For renters and homeowners, our Residential Property Management Services ensure the highest standard of living.
Setup and Evaluation
- Perform detailed inspection and documentation of the interior and exterior including photos with property owner.
- Offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing good Return on Investment.
- Gather data on rental rates in the area and work with owner to determine the optimal rental rate.
- Discuss with owners the pros and cons of different policies.
- Install a lock box.
Market the Property for Rent
- Coordinate preparation of home for rent.
- Create advertisements, some of the mediums commonly used are:
- Rental listing websites: Zillow, Trulia, etc.
- Provide a 24-hour assistance where prospective tenants can find detailed information about the listing.
- Help prospects with questions and coordinate viewings.
- Showings available for prospects throughout the week and weekend.
- Provide prospective tenants with rental applications that are compliant with fair housing laws.
Tenant Screening and Selection
- Perform a background check to verify identity, credit history, rental history, etc.
- Grade tenant according to pre-defined tenant criteria: credit score, criminal history, and eviction records.
- Inform tenants who are not qualified.
- Draw up leasing agreement.
- Review lease guidelines with tenant and owner regarding things like rental payment terms and required property maintenance by both parties.
- Ensure all agreements have been properly executed.
- Provide tenant opportunity to preform detailed move-in inspection verifying the condition of the property prior to move-in.
- Collect rent.
- Collect and hold security deposit.
- Receive each month's rent, tenant portal set up.
- Filing eviction on late payments.
- Enforcing late fees.
- Filing in small claims when needed.
- Filing liens when possible.
- Coordinating with law enforcement to remove tenant and tenant's 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.
- Perform periodic inspections (inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
- Send owner periodic reports on the condition of the property.
- Provide accounting monthly by the 10th of every month.
- Detailed documentation of expenses.
- 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.
- Refer owner to CPA as necessary for 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.
Maintenance, Repairs and Remodeling
- Establish a preventative maintenance policy to identify and deal with repair needs.
- Provide a network of licensed, bonded and fully insured contractors who have been vetted for good pricing and quality work that is up to code.
- Assign jobs to different parties (handyman and professional contractors) based on who will do the best job for the best price.
- Maintain outdoor areas (typically the tenant's responsibility in single family homes).
- Availability 24 hours a day for emergency repairs via online portal and/or telephone.
- Larger renovation or rehab projects.
- Prepare preliminary cost estimates.
- Get multiple independent bids for the work when necessary.
- Oversee and inspect contractors work.
- Inspect unit and fill out a report on the property's condition when the tenant moves out.
- Provide tenant with a copy as well as estimated damages.
- 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 for repairs.
- Coordinate cleaning unit and perform and needed repairs and/or upgrades.
- Coordinate re-key of locks when necessary.
- Advertise the property on the market for rent.