Hiring a Property Manager
We treat your property as if it were our own
We don’t get paid until you do
Peerless Management treats your property as if it were our own. We don’t get paid until you do, and we will market your property, screen your tenants and maintain your property with the highest standards. Understand the benefits of hiring a professional property management company. It matters!
- The Benefits of Hiring a Professional Property Manager
- Common Pitfalls of the Self-Managed Property
- Property Management Fees
- Tenant Screening
- Making Your Home “Rent Ready”
- Security Deposits
- Request a Proposal
Familiarity with Rental Laws
- Especially in California, where the tenant/landlord laws almost always favor the tenant, you have to know and understand the day-to-day implications of real estate laws, fair housing laws, and business laws as they apply to lease contracts, non-payment, move-in/move-out procedures, notices, advertising, etc. Any uncrossed “t” or un-dotted “i” can cost you thousands in damages and lost rent. Peerless Management understands this and keeps on top of the latest legal developments so you don’t have to.
- We deal with rentals, owners, and the different suburbs and neighborhoods of San Diego every day. We are very tuned in to slight changes in market rents and to the current supply and demand. Whether you’re renting your house out for the first time or whether you’ve been a client for twenty years, Peerless Management will perform an annual rental survey on your property to make sure you are maximizing your investment property return.
Relationships with Vendors
- Peerless Management has 24 hour access to many vendors such as plumbers, contractors, and handymen. We intentionally do not have an in house maintenance crew in order to save our clients money. We instead have strategic alliances with outside vendors who give us volume discounts and who seek to satisfy by doing a better job in order to keep our business. We also have credit accounts established with many vendors, so that we don’t have to call you in the middle of the night for a credit card number for a clogged drain. We find this to be a much better model for our owners since there are no incentives for us to feed a maintenance division with markups and additional salaries.
Access to a Large Tenant Pool
- Due to the enormous amount of advertising we do. Peerless Management actually has a waiting list of applicants. We use this to our advantage and keep a running file of people looking for a specific type of property.
- Not running their rentals like a business.
- Not being familiar with CA State rental laws as well as Federal HUD guidelines and fair housing laws.
- Failing to have a written agreement.
- Poor bookkeeping.
- Not maintaining the property.
- Not handling deposit refunds as per state law.
- Not presenting a “Rent-Ready” home. A property that is in repair or in need of repairs is difficult to rent. Although the owner can picture what it will look like without the dirty walls, torn carpet, and broken blinds, the applicant can not usually see past all that. A general rule of thumb for showing rentals is to have the unit in the same condition you would ideally like to see it in when the tenant moves out. Some items include being spotlessly clean throughout, no holes in the walls, smooth paint, fresh smelling carpet, a tidy yard, and all systems working including A/C, heater, toilets, sinks, showers, light fixtures, etc. Our staff at Peerless can help you to get your unit rent ready in a timely fashion with our vast list of affordable contractors and handymen.
- Improperly screening tenants. Granted, Peerless goes overboard on our tenant screening to protect you, but we have seen self-managed owners who have not so much as asked for ID or asked for proof of income.
- Overpricing their property. The danger of overpricing your property is time. As we all know time is money. Click here for an example.
- Scheduling lease endings during the holidays. People do not generally enjoy moving, but they especially dislike moving during the holiday season. Simply writing the lease a little shorter or a little longer to avoid the holiday “dead-zone” makes a big difference.
- Peerless uses various avenues for marketing your property.
- Included free with your service are the following:
- the Rentals-SD.com website
- various free sources such as Craigslist & Back Page
- signage on your property for driveby traffic
- personal marketing to our standby pre-qualified tenants who have submitted applications and
are waiting to find a new home.
- various military websites
- referrals from other property managers and listing services
- MLS regional multiple listing service
- we also have access to many other sources for the harder-to-rent properties such as farm houses, etc.
- Tenant screening is critical to finding you a good tenant
- The better quality tenant we place in your property, the longer the retention rates will be, the lower the turnover costs in between tenants, and the less the delinquency and eviction rates will be.
- Our tenant screening system is one of the best in the business. We thoroughly check for the following items:
- Credit check
- Public Records Search
- Driver’s License Verification
- Fraud Search
- Unlawful Detainer / Eviction Search
- Rental History Verification
- Employment & Income Verification
- We also have the ability to run a criminal background check, if needed.
- Finally, after all this, we will make a surprise visit to their current residence to take a look at general condition and upkeep.
There are some things you can do to make your home more “rent ready” before you have it put on the market; this is important for obtaining top-dollar in today’s competitive marketplace. Some items include:
- Fresh paint, touchup paint on top of touchup paint doesn’t show well
- Fresh carpet or professionally clean the existing carpet
- Updating old cabinets or appliances
- Replacing dead spots on the lawn and killing and pulling weeds
- Making sure everything works (ie. electrical, heating, a/c, etc)
- Fix or replace missing or torn screens
- Have the unit professionally cleaned, it’s a lot cheaper than you think, and they will clean things you never thought of cleaning.
- Have the unit completely vacant. It’s a psychological barrier. People cannot visualize themselves in a unit with other people’s belongings present.
- We always require a security deposit from your tenant.
- The security deposit is used to make repairs to the property, if any are required, at the time of move-out.
- The minimum security deposit we will collect is equal to one month’s rent. The maximum allowable deposit per CA State law is twice the rental amount.
- The security deposit received from your tenant will be held in our Trust Account until your tenant moves out.
|East County Chamber Member|
|Greater San Diego Chamber of Commerce Member|
|National Association of Residential Property Managers Member|
|San Diego Association of Realtors Member|
|We abide by all Fair Housing Laws. Find out more here|
Jim and his team at Peerless took great care of our place whenwe were deployed to Houston. They interviewed our renters and were always proactive about maintenance.