread, and since no one has a personal recommendation yet, I suppose I will start there!

10-26-2009, 10:31 PM	#10 (permalink)
tbabygirl1399 Member Join Date: May 2009 Location: Sunny San Diego Posts: 95 Classifieds: (0) Activity: 13% Longevity: 8%	With the market being the way it is.... you could ask if they would take 5% and see if they will take it. It never hurts to ask!!! Nothing is set in stone, it is a contact you will sign, so I would ask if maybe you find the renter if they will take only 5% a month!! HTH