Our company has been managing rental properties for over five years. During that time, we have never had any evictions, and our occupancy rate has consistently been over 95%. We believe that one main reason for our success is that we conduct thorough background checks of all our applicants, and coordinate with you, the owner, to ensure you are satisfied with the prospective tenants.
As owners of our own rental properties, we realize that overall return of investment is paramount. That not only means ensuring that your property should be fully rented at competitive market rates, but should also have responsible renters who will take care of your important investment.
Over the years, we have developed a very consistent set of procedures and principles for managing the properties that are entrusted to us.
The Management Agreement
The first step is to discuss your concerns, your investment goals, and what you expect from us as your property manager.
If you do not already own a rental property, we can help you analyze the potential investment and projected return. We can also research and show you projected costs for things like property taxes, HOA fees, etc.
Next step … a management agreement to define our understanding and expectations from each other.
We advertise your property through multiple sources. Our property management software allows us to automatically push listings to a number of national websites:
We also publish your property on our local multiple listing service (MLS), and we occasionally personally know of people who are looking for rentals.
This is probably the single most important step in properly managing your rental property!
Once someone expresses interest in your property, we conduct an initial screening to ensure the safety of your home, and to minimize the number of unqualified applicants.
After the potential renters have viewed the property, they submit an online application. Each adult who will be residing at the property must submit an application. We then conduct full background checks, which include:
- Verification of identity
- Credit check
- Criminal records check
- Eviction history
- SSN validation
- Employment verification
- Prior residence/landlord verification
We also require a meeting with potential tenants before we proceed with approval. Once we have found suitable applicants, we confirm suitability with you, the owner.
The lease is then prepared (by a law firm … real estate brokers are not authorized to prepare legal documents) and signed.
Actually managing your property
On the surface, it may appear that your property manager is just collecting rents and making payments to you. However, a lot is happening behind the scenes:
- Most of our renters may make payments online, through our renter’s portal
- If renters are late submitting payments, we prepare a “3-day notice”. This is the first step in the eviction procedure. (While we have delivered a few of these notices over the years, we have never had to proceed with an eviction)
- Renters can submit workorders via the portal
- Workorders are managed via our portal; we assign contractors and handymen, and follow up to ensure the work is completed
- At your request, we can make regular payments, such as HOA dues, property tax payments, etc.
- Accounting reports are always available to you through the owner’s portal. This means that you can always see income and expenses for whichever period you choose.
- We coordinate tenant relations, such as renewal of leases; move-in/out inspections; security deposit accounting; etc.
- We prepare end-of-year tax reports (1099 forms) for your records.
As your property manager, we take care of a myriad of details (and headaches) so you don’t have to. In the process, we understand the importance of protecting your investment, to ensure you obtain the greatest value and return for your investment. We treat your property as if it is our own!
So, don’t wait … call or email us today!