Managing a small multi-family property – such as a duplex, triplex or a fourplex – is quite a bit different from managing a single family home.
That’s because this type of real estate investment is more like a ‘miniature apartment building’. The tenants, maintenance and management are all different, and if you’re not careful, this type of property can easily turn from cash flow positive to cash flow negative in the blink of an eye.
To mitigate this risk, we use only the most rigorous standards to ensure that we rent to only the most qualified of tenants. Esquire Property Management has developed a proprietary, in-house application form to gather as much detail as possible on an applicant. Our background checks include not just the tenant’s credit report but we also gather information on their previous rental record and search for any past or present criminal history.
While still being extremely selective, our #1 goal is to get each and every unit in your property rented fast to qualified tenants. We do this by applying what we like to call a ‘full-court marketing press’.
Well before a unit becomes vacant we advertise it on dozens of websites including the multiple listing service, Zillow, Trulia, and Google – where we are proud of the fact that the search engines consistently rank Esquire Property Management on page 1! In addition to Internet marketing we strategically utilize social media, rental lists, flyers, direct mailers, and traditional ‘for rent’ and ‘coming soon’ signage.
After the tenant has moved into your property, we excel in after-the-rental service. We perform regular inspections both inside and outside of each unit and stay on top of any minor repair issues. Our 24/7 emergency repair hotline for tenants lets us address any major repairs as quickly as possible before they spiral out of control. Esquire maintains a deep list of proven, licensed, qualified and cost-effective vendors who are both loyal and responsive to us, and who are familiar with each property we manage.
Because we’re outstanding marketers, extremely thorough when qualifying a tenant, and take such good care of the tenant after they move in, our unit turn over rate is extremely low. Many people tend to rent from us year after year, and many of our new tenants are referred by existing renters.
But it’s not just tenants we take great care of . . . . At Esquire Property Management we take exceptional care of you as well.
As our client, you will have online access to your account via the Owner Portal on our website, where you can stay current on all billing, work orders, invoices and accounting. At the end of each month you will receive a monthly report with a detailed breakdown of all income and expenses for each of your properties under our management.
We ensure that you are receiving the maximum rent for your property by staying on top of any changes in the real estate market. Esquire maintains memberships in the California Apartment Association, the National Association of Residential Property Managers; and the Ventura County, California and National Associations of Realtors.
In addition to meticulous financial management of your account, you will also benefit from our unique focus on the legal aspects of real estate investing and property management. The co-founder and broker of Esquire is Tracy Lu Guillen, a graduate of the UCLA School of Law. We intimately understand both California and Federal landlord-tenant laws and can avoid problems before they occur.
If you’re considering investing in a small multi-family property, or if you need more professional assistance with a property that you already own, or even if you’d just like some additional information . . . give Esquire Property Management a call today!
Tracy Lu Guillen, Owner & Broker
Carolina Guillen, Owner & Realtor