Property Management

Evaluate the property and determine rent

· Provide recommendations on repairs and cosmetic improvements that maximize rent

· Maintain a list of preferred vendors and coordinate repairs

· Collect owner contribution/payments; online portal available

· Use of Rent Match, recently rented comparables, and other research tools to get competitive rent rates

Market the property for rent

· Ensure the home is clean and appealing

· Create ads tailored to the property and advertise on various websites 

· Work with other realtors and leasing agents to find a tenant

· Field calls from prospects for questions and meet for showings 

· Provide prospective tenants with online rental applications (fee of $25.00)

Tenant Screening and Selection

· Perform automated background check to verify identity, income, credit, criminal history

· Grade tenant according to pre-defined tenant criteria

Tenant Move In

· Write leasing agreement and confirm move in date with tenant

· Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance

· Ensure all agreements have been properly executed

· Perform move in inspection with tenant and have tenants sign a report verifying the condition of the property prior to move-in.

· Collect first month’s rent and security deposit (hold deposit in trust account)

Rent collection

· Receive monthly rent; online portal available

· Hunting down late payments, sending out delinquent notices, enforcing late fees

Evictions/Legal

· 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

· 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 

· Send owner periodic reports on the condition of the property

Financial

· Provide accounting property management services

· Send rental payments to owners; online portal available

· Provide monthly owner statements 

· Detailed documentation of expenses via invoices and receipts

· Maintain all historical records

· Provide tax documents including a 1099 form

Maintenance, Repairs, and Remodeling

· Provide and oversee maintenance and repairs 

· Establish a preventative maintenance policy to identify and deal with repair needs

· Assign jobs to different vendors based on who will do the best job for the lowest price

· Maintain outdoor areas if needed

· Larger renovation or rehab projects – obtain bids, provide cost to owner for approval

Tenant Move Out

· Inspect, provide tenant with estimated damage charges

· Deduct any charges and return the balance of the security deposit to the tenant

· Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in owner reserves 

· Clean unit and perform any needed repairs or upgrades

Our Property Management Fees:

· Standard Property Management fee - 8% of monthly rent collected and 50% of collected late fees

· 50% first month’s rent for tenant placement

· If tenant placement only (with lease document provided) fee is 70% of first month’s rent