The Ultimate Guide to Craft a Concrete Lease Agreement

The Ultimate Guide to Craft a Concrete Lease Agreement

Thinking of renting commercial/residential property? It’s time you learn to draft a lease agreement. It is a detailed legal document intended to protect your basic interests, investments, and your tenants. In short, it is the foundation of cost-effective property management.         

When drafting a lease agreement, you must ensure that all the terms adhere to the landlord-tenant regulations in your region. Using the right resources and support, you can confidently draft a standard lease agreement.

So what are the key points of a solid residential or commercial lease agreement, you ask?
Here are the key aspects all landlords must include:


1. Start and End Date of Lease Agreement

Despite being obvious and one of the first things that come to mind when drafting a lease agreement, many landlords forget to state the start and end date of the agreement, known as the lease ‘term’.

Based on your requirements, you can draft a short-term rental lease agreement or a long-term agreement.

Missing this important clause in the agreement results in dealing with a ‘holdover tenant’ who refuses to vacate the rental property after the lease term has expired, and nobody wants to unnecessarily deal with evicting a tenant.


2. Rent-Related Details

Whether it’s a commercial or residential lease agreement, the second most important thing is the amount of monthly rent the tenant has to pay. Moreover, you should also include other rent-related details, such as:

  • Due date for payment of rent every month
  • Grace period and amount of late fees
  • Acceptable modes of payment (check, bank transfer, online transfer)
  • Charges on bounced checks


3. Security Deposit Terms

Security deposits are important to cover any possible damages or problems caused by the tenant after returning the property. A tenant might believe the property is in good condition when vacating it, but the landlord might think differently.

To avoid any potential misunderstanding and the consequent trouble, include the following terms about the tenant’s security deposit in your lease agreement:

  • Exact amount of the security deposit
  • Terms and conditions the tenant must fulfill to obtain a full refund
  • Terms and conditions under which the landlord may use some or all of the security deposit


4. Names of All Adult Tenants

It is extremely important to include the names of all the adult occupants in the residential lease agreement. Some landlords only mention the name of the person signing the agreement, but this is not recommended and may lead to problems at a later stage.

For example, if you’re struggling with nonpayment of rent and you cannot demand it from other occupants, since their name isn’t in the agreement!


5. Subletting Permissions

It is important to mention whether you allow subletting your rental property. If it is permitted, make sure you devise a clear policy with straightforward rules. For example:

  • The right to reject/accept the sublet rests with the landlord
  • The same qualifying standards hold for the sublet as for the other tenants

If you do not permit subletting, clearly mention it in the lease agreement. Also, notify your tenants before they sign the agreement to avoid any potential consequences.


6. Pet-Related Permissions

Similar to subletting, you can permit or prohibit animals on your property in the residential lease agreement. Have all tenants sign a pet agreement to avoid any future misunderstandings, just in case they decide to get a pet later on.

Here are some important terms to include in the pet agreement:

  • Types of pets allowed
  • Requirement of approval from the landlord before keeping any pets on the rental premises
  • Mandatory for all pet owners to have the required licenses, identification, and vaccinations
  • A pet fee; is for any damage the pet may inflict on the property

NOTE: these rules will NOT apply to occupants with service pets.


7. Landlord Visiting Rules

A landlord must respect the peace and privacy of their tenants; you can’t just enter a tenant’s unit whenever you want.

That’s where landlord visiting rules come in, stating clearly the terms and conditions in your commercial lease agreement under which you can visit your tenant’s unit. These can include:

  • Inspection
  • Showing the unit to future tenants, lenders, or buyers
  • As per official court orders
  • Under suspicion that the tenant has abandoned the unit without notice

Moreover, it is important to notify the tenant at least 48 hours ahead of a planned visit, and an appropriate time must also be considered, most suitably between 8 AM and 5 PM.

At the end of the day, a lease agreement is meant to protect both, the landlord as well as the tenant. You just need to ensure that the document is legally thorough and flexible to safeguard your property, rental income, and formulate positive relations with your tenants.

For any further inquiries regarding lease agreements, or any other property management related queries – Feel free and reach out to Skybridge Property today!

Key Essentials of Property Management

Key Essentials of Property Management

Property management might seem like a relatively easy task, but anyone who owns real estate will tell you otherwise. Property management involves major risks, and that’s why individuals and firms are always looking for ways to ensure a smooth property management workflow.

This article focuses on key property management basics that everyone who owns or deals in property management must master.

But before diving into that, let’s take a closer look at the importance of effective property management. 

The Importance of Property Management

As we said, the real estate industry can be quite tricky; slight mishandling of data or inefficient workflow management can very easily wreak havoc. That’s why effective property management and knowing how to strategize are critical.

Also, staying in touch with the latest developments in technology and otherwise is essential. A professional property manager understands that staying in touch with the ongoing trends in the industry is ideal for lowering potential risks and moving ahead.

Fundamentals of Professional Property Management

Here are 7 key essentials that property managers follow for a smoothly-driven real estate business.

1. Proper Data Management

The most important aspect of property management is managing data securely. Reliable property management solutions can assist in handling customer profiles, information about sellers, properties, and more. They help store and retrieve large chunks of data and support agents and customers to find suitable properties within specified areas.

Moreover, property management solutions offer synchronized solutions to store all manual data-related tasks by syncing their database and portal. Such unified solutions help property managers handle marketing, sales, real estate listing, and lead funnels from a sole platform without having to switch between different tools.

2. Managing Listings

Property listing features are another very important aspect of property management. If property listings are flawed, prospective buyers cannot access the listings they want.

Property management technology allows comprehensive categorization of the property giving interested buyers a quick overview. This includes:

  • Type of property
  • Number of rooms and bathrooms
  • Availability of garage
  • Availability of balcony
  • Other amenities

A property manager must manage these listings along with sellers, brokers, and agents. They should also include additional features like add, delete, edit, approve, and reject properties based on defined parameters.

3. Collecting Rent

The most common ways to collect rent include:

  • Physical cash collection
  • Credit cards
  • Checks
  • Money orders

Even though physical cash collection is quite time-consuming and requires effort to arrange the right amount of money at the right time, the most obvious inconvenience during rent collection comes from personal checks. This is because checks might bounce, often leaving a huge fee that the landlord eventually passes to the tenant.

This is why an online rent collection system should be the preferred method of rent collection. It is a secure payment method solution featuring secure and integrated payment management options.

4. Property Tours

When buyers shortlist properties the next step is scheduling a tour, preferably a physical one. However, the recent pandemic has shown us the importance of virtual tours which can also help buyers better understand and explore properties. This is where efficient tour scheduling comes into play.

Rental property management tours must easily be integrated into a physical or virtual calendar in your property management system, enabling buyers to easily confirm availability and book a tour without having to contact anyone and be put on hold.

5. Sharing on Social Media

You must’ve noticed that we’ve been stressing about using technology in the previous points. That’s because nowadays, using the latest software and providing social media sharing has become more of a necessity and less of an option.

Hence, use different social media platforms such as Facebook, Twitter, and Instagram to display and promote your real estate listings. This way, potential buyers can conveniently access and browse property information, and also share it with others on their social media profiles.

Professional property management also involves providing a location guide when displaying properties on social media. This will help buyers analyze the neighborhood as well. Share a comprehensive explanation about the surroundings, like the nearest landmarks, famous malls, etc., that will help provide a better idea to prospective customers.

6. Simplifying Means of Communication

Making communication easy through omni channel communication (providing various options to buyers to reach you) facilitates property management using a single interface.

Select a property portal that enables you to stay in constant touch with prospective buyers in real-time via multiple modes of communication. This could include:

  • Integrating a ‘live chat’ option for clients to answer their concerns and questions
  • Forward customer contact details to various CTAs allowing buyers to  interact easily

7. Using Analytics for Empowering Your Business

And the last essential element that property management real estate owners abide by is constantly staying updated about current trends. Tracking analytics helps detect effective marketing strategies and potential roadblocks.

You can hire a tech solution provider with a well-arranged admin/customized dashboard that allows setting and saving quick links to widgets. This helps monitor recent activity, counter block, etc., for your designated properties.

Skybridge Property Group is leading the contactless revolution in property management. To learn how we can help you, call us at 909-610-9780.

Things to Avoid When Renting Your Property

real estate background image

Things to Avoid When Renting Your Property

These are the things you must avoid to successfully rent your place out.

Faraaz Hashmi | Skybridge Property Group

By Faraaz Hashmi

Renting a property isn’t just about finding a tenant and earning money. As a landlord, there are plenty of things that you should avoid to keep maintaining your tenants and rental property well. Not because you are the owner of the place and tenants are just renting, you can do everything you want. 

If you’re a first time landlord, here are the things that you should avoid when renting your property, and make your business prosper!

1. Barging in.

Respect your tenant’s privacy. Some landlords or property managers like to check in on their properties frequently to make sure everything is running smoothly. However, you must always remember to respect their privacy and refrain from barging in or stopping by unexpectedly. 

Having a scheduled visit that the tenants are aware of lets them feel more at ease in your property, as they won’t be surprised if someone shows up unannounced at any moment.

2. Sudden increase in rent

Not because you can see that your tenants are really liking the place and expressing appreciation of the place, that you have the right to increase the rent fee any time. Throughout the contract duration, you must adhere to the terms and conditions of your lease.

3. Evict renters because of senseless matters

Keep in mind the terms of the contract at all times. Always act in accordance with the terms that you and your renter agreed to, and avoid evicting a tenant over minor issues. If a situation arises and you must terminate your lease immediately, always be polite and provide an eviction notice to your tenants.

4. Screen tenants based on a biased opinion

Always screen your tenants fairly, regardless of their ethnicity or other irrelevant factors. Being prejudiced and racist is bad for business, and you should demonstrate that your rentals are available to anyone who agrees to the terms and conditions.

5. Charge too much on rental deposits

Don’t only think of what you will gain but what you can also give to your tenants. Avoid charging too much on rental deposits. Most potential tenants back out not because they don’t like the place or can’t afford the monthly rent, but because of how expensive the rental deposit is.

Skybridge Property Group is leading the contactless revolution in property management. To learn how we can help you, call us at 909-610-9780.

2021 Technology Trends in Property Management

Technology Trends in Property Management

2021 Technology Trends in Property Management

Thinking about how to ensure a high return on your investment property? Then this article is for you. 

Faraaz Hashmi | Skybridge Property Group

By Faraaz Hashmi

As modern technology is rapidly taking over the world, many businesses are struggling to cope up with the changes. From the traditional ways of doing things to a more automated and systematic process. These modern technological advancements have had a wide range of effects on the property management sector, from clients to property management firms.

In this blog, Skybridge Property Group will tackle some technology trends in property management that helped the industry be where it is now. Continue reading!

1.    Cloud Computing

Cloud computing refers to the delivery of various services over the internet. Data storage, servers, databases, networking, and software are examples of these resources. 

With cloud computing incorporated into property management, a property manager may now access all necessary information over the internet, eliminating the need to invest in the construction and maintenance of a network. You may save money on IT costs with this technology, and you won’t need to worry about security upgrades because you’ll always have access to the most recent version of your applications.

Out on a vacation but needs to check on assets and other documents? Worry not because cloud computing allows you to access your applications from anywhere at any time as long as you have a connection to the internet. You can also establish client portals with internet access to better service your clients.

2. Business Intelligence

To help firms make more data-driven decisions, they use business intelligence (BI) that incorporates business analytics, data mining, data visualization, data tools and infrastructure. Technically, you’re recognized to have a modern business intelligence when you have a holistic perspective of your company’s data and can utilize it to drive change, eliminate inefficiencies and quickly adjust to market or supplier changes. 

With the help of business intelligence in property management, you will be able to anticipate market conditions to ensure lower vacancy rates. It can also help to analyze past performances and predict trends across areas, and provide insights into performances of different property portfolios. 

Reports wise, you can also generate customized reports on different factors of the business. This way, you and other people working for you will have a better insight of the businesses data, and contribute to a more precise decision. 

3. Artificial Intelligence

Multiple tasks and competing priorities are common for property managers to balance. With limited time and resources, it’s critical to uncover cost-cutting and efficiency-improving opportunities across their portfolios. 

Now, many businesses have started integrating artificial intelligence into their systems and processes. Artificial intelligence can automate communication between renters, landlords and property managers. It can also be used to answer common questions from renters, automatically send emails to subscribers, process maintenance requests and more. 

The wonders of AI aren’t ending there! Artificial Intelligence can also learn in two ways: supervised and self-learning. In some fields such as property management, property managers are encouraged to use supervised learning to ensure stability and a more personalized and precise result. The use of AI in businesses doesn’t suggest that it will take over what the humans are working on, hence help on the operations and save time on tasks.

4. Smartphone Technology

Adopting the smartphone technology has made significant changes through many industries, including property management. There’s just so many ways that these little devices have provided property managers more than what they need. Now, providing mobile payment solutions make it easier for tenants to pay their rent on time, improving cash flow and lowering arrears. Smartphones also enable property managers to improve maintenance processes by allowing tenants to make requests through texts or emails, send leasing applications and process it quickly — which also adds to improving overall customer satisfaction. Money wise, these overall automated innovations help reduce administration costs because workflows are processed automatedly. 

Skybridge Property Group is leading the contactless revolution in property management. To learn how we can help you, call us at 909-610-9780.

4 Things That Can Help Ensure a High Return on Your Investment Property

Investment Property | Skybridge Property Group

4 Things That Can Help Ensure a High Return on Your Investment Property

Thinking about how to ensure a high return on your investment property? Then this article is for you. 

Faraaz Hashmi | Skybridge Property Group

By Faraaz Hashmi

Real estate is always a reliable investment. Yes, the real estate market does fluctuate, so purchasing low and selling high is not always a given. However, real estate provides the best opportunity to generate passive income and build wealth. Owning property and successfully renting it out could easily generate thousands for your yearly income, whether you rent out a room, a whole house, apartments or commercial real estate.

Whether you’re fixing up the property now or waiting until it’s safer to bring in tenants, Skybridge Property Group explains ways to ensure you get the best return on your real estate investment.

1.    Get Your Rental Business Off The Ground

If you haven’t started your rental business yet, there are few preliminary steps that need to be considered. One proven step is registering your newly clad business as an LLC. Not only does a limited liability corporation provide personal liability protection, but it also provides other benefits, including flexible tax options. You’ll also need to appoint a registered agent to act on behalf of the company when dealing with the state. In addition to tax notifications, a registered agent will also handle time-sensitive matters between your company and the state.

Another crucial step is determining where your rental property will be located. Getting advice from an experienced real estate agent can give you insight into what is currently renting and what is not being rented. Your agent can also help you navigate HOA guidelines and local laws that could impact your choice; they will be able to point you toward the right location to fit your investment plans. Having this kind of connection can also lead to future rental prospects. Lastly, pricing your new rental property fairly will guarantee that it’s always booked.

2. Hire a Property Manager

Part of the lure of investment property is that it practically makes money on its own. However, renters require a certain amount of attention, and the property requires maintenance and repairs. In order to alleviate some of the stress that comes with property management and to demonstrate to renters that they will have someone dedicated to managing their property, you can hire a property manager to take care of things. A property manager can help you choose the right tenants, regularly check and maintain the property, and collect the rent from tenants.

3. Make the Property Appealing

Your design decisions will depend on the type of property you’re investing in. Once you have chosen the type of real estate that appeals to you, then it’s time to take pen to paper and define your target tenant. Once you’ve figured that out, you’ll want to design the rental space with their needs in mind. Get to know your market by talking with your real estate agent, neighbors, property managers, similarly-situated investors and local business owners. Researching your potential tenant market will give you insight to what they want, and providing what they want will allow you to charge premium rents and increase your profit.

Depending on your property and target tenant, some design elements you may want to incorporate include:

  • Natural lightingDark spaces can be depressing. Consider opening up spaces by taking out walls and adding large windows in order to let that natural light in (bonus: natural light makes small spaces look larger).
  • Technology — Embrace the 21st century and all smart technology offers: smart locks, smart thermostats, smart lighting, etc.
  • Curb Appeal — The exterior will leave the first and lasting impression. Hire a landscaper to make the exterior chic and modern, update mailboxes and light fixtures, and apply a fresh coat of exterior paint and a statement door to wow renters.
  • Kitchens and Bathrooms — In all rentals (commercial and residential), kitchens are gathering spots, and bathrooms should be clean and beautiful. Start by updating the cabinets, which are attention grabbers in any space.

4. Add the Extra Amenities

Besides a stellar rental property, tenants love the extra perks that make high rents more alluring. You could install an on-site washer and dryer that makes it more convenient for your tenants. Also, installing high speed Wi-Fi, with the cost folded into the rent, makes life a tad bit easier for renters who would not need to worry about installation, monthly fees and removal once they vacate. Moreover, attractive and energy-efficient appliances could potentially be the tiebreaker between your property and the competition. Get the advice of your property manager on what amenities would benefit you and your tenants and still result in a profit.

Whether you already own investment property or are looking to purchase, you have chosen a great strategy to build your wealth. However, the decisions you make post-investment will determine how much return you get. After establishing your business, hire a property manager to keep up with your tenants and the property, and make the property appealing to your target tenants with design upgrades. Then, put the icing on the cake with the bonus amenities that will be sure to give you an advantage over your competitors. You won’t regret the time and money you invest in your real estate.

Skybridge Property Group is leading the contactless revolution in property management. To learn how we can help you, call us at 909-610-9780.

5 Mistakes Real Estate Investors Make When Budgeting for Their Property

stressed-tasks-job-desk-computer | Skybridge Property Group

5 Mistakes Real Estate Investors Make When Budgeting for Their Property

Here are 5 mistakes to look out for when budgeting your property

Faraaz Hashmi | Skybridge Property Group

By Faraaz Hashmi

Rental properties are businesses that you can derive incredible income from. However, let’s not discount the fact that there are also potential losses if you fail to consider your budget. Just like any asset, your real estate investment should be taken care of to provide an increased value over time. Real estate investors have to be realistic in budgeting for costs associated with rental properties’ management.

Most investors just have one purpose — to earn money. And in order to be successful, we need to track our activities and efforts, along with the figures we are getting. So what’s the primary reason of real estate investors’ loss or in the worst case scenario—bankruptcy? Proper management of income is very crucial for every business out there, because getting these numbers wrong will be the root of more mistakes. 

With our experience in property management, we were able to come up with a few mistakes to watch out for and address in Orange County, California:

1. Not budgeting for unexpected repair costs

Repairs are inevitable; therefore, you need to create a budget for repair costs. Allocate a small percentage of the annual rental income for repairs, so when it’s time for emergency fixes, you can take from this part of your budget. If you fail to set up a budget, you might frequently be scrambling around for extra cash. The worst-case scenario involves having to dip into your personal savings.

There are a few repairs that may arise in your rental unit:


Kitchen plumbing

You may need quickly address a kitchen plumbing problem to avoid flooding from the kitchen sink. Faucet leaks and busted pipes might cause undue damage to the kitchen area.


Furnace problems might provide less heating to the property, which can be a hassle for your tenants during winter.

Toilet plumbing

A broken tank or overflowing pipe must be fixed right away.

Electrical system

Circuit breakers can trip and result in power outages. You might need to contract an electrician’s services.


Broken appliances, damaged flooring, peeling paint, and roof holes and leaks might cause major inconveniences to your tenants.

old paint cracking wall 


Missing pickets need to be fixed to retain the attractiveness of your property.

Garage door

Cracks and gaps in the garage door might be troublesome for the inhabitants of your unit.


2. Not accounting for property management costs

Owning a rental property requires in Orange County and other areas taking on heavy responsibilities, as you need to attract tenants and conduct screening. You need to attend to repairs and maintenance and be well-versed in the local and state laws. As such, there are many advantages to hiring a property management company that will help you manage these stressors.

You must carefully select the property manager that will handle your property. Be aware of the fees they charge and the extent of services they provide with each corresponding cost. Here are a few fees that could be incurred with hiring a property manager:

Monthly management fee

Different property managers have different fee structures. Some charge a flat rate per month depending on your property size and expected services. Others will charge based on a percentage of the gross monthly income. This percentage might be lower if they’re managing commercial properties compared to residential units.

Tenant placement fee

Some property managers charge a separate fee for tenant placement. This might go to advertising expenses and screening procedures.

Vacancy fee

When you have a vacant unit, a property manager might charge you a flat rate each month or a one-time monthly rental payment to spend for tenant searches.



Maintenance fee

Depending on the property manager, some might charge this fee to conduct regular maintenance for common areas. In lieu of the maintenance fee, a reserve repair fund might be needed. This is a budget for specific repairs that need to be fixed immediately.

Eviction fee

There may be eviction fees associated with using the services of a property management company for evicting a tenant. This is to pay for court expenses.

Early termination fee

Breaking your contract early with a property management company may require you to pay an early termination fee. You might only be charged for a month’s rental; the company’s policies will determine the additional fees you will need to pay.

3. Not calculating for vacancy expenses

A vacant unit can be costly to manage, but sometimes this can’t be prevented. For example, a tenant may terminate the lease early or may not renew their lease. There are many expenses you have to consider even when the property is vacant:


You still have to make the mortgage payment when the property is vacant. If you don’t have other sources of income to deduct this cost from, it might become a stressful situation.


You are obligated to pay taxes whether or not someone is renting your property.




Even if the bills are lower compared to when someone is renting the unit, you still need to budget for utilities. When you show prospective tenants the property, everything needs to be in proper functioning order, including the electric and water systems.


Absence of rental income won’t excuse you from paying the regular insurance payments for flooding, hazards, and liability for your property.

4. Not factoring for regular maintenance costs

The older your rental property, the more you need to budget for the regular maintenance costs. This will pay off in the long run, since frequent preventative maintenance will lessen emergency repairs and major damages.

Here are some areas to focus on when conducting regular maintenance:

  • Exterior curb appeal
  • Interior common areas
  • Seasonal maintenance (like tree pruning and snow removal)
  • Appliance maintenance
  • Landscaping


  • Painting
  • Flooring
  • Cleaning costs
  • Pest control
  • Inspections
  • Waste maintenance

5. Not budgeting for miscellaneous expenses

Little expenses can quickly add up, and you should consider budgeting for miscellaneous costs. When you’re handling a rental property business, you should account for all expenditure:


When you have vacant rental units, you need to spend money on marketing advertisements to attract potential tenants.

Visiting properties

When you live far from your rental properties, you must budget for transportation costs like vehicle maintenance and fuel. Additionally, there are time costs associated with constantly checking up your properties.


Tax filing and bookkeeping documentation are required paperwork that must be kept updated to run a successful business. There must be an ample budget to hire professionals who will create organized systems to make the transactions easier for everyone.

The Bottom Line

Investors must set up a budget to prepare themselves against inevitable fees and bills associated with owning a property. Hiring an excellent property manager or a property management company is a great investment for first-time investors to help them lower their chances of making commonly made mistakes. Investors in Orange County should select a great property manager who will partner with them to manage their investment property and focus on maintaining an appropriate budget for the rental.

15 Questions to ask your Property Manager

Questions to ask Property Manager | Skybridge Property Group

15 Questions to ask your Property Manager

Are you looking for a Property Management Company? Here’s what you should ask them before you sign the dotted line.

Faraaz Hashmi | Skybridge Property Group

By Faraaz Hashmi

If you are looking for a professional property management company to manage your rental property, you have thousands of property management companies to choose from, one of those is Skybridge Property Group — the best property management company in Orange Country. Here’s a super helpful guide to help you choose the right property management company.

As Skybridge Property Group helped hundreds of homeowners save more time and money through property management on their behalf, we definitely know a good deal about choosing the right property manager.

Great questions lead to great answers. Given our experience in property management industry, we could comfortably write an article titled ’50 questions to ask your property manager’.

But we understand the value of your time and hence we are going to stick with just 15 questions that will help you decide when choosing the right property management company.

Let’s go! Check out the list of questions that Skybridge Property Group has compiled to ask a property manager. We have also weighed in our thoughts on what answer can fit the bill for every question

Questions to ask a Property Manager | Skybridge Property Group

1. How long have you been in business?

If a property management company is at least 5 years into the property management business, it is a great sign. They would be managing hundreds of homes and you will be able to check a decent number of online reviews on Google or Yelp if they have been in business for this time.

This also means that they will get discounted rates from their strong network of service providers for repairs and maintenance saving you more money. 

Keeping your property green and eco-friendly is good for you and for the environment. It also makes your tenants happy.

2. How many homes do you manage?

A great restaurant has many customers. A great product has many buyers. A great property manager manages a good number of properties.

Depending on the size of their team, the number of properties they manage can be a clear indicator of how good they are in what they do.

3. What property management services do you offer?

Most of the property management companies will have an extensive list of services mentioned on their website. As a homeowner, it is important to understand the complete list of tasks that will be handled by the property manager.

Going with a property management company that handles A to Z is the best idea as the whole point of going for a property manager instead of self managing your property is to set it and forget it.

Are you still on the fence on choosing self managing vs property management? – this article will help you evaluate your costs and benefits.

4. Do you manage any rental properties in my area?

It is important to hire property managers who have a thorough understanding of your area or neighborhood.

Their knowledge about your area can be a differentiator when it comes to finding quality tenants quickly by focusing on marketing the positives of your neighborhood.

5. What types of properties do you manage predominantly?

Every property management company has its own strength when it comes to property types. They might dominate one or few categories as most of the properties they manage will fall into those categories.

It is essential to understand their strengths and check if your property falls into those categories as each type of property comes with its own set of property management challenges.

6. How much do you charge per month for Property Management?

Pricing is always a critical factor when it comes to signing the dotted line. The pricing charged by the property management company is inversely proportional to your return of investment from your rental property.

It is essential to understand their strengths and check if your property falls into those categories as each type of property comes with its own set of property management challenges.

Lower the property management fees, higher the savings.

Most of the property management companies will reveal their pricing when you get on a call with them. In this day and age, we feel it has to be transparent and outright displayed on the website.

It can either be a flat fee pricing per month or a percentage of your monthly rental income every month or the greater of the two.

(At Skybridge, we have added a welcome twist to the same. You can calculate your pricing on your own here)

7. Are there hidden charges apart from my monthly costs?

The devil is in the details

In terms of pricing, the little * next to the number holds the key to your surprise bills. Check with the property management company on what are the other standard charges that you can expect from them.

Leasing fee, Tenant Replacement Fee, Inspection Fee, Credit check fee.

Some companies can say they handle everything at a fixed monthly cost, but they might come back in a few months to overcharge on specific services that will eventually increase your costs.

8. How will you find good tenants for my property?

Their answer should educate you on their marketing strategies for filling up a vacant rental unit as well as their action plan on how they find and vet a tenant.

It will definitely include background checks, employment check, credit check as well as previous landlord references.

9. How quickly can they find a tenant?

This question is really important from your perspective as the more time your property remains unrented, the more money you are missing out on.

Especially in the Los Angels and Orange County area where there are a lot of qualified tenants looking for a home to move into, an unrented property is a big no-no.

Many property management companies offer guarantees on how quickly they can find a tenant.

10. Can I cancel my contract if I am unhappy?

Contracts can be a great idea to lay out everything officially but make sure you are not locked with no quick way out into a contract with a property management company.

There should definitely be a way to exit the contract easily if you are unhappy with their services. You should be able to switch to a different property management company instantly.

If their answer is no for this question, RUN

Run GIF | Skybridge Property Group

11. How do you handle service requests?

One of the best benefits of hiring a property management company is that you need not worry about handling the service or maintenance requests of your tenants.

Property managers will handle everything on your behalf. You will need to understand the complete process.

Will you be making the final call when it comes to repairs and maintenance? Do you need an authorization if it’s above a certain number?

Professional property managers will be able to take you through their tried and tested plan when it comes to service or maintenance requests.

12. What is the percentage of vacant units in the properties you manage?

If this percentage is below the market standards for the area, they are a good fit. If it’s higher, it means that they are not the best in the business.

13. Does your team include specialists or generalists?

If they have an in-house legal team, you can stop worrying about all the legal aspects of renting out your property in case things go south.

If they have a marketing expert in their team, it helps in getting the word out effectively about your vacant property and getting a qualified tenant faster.

If they have an in-house accounting team, you can forget about the numbers and taxes as it will be all done for you.

One of the main reasons of going for a property management company is that they will take care of everything professionally instead of you figuring out everything.

So, it is important to work with a team that has experts on board than having a generalist who does everything.

14. Will you help me grow my investment portfolio in Real Estate?

This is a good-to-have as the property managers with a investor mindset will be able to offer practical advice to increase your real estate portfolio as well as bring in vetted opportunities for you to consider.

Great property management companies have their own sources for finding great rental properties in your area that is not yet on the MLS sites.

15. Can you explain Fair Housing Laws?

Seasoned property managers know fair housing laws like the back of their hand. They should be able to answer any questions you might have in the housing laws.

Of course, it is hard for the property manager or the property management company to score 15/15 in this test.

From a homeowner’s perspective, you can decide on what factors are must-haves or good-to-haves and you can make a wise choice accordingly.

May the force be with you.

Self Managed Vs Property Manager – Everything you need to know

Self Managed Vs Property Manager | Skybridge Property Group

Self Managed vs Property Manager

We will break down the costs and value of self managing your property compared to choosing a property manager to do it for you

Faraaz Hashmi | Skybridge Property Group

By Faraaz Hashmi

When you own a commercial property, you can be tempted to manage it yourself in order to save money. It is possible. Self-management can also help you save money. However, in some situations, the expense of hiring a specialist management firm may pay for itself by preventing costly errors. Now, why is learning this important? Learning how self-management and property management by a property manager works is very much important so that you can learn which one is the best for you. This can help you decide whether you can manage your properties yourself or if you need a property manager to do it for you. 

As a customer-focused property management firm in Los Angeles, we meet over 25 homeowners every month and one important talking point during our meetings is the difference between having properties that are self-managed vs homes managed by a property management firm. 

Before we get our hands dirty with the pros and the cons, let’s work out some numbers. 

The Time Factor

The first and foremost thing to be done is to put a $ value for an hour spent by you.

If you are a full-time employee, divide your monthly income by the number of hours you work per month. If you are a freelancer or a solopreneur, the calculation is even easier as you will know your hourly rates.

In Los Angeles, the average household income is $51538.

This is a gross number and it does not include taxes. For the purpose of calculation, let’s assume you are a single earner in your house, and you make $51538 per year and you work 40 hours per week.

Yearly Income – $51538

Approximate Monthly Income = $4294

Approximate number of working hours per month – 160

Hourly Income – $26

If you would like to calculate your approximate hourly income, you can use the calculator below.

Now that we know the $ value for your hours, we can dive into the value and costs of self-management vs property management. 

Your Profit Margin

Numbers GIF | Skybridge Property Group
Credit : Giphy

For a homeowner, the basic profit calculation every month boils down to the following simple equation. 

Monthly Profit = Rental Income – (Mortgage + Expenses)

The expenses entered in this equation is mostly the costs incurred for maintenance or repairs.

What is often overlooked in this equation is factoring the expenses in terms of your time and energy spent as a landlord in managing the property on your own.

Energy spent cannot be measured but the time spent can be easily measured.

Let’s say you spend an average of 8 hours every month to manage your property including trips to your property to collect rent, regular inspections etc.

Assuming your hourly income as $26, you are spending $208 every month for self-managing your property. If you have a couple of properties or more, this cost would go even higher. 

If you still think it’s right up your alley, here are the top four landlord duties you will be taking on when you self-manage your property. 

 1.     Maintenance

 This comes right at the top of the list as the need for maintenance can crop up anytime in your rental property. There is a difference in the way an owner treats his house compared to how a tenant treats the house he lives in. We’ve all been there. 

Apart from the routine maintenance checks to keep the appliances at good condition, you might also have to respond to emergency maintenance requests from your tenants.

 Importance: Let’s say you absolutely love your tenants. For you to retain the tenants, they have to be happy with the property. If they feel there is a delay in attending to their maintenance issues, they will start looking for a new place. This might affect your profits and mortgage payments even if the house remains vacant for just a month.

 Who does it better: Property managers have a significant(unfair) advantage when it comes to maintenance and repairs as they can get great discounts from service providers as they provide the service providers with job orders every month. You can save a lot on the maintenance costs when you work with a property manager.

 2.   Rent collection

On the outset, the collection of rent at the start of every month sounds like a trivial issue. The major cause of any rifts between the homeowner and the tenant is a delayed rent payment.

Instead of wondering why the rent cheque has not reached your mailbox or frantically calling your tenant who is on vacation, you can automate the rent collection using new-age applications.

Importance: Importance of rental income does not require an explanation.

Who does it better: If the homeowner does not mind following up with the tenants every month on delayed rent payments, the odds are just the same for both self-managed homeowners and property managers.


3. Managing the Vacancies

 A vacant rental property does not generate any revenue. As of 2018, only 4% of the rental properties are vacant in the Los Angeles – Orange County.
With limited supply and huge demand, this is great news for a homeowner as there are a lot of tenants looking for a home to rent. However, the competition is not only between the tenants but also between the homeowners (4%) in marketing their property as the best bet in the market.
Importance: When a property remains vacant for a significant period of time, the homeowner is at a disadvantage because he/she is losing money every month. Marketing a property today requires digital marketing skills too.
Who does it better: Property Managers have an edge because it is their day job and they are very comfortable in making the best use of modern day online real estate platforms. They have a huge network and they also work closely with tenants in finding them a rental property. They can play the matchmaker and get your property rented in no time. 

4. Tenant Screening

 Marketing a rental property is just half the job done. You will receive dozens of applications from tenants for your property. You will have to reach out to them and do your due diligence before you hand the keys to your property.
Rental Property Management takes a lot of time as you will have to perform credit checks, background history, job income, eviction history, verify previous landlord references etc. 
Once you are satisfied with the above, you will need to schedule the showing with all the prospective tenants. This takes a lot of time than the above three responsibilities.
Importance: Dealing with a bad tenant can be an emotionally frustrating experience. It is always better to vet and pick a good tenant as tenant retention and renewals becomes much easier in the future. 
Who does it better: If a rental property manager manages 50 rental units, he/she would have spoken to at least 300 prospective tenants to fill these rental units. This experience is invaluable, and their instincts will go a long way in picking the right cherries. As their day job is property management, they do not need to take time off for tenant showings. 
The above four points are the major factors that can impact your decision of taking the self-managed route or hiring a property manager. For the extensive list of the responsibilities of a landlord/ property manager, click here.

Final questions to ponder


1.    How far is my rental property?

If your rental property is far away from your home or work, you will spend a significant time commuting. Factor the time taken each way as well as the fuel costs.

2.    What is the level of support you may receive from your family?

If you can divide and conquer the responsibilities of property management amongst your family members, you are one of the lucky few.

3.    How much is your time worth?

Add up all the hours you will spend every month managing your property and multiplyit with your hourly income.
If the pricing quoted by the property management company is cheaper than that, it is worth choosing a property management company instead of self-management.

4.    What is your ultimate financial goal?


“It is better to work on your business than work in your business

If your ultimate goal is to attain financial freedom faster by multiplying your rental income by increasing the number of investment properties you own, you should focus on that instead of managing the properties.
When you spend a lot of time in managing a property and since it is a very demanding job, you might eventually lose interest in investing more in real estate. The time spent prevents you from working on any of your side hustles.

5.    Are you a process person?

Managing your property on your own requires a lot of processes to be followed to a T. If you are not a process person, you can outsource it to the right property manager and focus on rinsing and repeating your investment journey.
At Skybridge Property Group, we make it even simpler by offering a pricing to homeowners that is unbeatable.

5.6% of your Rental Income or $98 per month (whichever is lower)

You can save a lot by choosing Skybridge Property Group instead of our competitors. We have done the research so that you that you don’t have.
Use the calculator to find out your Monthly savings in Property management costs when you work with us.



Job Description of a Property Manager

Property Manager Job Description | Skybridge Property Group

Job Description of a Property Manager - What do they do best?

Thinking of managing your property on your own? This article is a must-read for Home Owners. 

Faraaz Hashmi | Skybridge Property Group

By Faraaz Hashmi

Are you considering getting a property manager? Maybe you’re considering a career in property management but aren’t sure what the work entails and thinking that you can pull it off. A property manager is a third-party person appointed by a landlord, or a property investor. He is responsible in overseeing the day-to-day operations of a rental property. 

What specifically are the responsibilities of  a property manager?

What does the job description of a Property Manager look like?

What does the Property Manager do?

I can manage my own property. Why do I need someone to do something I can do?

A property manager’s duties can vary greatly, but there are certain tasks or responsibilities that are common to all types of properties. If you are a homeowner and you are pondering on the above questions, here is our detailed take on the responsibilities of a property manager. Let us take a look for a common job description of a property manager.


1.    Property Marketing and Listing

Marketing a product / service in the modern day requires a lot of technical skills and targeted efforts. It is important to stand out in the market when there is so much competition.

It is the same for rental properties too. Tenants look for specific features and amenities when they are looking to rent a home. A property manager will make sure those terms are out in bold whenever it is listed on websites to attract qualified tenants.

It is not just for the tenants to find but also for algorithms to understand and list them in listing websites prominently. It takes a lot of time to master these platforms and play the game right.

Property managers know their way around these platforms as they use them daily to attract qualified tenants to fill vacancies in the properties they manage. It is best to leave it to the experts.

2. Setting the Rent

The Property Manager will be able to help you arrive at the right rent for your property depending on a variety of factors.

By choosing a fair rent, there are greater odds for attracting a good number of tenant applications for your property. They will analyze the location and see the similar properties and their rents to help you arrive at the magic number.

Every year, your property manager will also guide you in revising the rent according to the State and Municipal laws. 

3. Tenant Verification and Vetting

There are good apples and then there are bad apples. It takes a lot of time and efforts to screen through the list of applicants who have expressed interest in renting your property.

A good tenant is a godsend while a bad tenant can be a source of constant worry. Credit checks, reference checks, background checks – leave it all to the property manager. Their experience in this industry and their instincts will go a long way in finding the right tenants for your property.

Great tenants maintain your property like their own and finding such tenants require a special set of skills which are often mastered by expert property managers.

They are the ones who will be dealing with the tenants on behalf of you and so they will look for the best tenants for your property. 

4. Rental Property Showing

We are often in a race against time. 

“Wake up – commute – work – commute – rest – repeat”

Most of us follow this pattern everyday.

As a homeowner, it will be hard for you to be available at all times to show your property to prospective tenants. Especially when you are living away from your rental property, it is really difficult to do the showings. When you work with a property manager, they will take care of the showings on your behalf. They will save a lot of time for you and they will answer all the questions to tenants on your behalf and as we all know, time is money, and because of this, your property management will be a lot easier and convenient since you have someone that you can trust and rely on. 

5. Handling Tenant Concerns

Ever felt relieved after talking to a great customer service agent who solved your burning concern in a jiffy? Do you picture yourself doing the same to your tenant whenever they have a concern?

Handling concerns and solving problems immediately requires a lot of experience. Even if you have relevant work experience in customer support, we are sure you do not want to continue your day job even after coming home.

A good property manager is very resourceful and years of experience in property management has converted them into a ready-reckoner for any queries / concerns. They know the right people for every situation, and they bring them on-board to solve your tenant issues. 

6. Supervision of Repairs and Maintenance

“To err is human, to repair is divine”

Bad quote, right. It is completely natural for a home to require repairs from time to time. What may seem like a small deal to you (as a homeowner) may be the deal breaker for your tenant.

Practically speaking, you may take some time to fix things for your tenant. Every passing day will be a difficult experience for your tenant, and it will lead to friction between you and the tenant.

Enter property managers – they will handle the concerns without even bringing it to your notice. Preventative maintenance of the property to keep it functioning in top condition is one of the key responsibilities of a property manager. 

Property managers are often well connected with top-rated service providers in your locality and they will be able to get stuff done quickly at affordable costs as they will usually get better prices from service providers due to their volume of business from all the properties they manage. 

7. Rent Collection

Money is the most important element in any transaction. Collecting the rent on time requires follow-ups, reminders and lots more. Although most of the tenants will pay up on time, there are always exceptions. It is important.

A property manager will collect the rents every month on behalf of you and transfer it to you as a part of their contract. They will setup a system in place for collecting the rent every month. 

8. Handling the Accounting

This is a no-brainer. There are very few people who are gifted with the love for numbers. They become chartered accountants. Let’s talk about you. Maybe you love them too, maybe not.

How magical it would be to get everything sorted out when it comes to accounting without raising a finger. Property managers can do that for you. One of the major advantages of working with a property manager is the accounting taken care of.

9. Tenant Renewal

“It is far cheaper to keep an existing customer happy and retain them than looking for a new customer”

This is not just true with marketing and customer acquisition world. It holds true even for renting out your property. Great tenants need to be retained. This boils down to their experience of renting your property.

By hiring a good property manager who can address your tenant concerns quickly, the tenants will have a pleasurable and stress-free experience. This will substantially increase the odds of tenant renewal. 

10. Move-out Assistance

When a tenant moves out, the property manager is responsible for inspecting the unit thoroughly and checking for any damages to the property. If there are damages, they will deduct the appropriate charges from the security deposit to be paid back to the tenant.

Once the tenant moves out, they are responsible for cleaning the property and taking care of any needed repairs before they find a new tenant for your property. 

11. Tenant Evictions

There will be instances when things go south like the need for a tenant eviction. It may be because of unpaid rents or breach of contract. Property managers are experienced with handling such situations and they will take the essential steps to file and move forward with the tenant eviction.

12. Regular Inspection of the Property

Inspections lead to findings and findings lead to fixes. In your busy schedule, it is impossible to do inspections of your rental property regularly. Sometimes, you can save a lot of money in repairs and maintenance when you spot problems at the earliest.

Property Managers always schedule routine inspections for the properties they manage. They will bring any concerns to your attention immediately. These concerns when fixed immediately leads to happy tenants and stress-free tenant renewals. Not to forget, the savings of fixing it early.

13. Maintenance of Records

As a single point of contact for everything, your property manager will have a record of every transaction / update with regards to your property.

This includes income, expenses, inspections, leases, complaints, repairs and maintenance requests, maintenance costs, record of rent collection and insurance payments. This data will serve as a central repository of information on everything related to your property. 

14. Capital Improvement Ideas and Execution

Property Managers know exactly what the majority of the tenants are looking for. They work with hundreds of property owners in managing their properties and they speak to over a dozen tenants to find the right one for your property.

Since they act as the bridge between the tenants and the property owners, they understand both the sides of the coin. By making small fixes and improvements to your property based on their recommendations, your property can fetch you a higher rental income thereby increasing your returns considerably. 

Note: The exact responsibilities of the property manager may vary depending on the location, type of the property, their fee structure and terms of their contract.

At Skybridge Property Group, we offer full-service property management services in Los Angeles and Orange County. We have over hundreds of satisfied homeowners who love working with us. You can check their reviews here.

Cities and Neighborhoods we serve : Long BeachSanta MonicaCosta MesaWest HollywoodEast Los AngelesAnaheimYorba LindaAliso ViejoBrea and Dana Point

Property Manager Job Description | Skybridge Property Group
Job Description of a Property Manager