Are Property Manager Fees Tax Deductible?

Nov 3, 2021 11:49:35 AM / by Hignell Property Management Team

When you build or buy into for-profit properties for residential occupancy, it's a major investment. That's why it's vital to take full advantage of all the tax breaks and deductions for which rental property owners are eligible. Many of these owners want to reap the profits from their investments but are less interested in performing the hands-on duties associated with property management.

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What Does a Property Manager Do?

Oct 18, 2021 11:11:02 AM / by Hignell Property Management Team

Property managers take the burden from property owners with regard to the day-to-day operations of an investment or rental property. Property managers are responsible for various managerial tasks associated with the property. This includes anything from fielding calls about broken hot water tanks to staying on top of the many city, state & federal regulations that must be followed.  A property manager can help with the following  property management functions.

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What Does it Mean to Have an Owner-Occupied Rental Property?

Oct 11, 2021 4:33:33 PM / by Hignell Property Management Team

Investing in a rental property is a great way to create extra cash flow each month that can help pay your mortgage or other bills. But just because you have the money to purchase property doesn’t mean you have the knowledge or experience to manage the property. That’s why some investors choose to start with an owner-occupied rental, which can be a smart step for a first-time investment property owner looking to build a small investment portfolio. Here's a look at the concept of an owner-occupied rental and who should consider this investment option.

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Fall Maintenance Checklist for Rental Property Owners 

Sep 20, 2021 4:33:09 PM / by Hignell Property Management Team

Owning a rental property comes with a lot of responsibilities. In addition to keeping a steady stream of renters, you also have to keep up with the maintenance of the property. This is especially important in the fall, just before the onslaught of winter. Here are a few common maintenance tasks a rental property owner should be sure to handle before the season changes.

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What’s the Difference Between Property Management and Property Maintenance? 

Aug 24, 2021 3:39:20 PM / by Hignell Property Management Team

Purchasing an investment property can be a smart financial decision but it also comes with responsibilities. In addition to paying a mortgage, taxes, and other related fees, you’ll have to be sure that the property is properly maintained, in order to create a habitable environment for your residents. As you grow your business, you may eventually need the help of a professional property management company to take care of the routine upkeep of your properties. Here's a look at the difference between property management and property maintenance.

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What Property Owners Need to Know About the Extended Eviction Moratorium

Aug 13, 2021 3:15:16 PM / by Hignell Property Management Team

The CDC recently announced that it would be extending the federal eviction moratorium into the fall. The eviction moratorium was designed to curb the spread of COVID-19 by providing relief to renters who are struggling to keep up with their bills. But, this bill also has an impact on property owners who rely on that rent to pay their own bills. Here's a look at what property owners need to know about the extended eviction moratorium.

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How to Optimize an Online Rental Property Listing

Jul 26, 2021 9:00:00 AM / by Hignell Property Management Team

Professional rental property owners view resident turnover among the costs/responsibilities of managing an investment unit. To maximize the unit’s return, investors find it beneficial to educate themselves on the effective ways to market a vacant unit. The goal is to minimize vacancies by ensuring the property is leased quickly to a qualified resident. Creating an optimized and effective online rental listing is quickly done by following a few simple techniques. 

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Fire Safety Tips for Your Rental Property

Jul 12, 2021 9:00:00 AM / by Hignell Property Management Team

As a rental property owner, you want to do everything you can to keep your investment safe. Keeping your property safe includes doing routine maintenance and conducting safety checks. Additionally, it would be best to think about fire safety and ways to reduce the risk of a fire at your rental property during those safety checks. Here are some fire safety tips to help keep your rental property safe.

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Should I Rent to Someone With a Low Credit Score?

Jun 21, 2021 9:00:00 AM / by Hignell Property Management Team

Finding reliable residents is one of the hardest parts of being a rental property owner. If you own an investment property and you’re looking to get it rented quickly to avoid vacancies, you may decide to accept a resident who doesn’t have the best financial credentials, including a low credit score. Here's a look at the process of evaluating an applicant’s credit and whether it makes sense to rent to someone with a low score.

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Should You Convert a Primary Residence to a Rental Property?

Jun 7, 2021 9:00:00 AM / by Hignell Property Management Team

Has last year created new motivations or means to make a move in the real estate market? If you're facing this situation (and you are not alone), you have two primary choices regarding the status of the property you currently own:

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Pros and Cons of Renting to Friends or Family Members

May 31, 2021 3:16:00 PM / by Hignell Property Management Team

One of the hardest parts about being a property manager is finding quality residents. Although financial records and credit checks can help, you can never truly know a person’s character and ability to make payments on time until they are in the unit. If you own an investment property it may be tempting to rent to a friend or family member to avoid any bad apples who pass a credit check but still refuse to pay. But there are a few things you should consider before renting a unit to someone in your inner circle.

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What to Do if a Security Deposit Doesn’t Cover Property Damage 

May 17, 2021 2:44:52 PM / by Hignell Property Management Team

It’s customary for a property owner renting out an investment property to require residents to put down a security deposit that is equal to one month’s rent before moving in to cover any potential damages. But, if the resident has done serious damage to the unit while living there, it’s possible that one month does not cover all the costs to repair the unit. Here's a look at what you should do if you find yourself in this situation.

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Preventative Maintenance Tasks Property Owners Should Stay on Top Of

Apr 26, 2021 4:32:26 PM / by Hignell Property Management Team

Preventative maintenance is one of the most important aspects of property ownership. If you want to protect your investment, it’s important to perform routine maintenance to keep everything in the building functioning properly. If you’re thinking about doing some spring cleaning and want to be sure that you’re doing everything you can, here's a look at the most common preventative maintenance tasks a property owner should stay on top of.

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What Tax Deductions Can I Take as an Owner of a Rental Property?

Mar 15, 2021 4:22:22 PM / by Hignell Property Management Team

The art of being a property owner is knowing how to use the benefits to one’s advantage. Most property owners are in the rental property business for income and planning for their future. For all practical purposes, they run a business that they hope will return a reasonably substantial gain for them in the future. So, it stands to reason that they will want to make decisions that will save them money and make them money.  One of the best ways to save money and make money is by knowing how to handle rental income on tax returns.

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7 Marketing Strategies to Help Fill Your Investment Property Vacancies

Mar 8, 2021 3:19:54 PM / by Hignell Property Management Team

Property owners and renters are always on the lookout to make connections. The property owner is looking for a potential family to come and live in the home. If you are a property owner and wondering what the secret is to attracting quality people to your properties, then there are some marketing strategies that you can do to bolster the attraction to your investment property.

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Quick Guide: What to Include in a Rental Property Move-In Checklist

Feb 26, 2021 9:00:00 AM / by Hignell Property Management Team

There's a lot that goes into getting your rental property ready for a new resident. You'll need to find the right person, create a rental lease and get them to sign it. You'll also need to have new keys made for the new locks you put on your property. But there is one thing that is often overlooked by both parties and that is the pre-move in checklist.

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9 Steps to Take During the Rental Property Turnover Process

Feb 22, 2021 4:04:17 PM / by Hignell Property Management Team

It's the objective of every property owner to have a resident that would rent for life. And during that time the resident would care for the property like it's their own. They would pay the rent on time and be completely flexible when it comes time for repairs. But the fact remains that the perfect renter doesn't exist. Sure, there are many renters that would make exceptional lifetime residents, but people move for many various reasons.

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How to Build Long-Term Relationships With Your Renters

Feb 17, 2021 3:50:11 PM / by Hignell Property Management Team

There are a lot of things that you have to think through when you are a rental property owner. Many property owners think that the technical side is all they have to work through. But there are so many more details such as communication, building a good relationship with renters, and working things out as issues come up. If you're looking for ways to build a better relationship with your renters, here are some ways you can make it happen.

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Pros & Cons of Allowing Pets in Your Rental Properties

Jan 27, 2021 10:14:48 AM / by Hignell Property Management Team

The decision on whether you'll allow pets in one or more of your investment properties isn't a personal decision. It's a business decision, and it's a decision that must be made by you as the property owner before a unit is leased.

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When Can I Legally Enter My Investment Property?

Dec 30, 2020 12:00:00 AM / by Hignell Property Management Team

Now that you own an investment property, and have leased your unit out, you've come to the realization that you don't know when you might be able to enter it for purposes of checking on any maintenance issues or otherwise protecting your investment. In checking your lease, you confirm that you have the right to enter the premises at reasonable times with reasonable notice, but that doesn't tell you much. Your new residents have the right to privacy in the property, and you just can't show up there this week and say see you next week at the same time. That can turn into harassment. So, when can you legally enter your California investment property? 

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What's the Difference Between a Property Owner & Management Company?

Dec 22, 2020 11:09:52 AM / by Hignell Property Management Team

Being a property owner might sound easy to some people, but owning an investment property can sometimes be one headache after another, especially if you own multiple rental units. Just a few of the issues that owners have to deal with are:

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The Property Owners Guide to Security Deposits

Nov 4, 2020 11:47:00 AM / by Hignell Property Management Team

Most people know that a security deposit is required to rent a house or apartment. However, many don’t understand exactly what this payment is intended for and the rules regarding its use and storage. Here is everything property owners need to know about security deposits.

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Should Property Owners Require Residents to Have Renters Insurance?

Oct 21, 2020 12:08:00 PM / by Hignell Property Management Team

Everyone knows about property insurance, but there is another type of policy called renter’s insurance that is available through most carriers. Renters insurance is designed to protect the renter, however, it’s a concept every investment property owner should understand. Here's a look at this type of insurance policy and how it can benefit rental property owners.  

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Can a Property Owner Evict Residents During the Covid-19 Pandemic?

Aug 31, 2020 1:53:00 PM / by Hignell Property Management Team

The economic impacts of COVID-19 are unprecedented. Property owners, investors and residents alike are facing challenges that no one could have seen coming. Due to the state’s closure and reopening plan, many residents still are unable to work, especially in industries such as restaurants or hospitality. Without receiving a monthly paycheck, and even if any kind of second stimulus package is released, many residents are only able to pay partial rent or are unable to pay their rent at all.

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How to Market Your Rental Property to Attract the Right Renters

Aug 12, 2020 4:24:00 PM / by Hignell Property Management Team

It stands to reason that you will want to market to reliable residents that are hopefully willing to live long term at the property.  A “for rent” sign is the simplest form of marketing that you can do for your rental property, but it's not always the most effective strategy. If you're looking for ways to market your rental property to a targeted group of people, then there are some strategies that you'll want to do.

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What Every First-Time Investment Property Owner Should Know

Jul 8, 2020 12:00:00 AM / by Hignell Property Management Team

Are you thinking of taking the plunge and dipping a toe into the real estate rental industry? Owning an investment property can be a very lucrative income stream whether it's your main source of revenue or a side project. But before you jump in feet first, consider how you plan to handle each aspect of the venture as a property owner.

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What Should Be Included in a Rental Agreement/Lease?

Jun 17, 2020 12:00:00 AM / by Hignell Property Management Team

Whether you are just dipping a toe into the world of rental property ownership or are a seasoned property owner, the one thing that can protect your interests is a solid lease/rental agreement. When drawn-up correctly, both you and your residents should be protected.

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Is Now a Good Time to Invest in Rental Property?

Jun 3, 2020 12:00:00 AM / by Hignell Property Management Team

With so much uncertainty in the world, you may be looking for a way to secure your savings for the future. Real estate is a tried and true method for building and protecting wealth. But with the economy in such a precarious position, you may be wondering if a rental property is a good investment at the moment.

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Qualities of an Ideal Renter

May 20, 2020 11:49:00 AM / by Hignell Property Management Team

Property managers understand that filling a rental vacancy with an ideal renter is often an arrangement worth its weight gold, one in which may even increase the potential value of a property. While every property manager or owner will likely have an ultimate objective of finding the ideal renter, the finite details of what defines an ideal renter may vary among professionals. However, there are a few commonalities most preferred renter’s possess. 

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Why It’s Important to Encourage Residents to Have Renter’s Insurance

May 6, 2020 9:00:00 AM / by Hignell Property Management Team

Renter’s insurance is an often-overlooked expense that can be vital to residents. Many renters, especially younger residents, may be unaware of what renter’s insurance is and how it can help them in an emergency. As a property owner, you should encourage your residents to have renter’s insurance by educating them on the subject so they know what it’s for and how it can help them. Here's a look at the benefits of renter’s insurance for both property owners and residents. 

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7 Questions to Ask During the Renter Screening Process

Apr 22, 2020 11:05:00 AM / by Hignell Property Management Team

When a vacancy arises in a rental property, professional property managers (or property owners who have chosen to go it alone) are tasked with the responsibility of replacing the lost resident –quickly, if they are to minimize the disruption to the investment property’s monthly cash flow.

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Can a Renter Run a Business Out of My Investment Property?

Mar 25, 2020 12:00:00 AM / by Hignell Property Management Team

Property owners have a lot to deal with when it comes to residents renting their property. The desire of every property owner is to have that one family that causes no trouble and actually takes care of the property. But what happens when the resident decides that they are going to run a business out of the home? The property owner may feel that there's nothing that they can do, but the truth is that there are things that can be done to keep it from taking place.

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What Insurance Do I Need as a Rental Property Owner?

Mar 11, 2020 12:00:00 AM / by Hignell Property Management Team

Property insurance is designed to protect owners and their investment against anticipated business risks, which ultimately create financial losses. Rental property owners know that among the essential business safeguards available to their rental property business is purchasing the right insurance. If you plan to rent out a property to a resident for at least six-months, landlord insurance is highly recommended as it helps you rent the property with greater certainty and confidence.

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Best Practices for Screening Potential Residents

Feb 19, 2020 5:10:00 PM / by Hignell Property Management Team

Potential resident screening is an important part of finding the best residents for your properties. The screening process is essential to help you remove those individuals that could potentially cause you financial losses or property damage in the future. In order to help you with the screening process, here are several best practice methods that you'll want to adopt before having your first interview.

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How to Graciously Raise Your Residents' Rent

Feb 5, 2020 4:46:00 PM / by Hignell Property Management Team

Raising the rent is an often uncomfortable, yet important part of being a property owner. Most property values appreciate over time and you may be losing money if you don’t periodically adjust rent. But, increasing the rent doesn’t mean you have to gouge your renter. There is always a way to do it smoothly while still getting fair market value for your rental. Here are a few tips to help you raise your resident's rent graciously and avoid potential conflict.

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Benefits of Accepting Online Rent Payments

Jan 15, 2020 9:00:00 AM / by Hignell Property Management Team

As a property owner, you have enough on your plate without having to deal with collecting checks or cash from your resident on a monthly basis, logging rental payments in a ledger and depositing these funds into the bank. Accepting online rent payments is a viable option to streamlining this process. Collecting rent payments online saves you time, money and frustration in keeping tabs on incoming revenue from property rentals. Less stress and frustration can lead to a more positive relationship with your residents. Here are just a few of the many benefits you stand to gain from accepting online rent payments.

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Your Rental Property New Year Checklist

Jan 1, 2020 12:00:00 AM / by Hignell Property Management Team

The new year is upon us, and as such people are setting goals, getting gym memberships, and starting new diets.  Ah yes, the new year.  So much anticipation, so much hope, so much planning. In this blog I wanted to lay out a short checklist for you to go through in order to make sure you are doing well with your Chico or Redding rental property.  

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How to Handle Conflict with Your Residents

Oct 17, 2018 11:35:00 AM / by Brent Silberbauer

In the world of property management, it’s inevitable you’re going to have conflict. Many investors get into real estate and believe they are in the property business, but you’re not in the property business – you are in the people business – and having good people skills will be essential to your success. 

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California’s Proposition 10: Flawed Thinking for Rent Control

Sep 25, 2018 11:50:00 AM / by Brent Silberbauer

Someone once said, “The road to Hell is paved with good intentions.” In some cases that is absolutely true. Such is the case with the Affordable Housing Act that will be voted on this November. 

California is undoubtedly in a housing crisis. There are more people who are moving here than housing that’s available. This shortage of housing is causing rents to soar, especially in high demand areas like Silicon Valley and coastal communities.

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You Hired a Property Manager - What's Next?

Aug 13, 2018 12:08:00 PM / by Brent Silberbauer

Working in the industry of property management, I get the opportunity to speak to a lot of owners. Hignell Property Management manages a wide variety of real estate, but often I find myself talking to single-family home owners who are renting out their homes for the first time. They call a little nervous, a little afraid, and have no clue what the process is to rent out their home. Here’s a little about what to expect when renting out your home for the first time. 

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5 Reasons Single-Family Homes Are the Hot New Investment Property

May 31, 2018 1:56:00 PM / by Brent Silberbauer

Since the great recession, the American rental market has seen incredible demand, with 37% of Americans choosing to rent a home as opposed to own. This is the highest percentage since 1965. Currently the fastest growing segment of rental housing is the single-family home. Here are some reasons why this type of rental investment property has never been hotter.

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How Rental Property Managers Can Help You Plan Your Annual Budgets

Jan 24, 2018 3:35:00 AM / by Brent Silberbauer

“If you fail to plan, you plan to fail.”  We have all heard this catch phrase, but few of us are really taking planning seriously.  Whether it applies to our nutrition, retirement, or our investment property, planning takes time and brain power.  At our company we manage many large multifamily complexes and homeowner associations.  Around November of every year you can hear the groans from the managers as they dive into the numbers and reports to get the necessary info to put together the next year’s budgets for the properties.  Is the roof going to last another year? How much do we spend on landscaping? Can we negotiate a better rate with this vendor?  All these questions come up as I peer into the offices of the managers sharpening their pencils and getting their numbers right. 

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Property Manager Tips: Avoid Making Exceptions for Residents

Jan 10, 2018 3:28:00 PM / by Brent Silberbauer

Nobody wants to be the mean guy. As humans, most of us have an innate desire to please people and get on people’s good side. We want to be accepted and liked by those we interact with. It’s just human nature. So, what happens when you’re a residential property manager and a prospective resident asks you to make an exception when they don’t qualify financially for your unit? What happens when your resident shares a sad story of why they are late on their rent? Do you make an exception? Should you be the proverbial “nice guy or gal?” My simple answer, for the most part is…no. Do not make exceptions. Here’s why.

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The Risks of Investing in an Older Chico or Redding Rental Property

Dec 29, 2017 3:42:00 PM / by Brent Silberbauer

There are risks and rewards to every decision in life. Real estate investing is no different. The key to making a good investment decision is weighing out the risks versus the rewards. 

In the world of real estate investment there are many opportunities with older homes. Many of these older homes are one of a kind with all kinds of unique craftsman finishes. After all, they don’t make ‘em like the used to! So, what are some of the risks involved in picking up an older rental property? 

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Basic Concepts for Keeping Your Rental Property Secure

Dec 22, 2017 4:23:00 PM / by Brent Silberbauer

Every 20 seconds in the United States there is a break-in. Unfortunately, we live in a world where bad things happen. Crime is a reality and something that prospective residents will consider when choosing a place to live. I wanted to take some brief moments to share some tips on how to create a safe environment that can help deter crime from your Redding or Chico rental property. 

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Top 10 Services a Property Management Company Should Offer

Dec 13, 2017 4:33:00 PM / by Brent Silberbauer

There are many different property management companies out there. There is half a dozen just in my small town of Chico, CA. Not every property management company will offer the same services so you’re going to want to check and see what exactly will be the scope of services that will be included in your management contract.

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Which Type of Residential Rental Property Investment is Best for You?

Dec 4, 2017 4:40:00 PM / by Brent Silberbauer

I’ve recently been a go-to source of information for friends looking into investment property. There are so many options. How do you know which one is right for you? What are the strengths and weaknesses of each type of property? What are the long term issues that are going to spring up now that you have this property long term? 

These are all great questions, so let’s go through the strengths and weaknesses of each type of property.

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The Pros and Cons of Self-Managing Your Rental Property

Nov 20, 2017 4:49:00 PM / by Brent Silberbauer

As a professional property manager, I speak to investment real estate owners every day. Most are calling because they are tired of managing their own property. Sometimes I get calls for advice about how to handle a situation. The benefit of being in my position is that I get a broad perspective of what it takes to self-manage your own property. I also see the other side of having a property management company manage your property. Today, I am compiling a list of the pros and cons of managing your own property.

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The Most Common Horror Stories I Hear from Rental Property Owners

Nov 15, 2017 8:55:00 AM / by Brent Silberbauer

I work in the world of property management and my job is to interact with real estate investors all day.  It’s a great job. I have many rental property owners who call me not only to ask for quotes on services, but also to ask advice on the local market and decisions they need to make. I get to hear all kinds of stories.  Some are great the others and terrible. Here’s a compilation of the most common horror stories I hear in my position.

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Location: The Secret to Making Your Rental Property Work for You

Oct 18, 2017 9:19:00 AM / by Brent Silberbauer

You have probably heard that there are three rules to real estate: Location, Location, Location. The same is true with where you buy your Chico or Redding rental property real estate. When deciding how much to charge for rent or where you can buy a great rental property you need to first look at location. 

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Rental Property Management Tips: How to Nail the Turnover Process

Oct 13, 2017 9:48:00 AM / by Brent Silberbauer

Turning over a rental property is probably one of the trickiest parts of rental property management. You need to coordinate move-out dates, maintenance, marketing, cleaning, inspections, possibly remodeling and a whole host of other variables. No doubt this takes skill and finesse to nail down a fool proof strategy to turning over rentals. In this blog I’m going to talk to you about developing an excellent strategy that works for your Redding or Chico rental property. 

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The Importance of a Reserve Strategy for Your Rental Property

Oct 6, 2017 9:57:00 AM / by Brent Silberbauer

Stuff happens, and unfortunately if you have a Chico or Redding rental property, this “stuff” will happen to your property. Your lawn will die, your parking area will need to be resealed, gutters will need to be replaced, exterior paint will need to be freshened up, and there’s a winter storm coming where you’ll inevitably receive calls saying that the roof is leaking. This stuff is going to happen. It’s not a matter of if, but when. So, what can you do about it? In a world of deferred maintenance how do you keep your investment looking good and staying profitable? 

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Do THIS and Never Fight Over a Property Management Deposit Again

Sep 22, 2017 10:55:00 AM / by Brent Silberbauer

Much of successful property management is getting qualified residents to rent out your property. But even when you get the sense that you are getting the best residents to move in, you still need to cover your bases when it comes to move-in and move-out paper work. 

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Common Equations to Help You Evaluate Your Rental Properties

Sep 1, 2017 11:31:00 AM / by Brent Silberbauer

If you’re going to win in the world of real estate investing you are going to need to be well informed. You will need to be able to quickly and effectively assess what a property is worth. In order to do this, there are some well-known equations that you’ll want to calculate as you assess the property. Here are some of the commonly used real estate equations. 

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How to Keep Your Rental Properties Filled: The Big Ask

Aug 23, 2017 11:48:00 AM / by Brent Silberbauer

The past few blogs we have been talking about how to keep your Redding & Chico rental properties filled by working on your selling skills. In this competitive market, you need to make sure that you’re using every competitive advantage to fill your vacancies. Developing your selling skills is a great way to get a leg up on the competition without spending any additional income.

We started this blog series with some basic selling skills. Here’s a recap:

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The Key to Filling Your Chico or Redding Rental Property is Selling the Benefits

Aug 16, 2017 12:19:00 PM / by Brent Silberbauer

If you’re just popping into this blog you may have noticed that this is a series of blogs about how to sell your rental units to prospective residents. If you missed the first two, you can check them out by clicking below:

The #1 Question to Ask Yourself to Fill Your Chico or Redding Rental Property

Tips to Understand Your Customer and Fill Your Rental Property 

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How a Rental Property Manager Leverages Technology to Save You Time

Aug 11, 2017 12:27:00 PM / by Brent Silberbauer

Time is your most valuable resource. The age-old adage that you can always make more money, but you can never make more time, is true. As a rental property manager, you need to invest a significant amount of time into your investment property if it’s going to be a viable source of income for you – or hire someone to do it for you.

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Qualities of an Ideal Rental Property Owner

Aug 7, 2017 12:37:00 PM / by Brent Silberbauer

Being in the rental property management industry we get to work with a lot of different investors. It becomes quickly apparent that not all investment property owners are created equal. Some property owners are great to work with and constantly make wise decisions leading to a growing portfolio and happy residents, while others struggle and stress constantly about their investments.

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Can You Choose Who Lives in Your Rental Property?

Jul 19, 2017 12:42:00 PM / by Brent Silberbauer

Do you remember when you purchased your first investment property? Maybe you took a huge risk on a fixer upper. Maybe you rented out the home you lived in for a decade when you upgraded homes as your family grew. No matter how you first got into investing one thing is true among all investors – you have invested a lot of money and you will turn the keys over to someone else. Every investor wants to make sure that the person they hand those keys to is a great resident. 

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How to Deal with a Problem Resident in Your Rental Property

Jun 19, 2017 12:54:00 PM / by Brent Silberbauer

When you first invest in real estate you run a lot of numbers. You want to calculate your Cap Rate, Cash Flow, ROI, projected income, gross rent multiplier, etc. Everything looks good so you pull the trigger.  Great, now you just need to keep your property rented and let the numbers run their course right?  Well, there is one variable that can’t be calculated, and that is people. You are renting to people. And where you find people, inevitably, you will find problems. It’s just the way it is.

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6 Property Management Tips to Successfully Manage College Properties

Jun 7, 2017 1:01:00 PM / by Brent Silberbauer

Over the past number of years, the property management industry has seen a huge rise in activity concerning student housing. It’s been pretty amazing. In our college town of Chico, California there’s no doubt that the highest rents are achieved around our University; and we’re not just talking about a 10 or 20 percent increase to be close to campus. We’re talking a 100 to 200 percent increase in rents for prime locations close to college. It’s been a very fruitful investment for owners as rents have been driven up dramatically faster in neighborhoods within walking distance of the University than other locations in our community. 

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How to Rent Your Chico or Redding Rental Property as Fast as Possible

Apr 5, 2017 1:07:00 PM / by Brent Silberbauer

As a real estate investor, you know that time is of the essence. Typically, most investors I know are highly leveraged. They have a mortgage to pay every single month, and the bank doesn’t accept any excuses as to why you’re late or a month behind. Renting out your Chico or Redding rental property fast is important, and it’s something not every investor thinks about with a new investment.

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Tips to Understand Your Customer and Fill Your Rental Property

Mar 29, 2017 3:53:00 PM / by Brent Silberbauer

In the previous blog post I talked about the importance of not just showing your properties, but selling your rental property to potential residents. I can’t underestimate how important this is. Any company that goes out of business, or loses money does so because they didn’t sell enough of their products or services in the quantities necessary. Selling is an important skill no matter what business you’re in and it’s something that we can all improve on. 

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Why a Professional Rental Market Analysis is a No-Brainer

Mar 9, 2017 2:56:00 PM / by Brent Silberbauer

In this complex world of millions of options and tough decisions it’s nice to come across a no-brainer every now and then. It’s like when you go to your favorite lunch place and they tell you the sandwich you want to order is on special and you can get it for a cheaper price and it comes with a side and a drink included. I love those moments. Sometimes I’ll say out loud “why wouldn’t I do this?” It’s an easy decision.

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The #1 Question to Ask Yourself to Fill Your Chico or Redding Rental Property

Feb 13, 2017 4:59:00 PM / by Brent Silberbauer

If you are actively looking for great residents to fill your investment property then not only are you a property manager, but you are also a salesperson.

Now, being in sales, it would greatly benefit you to know how to develop the skill of selling. So, I’m going reveal the most important question you need to ask to sell something. It’s basic, but very powerful for you to grow your business and get your properties filled quickly. 

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How Rental Property Owners Can Have Good Relationships with Residents

Jan 18, 2017 9:34:00 AM / by Brent Silberbauer

“I want to invest in rental property management so I can meet some nice people and make friends,” said nobody ever. Managing Redding and Chico rental property is a business and must be treated as such. Although nobody has said the statement above, there are plenty of rental property owners who have had similar thoughts in the back of their minds. It’s tough because there are those owners who may have had a bad experience with a property manager and now want to right the wrongs. They want to be the nice manager. 

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Which Type of Flooring is Best for a Rental Property?

Jan 4, 2017 10:56:00 AM / by Brent Silberbauer

The life of flooring in a Chico or Redding rental property can last anywhere from a few years with low grade carpet to decades with high end tile or hardwood floors. Typically, if you’re a long-term rental property owner, odds are you’ll have to replace flooring in your rental. As someone in the rental property management industry, many owners ask me which flooring solutions are the best for rentals. The answer is – it depends. 

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New 2017 California Laws That Affect Rental Property Managers

Dec 28, 2016 10:11:00 AM / by Brent Silberbauer

If you’ve managed property in California for any length of time you understand there are many laws that must be followed or you could end up in some very hot water. These laws are constantly changing every year and you need to be aware of what laws have been passed and what you as a property manager must do to comply with them. There are a number of new laws, but let’s look at two major ones that will affect all rental property managers in the state.

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What Rental Property Managers Need to Know About Bed Bugs

Dec 21, 2016 10:20:00 AM / by Brent Silberbauer

Bed bug infestations have been rising at alarming rates across the nation. In hotels, houses, and apartments there are hardly any places where people sleep that are immune to the effects of these parasitic insects. Unfortunately, if you're a rental property manager of any kind there’s a high chance that you’ll have to deal with the reality of these unwelcome pests. So, it’s time to prepare yourself for that moment when you come face to face with these nasty insects. 

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How New Marijuana Laws Affect Property Management in California

Dec 14, 2016 10:25:00 AM / by Brent Silberbauer

Pot, weed, Mary-Jane, wacky-tobacky, no matter what you call it, recreational Marijuana is now legal in California. For some people, these aforementioned names are cringe worthy and bring up thoughts of commercials on MTV with a man dropping an egg on a frying pan and saying, “This is your brain on drugs.” For others, these names bring up memories of a care-free time in college when they lived dazed and confused. No matter what your stance or view point on Marijuana, if you own investment rental property in California, you’re going to have to get familiar and become educated with this new law. It’s high time we cut through the haze and get some clarity about what this means for you. (I promise, I’ll try to keep the puns to a minimum).

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How Do You Know if a Property Management Company Has a High Capacity?

Dec 7, 2016 10:30:00 AM / by Brent Silberbauer

If you’re in the market for hiring a property management company, you should know that one of the key factors for the kind of service you’ll get is how much the company is capable of taking on – or can handle. Learn why a property management company’s capacity should matter to you here. Now that you’re aware that capacity matters, there are some indicators to help you determine if a management company is beyond its capacity.

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Why a Property Management Company’s Capacity Should Matter to You

Nov 28, 2016 10:38:00 AM / by Brent Silberbauer

Capacity. It’s a word we don’t throw around too often. It’s something I believe most Americans don’t consider enough, and it’s a concept that, if not adhered to, will have a systemic negative effect on any company, organization, or individual.

When people comparing and contrasting management companies ask me “what sets Hignell Property Management apart from other companies?” My response is one word – Capacity. 

Capacity is the ability or power to do, experience, or understand something. It’s also defined as the maximum amount that something can contain. We all know that there’s only so much we can do. Our proverbial plates can only hold so much. When we commit ourselves beyond our capacity, bad things happen. Responsibilities get missed, balls get dropped, and people get let down. 

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3 Mistakes Owners Make with Assistance Animals in Rental Properties

Nov 16, 2016 11:25:00 AM / by Brent Silberbauer

Every investment property owner has a pet policy. Some owners choose to have a strict no-pet policy, others choose to have a pet-friendly policy, while others are somewhere in the middle with a weight limitation or some other limiting factor.

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What a Residential Property Manager Should Do in Emergency Scenarios

Nov 4, 2016 11:43:00 AM / by Brent Silberbauer

Forrest Gump famously said something to the effect of “stuff happens.” If you have been in residential property management for any length of time, you know this is true. From bursting water lines to falling trees, handling emergency situations just comes with the territory. So, what do you do when this “stuff” happens? How should you handle it? Unfortunately, there’s no instruction manual for handling every possible emergency scenario, but here are a few guide posts to help you navigate these difficult situations.

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How to Determine the Rates for Your Chico and Redding Rentals

Oct 28, 2016 12:01:00 PM / by Brent Silberbauer

So you have a rental, but aren’t sure what exactly the fair market price is to rent it out? This is a very common issue for people in the rental property management business. Market prices are constantly changing. In order to fill your units, you need to be on top of how quickly rents are rising or dropping and set rental rates that are reflective of the current market. Currently, in our community, the rate to charge for Chico rentals is rising and it’s hard for most owners to keep up with how fast they’re increasing. 

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Hire a Residential Property Manager & Achieve the New American Dream

Oct 19, 2016 12:04:00 PM / by Brent Silberbauer

If you haven’t noticed, the American dream has changed. Once upon a time Americans dreamed of getting a good job, buying a house, raising their families, and then retiring to a life of playing golf and bird watching. 

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When to NOT Use a Property Management Company

Oct 3, 2016 1:51:00 PM / by Brent Silberbauer

As a full-time sales representative for a property management company, I talk with property owners all day long. Our company, Hignell Property Management, manages over 1,500 residential units, so we’ve seen it all. Whether they’re first time rental property owners looking for some advice or seasoned veterans with multiple commercial and residential units, all come across my desk. In my experience there are people who benefit tremendously from a professional property management service, and those that simply don’t. So, which one are you? 

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8 Benefits of Hiring a Residential Property Management Company

Sep 13, 2016 2:05:00 PM / by Brent Silberbauer

Whether you’re looking for your first piece of investment property or you’ve managed your residential property for a long time, every investor needs to consider the benefits of having a professional residential property management company manage their investment real estate.

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