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EVALUATE THE PROPERTY AND DETERMINE AN ACCURATE RENTAL RATE
- Perform detailed documentation of the interior and exterior including photos
- Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.
MARKET THE PROPERTY FOR RENT
- Prepare home for rent
- Create ads tailored to the property and advertising medium. Some of the mediums commonly used are:
- Paid and free rental listing websites
- Work with other realtors and leasing agents to find a tenant
- Meet prospective tenants for showings throughout the week and weekend.
TENANT SCREENING AND SELECTION
TENANT MOVE IN
- Perform a background check to verify identity, income, credit history, rental history, etc.
- Attorney does leasing agreement
- Confirm move in date with tenant
- 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 month’s rent, security deposit and last month’s rent.
- Receiving rent
- Hunting down late payments
- Deliver 3 day notices
- Filing relevant paperwork to initiate and complete an unlawful detainer action
- Representing owner in court
- Perform periodic inspections on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
MAINTENANCE, REPAIRS, AND REMODELING
- Provide accounting property management services
- 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
- Establish a preventative maintenance policy to identify and deal with repair needs
- Maintain and monitor a 24 hour emergency repair hot-line
- Larger renovation or rehab projects
- Provide recommendations on how the project can maximize rental income.
- Get multiple independent bids for the work
TENANT MOVE OUT
- Inspect unit and fill out a report on the property’s condition when the client moves out
- 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.
- Clean unit and perform and needed repairs or upgrades
- Re-key the locks
Call us today and ask us about our management fee deals!
We are always looking for properties to take on!!