Management FAQs
Looking for a property manager and a property management company in the East Bay?
Provided below are answers to some common questions about our Property Management services. Our goal on this page is to provide a clear picture of what you can expect if you hire us as your property management company. Let our professional property manager take care of your needs.
Property Management and Leasing Questions
What type of rental properties do you manage?
We specialize in residential single family homes, duplexes, tri-plexes, four-plex and small apartments in and around the East Bay.
What geographic areas do you cover?
Our property management service area is the greater San Francisco East Bay (Alameda County and Contra Costa County). In certain situations, we can also service properties in the South Bay.
What Property Management experience do you offer?
Advantage Property Management Services offers you the level of experience and expertise you should seek from any property management company you hire. The owners have been investing and managing rental properties for 7 years. They’ve been in the trenches and experience many of the common problems most landlords have, along with some unique situations. We treat your rental property as if it were one of our own investment properties.
Why should I hire you as my property manager?
You should hire us only if you think we are the best match for your property management needs. Frankly, we are not a perfect fit for every property owner. We may be the best property manager for some owners and properties but not for others. The Why Choose Advantage Property Management page offers a short list of some key differentiators.
Turning over your rental property to the care of an unknown property manager can be an emotional and frightening experience. You want to be able to trust your property manager so that you won’t be worrying about your home. The more research and information you gather, the better you will feel about your final decision. Of course, we’d love the chance to earn your trust and manage your property, so please read on.
How much will my house rent for?
We are asked this question more than any other by new owner prospects. Of course it depends on a lot of factors that are constantly changing. We have found that asking the highest possible rent leads to lots of turnover and vacancy. Asking market rate rent makes it easier to find quality tenants that want to stay for a long time. The higher your occupancy, the more money you make!
Many owners who have purchased in the past 10 years and made a small down payment cannot lease the home for an amount that will cover the carrying costs, especially in newer neighborhoods. You also might not have enough equity to sell without bringing money to the closing table. If you are in this situation, you are not alone. Some of our new clients are “involuntary landlords”, forced into leasing their home by market conditions. The good news is, if you can ride out the market, you are likely to be much better off in a few years than if you sell your home now at a deeply discounted price. This in fact is why many out of state investors bought investment homes, expecting the long term gain to offset the short term cash flow loss.
The most important thing to know is that the rental market is indifferent to your mortgage payment amount. The rental market does not care that you might have a negative cash flow, and will punish with extended vacancy owners who overprice their rental homes. When you hire us as your property manager, we will look at the rental market in your particular area, survey the competing homes, and make sure your home is priced so that it will be viewed favorably against the competition.
What will you do to rent my house?
We give it maximum exposure while it is for rent and we carefully scrutinize all interested parties.
FOR RENT SIGNS: Posted at the property with our website and phone number clearly displayed. Prospective renters can find out very easily ‘ even at 7PM on a Saturday ‘ the price and size of your property and when it will be ready for move-in.
INTERNET LISTINGS: Our available homes for rent are posted online complete with photos, maps and property details for the convenience of those searching for a new home.
WORD OF MOUTH / REFERRALS: Current and past tenants, friends of our tenants, referrals from other agents that we network with.
CORRECT PRICING: Even the best and nicest homes will not lease quickly if overpriced. We make sure your rental home is priced according to current market conditions.
THOROUGH PREPARATION: Even the best located and well priced rental homes will not lease quickly if the rental home is not in top showing condition. Homes for rent in the East Bay absolutely must show well and have an attractive “curb appeal” or they may sit empty for extended periods. Part of our job as property manager is to make sure your rental home is presented in a clean and attractive condition so that it will attract a good tenant.
What, specifically, do you do to qualify a tenant after they have applied to rent my house?
This is the most important aspect of the successful management of rental property. Application processing is typically done by us in-house. We don’t send the application to a third party for processing as do most other property managers. In general, we look at an applicant’s past behavior and assume their future behavior will be the same. An applicant must demonstrate a history of being a good, responsible tenant or homeowner as well as meeting credit standards. Nobody screens their tenants as well as our property management team.
CREDIT REPORT: We obtain a credit report which tells us the applicant’s current and past performance toward meeting their financial obligations. It also tells us their monthly debt, credit score, and shows their previous addresses (which we compare to addresses listed on the application). An applicant must meet established credit standards.
IDENTITY VERIFICATION: Our screening service verifies an applicant’s identity through various public information sources. We also copy the applicant’s driver’s license to verify the person is who they say they are.
EMPLOYMENT/INCOME: We contact the employer to verify length of employment, status, and income. An applicant needs to earn at least 3 times the monthly rent in gross income to qualify for rental and we will want to see a copy of their pay stub.
PETS: We don’t generally permit animals/pets into managed properties unless you allow us to do so, however, 50% to 70% of renters have pets. When we make the decision to accept an applicant with pets, we minimize your risk by limiting the breed, age, number and size of the pets. We are careful in selecting tenants who wish to bring pets with them.
OTHER FACTORS: Some of our managed properties are subject to Home Owner Association restrictions such as no boats or trailers, and limits on the type and number of vehicles. An otherwise qualified applicant may be unable to lease a property if, for instance, they own a boat and want to park it in the driveway. We make sure issues like that are covered up front to avoid surprises after move-in.
How do you make sure the tenant is taking good care of my home while renting?
There are several ways your property manager has to know this. Above all, careful tenant selection from the outset protects your property from being rented to irresponsible people. During the lease term, we may have occasion to enter the property for repair or maintenance reasons and will use that opportunity to have a look. If we are fortunate enough not to have any repairs or maintenance at your property over an extended period of time, your property manager will schedule a visual survey about every 6 months to make sure the air filter is being changed, that the smoke alarms have batteries and that there are no unreported problems at the property.
What do you do if they are not taking care of my property as they should, or you discover unauthorized pets?
Your property manager gives the tenant an opportunity to correct the situation and usually the tenant will. If a problem persists, we will make a decision based on that specific situation.
What happens if the tenant does not pay their rent?
We follow up with all tenants at least twice before rent is due. If we still haven’t received rent by the 7th we post a 3 Day Notice To Pay or Quit. If the tenant does not respond to the notice, we will contact you to discuss the options before moving forward with an eviction. Whether or not the property manager eventually proceeds with a formal eviction depends on the specific circumstances. It is always financially better for all involved if a solution can be worked out. If the tenant has experienced a one-time event which is causing them a financial hardship, and we have had no previous problems with them, it is better for you and the tenant if we give them a chance to catch up, if there is reason to believe they can do so. If the tenant has demonstrated an ongoing pattern of late payments, broken promises about payments and/or evasiveness, we know from experience that eviction is the best course of action.
Each case is unique and the property manager will make a decision based what is best for you and your home in the long run. That said, we proceed with the legal notices required for eviction regardless of any other factors.
How informed will I be about what happens with my property?
Absent any special considerations unique to you or your property, our rule of thumb is this: If something may cause a potential interruption in your ordinary cash flow (loss of tenant or non-emergency repair in excess of the predetermined limit), we will let you know about it right away. Other than that, the saying “no news is good news” is most appropriate. You will be notified instantly when a maintenance request is submitted. We encourage you to contact the property manager anytime you have a question or wish to discuss something.
Our system provides your 24/7/365 portal access to the status of your property. You can log in from any Internet connected computer or device and see the status of rent payments, repairs, bills, etc.
If you are a worrisome property owner or someone who desires a high degree of personal involvement with the property or who needs constant communication from the property manager, such as a phone call before any repairs are completed, we are not a good match for your needs. The property owners who appreciate us the most are those who truly want everything handled for them turn-key and don’t want to be bothered unless something important is happening. That is the type of property management service we offer. That being said, we are always available to talk about issues.
How do you handle maintenance requests?
Tenants submit maintenance requests to us using an online form in the Tenant Portal. When a request is submitted, the system instantly notifies you via email. After we receive a repair request, the property manager may contact the tenant and ask them questions which will help us determine the exact nature of the problem before sending a service technician. We also make sure it is not something the tenant can fix themselves (ex: reset button on the disposal, tripped breaker) before your money is spent on a service call. After determining that it is a legitimate problem, we will send the appropriate service vendor to make the repair.
We tell our tenants that we are able to handle most repair requests within 1 to 3 working days, and are usually able to do so. Safety and Comfort issues such as air conditioning, no hot water or heat, receive highest priority and are usually attended to the same or next business day.
Do you use the cheapest maintenance people you can find?
No. Our people are middle of the road in price and are competent and reliable. We also have dedicated all-around maintenance sub-contractors who are capable in a wide range of home repairs including air-conditioning, light plumbing and electrical. Our main “go to” guys charge ~$40/hour for the first hour and ~$30/hour after that. Our other vendors range in price from $30/hour to $90/hour, and sometimes more for conditions such as an after-hours emergency sewer backup. We try to have our main guys handle most of the multi-trade and make-ready tasks. This saves our owners a lot of money on multi-trade repairs by cutting down on the number of service calls to the property by different vendors. It also means that if we are called out on a dishwasher repair, we are going to be checking the furnace filter, sink drains, smoke alarms and general condition of the property ‘ something that a single trade vendor will not do for you.
We think we have developed a very sensible approach to handling maintenance and repairs and that you will realize cost savings that other property managers simply can’t deliver.
Do you hold some of my money for repairs? How much?
We will reserve some money in your account so that we may distribute funds to you earlier in the month.
How do I know your property manager won’t spend my money on large repairs without my approval?
This is a legitimate fear. We promise in writing not to do that. For ordinary maintenance and repairs of less than $300, the property manager will take care of it without notifying you. You will find out when you receive your monthly statement. If we think a repair might exceed $300, we will call you and let you know what is happening, what we think should be done, and what the estimated cost might be.
Sometimes expenses such as a replacing a bad water heater, a roof leak that needs patching or repair, or emergency A/C and furnace repairs are unavoidable. In those cases where 1) the health or safety of a tenant is an issue, or 2) in instances where there is only one option to consider or 3) the property will incur damage if immediate action is not taken, the property manager will initiate the repair work, even if it is higher that the $300 limit, and then let you know of the situation and what we are doing about it. Mainly, we don’t think important repairs should be delayed while we try to contact you for permission to do the obvious.
What if I want you to use my plumber, A/C company, etc.?
We already have a stable of very qualified and reasonably priced vendors. If you would like to nominate a service company to be added to our vendor list, they can contact us and we will interview them and let them know what documentation and references we need, what our invoicing and payment policy is, etc. We cannot guaranty however that your favorite company will be sent on all service calls to your home. Our concern is always to resolve repair problems in the most efficient way possible with the best available vendor at the time. Property managers can’t keep track of a pre-established roster of vendors assigned to certain properties ‘ it would be a cumbersome and inefficient property management system and would not achieve the best service to the tenant and your investment property.
Our professional reputation as property managers, both with tenants and owners, is largely, if not almost entirely, determined by the effectiveness with which we handle maintenance. We follow a practice that is most likely to insure the best possible response and resolution to maintenance and repair problems for your property.
When do you distribute Owners funds and send statements?
Owner’s distributions are sent via ACH to your bank account on or about the 10th of each month, but no later than the 15th for that month’s activity. Statements are posted to the Owner’s Portal at the end of the month.
What will I receive with my monthly statement?
The monthly statement showing all income and expenses for the accounting period and the original receipts for any repairs. It will be posted to the Owners Portal at the end of each month. We don’t mark up repair invoices and we post the original copy in the Owner’s Portal so you’ll see what was done.
How much is the leasing fee?
There is NO leasing fee under our full service property management program. If you are interested in leasing services only, the leasing-only fee is a flat $1,500. All printed advertising costs are passed through to owners, but we absorb all other costs of leasing the property including internet marketing, for rent signs, lockboxes, etc.
Are your property management fees negotiable?
No. We don’t try to compete against lower priced property management companies or Realtors who practice property management as a side business. Frankly, we know you can find a cheaper property management company. We just don’t think price should be the determining factor in deciding which property manager you hire to manage your home.
The ultimate cost of using a property manager is determined by many things other than the fee charged. The efficiency and manner in which maintenance and tenant relationship problems are handled, and the attention to detail during the leasing process are two of many areas in which we excel. We feel that our set of services, our systems, and the experience and expertise we offer are an excellent value at the fee structure we have established. We stand behind our service with an unconditional guarantee. We don’t ask for long-term agreements and you can leave with only 30 days notice (except after lease-ups which require a 6 month commitment).
Are there administrative fees or other service charges up and above the property management and leasing fees?
There are no administrative fees or start-up costs. We don’t charge for copies, long distance calls, mileage, or other incidentals. We don’t mark up maintenance costs or nickel and dime you with petty fees as do some property management companies. The only other expenses you could incur would be for services which fall outside the normal scope of our property management agreement (such as maintenance completed by our staff, contracting a major renovation, restoration or remodel, assisting in sales efforts for which we are not otherwise being paid).
Does your property management agreement give you exclusive right to sell my property?
No, we are property manager’s not sales agents. We would be happy to refer you to an experience real estate broker who can assist with the sale. This is another trick that discount property managers use. They manage your home at little or no profit knowing they have you locked into an eventual sales listing. We think, at the time you decide to eventually sell, you should be free to decide who the best listing agent will be for your property given its location and characteristics. Most of our owners choose a full time sales agent to sell their home and we encourage them to do so in most instances.
Is the Property Management Agreement a standard, widely used form?
Yes. We use the California Association of Realtors Property Management Agreement.
How much security deposit do you charge the tenant?
As a general rule of thumb we ask 1.25 times the monthly rental amount for the security deposit. In our eyes, the more we can collect the better.
Are you a licensed Property Manager?
We are real estate brokers licensed through the California Department of Real Estate.
How soon can you start managing my home?
We can start the process immediately. We will start by obtaining some information about you and your property. Contact us online or call us today at (925) 273-9865. Want us to call you? Click here (the system will call you first and then connect you with us).