FREQUENTLY
ASKED
QUESTIONS

We specialize in residential single-family homes and townhomes/condominiums in and around North San Diego County area.

We primarily manage residential properties throughout the North San Diego County aera, including: Del Mar, Carmel Valley, Solana Beach, Rancho Santa Fe, La Jolla, Cardiff-by-the-Sea, Encinitas, La Costa and Carlsbad.

Yes. We are happy to take over as your property manager in situations where you may already have a tenant and/or another property manager involved, provided the tenant is in good standing and you have already informed the other property management company of your decision to change, and there are no open tenant and/or landlord legal matters pending.

We provide you with a comprehensive market and rental analysis to recommend a competitive rental rate for you home based on other similar properties in the area. Ultimately, you (the owner) have final say on the listing price. In situations where for some reason the property does not generate significant interest or get rented, we will collaborate with the property owner to determine how adjust our marketing plan. This may include find-tuning our marketing approach, reducing price, etc.

California business of all types must occasionally make program, policy and pricing changes to stay in compliance with state regulatory requirements., tax/labor laws, and market changes. While we do our best to absorb and insulate our clients from these costs, on rare occasion we need to make necessary changes. In these instances, we will be 100% transparent about the adjustment and provide at least 30-days written notice with a complete explanation of the changes.

The owner reserves is a predetermined amount (typically $500) of the property owner's funds that Sea To Summit Property Management holds in our broker trust account as contingency funds for any daily obligations, maintenance and repairs, and emergencies that may occur at the property in a given month. The reserve is funded and replenished each month when rent is received (in order to offset expense items incurred in the previous month). If the expenses exceed the $500 reserve, an owner deposit for the difference will be required to pay for the incurred expenses.

We advise all of our property owners to consult with their insurance agent to ensure they are carrying an adequate landlord/rental property insurance policy. We require proof of proper insurance and that Sea To Summit Properties LLC is named as an additional insured party - which is a standard procedure with insurance companies and should be done at no additional cost to you (the property owner).

Please consult with your tax accountant regarding reporting and handling of rental income on their annual tax returns. Sea To Summit Property Management will provide a gross rental income distributed to you on a 1099 form to the IRS. We will need you social security number for reporting purposes.

Yes, if a property owner resides outside of the State of California, Sea To Summit is required to withhold 7% of the rent collected and submit it to the state tax authorities on a quarterly basis. Withholdings are submitted quarterly by Sea To Summit Properties LLC on the property owner’s behalf to the California Franchise Tax Board with a FTB Form 592, Quarterly Non-Resident Withholding Statement. Before January 31st of the following calendar year, we provide the property owner with a statement showing the total amount of income subject to withholding and the total amount withheld, using a FTB Form 592-B, Non-Resident Withholding Tax Statement.

California State Law requires property owners to disclose any of the following that apply to their property: * Lead-Based Paint * Mold * Asbestos * Bed Bugs * Water Submeters * Carbon Monoxide Detectors NOT Installed * Water Heater NOT Braced * Proposition 65 Warning NOT Posted * Unsafe Swimming Pool and/or Spa Drain Cover and/or Lack of Safety Measures * Death on Property (within Past 3 Years)

Yes. Upon request. We can provide both property owner and tenant references.

Yes. We typically conduct bi-annual property inspections (which are included in the management fees). We do not recommend property landlords/owners be present for the inspections.

Sea To Summit Property Management will obtain owner approval for any expenditures over a set threshold or maintenance limit (typically set at $500-1000). Any minor issues below the maintenance limit will be resolved using our own best judgement. The only exception would be when emergency action is needed to protect the property or the well-being of the tenants.

We keep our property management fees simple and straightforward. Long-Term Leases For long-term leases, we charge a 10% flat rate that is based off of the monthly lease amount. Short-Term/Vacation Rentals For short-term/vacation rentals, our typical fees range between 20-35% of the monthly rental income. In some situations, we will work off of a fixed-rate - a set monthly fee that stays the same regardless of the number of booking a property has per month. Unoccupied Properties For owners with second homes or vacation properties they do not want to lease/rent, but want them professionally managed, we charge a flat rate that typically ranges from $300/month for smaller properties to $500/month for larger estates. Unlike some other property management companies in San Diego, we are transparent about what we charge for our services and will work with you to determine what's best to meet your needs.

No. Sea To Summit Property Management does not charge any upfront fees or start-up costs. The only possible exception is if we are asked by the owner to manage significant home improvement projects.

No. We are committed to providing the highest quality, premium property management services to our customers. We are not interested in competing with discount property management companies or real estate agents who practice property management on the side.

No. There are no property management fees when we are not collecting rent.

We do an initial screening using TransUnion Smart Move - which provides a comprehensive, in-depth view of an applicant's full credit report, criminal report, eviction report and income insights. The report gives us an objective preview of the applicants background. Afterwards we personally talk to past landlords and other references to ask detailed, open ended questions about the applicant's past performance, in addition to interviewing the applicant directly. ** Many of our managed properties are subject to Home Owner's Association (HOA) Covenants, Conditions & Restrictions (CC&R), Rules & Regulations, and ByLaws, which may contain specific restrictions.

3.5 time the monthly rent (Rent-to-Income Ratio).

No. Unfortunately due to the high-level of liability we cannot accommodate these types of requests.

Typically 3-4 days. We encourage our tenants to communication-communicate-communicate with us.

Yes, at the expense of the tenant. We require tenants to add Sea To Summit Properties LLC as an "additional interest" - so that in the event the policy lapses (for any reason), we can be notified.

California State Law specifically allows up to utilize a security deposit for four (4) purposes: 1) Unpaid rent. 2) For cleaning the property, after the tenant moves out, to make the property as clean as it was prior to the tenant's move-in. 3) For repairs and damages, other than normal wear and tear, caused by the tenant or the tenant's guests. 4) If the lease or rental agreement allows it, for the cost or restoring or replacing furniture, furnishing, or other items of personal property (including keys); that are not due to normal wear and tear.

California law requires a tenant's security deposit (less any itemized deductions) to be returned within 21 calendar days.

To keep your property well maintained, Sea To Summit will oversee regular maintenance of the property, in addition to repairs. This may include: HVAC, plumbing, electrical, landscaping, etc. We typically notify the owner of work we believe needs to be done, discuss options, and collaboratively determine the best course of action. Then we take care of the rest.

We advise owners to set aside 10-15% of the owner distributions for regular, ongoing and unexpected maintenance and repairs. In some cases, depending on the age of the property, how well it was maintained, etc., it could be more or less. At the end of the year, we do a comprehensive review with the owner to determine how the previous year went, in addition to planning and preparing for the upcoming year.

No. All third party service fees are passed through with no mark-up or add-on fees. CAUTION: Many property management companies will utilize maintenance and repairs as an additional "profit center" for their company. We do not.