Building Your 90 Day Plan in Minutes
Earlier this year we saw a total lockdown in the real estate market. With COVID-19 coming into full swing, and many sellers pulling their homes off the market, renters have multiplied and are in overdrive looking for properties to rent. Do we have your attention yet?
If you’ve been following Home Rentals LA, you know about our 30-60-90 day plan for zero vacancies. We have refined it to accommodate the current times.
If you start now, you will be extra ready for the Spring upswing of tenants. Here’s the breakdown:
The New Year will bring a lot of work for landlords and property managers alike in 2020:
Check to make sure your lease agreements are compliant with the most up-to-date California laws.
Attract new tenants to take over upcoming vacancies
Perform yearly maintenance on your property to best market to new tenants
Once the weather starts to warm up, the housing market will start to pick up and people will begin to look for new properties to lease. Home Rentals LA has perfected a system for landlords to get ahead of both administrative and seasonal maintenance of their properties.
During the upcoming Spring, landlords will need to prepare for an increase in rental applications, property viewings, and new leases. By starting NOW, you are setting up your property to attract the BEST tenant for the MOST rent at the LEAST cost to you.
Copy This: 30-60-90 Day Plan
The first 30 days you should focus on:
Talking with your tenants about their rental intentions. Will they stay 6 months or 6 years? It’s important to get all the details so you can plan a better financial forecast for yourself. Most renters move around the first of the month and, depending on your agreement, will be obligated to give 1-2 months notice if they intend on leaving. So chances are, your tenants are already thinking about moving or renewing.
Start planning for your marketing campaign once you realize there's a vacancy coming up. Home Rentals LA assists with virtual home tours (for free!), virtual listings, lease audits, background checks, paperwork, and more.
Review your current leases to insure they are compliant with the most up-to-date (and ever changing) California laws.
Get feedback from your current tenants on property maintenance and repair notices. At the very least, being heard will go a long way for tenants.
Perform exterior inspection of property.
The second 30 days should focus on:
Reaching out to your tenants with a competitive and attractive marketing campaign. The prime time for applicants is 45 days out from the lease term. This means precisely during this time period you should be communicating with your renters. What happens if you don't? You’ll either have to wait another month to fill the vacancy, lower your rent, or settle for a less than ideal tenant. No thanks!
Your lease agreements should already be updated to be compliant with the laws, including any notification requirements - such as the recent mandate to notify tenants of their rights to declare a rent withholding/hardship. Contact us for a free lease audit if you want to ensure you are compliant.
Perform habitable maintenance: start with living issues that may deter lease renewals and new tenants (plumbing, electrical, mold, pest issues, appliances, etc.)
Perform exterior maintenance: start with curb appeal and safety concerns (roof, rain gutters, siding, cracks in pavement, etc.) If it can’t be completed during this timeframe, you’ll be honestly able to say it’s on the short-term to-do list to potential clients.
The third 30 days should focus on:
Property viewings and getting a quality tenant to sign the new lease agreement. Make your move around town! Start utilizing your circle of influence. Market to areas where you believe your ideal client is right now.
Putting in your calendar the next time you have a vacancy coming up and doing it all again.
Finishing up the property maintenance or creating a concrete plan to finish it over the next couple months.
Skip the Work. We Will Do It For You
To prepare yourself for the changes that tend to come with spring (whether it’s new tenants, renewed tenants, or increased maintenance), you should always have a game plan in place. But if all of this is overwhelming, don’t worry. We will create the game plan for you.
Here is what WE can do for YOU:
Analysis of rents in your area to stay competitive while earning the most money.
Lease agreement review and updates for AB1482 compliance, including notification requirements.
Maintenance and property curb appeal reviews prior to marketing.
Free marketing on hundreds of news and real estate sites to attract prime tenants.
Property viewings, background checks, lease signings.
Connection and referrals to a wide professional network for property maintenance and other needs.
Get it done with the least amount of time and money required from you.