Q: Are you licensed?
A: Yes, we are licensed by the Department of Real Estate in the state of California.
Q: Am I required to make my property available to Section 8?
A: On July 30, 2018, the San Diego City Council passed an ordinance that will require landlords of properties in the city of San Diego to participate in the Section 8 Housing Voucher Choice Program and other rental assistance programs. Enforcement of the ordinance will begin on August 1, 2019. The ordinance prohibits discrimination on the basis of source of income. While source of income discrimination is already prohibited under California law, this ordinance broadens the definition of source of income to include “rental assistance from any federal, state, local, or nonprofit-administered benefit or subsidy program, or any financial aid from any rental assistance program, homeless assistance program, security deposit assistance program, or housing subsidy program, whether paid directly to the program participant, landlord or representative of either.”
Q: How and when do I get my checks?
A: We know how important your rent proceeds are, and we get your money to you as quickly as possible. Rent proceeds are deposited directly into your bank account by the 10th day of the month (or on the next business day if the 10th falls on a weekend/holiday). Your monthly statement is also available through your online portal at that time. If, for whatever reason, a tenant is late or rent proceeds are collected after our accounting deadline for payout on the 10th, we will process additional distributions later in the month. Payments are always direct-deposited into your account; we do not mail checks.
Q: Where will you advertise my property?
A: We syndicate your listing out to dozens of websites including, but not limited to: Zillow, Trulia, Hotpads, and local Craigslist pages. We will also advertise your property on our website and social media networks. We will schedule and show the property on multiple days at different times to maximize exposure. Remember, our goal is to get you a great tenant in record time.
Additionally, when permitted by the neighborhood, we will place a For Rent sign 30 days prior to the tenant moving out, unless the owner requests otherwise. For a new property, the sign is placed on the date the unit first comes under our management and when it is in show ready condition.
Q: How do you show the property?
A: If a property is occupied, we offer several showing-times to applicants to sign up online, at which time we meet them at the property.
If the property is vacant, we use special lockboxes that allow the tenant to view the property at a time that is convenient for them. We get a copy of their driver license, verify information, and complete a screening process before they receive a single-use code. Making showings easy and convenient for the tenant results in more showings and less vacancy, which puts more money in the owners pocket.
Q: Do I get to see the lease or sign it?
A: All owners will approve terms of the lease before it is presented to the tenant to ensure that we have met all of the owners’ needs. After we have your approval, we will sign the lease as your authorized agent.
Q: How is rent collection handled?
A: Rent payments are always due on the 1st day of each month and are considered late on the 5th. If a tenant moves into a property during the middle of the month, the tenant will owe a full month of rent for the first month, and the rent for the second month will be prorated.
Q: How much security deposit do you charge the tenant?
A: We require the equivalent of one month of rent for a security deposit. In certain circumstances where the tenants do not meet the single security deposit criteria, we have the right to charge up to the equivalent of two months of rent. California law states that when renting an unfurnished property the maximum security deposit is two months of the rent and three months equivalency for a furnished unit.
Q: How soon can you start managing my property?
A: Once we have a signed management agreement, we can usually begin online advertising for your rental within 24 hours. A quick phone call or meeting will get the process started.
Q: What type of properties do you manage?
A: We specialize in Single-Family homes, but also manage duplexes, town homes, small apartment complexes and commercial buildings including strip malls and multi-tenant office buildings.
Q: Who holds the tenant security deposit?
A: Palomar Property Services will hold the security deposit in a Trust Account in accordance with State and California DRE Commission guidelines. At the end of the lease agreement, the security deposit will be itemized and any refund due will be refunded to the outgoing tenant pursuant to these standards.
Q: Do you charge an extra fee if you evict a tenant?
A: Because we complete a thorough pre-screening/screening of our tenants, our eviction rate is exceptionally low. In the rare instance that we have an eviction situation, we work with an experienced attorney to facilitate all aspects of an eviction. Our aim is to make the eviction process as painless as possible and to recover funds quickly and in a manner that aligns with the owners’ best interests. Palomar Property Services does not charge for this process. Any court or legal fees associated with an eviction, however, are paid by the property owner.