Disclosure/ Services
PROPERTY MANAGEMENT SERVICES
Tenant Fee Structure
Leasing Fees are Based on Lease Length, Payment Duties and Vendor Needs.
Signed Lease Fee equals 1 month’s rent
Already have a Tenant?
$100 starts your management services.
Monthly Management fee:
$50 Rent Collection and Income Monitoring (Basic)
$70 Typical Services (Owner Request)
$99 Full Service with Property Bill Payments and Major Rehab/Repair Management
Ask about Multi Unit discounts
Services Offered
*Evaluate the property and determine an accurate rental rate
*Perform detailed documentation of the interior and exterior including photos
*Offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing good ROI.
*Gather data on rental rates in the area and work with owners to determine the optimal rental rate. Rent research will vary, but should include looking at the recently rented comparables according to size and type.
*Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.
*Install a lock box or Supra
*Market the property for rent using the MLS and other syndication's provided by the NAR and MAR
*Prepare home for rent
*Clean home and optimize interior appeal
*Create ads tailored to the property and advertising medium. Some of the mediums commonly used are:
*Paid and free rental listing websites, Print publications, MLS and Fliers
*Work with other Realtors and leasing agents to find a tenant
*Field calls from prospects for questions and viewings
*Meet prospective tenants for showings throughout the week and weekend.
*Provide prospective tenants with rental applications that are legally compliant with fair housing laws
*Collection applications
*Tenant Screening and Selection ( Credit, Eviction/Rental History, Criminal, Employment and Driving Background reports) background checks assist to verify identity, income, credit history, rental history, etc.
*Grade tenant according to pre-defined tenant criteria
*Inform tenants who were turned down or approved
Tenant Move In
*Prep leasing agreement using SLA, IREM and or NAR approved contracts
*Confirm move in date with tenant, all utility companies and owners
*Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance guidelines
*Ensure all agreements have been properly executed and stored for owner access
*Perform detailed move in inspection with tenant and have tenants sign a report verifying the condition of the property prior to move-in.
*Collect first months rent and seconds months rent and or security deposit
Rent collection
*Receiving rent payments: Options available - Online by check draft, debit or credit card, or by mail
*Sending out pay or quit notices
*Enforcing late fees
*Collection and Credit reporting to the three major credit bureaus
*Evictions handled by our Eviction Attorney - (Owner Responsible for Attorney Fees Est. $300-450) Filing relevant paperwork to initiate and complete an unlawful detainer action -Representing owner in court - Coordinating with law enforcement to remove tenant and tenants possessions from unit Legal matters: Advise in the event of a legal dispute or litigation. Refer owner to a qualified attorney when necessary. Understand and abide by the latest local, state and federal legislation that apply to renting and maintaining rental properties.
Inspections
*Perform periodic inspections (Inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc. 4 times a year.
*Send owner periodic reports on the condition of the property
Financial
*Provide accounting property management services available in owner portal
*Detailed documentation of expenses via invoices and receipts
*Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
*Provide annual reporting, structured for tax purposes as well as required tax documents including a 1099 form
*Advise owner on relevant tax deductions related to their rental property
*Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses
Tenant Move Out
*Inspect unit and fill out a report on the property's condition when the client moves out
*Provide tenant with a copy as well as estimated damages
*Provide owner with a balance sheet of the security deposit estimates to the tenant
*Re-key the locks (Owner responsible for Fees)
*Put the property back on the market for rent
Additional Services up to $50 per month add on
*Make payments on behalf of owner (Mortgage, insurance, HOA dues, etc.)
Maintenance, Repairs, and Remodeling
*Provide and oversee an in-house maintenance crew
*Establish a preventative maintenance policy to identify and deal with repair needs
*Provide an network of licensed, bonded and fully insured contractors who have been vetted for good pricing and good work that is up to code.
*Assign jobs to different parties (in-house employees, handyman, cleaners and professional contractors) based on who will do the best job for the best price.
*Provide recommendations on how the project can maximize rental income.
*Get multiple independent bids for the work
*Act as general contractor overseeing the repair work