Ace Property Management

| Serving Orange County, CA
(714) 538-6117

Our Owner FAQ’s

Choosing the right property management company is critical for your success as a real estate investor so it will raise a lot of questions. If you've read through this section we've hopefully answered some of them already, but we've listed the most common questions and their answers here.

If you have a particular residential property management question that we haven't covered, please email us and we will do our best to get back to you within 24 hours.

What kind of Orange County rental properties do you manage?

Our Orange County property management services are catered towards single home & small units, such as single-family rental homes, town homes, condo, duplexes, triplexes, four-plexes to 12 unit rentals.
Back to top

What types of rental properties do you recommend?

The simple answer is quality homes, but that doesn't mean expensive. We look for attractive Orange County properties in good condition that are well located and ready to occupy. Experience shows that quality rental homes will attract quality tenants - better for you, better for us.
Back to top

What locations do you cover?

The Orange County metro area is huge but we do cover all areas. Local knowledge is a vital ingredient when leasing a property, so your property will be put with an agent who has expert local knowledge of the area surrounding your rental home. Please review our home page to find your city.
Back to top

How quickly will you lease my rental property?

The million-dollar question! We can never say with certainty how long it will take to lease a rental home. There are far too many variables that come into play including location, season, price, applicant quality and just being in the right place at the right time. This is a numbers game and to win, you have to have as many potential tenants looking at your home as possible. They can't look at it if they don't know it is there, and advertising is the only way to let them know what you have for them. Rest assured that no other Orange County property management company is more on effective advertising and promotion of rental homes than Ace Property Management. Although vacancies are unsettling, we follow our proven processes until we find the right tenant for your real estate investment.
Back to top

How much will my rental property rent for?

Often real estate investors will set rents based on how much they need to cover their mortgage, or how much they want, or on what they heard another rental home is renting for. These methods almost always create problems. Arriving at the appropriate rent level can be a complex process that must take many factors into account. This is one of many areas where hands-on experience from Ace Property Management makes all the difference.
Back to top

What's the Orange County rental market like, at the moment?

The current housing market is getting a lot of publicity, but the Orange County economy is thriving and record numbers of people are drawn to Orange County metro communities every month. Given the current uncertainty of house prices many new arrivals are choosing to rent, but many homeowners are choosing to rent out their properties rather than try to sell; both parties waiting for the market to settle. There is a lot of competition but there are also a lot of prospective tenants out there. That's why Ace Property Management is the logical choice.
Back to top

What steps do you take to lease my rental home property?

After over 25 years in Orange County rental property management, we know what works and what doesn't. We've developed a comprehensive rental home marketing program that utilizes various print media sources, (OC Register, Penny Saver etc.) bulletin board services, Tenant & Relocation referrals, various Internet sites, etc.
We place ads in the Saturday and Sunday editions of the Orange County Register. We have found that prospective tenants will carry the newspaper with them all week when looking for homes. O.C. Register advertising cost, are passed on to the property owner.
Ace Property Management will place a professional yard sign(s) in the yard of your rental property. Flyers are also distributed in the neighborhood. Almost twenty percent of our inquires come from these yard signs & flyers.
Our advertising does not stop there. We are also very active and aggressive in our Internet marketing. In today's competitive market, we find many of our renters are more comfortable with computers than newspapers and we actively cater to that segment. Ace Property Management networks with several different web sources and that helps keep us at the top of the search engines. Internet marketing cost is a part of the service from Ace Property Management.
Naturally, we also market to local government housing programs, corporations, and relocation departments. If tenants don't see your property, they won't know that it is available- so we make sure that they do!
Back to top

When you find residents for my rental home, how do you qualify them?

    We strive to provide you with the caliber of residents that you want in your rental property. This includes:
  • A complete credit application on each adult resident 18yrs and older.
  • A complete credit report on each adult principal resident or cosigner.
  • A verification of each principal residents social security number.
  • A court search to see if the applicants have ever been evicted in the past 7 years.
  • A search of the 3 major credit bureaus to see if applicants have any outstanding collection accounts.
  • Verification from their former landlords.
  • Verification of their employment.
  • Verification of their income
  • In addition to the normal financial qualifications, we always try to accommodate the housing needs of our residents to ensure the home they rent is convenient to their work, shopping and desired school district. This will help to ensure that they will remain happy residents and remain longer in your rental property.

  • Back to top

How often and how are property inspections conducted?

When your property is vacant, we generally inspect it each week.
The next inspection is done prior to the residents moving in. This is known as the "move in" inspection, where we detail the condition of your property on our move-in inspection form. We also photograph the move in inspection.
We inspect the exterior of our properties on a periodic basis and we also conduct other inspections when requested, or if we determine that an inspection of the property is warranted.
Within 90 days after the residents move in, we contact the residents to re-inspect and to ensure that all is well with your property and your residents. Between the 10th & 11th month of the residents lease, we discuss with the residents their intent to renew their lease for another year. If they are not renewing, then we advise our leasing staff to ensure that we are able to get the home re-rented quickly with little or no vacancy.
When the residents move out of your property we do another detailed inspection known as the "move out" inspection. The move out inspection is done to ensure that the residents returned the rental home back to us in the same condition as when they first rented it. If damage is found, then we impose a claim on the Tenant's security deposit as required by California Tenant/Landlord Laws, if no damage is found, then we promptly return the security deposit to the former residents.
Back to top

What are the terms of your property management agreement?

We are a performance-based company and if your not happy, we’re not happy. Thus we have an easy cancellation policy. During the first 60 days either party may cancel with a telephone call, thereafter "if Ace Property Management does not perform . . .to the owners satisfaction" you may cancel with a 30 day written notice. If your not happy, we’re not happy.
Back to top

What are your Orange County property management fees?

Our standard monthly management fee for a single-family rental home is 8% of the collected rent. Thus if the property is not rented - you don’t pay. If the tenant does not pay rent – you don’t pay. We must have a Tenant and we must collect Rent for us to receive compensation. We are performance based.
We charge a one time set up fee of $100.00 to set up your banking, computerize your account, inspect your property, review (if any) your tenant documents etc. Finally, there is a "lease up" or "acquisition fee" of $350.00. This is a one-time fee for getting you the tenant. Should the tenant fail to complete a year’s lease, we will get you another tenant at no additional charge. This fee is for the credit report (3 major bureaus) verification of the social security numbers, verification of employment and employment income, verification of other stated sources of income, and we make extensive efforts to contact the current landlord, and previous landlord. We will review all information with you to accept or decline any prospective tenants.
Back to top

When will I receive my rental funds?

We pride ourselves on quick turnaround of your rents and statements. We offer "Electronic Direct Deposit" to your bank account. Rent proceeds are deposited into your bank account on the 7th day of each month.
The majority of tenant rent is due on the first of the month; tenants are given till the 3rd, thereafter rent is considered late. On the 4th and 5th of the month we begin to send out the owner checks (we do not wait for the tenants check to clear). Either directly to you or directly to your bank account. We will also send you a monthly statement detailing your account activity, with any original receipts, work orders etc. We can also email the monthly statements directly to your computer.
Back to top

What if a tenant tears up my property?

With our screening program, the chances of this happening are slim. As we market quality rental properties, we attract quality stable tenants. With that kind of tenant, malicious damage is rarely a problem. In the event a tenant does damage to the property, we get the house back in rent ready condition as quickly as possible and re-leased. Once we are clear about the cost of the damage we assist you with obtaining judgments, filing complaints if appropriate, and even collecting on the judgment.
Our office has an excellent system of tracking damage and cleaning costs with our move-in and move-out inspections. We will charge residents for any damage or cleaning related directly to them; however we are very fair and will not charge a resident without merit.
Back to top

What if a tenant needs to be evicted?

Although a rare occurrence, we will handle the process for you through our legal resources. The California statutes provides the framework that must be used to go through an eviction in the shortest time possible. This is one of the most common areas where real estate investors get in trouble by trying to "save money". Great property management doesn't cost money, it pays, and in this case, not understanding the tenant’s rights can cost a small fortune. We keep the tenant if possible, evict if we can't keep them current, and get the house vacant and rent ready as fast as the law allows.
Back to top

Do you get my approval before doing any maintenance work?

Your agreement will outline the parameters for maintenance approvals. When the cost of a repair is expected to exceed the stated limit, you will be contacted for your pre-approval. We negotiate the best prices and the best quality for all types of maintenance, repairs or remodel.
Back to top

Do you guarantee the residents that you place in my rental home?

YES, we provide our property management customers with the following guarantee:
Should any tenants that we place into your rental home move out and break their lease (for any reason), we will waive our normal leasing fee and re-rent your home to new tenants FOR FREE! (Advertising cost excluded)
Back to top

Are you the cheapest company in town?

Probably not. It seems there is a new property management company or Real Estate Agent starting out every day, trying to beat everyone else's prices. Our fees are very competitive and we certainly are not the most expensive. On the other hand, we charge a fair fee for a tremendous service.

    No other residential property management company in Orange offers all of our combined services including;
  • Developing personal relationships with our customers.
  • Radio or pager or cell phone dispatched leasing consultants.
  • Photographed property inspections.
  • Full time career property managers.
  • Our extremely careful tenant selection process.
  • Our leasing fee/tenant guarantee.
  • Our fast rent processing policy.
  • Bi lingual, Bi cultural Staff.
  • We show properties by appointment 6 days a week.
  • Some of the most qualified property managers in America
  • When all fees are considered, for benefits received, we are actually less expensive than most companies around and have been in business since 1981.

  • Back to top

Who handles problems late at night?

Our property managers take turns being "ON CALL" to handle late night calls from our residents. Our 24-hour hot line will take the residents emergency calls and page the manager on call.
Many times we solve problems right over the phone avoiding what might have been an additional maintenance expense.
Back to top

Why should I choose Ace Property Management?

In a word, "Experience". Our customers know that, "Our people make the difference". We believe that the key to our success is in the personal relationships that we have developed with our Owners, Tenants & Vendors over the past 27 years. We are here to serve you and your residents. At Ace Property Management;
We Take Care of Your Property
As it Were Our Own!
Back to top

Misc.

LOCKS:We strongly recommend that all property door locks be changed after each new tenant to insure that all keys are accounted for. This will give the tenants peace of mind and minimize your liability.
LANDSCAPING MAINTENANCE:For units of two or more, exterior maintenance in all common areas is your responsibility. For single-family homes, yard maintenance is your option. As a suggestion, you may wish to pay for yard service and water if the landscaping is an important issue. Even though our lease reads that the resident is to care for the yard, we cannot guarantee compliance (or the residents’ gardening expertise). If during our monthly drive-by inspections it appears that attention is needed, we will remind the resident of their responsibilities. If the problem persists, Ace Property Management will correct it to the best of our capabilities and charge the resident for those services.
APPLIANCES:We suggest you do furnish the stove and refrigerator. Moving large appliances in and out can be hard on doorjambs, carpet, tile and vinyl floors. If the laundry room is not in the garage or near an outside door we suggest you also install a washer and dryer. This is especially so, if the property may be desirable to first time renters, college students, newlyweds, corporate transfers, etc. Any damage to the appliances that was done by the resident will be charged to the resident.
UTILITIES:We recommend that residents pay for natural gas and electricity. Water, trash and sewer are optional, however if you have nice landscaping you may consider offering the home with the water paid as residents may not be willing to pay a high water bill for watering your rose bushes or lawn.
WINDOW TREATMENTS:A unit supplied without window treatments is an invitation to your resident to drill holes in the walls and leave holes behind at move-out. It also encourages makeshift window coverings, such as sheets, blankets or worse. For these reasons, we do require that your property have adequate window coverings before a resident takes occupancy.
FINAL NOTE/THOUGHT/IDEA:As difficult as this may seem, we suggest you keep emotions about the property to a minimum. Think of the mortgage that is being paid by renting it out! Normal wear and tear is to be expected. All damage that may occur can be repaired and anything can be replaced.
All of the above also applies to investment properties. A "return" on your investment is the key word; not the drape that got torn and can be replaced with resident’s deposit money. Our professional opinion on smoking in an investment property is that it be allowed. The important issue is keeping them rented. While it is wonderful to find the perfect, non-smoking, no pet and wishing a one-year lease type of resident; they are few and far between. Allowing pets, smoking and open lease lengths are a sure way of providing an open market and continued income.
There are many considerations to make regarding an income producing property. If you have additional questions, please feel free to contact our office here.
Back to top