Interested in owning a rental property? Here are the top five questions to ask before becoming an SCV landlord.
Are you thinking about purchasing a rental property?
We think it’s one of the wisest choices you can make for your finances and your future.
But it doesn’t come without its risks.
That’s why we also think it’s critical to go into this process well-informed, properly supported and with clear expectations of what’s required.
To help you get ready for this amazing opportunity, here are five questions to ask yourself before becoming an SCV landlord.
5 Questions To Ask Before Becoming An SCV Landlord
1. Do I have the time to treat this like a business?
Owning rental properties is a very lucrative and beneficial way of generating extra income and increasing your equity. But it does take a certain amount of effort, knowledge and resources – especially if you want to maximize your return. That’s why one of the first questions you should ask yourself is: How much time and energy do I have to devote to this, and can I treat this with the seriousness and dedication I would treat any other revenue-generating endeavor?
If you don’t have the experience, time or energy to give your investment the attention it deserves, you can still maximize your profits with the help of a qualified team. The benefit of property management services, especially with SCREM, is you have an entire network of industry professionals to help guide you every step of the way:
- SCREM team members with decades of experience
- Professional and reliable maintenance crew
- Qualified and caring home inspectors
- JSL Realty, our partnering real estate agency
- The Law Offices of Steffanie Stelnick, our legal consultation and support
With a team like this, we can help you find, purchase and upgrade your first rental property. Then, once it’s ready for the market, we can help you screen your tenants, move them in, and handle rent collection every month. If there are any issues, you have our legal protection on your side. If everything goes right, we can help you expand your portfolio with our Investor Program. From start to finish, we have an abundance of resources and professional expertise to help you maximize your profits.
2. Do you understand the tenant-landlord laws in your state?
Potentially the biggest risk involved in owning a rental property is a legal one. Even dealing with a legal eviction can be stressful, especially if you don’t have the support of a professional on your side.
That’s why attorney protection services are available to any property owner client of SCREM, as much as is needed. Our attorneys – including Steffanie Stelnick, who was named as 2020 Litigator of the Year by the American Institute of Trial Lawyers, as well as being a licensed realtor – are experts in the fields of property dispute, rental contracts, landlord-tenant communications, and all the potential concerns that can arise in property management.
“One of the aspects of property management that we’re especially proud of is our very low eviction rate among tenants,” explained Todd Stelnick, Vice President of Southern California Real Estate Management Inc. “We know eviction is a worst-case scenario for everyone involved, and that’s why we work with tenants to screen for any potential issues, ensure all contractual obligations are understood, and help everyone start off in the best position possible for a stable and positive rental experience. And we do all that on behalf of our property owners – so they don’t have to worry about a thing.”
3. Am I prepared to find and vet quality tenants?
When finding the perfect tenant for a Santa Clarita investment property, the screening process generally considers five areas for a prospective renter: income, credit history, evictions, criminal history, and former rental history.
By understanding each of these elements, you can get a clear picture of whether or not a potential tenant is the right choice for your property. They will help you understand if each applicant is willing and able to make timely rent payments, take care of the property and communicate issues when appropriate.
When you can find a tenant who meets these criteria, growing your property into a valuable investment becomes much, much easier.
At SCREM, we have access to professionals, services and resources that properly evaluate risk and provide confidence in your tenant screening process. Since challenging credit and eviction history have become a more common occurrence since the pandemic, these industry resources are more important than ever if you want a seamless, profitable tenant placement process.
4. Can I handle home repairs if needed?
Access to a reliable and professional team of home repair specialists is hard to find – yet absolutely necessary. When you own a rental property, not only do you have a responsibility to your bottom line, but you also have a responsibility to your tenants.
You’ll need fast repairs from an expert you can trust will do a great job without overcharging you in your moment of need. If you don’t have that network of support, and you can’t do the work yourself, then potential home repairs and maintenance could become challenging, frustrating or costly.
When it comes to property management in Santa Clarita and beyond, it’s rare to find a company that has its own maintenance department and handyman on staff. But the benefits are substantial – especially in such a busy, fast-paced real estate market.
“One of the biggest benefits of having a property manager is the assistance with maintenance issues,” explained Steffanie Stelnick, CEO and President of SCREM. “That’s what it takes to keep your property maintained and cared for, and we have a specific maintenance department that does that every day.”
We start by handling any insurance claims or warranties that are available to you. If there’s no claim or warranty, our on-staff handyman or reliable vendors can help make any repairs needed. We find, vet and hire the best contractors to get the job done, while we work with your tenants along the way. We’re here to make sure your property, tenants and bottom line are taken care of when it comes to repairs.
5. Am I organized?
There’s a lot involved when it comes to managing a rental property. From finding and vetting your tenants, to drafting your lease agreement, to managing the day to day for the next 12 months, it requires a wide range of skills – and a serious amount of organization.
At SCREM, we handle every single aspect of this process, while keeping you informed so you’re still in the driver’s seat to make decisions and oversee profits. To ensure an organized, easy and lucrative property management experience, here’s an overview of the services we provide:
Tenant Placement
- Professional marketing from website to social media
- Advertising on Zillow and major listing sites
- Property showings 7 days a week
- In-depth and thorough tenant screenings
- Lease preparation & signing
- Review of lease by legal counsel
- Insurance verification
- Security deposit & first month’s rent collection
Rent Collection
- Late notices and charges
- Three-day notices
Evictions
- Attorney coordination
- Sheriff coordination
- Court appearances
Maintenance & Repair Coordination
- Written move-in and move-out inspections with photos
- Coordination of updates and repairs during vacancies
- Coordination of tenant requests for repairs
- After-hour emergency answering service
State-of-the-Art Bookkeeping
- Monthly owner reports
- Monthly bill paying
- Mortgage payments
- HOA dues
- Gardening, pool service, etc.
- Utilities
- Repairs
- Security deposit disposition upon move-out
“At SCREM, we handle everything,” Steffanie explained. “We can walk you through the answers to every one of these questions and show you how we handle each aspect of property management with professionalism, expertise and attention to detail. We make this entire process about you, so you can devote your time to what matters most. At the end of the day, all you’re worried about is receiving the net profit from your rental.”
How We Can Help
SCREM is owned by a husband-and-wife team who have combined expertise in legal, real estate and property management experience. They personally own rental properties and work with tenants, and they even own a real estate agency in Santa Clarita. Todd and Steffanie Stelnick have years of experience in every aspect of the industry, and they’ve poured that expertise into the processes and staff members that support SCREM clients every day.
Please reach out to us today to discuss the different ways you can break into the rental market and become a landlord in Santa Clarita or throughout California.
Ready to talk now? Email SCREM Vice President Todd Stelnick at todd@screm.com.
About Southern California Real Estate Management Inc.
Southern California Real Estate Management Inc. was founded in 1987, and has grown to become the largest property management company of individually-owned single-family homes and condominiums in the Santa Clarita Valley. Our locally owned and operated company currently manages about 700+ homes in Southern California. Our Team specializes entirely in residential property management.