Common Pitfalls of the Self-Managed

By
Services for Real Estate Pros with SCV Leasing, Inc.

If you have ever considered managing your own property, please take with you the following list of pitfalls that many self-managed landlords fall into.  If you need advice on any of them, please call us.  We will always be glad to consult with you at no cost.

  1. Not running their rentals like a business.
  2. Not fully screening applicants.
  3. Not reviewing State landlord/tenant laws.
  4. Failing to have a written agreement.
  5. Hiring the wrong contractors and repair people.
  6. Not enforcing late rent policies.
  7. Not inspecting your property on an annual basis and automatically replacing smoke alarm batteries and filters.
  8. Entering a property without proper reason or notice.
  9. Not using the advice of an eviction attorney when dealing with a non-paying tenant.
  10. Not setting rents to reflect current market rates.
  11. Poor record keeping.         
  12. Not maintaining the property.
  13. Not properly handling deposit refunds.

It should go without saying that by hiring and keeping a professional property manager on your team, you help avoid these common pitfalls!

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Scott Taylor is the principal property manager and co-owner of SCV Leasing in Santa Clarita, California.  SCV Leasing serves Valencia, Stevenson Ranch, Newhall,  Santa Clarita,  Saugus,  Canyon Country, Fair Oaks Ranch,  Castaic, Sand Canyon, and Westridge with homes for rent, condos for rent, and property management services.

His experience as a rental property owner and as a property manager makes him the best choice for managing your rental. SCV Leasing's unsurpassed marketing plan puts renters in properties fast.  Mr. Taylor can be reached at scott@scvleasing.com.

Comments (1)

Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Scott - Hubby and I have been there, done that and I hated being a landlord.  We sold our last rental more than three years ago and I was so glad to rid of it.  Managing your own rentals is not for woosies, especially here in Los Angeles & Ventura counties.

Nov 17, 2009 02:53 AM