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Property Management in San Diego – How to Avoid Late Payments

property management san diego

One of the most common difficulties facing owners dealing with property management in San Diego is dealing with renters who are late with payments. Money that comes in late could lead to you putting off repairs, possibly overdrafting a bank account, or simply being late paying yourself and your vendors. Below are a few ways you can reduce late payments and make your life easier in the process.

 

One simple way for those involved in residential and commercial property management to increase timely rent payments is by creating a payment reminder system. Around three days prior to the due date send out an email blast or text to your renters to make sure they are aware of the impending date.

 

Another way residential property management professionals can increase timely payments is by enabling electronic payment. For many, having to physically write a check, find a stamp, and mail a payment is a hassle. There are software options for making payments online, or you could consider accepting payments through Venmo or PayPal.

 

If late payments are a consistent problem, you might want to consider starting to charge late fees. Some renters might find the implementation of late fees as a shock, but as long as it is implemented fairly and consistently it should not be a problem. Additionally, you need to document all communication mentioning the late fees and you should consider allowing a grace period and not charging for payments sent by the due date even if they were not processed on time.

 

A final, easy way to reduce late rent payments is by hiring a property manager. Your manager can increase communication with your renters, provide valuable expertise, and help implement a stronger payment policy moving forward. Many owners of rental properties have other businesses and daily concerns and tracking down late payments or communicating with irresponsible tenants can be a hassle. With a property manager, this minutiae is handled by an experienced professional, leaving you free to relax and address other concerns.

 

These are just a few simple pieces of advice to keep in mind when dealing with late payments. If you need more advice or have other questions about how to collect rent on your rental property, please reach out to  Melroy Property Management and Investments at (858) 780-5111. Our professional and experienced staff is ready to help you in any way.property management in San Diego

Property Management in San Diego – Design Trends to Avoid When Renovating Your Rental Property

property management san diego

When you are preparing your property for rental you want it to look its best so you can get top dollar. However, there are certain trends that some renters follow when renovating that are either too costly or could end up turning renters away after the trend passes. Below are some pieces of advice from experienced professionals with years of experience in property management in San Diego.

 

One popular trend that has been noticed by professionals working in both residential and commercial property management is white on white bathrooms. These bathrooms have white walls and fixtures which are meant to make the room look clean and modern. However, they only look good when they are sparkling clean. It is generally easier and smarter to choose a neutral pastel and add natural elements to your rental unit’s bathroom, as it minimizes the necessary upkeep and is equally attractive.

 

Granite countertops are another trend that have been noticed on countless home improvement shows and by residential property management professionals. While it looks nice, granite is expensive and marble, quartz, or treated laminate are much cheaper and similarly durable. Also, with granite countertops being so ubiquitous, a backlash is almost inevitable, meaning that in a matter of years these countertops will look dated and need replacement.

 

Another popular trend from recent years is distressed cabinets. However, more and more renters and owners are realizing that, just like distressed jeans, the cabinets simply look old and used. If you have distressed cabinets, this could even be a good place to start renovations by updating them. Choose a neutral color or finish for cabinets. It is not a good idea to use very light colors because, similar to all-white bathrooms, light cabinets will show dirt, dust, and wear more than a darker shade. Very dark tones, though, like dark gray or black, will make the room look smaller. Light or medium walnut or pine stains, or basic colors such as ivory or even gray-blue, are suitable choices.

 

These are just a few simple pieces of advice to keep in mind when you begin renovating your rental property. If you need more advice or have other questions about how to prepare your rental property, please reach out to  Melroy Property Management and Investments at (858) 780-5111. Our professional and experienced staff is ready to help you in any way.property management in San Diego