- ESTABLISH MARKET RENT
- Evaluate the rental value of your investment based on comparable rental properties so that you can optimize your income potential
- Confirm with Owner the amount of rent to be charged to the tenant
- ADVERTISE
- Internet
- Yard signs
- Referrals from Engel & Völkers real estate agents, our owners, and our tenants
- APPLICATION
- Run credit report (on-line) – if borderline, we request co-signer (or additional security)
- Run criminal history report (on-line) that includes Sex Offender List
- Run Evictions Report
- Verify previous Landlord experience
- Verify employment and income
- LEASE CLOSING
- Prepare Lease – All leases are 12 months unless special circumstances that you approve
- Thoroughly explain lease terms to tenant
- Collect 1st month’s rent, security deposit and pet deposit (if applicable)
- PROPERTY SURVEYS
- An initial move-in inspection is done to document the condition of the property with the tenant.
- A letter is sent 90 days prior to expiration date of lease to determine lease renewal
- Anytime maintenance is performed, the Vendor will report any problems he observes
- Unscheduled “ride-by” when Management is in the neighborhood
- RENT COLLECTION
- Rent is due by 5pm on the 5th of every month. After that, late fees are assessed
- All tenants with outstanding rent on the 5th are given a demand notice on the first business day after the 5th
- Dispossessory Warrants are filed on tenants who have outstanding rent on the 10th unless arrangements are made for payment
- If eviction becomes necessary, we handle the entire process – you will always be kept informed during the eviction process.
- Cost of collection fees are charged to the owner
- We handle NSF checks
- OWNER DISTRIBUTIONS
- Owner distributions are submitted by EPay by the 15th of every month. Rent collections after the 15th of the month will be submitted the following month.
- MAINTENANCE
- Our leverage and experience with vendors ensures that you receive maximum value for your maintenance dollar
- Tenants are required to put all non-emergency requests in writing
- Emergency requests are received 24/7 and a vendor/contractor is paged if after hours
- Owner is charged for routine maintenance in the exact amount of the invoice from the Vendor – there are no additional charges from the Management Company
- Owner is notified of all repairs over $300.00 – unless there is an emergency and/or danger to the tenant or property.
- ACCOUNTING
- Monthly statements
- Year-end statements -your tax accountant will love us!
- IRS Form 1099 mailed in January