Why Hire A Manager
“Old Newport Realty has been truly professional with great attention to detail of their tenants needs. They showed up to my new rental in Corona del Mar upon move in to ensure everything was proceeding smoothly and to answer questions. Always responsive to email or phone, I feel great about living in a property they manage.” ~ Ben S.
Owning an income property is a big investment. The responsibilities are huge, and with them come potential headaches, liability and risks.
Anyone thinking about managing their own property should ask themselves the following questions:
- Do you know which contracts, disclosures and best practices to use for Newport Beach rentals?
- Do you have strong leases and disclosures for a legally enforceable lease protecting you?
- Are you familiar with fair housing laws to advertise Newport Beach rental properties properly?
- Do you have honest handymen and contractors on call 24/7 at a reasonable price?
- Do you have accurate data and means to determine fair market rent for your property?
- Can you check credit, eviction, and rental histories to screen out potentially problematic clients?
- Do you know what to do if a client stops paying rent?
- Do you have the ability to file 1099s at the end of the year?
The questions above allude to what it takes to manage a property properly. This is why hiring a professional management team is a prudent decision. One negligible oversight could have costs that dissolve returns for years, not to mention the personal hassle of dealing with the troubles.
We make it our business to help you properly manage your property. We are here to help you answer questions like the ones above as well as many others. During a consultation we will expand on our property management services, fees, contracts, as well as your desired time-line, income and market expectations. Whether you move ahead with us or not, you will leave our meeting with knowledge about property management; and your local market, that will put you on the right path
to going it alone.
Request your complimentary consultation by clicking here.
During the initial consultation, we will go over everything to be done in order to maximize rental income
, and minimize vacancies. These tasks could be as simple as cleaning, caulking, painting, as well as more substantial renovation. Regardless of the job's size, our leasing fee covers it. We do not make a profit for any specialty professional labor (such as painters, plumbers, etc.) and materials that will get the job done.
With your property inviting, it’s time to give it maximum exposure. We create and pay for advertisements
that appear on dozens of rental websites, such as Craigslist, Tour Zone, Trulia, Zillow, Hot Pads, OldNewportRealty.com as well as the traditional MLS free websites. When the clients contact us, we filter out the best clients
as we'd rather have an empty property than a uncertain tenant. Once vetted we present applications for your review, comments and approval.
To ensure a quality, long term client
we need to be careful with potential tenants. We closely examine credit history, verify income and employment, criminal history, look at motor vehicle records, make inquiries to prior landlords as well as current neighbor references. Careful completion of this process is like buying peace-of-mind insurance
for your investment.
We prepare a complete lease contract that covers all local laws including necessary attachments, addendum's and required disclosures. We also abide by your HOA rules and guidelines, if applicable. The lease is then reviewed with the landlord first, then applicant. This ensures that both parties are clear on expectations from the beginning. We encourage 'Meet & Greets
' with everyone, even pets, if desired.
During the walk-thru on moving day, photos are documented
one last time to prove the condition of the property. The tenants will be expected to leave the property in the same or better condition on the day the moved in, less any normal wear and tear that occurs. At this point the security deposit is collected and the keys are handed over. We take it from here to ensure the occupant is well served, and that the landlord proceeds are either deposited or mailed off promptly.
We continually monitor the property, perform regularly scheduled maintenance and make it easy to collect rent by check, online payment or credit/debit cards. We are aggressive with delinquency notices and have excellent collection attorneys. Emergency requests for repairs are addressed immediately and non-emergency repairs are performed within 72 hours
Each month we e-mail or mail (your choice) a Profit & Loss statement showing all financial activity for the prior month. Rental income is sent to owners via check or online transfer
. With our online accounting software, we can deliver any report desired.