Owner Information

In the state of California, the business of being a landlord is highly regulated and landlords are subject to several fair housing rules and codes. With the already tasking responsibility of managing a property, wading through the breadth of rules and regulations can be a tedious and trying task. Besides the abundant codes and regulations, landlords must account for how funds such as application fees are spent and whether or not a property is properly equipped with safety devices, like carbon monoxide and smoke detectors.

Being a landlord carries a great deal of responsibility, and with an abundance of regulations and changing markets, many landlords are turning to professional property managers to manage their portfolio of assets. While there are a variety of concerns when engaging a property management company, the benefits far out weigh the issues that many landlords face when self-managing a property.

Browse through the informative information the Metropolitan Property Services team has assembled thanks to our years of experience and dedication to being the best in our field!

Benefits of Working with a Property Manager

If you have reached this point, and you are still not convinced that Metropolitan Property Services is your best professional property management solution, 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 and offer the best guidance based on our lengthy experience.

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

Credit Checks and Contracts

The details of renting out your property can be tremendously overwhelming and the list of questions on your mind can seem endless.

How am I going to advertise my home for rent? How am I going to show my home? How am I going to qualify the tenants? What notices am I legally required to give my tenants? How will I arrange for repairs? Who will handle emergency repair calls? What if my tenant stops paying rent?

As a professional property management company, Metropolitan Property Services (MPS) is your answer to these questions and more. At MPS we pride ourselves on offering the utmost in care in providing you with the following management services:

  • Market your home on the Internet, in print ads, on flyers, on the MLS, through 800 numbers, and to our database of pre- qualified tenants.
  • Show your property to prospective, pre-qualified, tenants.
  • Screen applicants for credit, income, employment verification, and criminal history.
  • Prepare lease agreement and provide legally required notices.
  • Collect and hold security deposits in our trust account.
  • Conduct move-in/move-out inspections.
  • Collect rent and distribute to owner.
  • Distribute legal notices such as 3-day and rules violation notices.
  • Collect rent and distribute to owner.
  • Distribute legal notices such as 3-day and rules violation notices.
  • Hire and supervise maintenance people and contractors.
  • Maintain and improve your property.
  • And, when your tenant does eventually decide to leave, we can start the whole process over again for you.

Property Preparation Checklist

Getting your rental home ready for tenant move-in can be a tricky process. The Metropolitan Property Services team has assembled a handy list of items that we recommend owners address before handing over possession of a rental property for new tenants.

This checklist will ensure that your tenant is moving into a properly prepared home and in the long run save you time and money on costly repairs. Should you have questions regarding any of these items, or need the assistance of one of our vendors, please contact our office.

  • Market your home on the Internet, in print ads, on flyers, on the MLS, through 800 numbers, and to our database of pre- qualified tenants.
  • Ensure each bedroom and each common hallway has a smoke detector and new batteries, in accordance with California Law.
  • Ensure each common hallway outside bedroom areas has a carbon monoxide detector with new batteries, in accordance with California Law.
  • Water Heater is braced and strapped, in accordance with California law.
  • Fill nail holes, touch up or repaint walls, ceilings and baseboards. Neutral color is recommended.
  • Doorstops are on all doors.
  • Change any burnt out light bulbs.
  • If applicable, ensure that all remotes controllers are left at the property.
  • Garbage disposal is operational.
  • HVAC system serviced and a new air filter installed.
  • All windows open and close properly, have operational locks and no cracked glass.
  • All window treatments are operational.
  • All doors that have locks are operational.
  • Screens (with no tears) on all windows and sliding doors.
  • Sink stops and bath stops are functional.
  • Maid Service – thorough move out clean not just basic maid clean.
  • Carpet Cleaning Service – including pet treatment if prior pets in the home.
  • All keys for the property are given to Metropolitan Property Services, in accordance with your Property Management Agreement.
  • If applicable, gardener name, contact number and day of service has been provided to Metropolitan Property Services.
  • If applicable, Pool and/or spa service name, contact number and day of service has been provided to Metropolitan Property Services.
  • If applicable, mailbox number and carport or parking space number(s) have been provided to Metropolitan Property Services.
  • If applicable, home warranty information provided to Metropolitan Property Services.
  • Ensure that Metropolitan Property Services has your current mailing address, phone numbers and email addresses.
  • If you would like automatic deposit for your rent payments, ensure you have returned the Electronic Banking Form to Metropolitan Property Services.
  • Remove ALL personal belongings from the house with the exception of those items that belong with the house (e.g. touch-up paint, spare tile, etc.).

ANY ITEMS THAT ARE NOT COMPLETED PRIOR TO MOVE IN INSPECTION WILL BE COMPLETED BY OUR VENDORS.

The Importance of the Multiple Listing Service

At Metropolitan Property Services, we have found the Multiple List Service (MLS) to be an unparalleled tool to quickly renting out your property. The MLS you used when purchasing your home, is the same MLS we use when leasing your home.

There are real estate agents who are currently working with buyers and sellers. Sometimes these buyers and sellers decide that the current market condition is wrong for them to buy/sell. So, in order to maintain their agent/ client relationship, the agent will help their clients to find rental homes via the MLS.

Your entry into the MLS will open up the ability for those realtors to find and recommend your property. In addition, the largest real estate websites pull their inventory from the MLS. Your inclusion in the MLS will allow prospective tenants to find your property.

Our experience has shown that the number one obstacle to profitability is the vacancy rate. We always use the MLS when marketing our own properties to get them rented faster and reduce our vacancy rates.

Fees charged for this service are 3% of the total year’s lease amount. For example, if your home rented for $2,000/month, upon rental by another agent, your MLS fee would be $720. That’s only about 1⁄3 of one month’s rent. If the MLS can get your home rented out just 2-weeks quicker, the service pays for itself and puts money in your pocket.

And, most importantly, this fee is only payable if another agent rents out your property. If Metropolitan Property Services leases your property, you do not have to pay the MLS fee.