Mid-year Housing Update

The Union Tribune just published a fantastic mid-year update on the for-sale housing market here; it is full of great charts, stats, and data by zip code.

Earlier this year, I published a report on where the for-sale housing market is trending, and many of those predictions have proven true.

This biggest questions in the market:

Why aren’t prices rising?  Have we hit a peak?

With historically low unemployment and interest rates, we would expect to see prices rising.  And in some neighborhoods, they are (see the great charts in the UT article). In others, prices are down slightly.

So for folks looking to sell their home, move-up, move-down, or get out of the market completely, what is a good strategy?

The conclusions from my article in May still hold:

  • San Diego is a supply-constrained market, which will always put upward pressure on prices

  • Short term blips are not likely to re-create the tremendous buying opportunities we saw in 2008 – 2012

  • Your home is an illiquid asset that you live in – it’s not a stock to trade

  • So if your family circumstance dictate that now is a good time to buy / sell your home, that should be the #1 deciding factor

  • Waiting to time the market is not a winning strategy. 


MV Properties is here to guide our clients through these decisions. We think about real estate obsessively, and create strategies specific to each of our clients’ needs.

If you are thinking about buying or selling a home, let’s talk and develop your strategy for building wealth through real estateMV Properties’ boutique realtors will execute that strategy for you.

About the Author

Keegan McNamara has over 20 years’ experience in all aspects of real estate development, investment, consulting, and management. Mr. McNamara is the owner of www.mcnamaraventures.com and www.mvproperties.com.

Mr. McNamara is a licensed real estate broker and holds an MBA in Finance from UC San Diego’s Rady School of Management, and undergraduate degrees in Economics and English from Occidental College.



Investment Strategies for a Post-Peak Economy

The Single Family Home Market

Part 1 in a Series

Earlier this year I had the honor to host a client appreciation night for MV Properties’ investors, partners, clients, and friends. At the event, I presented “Investment Strategies for a Post-Peak Economy.”

I’d now like to share some of the highlights of that talk, and discuss how we are guiding our clients in executing these strategies – so that they will build long-term wealth for their families.

The Cycle

Before diving into Investment Strategies for a Post-Peak Economy, it’s important to understand the premise of the title of that speech, and what the numbers are telling us about this business cycle.

One of my first lessons in this business is that real estate is cyclical, and that as investors we should do our best to understand where we are in that cycle, and plan accordingly.

So where are we today?  Is it time to buy, hold, or sell real estate?

The first question is easier to answer, so let’s start there.  In this article I’ll discuss the housing market, and then in an upcoming articles, the investment property market.

In San Diego, it is now officially a buyer’s market.  The numbers are in, and for people selling their home it is taking longer, there is more inventory competing for buyers, and we are seeing price adjustments downwards.  As-of this writing, the County-wide pricing is down at least 7% from the peak last summer.

Each neighborhood and market segment will vary slightly from that number, some with greater price cuts, and some with less.

We are still up, very slightly, year-over-year.  But just barely.  Meaning home prices a year ago were 1%-2% higher than today, which sounds reassuring, but the trend is moving downwards:  a year ago prices continued to climb, peaking in the summer of 2018, and then started moving downwards.

So is this the beginning of a correction, or a blip on the radar prior to the summer selling season?

My answer:  it shouldn’t really matter.  Your home is a huge investment, but it is much more than that.  Timing the market perfectly is less important than finding the right home for you, at the right time in your lift.  If I felt another 2007-2011 style price drop was coming, that would change the recommendation.  But I don’t.

At our Client Appreciation Night, I showed the following chart:

MV-chart-v2.jpg

If you had held off buying a home in 1991 because you felt we were at a peak, and wanted to wait for the really great deals to come along, you were right!  But you had to wait for 7 years, as prices bumped along a bottom before turning back up.

And in the meantime, you would have missed 7 years of living in your home. It’s a home, not a share of Apple stock.  A home isn’t just a pure investment! Using economist’s terms, we “consume” our home. That’s a weird way to say that we are building memories, raising a family, and getting to know our neighbors.

But from a purely financial perspective, the buyer who didn’t wait, and who purchased in 1991, built equity through paying the mortgage.  So a buyer’s timing in 1990 wasn’t great, but over the next 7 years they built more equity up than the amount they saved by waiting to buy at the absolute bottom.  They were better off financially not trying to time the market.

And – for those looking to time the market, remember:  we are still at 3.7% unemployment in San Diego. Job growth is what fuels the demand for housing.  As a region, have more available job positions than qualified people to fill them.

So while we are seeing an increase in the supply side, leading to softening prices – and that may continue – the demand side is as strong as it’s ever been.

It is a safe time to buy.  And if your life circumstances dictate that it is time to sell, there are still plenty of buyers.  You just need to adjust your expectations – it’s no longer a frenzied market, with multiple offers the first day.

MV Properties is here to guide our clients through these decisions.  We think about real estate obsessively, and create strategies specific to each of our clients’ needs.

If you are thinking about buying or selling a home, let’s talk and develop your strategy for building wealth through real estate.  

MV Properties’ boutique brokerage has the two best agents in San Diego, Todd and Rena Bell.  They truly appreciate the opportunity to serve you on your journey to wealth building. www.bellteamhomes.com

I personally work with select clients on multi-family property sales and acquisitions. I’ll write more about that market in an upcoming article. I'm also a developer and investor myself, and will discuss the strategies my partners and I are executing.

Reach out to me, or Todd and Rena, today so that we can guide you through a long term strategy of building wealth through real estate.

Next Article, Part 2 in a Series:  The Investment Real Estate Cycle

Professional Property Management vs. DIY – Advice for San Diego Homeowners

Many landlords and rental property owners wonder whether it’s better to hire a property manager or take care of the property on their own. Today, we are explaining why you it’s better for you and your investment to hire a professional property manager.

If you’re an investor and a property owner and you already have rental properties, you know how much work it can be. A professional manager can save you time and resources by finding the right tenants, screening those tenants, making sure everything possible is being done with advertising to ensure the listing is getting out to the widest possible pool of potential tenants and keeping track of market rents in your area and for your particular property type. That is a lot of work in itself.

If there is a unit that turns over, you need carpet cleaners, painters, and other contractors to make the place ready for the market again. Property managers work with the best professionals in the business and you can benefit from the savings that come from our relationships with those vendors.

When a unit turns over, we systematically line up all the repairs and start marketing the unit immediately. We are often able to minimize a vacancy period to a matter of days, whereas most DIY owners/landlords take at least a month to fill a vacancy. Think about that: 1.5 months vacant / 12 months per year equates to lost revenue of 12.5% – that’s less than our management fees! Just by minimizing vacancy periods, our services more than pay for themselves.

The best part of having a property manager working on your behalf is that you get your time back. You don’t want to be called in the middle of the night or over the weekend for an emergency repair. If a hot water heater starts leaking or the air conditioning breaks down, your property manager will get that call and take care of the problem on your behalf. All you have to do is collect a rent check that we wire to you once a month. A good property manager will also provide a full financial statement, including invoices and receipts for every penny that’s been spent. Companies like ours are transparent and efficient. Your CPA will appreciate our reports!

Hiring a professional property manager will earn you extra income on your property. In the first year of operation, even after paying our management fee, our clients have seen their investment income go up an average of between 10 and 30 percent.

We always recommend that you use a professional company to manage your rental home. If you have any questions or you’d like to hear more about the services we provide, please contact us at MV Properties.

How Do I Determine Market Rent for My San Diego Rental Property?

It’s that time again – one of your renters is vacating their unit and you have to make the tough decision of picking a monthly rent for your property. This is a decision not to be taken lightly – if you pick a rent that is too low for the market, you could be leaving thousands of dollars on the table over the life of the lease. But if you aim too high, your unit could sit vacant longer, costing you money every day that it is empty. At MV Properties, we can walk you through the basics of hitting that sweet spot for market rent to maximize the value of your rental property.

Scope Out the Competition

In order to best understand the rental value of your property, you need to get familiar with the other properties your potential tenants may be checking out. Think like a renter; understanding the market comparables is the key to knowing how to price your unit.

Explore other available housing options in the building and nearby, checking popular rental websites such as Craigslist, Trulia, and Apartments.com. Make sure that when you are evaluating a comparable property, you make adjustments for special features that may be different than your property, such as better views or valuable amenities like off-street parking or a gym. Consider which special features may lure a renter to your property – especially your property has something that may be worth charging a little extra.

Call in the Experts

San Diego is a large area full of unique neighborhoods where the rental market can vary greatly from across a few miles. For example, the average rent in 2015 for San Diego County was $1,856 per unit, but if you narrow it down by neighborhood, rents ranged from an average of a whopping $3,334 in Del Mar Heights to a more reasonable $1,180 in Barrio Logan. An important key to pricing your rental property correctly is to tap into the knowledge and experience of a professional property manager.

At MV Properties, we know that understanding the demographics, history, and competing projects in a neighborhood can be crucial to pricing a rental property effectively. A neighborhood like the Downtown market is historically a luxury market that demands high rents, but a glut of new development in 2016 can constrain rents when new rental competition hits the market.

These factors can affect pockets of the neighborhood differently, sometimes changing from one building to the next. Having a knowledgeable, local representative will keep you aware of the fast-moving market and trends that can affect your property’s value.

Pricing Philosophy

Once you have a ballpark figure based on comparable units and an understanding of the market, you should consider your pricing philosophy. San Diego County is one of the tightest rental markets in the Country, with historical vacancy hovering around just three percent.

Because of limited options, rents have been rising steadily in the area, with rents increasing an average of 5.3% between 2014 and 2015 alone. As an owner, that gives you options to follow trends and raise your rents accordingly, or you can raise rents more slowly in order to attract and retain more stable, long term tenancy.  Sometimes, demanding higher rents can beget more demanding tenants!

Let Us Help

Now that you understand the factors that affect market rents, call MV Properties at 888-686-1525 to help you reach your property management goals. From providing up-to-date and in-depth market knowledge to ensuring a smooth and stress-free transition between tenants, we can help maximize your rental investment. Ask a question anytime by emailing keegan@mv-props.com and visit our website to learn more.

About Keegan

Keegan McNamara is the founder of MV Properties, a leading San Diego property management company offering the highest level of service in property management, maintenance, and leasing. His goal is to cultivate long-lasting relationships with his clients (property owners) and their tenants to provide an enjoyable leasing experience. Keegan holds a Masters in Business Administration from the Rady School of Management at UC San Diego and is a Principal at McNamara Ventures, a real estate development, and investment company focused on residential and mixed-use properties.

What is the Cap Rate of Your Property?

What is a Cap Rate?

Simply put, a Capitalization Rate, or Cap Rate for short, is the return on an investment when you divide the Net Operating Income (NOI) by the price you are paying for the property. For example, if you purchased a property for $2 million dollars and produced an NOI of $100,000 annually, it would be considered a 5 percent cap rate.

Net operating income (NOI) is simply the annual income generated by an income-producing property after taking into account income collected from operations and deducting all expenses incurred from operations. These expenses include property taxes, utilities, repairs, maintenance, and property management fees. They do not include debt service, since some owners may pay all cash, while others take advantage of low interest rates and maximize the loan on the property.

What Does a Cap Rate Mean?

Cap rates are often used to compare similar properties that could not be valued using the traditional “Comps” of residential real estate. For example, if I’m looking to buy a home in a specific neighborhood and I’m considering two houses, I can quickly understand the value of the home by seeing what similar sized homes in that neighborhood have recently sold for, and adjusting for things like pools, the age of the home, etc.

However, when evaluating an investment asset, it can be substantially harder to find similar properties and assign a quantitative number to their differences. And since what one is really buying is a future stream of rental cash flows, not a residence to live in, it is necessary to underwrite the expected Yield on the investment. Cap Rates are one measure of investment yield.

A cap rate, as a measure of return, is far more valuable to an investor who may be analyzing two different apartment complexes on different sides of town. By researching the properties’ NOI and dividing by their purchase prices, it is easier to choose which may prove to be the better investment.

Generally speaking, the more desirable and less risky a property, the lower the cap rate and therefore the higher the price relative to the NOI. Today, an apartment near the beach may sell for a 4% cap rate, while properties in secondary markets where the perceived risk is higher will sell for higher cap rates and therefore lower prices.

Cap Rate as a Means to Add Value

One thing we specialize in at MV Properties is identifying ways to add value for our clients and their real estate assets. Most people do not think of cap rates in this manner, but here is an example:

  • We recently added a laundry room to a property that did not have any laundry facilities. The total cost of the addition and the coin operated washer and dryer was $15,000.

  • We were then able to raise rent on all five units by $200 per month – the desirability of the property went up and so the tenants were willing to pay a lot more. Who wants to spend their weekend at a laundromat?

  • We also collect approximately $200 per month in laundry income.

  • The total addition to the property’s Net Operating Income is $1,200 per month or $14,400 per year. The addition pays for itself in just about one year!

  • But even more importantly, that $15,000 addition just added $288,000 in value to the property!

    • Assuming a 5% cap rate of $14,400 / 5% = $288,000.

    • That’s a 19.2X multiple on the invested capital!

    • This is not a subjective valuation like a sales comp – it is the quantitative method appraisers and buyers use to value rental properties.

How Does My Property Compare?

At MV Properties, we are experts at Maximizing our clients’ cash flow, and preserving and enhancing the long-term value of their real estate assets. The large multiplier effect of cap rates means that it is imperative you maximize your Net Operating Income! To get a free benchmark report to see how your property measures up, contact us today!

Do You Have Enough Insurance for Your Rental Property?

Insurance is incredibly important to anyone with assets to protect, especially rental property owners. The wonderful world of insurance is complicated, convoluted, and can be difficult to navigate for those unfamiliar with coverage and gaps. As a rental property owner, it’s important to make sure you hold the right coverage, and that your renters and property managers hold adequate coverage as well.

Insurance for Property Owners

Although most homeowners have a homeowner’s insurance policy, many rental owners may not know if their standard policy covers when their property is rented. Many homeowner’s policies may cover short-term rentals up to a few weeks, but could be voided if the property is not primarily owner-occupied.

The homeowner’s insurance company may deny coverage if your policy does not cover a rental. Policies for rental units have various names depending on the company, but they generally are referred to as dwelling policies, and fall into three categories: DP-1, DP-2 and DP-3.

A DP-1 policy is basic and covers simple things like fire and vandalism. DP-2 policies are broader, and cover named perils like damage from a windstorm, hail, fire or vandalism. Some even have a provision for a collision, such as if a car were to hit the property.

Finally, a DP-3 policy is a ‘special form’ or an ‘open peril’ policy. Unless a peril is specifically excluded, it’s covered. The different policies will also cover the property to different degrees. With a cheaper DP-1 policy, the property may only be covered for existing value, whereas a more broad DP-3 policy would cover replacement value.

Existing value means that you would only be paid what the property is worth, not the full cost to replace it. For example, if the roof were 10 years old, existing value would not pay out the cost to install a new roof, the payout would be written down for the 10 years of age for the damaged roof.

Obviously, a DP-3 policy will be the most comprehensive and provide the best coverage in the case of an emergency, but is likely the most expensive coverage as well. The savings on the less expensive policy could be offset in a tragic event, where the less expensive policy does not cover your lost rental income during a rebuilding period. It’s important for property owners to balance the investment of insurance with a policy that will protect them from catastrophic loss.

What About Your Renters?

Although a comprehensive landlord insurance policy will cover your property in the event of damage, most renters are completely unaware your policy does not cover any of their belongings. If your unit were to burn in a fire, the standard landlord policy would only cover the cost of the structure, not any of the items inside.

For this reason, many landlords require their tenants to maintain a renters insurance policy throughout the term of their lease. Unlike the property policy, renters insurance is generally very affordable, often less than $20 a month depending on the value of the renter’s items. An added bonus of a renter’s insurance policy is that they typically cover the renter’s items regardless of location. So, if their laptop was stolen from the library instead of the rental unit, the policy would typically still cover it. Property owners would have to maintain a separate personal property insurance to get the same amount of coverage.

Even more important for property owners, if a rental unit is damaged due to negligence of the tenant, the landlord can often place a claim on the tenants’ insurance, rather than their own.  For example, if the tenant leaves a stovetop on and burns the kitchen, the claim on their renters policy will save the owner from potentially higher insurance premiums in the future.

What About Property Management Insurance?

After obtaining quality property owner coverage on a unit, most landlords may think they are done with their insurance needs, however, this can be a costly mistake. Professional property management companies often carry insurance that can be extremely valuable in protecting their property owners from lawsuits or damages.

The policies usually include a general liability policy, as well as a professional liability policy called errors & omissions or “E&O”. Property managers, like doctors, lawyers, and architects, need E&O insurance because the decisions they make can cause damages and cost lives if they are negligent.

Even if a property manager properly fixes any outstanding hazards, E&O is still important to defend management and the landlord from litigious tenants, bystanders, or visitors to the unit. The general liability coverage they carry is also extremely important; covering landlords if they’re sued for damages including an indoor fall, an animal bite, or someone slipping on a wet sidewalk.

Working with a professional property management company not only minimizes the danger of liability claims by proactively maintaining your unit, but also by ensuring that you, your tenant, and property management company are fully covered from any dangers that may arise. If you are looking for a fully insured and professional property management company in San Diego, contact MV Properties today!

Let Us Help

If you are concerned about the liability or insurance needs of your rental, call MV Properties at 888-686-1525. From providing up-to-date and in-depth regulatory knowledge to ensuring a smooth and stress-free transition between tenants, we can help maximize your rental investment. Ask a question anytime by emailing keegan@mv-props.com and visit our website to learn more.

About Keegan

Keegan McNamara is the founder of MV Properties, a leading San Diego property management company offering the highest level of service in property management, maintenance, and leasing. His goal is to cultivate long-lasting relationships with his clients (property owners) and their tenants to provide an enjoyable leasing experience. Keegan holds a Masters in Business Administration from the Rady School of Management at UC San Diego and is a Principal at McNamara Ventures, a real estate development, and investment company focused on residential and mixed-use properties.

How is Your Rental Income Taxed?

Income generated from rental properties is still considered income, but is it taxed at the same rate as your paycheck? Rental income is generally considered a passive revenue stream and is subject to special considerations and rules by the Internal Revenue Service (IRS). While it is designated as “passive”, anyone who owns rental properties knows the commitment of time and effort it takes to keep everything running smoothly.

There are many things to consider when it comes to how your rental income is taxed, such as deductions, special allowances, repairs, and improvements. After you factor in any applicable deductions and special allowances, your passive rental income is taxed at a different, usually lower, rate than your active, or nonpassive, income. It is important to consult your tax professionals with questions about your specific circumstances, as we are not CPAs and are not giving tax advice.

Tax Deductions

If you received rental income during the year, there are certain tax deductions you can claim based on rental expenses. You may be able to deduct the cost of repairs, property tax, operating expenses, loan interest, management expenses, utilities, insurance, depreciation, and general maintenance. All those deductions can add up, but be sure you know what qualifies as a repair. The IRS is pretty particular about what it considers a repair versus an improvement.

Repairs can only be deducted in the tax year they were completed and in the event that they are ordinary, necessary, and reasonable in amount. Examples of acceptable repairs you can deduct include fixing floors, leaks, walls, and windows, as well as keeping appliances in working order. Basically, most costs associated with the upkeep of the rental property can be deducted and off-set the amount of taxes you’ll owe on the rental income.

In addition to repairs, any utility payments you cover for your tenants; fire, flood, and mortgage insurance; and loan interest on your mortgage are all sources of tax deductions on rental income. Everyone’s tax situation is unique, so be sure to research which tax deductions are applicable to you and your rental properties. If you skip this step, you could be paying more to the IRS than needed.

Property Improvements

While repairs can be deducted in the tax year they are completed, capital improvements to the property are expensed, and the costs are deductible. But, the difference is capital improvements are amortized over many years. There are different amortization timelines for different types of improvements. Your CPAs can assist you in selecting the correct amortization period. A property management company, like MV Properties, assists your CPAs by providing all the documentation that you need to properly fill out your taxes.

According to the IRS, an expense is considered an improvement if “it results in a betterment to your property, restores your property, or adapts your property to a new or different use.” (1) Some concrete examples of improvements are additions such as bedrooms, a porch, garage, or patio; replacing the roof; adding a security system; heating and air conditioning additions; replacing appliances; and replacing septic systems or water heaters.

Depreciation Deduction

Depreciations are income tax deductions that permit property owners to recover the cost of assets over time. The IRS makes an annual allowance for a property’s deterioration, including normal wear and tear. (2) Depreciation is something that you can get a deduction for in the current year even though you might not have spent money to buy rental property in that year. Depreciation is a huge tax benefit, and it is a non-cash expense that decreases your taxable income. It’s one of the big benefits to owning investment property.

1031 Exchanges

Something else to consider with your properties, is the opportunity to do a 1031 exchange. A 1031 exchange is a swap of one business or investment asset for another. Although most swaps are taxable as sales, if you come within 1031, you’ll either have no tax or limited tax due at the time of the exchange. (3) Special rules apply to depreciable properties in 1031 exchanges. I and my partners at MV Properties work with 1031 experts who assist our clients when there are complications on 1031 exchanges and carrying forward the depreciated basis. Tax law is complicated, and while we are not CPAs, we are happy to work with your tax professional to get all your rental income paperwork in order.

Passive Income Rules

Deductions are not the only way to lower the tax owed on rental income. Passive income is subject to special rules when it comes to taxes. In certain cases you can use passive activity loss to offset your active income, such as your salary.

But, a question we are often asked is, is your rental income still considered passive if you actively participated in managing and repairing the property? According to the IRS, “A rental activity is a passive activity even if you materially participated in that activity.” The only exception being if you are in the real estate business. Rental income is considered active income for real estate professionals. As long as you don’t fall into that category, you can claim the special allowance in regard to your rental income taxes.

How We Can Help

Self-managing your rental property is a huge undertaking and sometimes can seem like another full-time job. We can help alleviate some of the pressure of owning a rental by taking over the day-to-day management and repairs of your property. MV Properties can help you make your passive income truly passive. Call us today to set up a consultation and discover what you can gain by allowing us manage your rental property.

About Keegan

Keegan McNamara is the founder of MV Properties, a leading San Diego property management company offering the highest level of service in property management, maintenance, and leasing. His goal is to cultivate long-lasting relationships with his clients (property owners) and their tenants to provide an enjoyable leasing experience. Keegan holds a Masters in Business Administration from the Rady School of Management at UC San Diego and is a Principal at McNamara Ventures, a real estate development and investment company focused on residential and mixed-use properties.

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(1) https://www.irs.gov/publications/p527/ch01.html#en_US_2015_publink1000218984

(2) http://www.investopedia.com/articles/investing/092415/how-does-depreciation-reduce-my-tax-bill.asp

(3) http://www.forbes.com/2010/01/26/capital-gains-tax-1031-vacation-home-personal-finance-robert-wood.html

Three Steps to Finding Great Tenants in San Diego

Without a doubt, finding the right tenant is the single most important decision you will make in your journey as a rental property owner. A great tenant can mean the difference between your property being maintained and rent being paid on time to overdue rent, lawsuits, or even permanent damage to your unit.  

Many owners select tenants using their gut feeling and then fail to screen them completely, which can open the owner up to risks that are easily avoidable. The key to finding a great tenant in San Diego is to get to know them as well as you can and having a structured verification process.

Thoroughly Vet Applicants

Many property owners believe that “getting a feel” for tenants in person is the best way to select the perfect renter. It’s important to remember that the most likeable person you meet may not be the most qualified.

Lacking a formal process for picking the most qualified tenant can also put you at risk of violating fair housing regulations by creating a perception of racial, gender, or religious bias.  Lawsuits regarding fair housing can be extremely costly and time-consuming. While having a friendly tenant is never a bad thing, it is important to always research each potential tenant’s background and financial history thoroughly before making any decisions.

Do Your Homework

When researching a tenant’s history, you will want to make sure you don’t skip any steps. Cutting corners when it comes to researching your tenant can be a very costly mistake. You’re not only checking to make sure that your tenant has a history of paying bills on time, but you’re also checking references to make sure that past landlords have had positive experiences with your tenant.  

Below are some easy steps to follow to thoroughly vet all applicants:

  1. Call each reference. Many owners will only call one or two people from the list, but you could be leaving valuable information undiscovered, particularly when it comes to calling former landlords.

  2. Run a credit report and go through it in detail. Having less than perfect credit is not an automatic disqualification, but reviewing credit reports is an important step is to see how the tenant addresses any issues that arise.  Do they proactively address and explain their situation? Or do they attempt to hide any potential issues? These are important indications of your tenant’s ability to shoulder responsibility.

  3. Always do a background check. Credit reports and landlord references don’t paint a complete picture and I’ve even heard of owners who only found out that their tenants have criminal histories when applicants for other units search the sex offender registry for the area. Although a potential tenant may be required to notify you if they are a sex offender, other relevant crimes such as burglary or assault don’t carry the same reporting requirements. It’s your responsibility to run a background check to ensuring that your new tenant will not cause unwelcome disturbances in the community.

Get Professional Help

Screening tenants can be time intensive, stressful, and tedious work. Remember that it is important that you follow the same process with every applicant and have clearly defined rental criteria that your tenant must meet. If you need help screening tenants and keeping your process consistent, MV Properties is here to help with our proven tenant screening process. If you want to enjoy the benefits of being a rental property owner without the stress, contact us today at 888-686-1525.  Ask a question be emailing keegan@mv-props.com and visit our website to learn more about our process.

About Keegan

Keegan McNamara is the founder of MV Properties, a leading San Diego property management company offering the highest level of service in property management, maintenance and leasing. His goal is to cultivate long-lasting relationships with his clients (property owners) and their tenants to provide an enjoyable leasing experience. Keegan holds a Masters in Business Administration from the Rady School of Management at UC San Diego and is a Principal at McNamara Ventures, a real estate development and investment company focused on residential and mixed-use properties.