With business booming around the Universal City area, people have been flocking from around the country to take advantage of the ever-increasing San Antonio business market. Jobs are bringing people to the Universal City area, and a majority of them are they looking to lease a home rather than an apartment. Many homeowners in Universal City have been taking advantage of the current housing market by investing in themselves. They become landlords and manage their property instead of listing it and selling. These property owners are taking advantage of their assets and using their vacant properties to generate revenue instead of selling in a questionable real estate market.
Allowing others to rent your home is a mutually beneficial situation. Your leaseholders get to live in a nice neighborhood, in a cozy home, close to work without the woes of apartment living. There are plenty of well-maintained flats available in the area—but not as many professionally maintained rental homes. Where are you in your landlord’s journey? Whether you’re a seasoned expert or just getting started, check out our Universal City property management tips!
1. Your Marketing Matters
While marketing your property in the local “home finder” magazine may sound like a good idea, consider advertising online to reach a larger tenant pool. Use a property listing checklist from the experts to help make your listing sparkle. Your listing is the first chance you have to reach potential tenants, so make it count!
2. Screen Tenants Carefully
Every successful landlord knows that the health of your investment depends on finding and keeping the best tenants. Develop screening criteria and stick to it to screen suitable renters, check client references, and launch background checks. This is one area where relying on a third party—like a reliable property manager—can protect you as a landlord. If you ever feel unsure, always consult with your legal counsel on safe steps to proceed forward.
3. Evictions Require Experts
Unfortunately, evictions can sometimes be necessary for a landlord. You will need to check with your local landlord-tenant laws to see what would be required in an eviction scenario. Evictions can be nerve-wracking, and you want to know all your bases are covered! Seeking legal counsel when considering an eviction is crucial.
4. Offer Multiple Means of Payment
Rent can come in many forms: cash, card, online payment, or check. The method of delivery and convenience for each can vary; not all are equal. Waiting for a check to come in the mail is no fun, especially if it arrives late. Having an online payment option is not only convenient for tenants, but it allows them to get rent to you faster. With a plethora of available options, there’s no time like the present to consider integrating online payments if you haven’t done so already.
5. Keep up with Regular Maintenance
Checking your investment every month for maintenance issues is a necessary practice to ensure your property is reaching its full potential! Depending on your lease and what you want to leave in the hands of your tenants, you should check or remind them to check the following:
AC and Heating
- Clean AC condenser for cooling efficiency.
- Make sure the AC unit is clear of debris.
- Furnace filters should need replacing according to manufacturers recommended intervals.
Pool (If You Have One)
- Clean pool filters to make sure they are functioning and clear of debris.
- Check water levels and chemical levels to the manufacturers suggested specifications.
- Keep the pool cover clean of dirt, moisture, and algae.
- Check for loose, cracked, or punctured siding.
- Inspect for any damage to roofing material due to weather or age.
- Inspect gutters for clogs, cracks, or separation due to expansion or contraction.
- Check for leaking pipes, under sinks, and around washing machines and dishwashers.
- Check vents for proper airflow and basements for mold as it can develop in areas that are damp or experience poor air circulation.
- Make sure your sump pump (if you have one) is working and ready for use in case of heavy rain or a potential flood scenario.
6. Seasonal Maintenance Counts!
It’s crucial not to forget any seasonal maintenance that needs to be done through changing seasons. Here are some details to keep an eye out for or remind your tenants to manage, when your rental property is transitioning through the seasons:
- Check that gutters are cleaned out and that downspouts are draining away from your rental.
- Address any landscape issues like hazardous, low hanging limbs.
- Clean the fins on your AC unit to prepare for the blazing summer months and do maintenance if it’s not performing as it should.
- If your property has a pool, do routine maintenance checks for cleanliness and chemical levels to make sure your investment and your tenants are safe.
- Check the AC unit to make sure the surrounding area is clean from debris and weeds to maximize efficiency and airflow to the AC unit. Make sure exterior hoses show no signs of punctures or leaks.
- Preparing for winter, you will want to check your furnace.
- Make sure gutters are clear of leaves and debris as your trees prepare for cooler weather.
- Check your property for frozen pipes and potential pipe leaks. San Antonio still averages 16 days per year of freezing weather! Texans are not immune to frozen pipes. Remind your tenants to add a slow drip when temperatures are threatening freezing.
- Furnace filters should be checked and replaced regularly during months when the system is in use.
- If you have an attic, keep it cold in the winter to help minimize the risk of ice dams. Be sure to communicate the necessity of this in your lease!
Monthly and seasonal checklists can help you keep up with the changing face of your investment property. Not only are routine inspections helpful, but they are also a way of keeping a record of completed work. Having a dedicated list and routinely checking in on your property keeps your property safe and helps you be proactive in maintenance and damage prevention! Leaving an issue unresolved means the loss of quality tenants.
Take Advantage of Expert Property Managers in Universal City
Ultimately, you are the only one that can decide the direction of your investment property. Investing in a property management partner like Real Property Management Campanas is an investment in your future. Whatever your rental property means to you, Real Property Management Campanas is there to help you realize those goals.
If you are interested in having your property managed by Real Property Management Campanas, have more questions, or just want to speak to one of our team members, then contact us online or call us directly at (210) 314-1039 today!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.