They say "Life's a Gamble". Well, maybe. But finding a tenant for your income property SHOULDN'T BE! You need a Property Manager that Specializes in the rental market and can be personally involved with each aspect of renting your property... from locating & screening the tenant and maintaining the property, to collecting and depositing your rental income.
It's An Investment, not a poker chip!
* Is your rental being offered at prices too high? Or just as bad, too low?
* Does it take more than 1 phone call to reach your property manager? Are your calls returned within 30 mins?
* Do you get quarterly written inspection reports & photos?
* Are you notified about any problems, or told BEFORE your money is spent for repairs, etc?
* Do they advertise your property with just one photo and a single-sentence description?
* If your property is currently empty, do you know where the keys are?
* And who's maintaining the unit while it's empty? Did you know that if you get a violation notice that the grass is too long and don't get it cut, Code Enforcement will send someone out to cut the grass for you...and then bill you $250. And now, if you get 3 notices in a 12-month period, they charge you an "administration fee" of $400. Is your prospective or current Property Manager aware of this? Do they stay on top of it for you to ensure you don't get any notices?
All of these are factors in picking the right Property Management company, and getting your property rented with qualified tenants.
You can be sure that your keys are NEVER given to a prospect. Every time someone sees your property, there is a LICENSED Real Estate agent with them. If they decide that they want to move forward, we have them submit the rental application and necessary fees, which begins the extensive background checks.
* Does it take more than 1 phone call to reach your property manager? Are your calls returned within 30 mins?
* Do you get quarterly written inspection reports & photos?
* Are you notified about any problems, or told BEFORE your money is spent for repairs, etc?
* Do they advertise your property with just one photo and a single-sentence description?
* If your property is currently empty, do you know where the keys are?
* And who's maintaining the unit while it's empty? Did you know that if you get a violation notice that the grass is too long and don't get it cut, Code Enforcement will send someone out to cut the grass for you...and then bill you $250. And now, if you get 3 notices in a 12-month period, they charge you an "administration fee" of $400. Is your prospective or current Property Manager aware of this? Do they stay on top of it for you to ensure you don't get any notices?
All of these are factors in picking the right Property Management company, and getting your property rented with qualified tenants.
You can be sure that your keys are NEVER given to a prospect. Every time someone sees your property, there is a LICENSED Real Estate agent with them. If they decide that they want to move forward, we have them submit the rental application and necessary fees, which begins the extensive background checks.
The Services That We Provided
Advertising
- Multiple Listing System
- Numerous "bleed through" websites (like Zillow, Trulia, and others) that pick up the information from the MLS system. All of my listings go out to a network of websites across the country.
- Rental Signs are only placed on the property if you request it. More often than not though, a sign isn't needed because the market is so hot for rentals, we can usually find tenants pretty quickly.
Screening of Tenants
- Credit Report - Prior Eviction Report - Criminal Background Report
- Checking employment & references - Checking previous tenancies
- Sexual Predator check - Bounced checks
Tenant Move-In
- Go over the lease and all addenda and have everything signed
- Do a thorough Move-In Inspection with the new tenants before giving them the keys
Property Inspections
- Randomly scheduled, at least quarterly, with the tenants present, including
a written report for the file and current photos.
- Verify property is being maintained per lease agreement
- Oversee any necessary cleaning or repairs as per management agreement
(If you'd like, I will also add the extra step of emailing the report
and/or pics from that inspection to you.)
Tenant Move-Out
- A repeat of the Move-In Inspection, on the same form (and again, with pictures), to ensure we get the property back in the same condition it was in when we gave it to them
- Oversee any cleaning/repairs needed as per management agreement, and have it ready for the next tenants to move in.
Fees for Services
- The only "up front" money we collect from a property owner is a $250 Operating Fund. It's YOUR money, it's just something we have access to. It's held in an escrow account that is used for things like preparing the house prior to a tenant or minor repairs during a tenancy. The other reason is that we use the banking information from this initial check to set up your direct deposit. Each month, your rental money is deposited straight into your account... there no waiting for the post office to bring the mail.
- Unlike other places, we have an acquisition fee of only 3/4 of month’s rent. This is used for advertising, showing, screening, and all necessary paperwork for the placement of the tenant. And we'll 'front' those costs. This isn't paid until there's a tenant in place. Then it's just deducted from the rent in two installments, so that you still receive a deposit.
- 10% monthly from each rental payment for leases 6 months and 1 day or longer (12% for leases 6 months or less). The more properties you have entrusted to us, the lower the monthly percentage.