PROPERTY MANAGEMENT RESPONSIBILITIES
Our property management experience comes from our personal management experiences of our privately owned properties. Our team members include experienced general contractors familiar with residential construction and code enforcement requirements and our affiliated brokerage service makes for a seamless transition from renting to selling if the need arises or if you’re just exploring new investment opportunities. We’re a small, but efficient company; we pick and choose our clients and will never get so large that we can’t give each property landlord/owners the personal attention they need and expect.
Our services include the following:
We attract a large number of tenant prospects from our advertising, Internet presence, and word of mouth referrals. This gives us the ability to choose a better caliber of tenants. We require Credit Reports, courthouse background checks, previous Landlord references, as well as personal interviews prior to approving any tenant. Move-in and move-out inspections are required and pictures taken to support property condition at time of move-in and move-out.
We handle security deposits, tenant requests, repairs, collections, and all other day-to-day activities of managing our clients’ properties. We can deposit rental income in a Landlord’s account, and even make the monthly mortgage payment, if this is their desire.
Upon a tenant moving out we do a walk thru to take pics and make notes of any repairs and maintenance needed to make ready for the next tenant. We also perform property inspections twice a year for a $50.00 fee and furnish pictures and a report of any maintenance and or repair needs. Our goal is to be proactive and stay on top of any deferred maintenance issues before they get out of hand. Prevention can save many dollars in serious repairs later on.
On rare occasions, a tenant needs to be removed from the property. Non-payment of rent, suspicion of illegal activities, lack of care for the home, or other circumstances that can cause a breach of the lease agreement and may result in eviction. We will handle the court filing and furnish details of the legal process.
Repairs and Maintenance
We us only experienced licensed contractors for all repairs and maintenance and request price quotes from a minimum of two contractors for jobs over $500.00 and more on specialized/unique projects if needed. NO administration fee or overhead is charged on invoices paid on behalf of the owner. Owners have the option of choosing their own contractor for repairs and maintenance and can manage the project without our Involvement if desired. We will arrange access to property and owner’s contractor will bill owner direct.
Our Summary of Services:
- Evaluate Market Conditions and Analyze Comparable Market Rents and Property Features
- Compare Market Rents Annually and Implement Optimal Rate Enhancements
- Extensive Internet Exposure with Real-Time Updates and Photos as Well as Advertisement in Local Papers
- List on MLS, Realtor.com, Homes.com, Carolina Realtors, Craigslist, Trulia, and Many Other Rental Portals
- Prospective Tenant Calls and Inquiries Answered or Responded to 24n
- Professional Attractive Signage
- Provide and Review Rental Applications of prospective Tenants
- Negotiate Terms within Your Parameters and Confer with You if Otherwise
- Screen Prospective Tenant’s Credit and Background (via services offered by one of the three credit providers).
- Conduct Move-In and Move-Out Inspections with Pictures
- Pay Referral Fees to the Real Estate Community for Referring Tenants
- Work Closely with Corporate Relocation Offices for Tenant Placement
- Make Periodic Interior Visits to Observe Condition of the Property
- Maintain Communications with Residents to Foster a Collaborative Approach to Maintenance
- Process All Requests for Services
- Coordinate and Supervise Repairs as Appropriate and/or Through Homeowner Associations
- Provide a List of Qualified Service Providers for Mechanical, Electrical, and Other Issues
- Shop Prices and Services Competitively
- 24 Hour Repair Service
- Inspect Repairs and Services Prior to Payment
- Determine Tenant Charge Backs and Collect to Reduce Cost
- Arrange Warranty Work
- Collect Rent and Tenant Charges
- Pay Maintenance and or Repair Expenses Approved by Landlord
- Disburse Rental Funds by Check or ACH
- Make Reoccurring Payments Such as Mortgages and Association Dues (if necessary)
- Provide Annual Operating Statements for Owners
- Maintain Accounts Receivable Ledgers
- Account for All Security Deposits and Disbursements
- Process Evictions When Required
SCHEDULE OF FEES
* Monthly Property Management Fee
8%, 9%, or 10% of rents collected
Brokerage Fee (find & qualify a tenant)
50% of first full months’ rent
Eviction Fee (does not include attorney if one is desired)
Sherriff’s Lock-Out Fee (includes filing fee, not lock replacement)
Property Inspection Fee (semi-annual)
Returned Check Fee (to property manager from tenant)
Tenant’s Application Fee each (third party credit report)
Lost Key Replacement (from tenant)
Trip Charge to deliver keys (from tenant)
HVAC Filter replacement
Late Rent Fee; collect for landlord (from tenant)
5% of rental rate
* Monthly Property Management fee is 10% for one property, 9% for two, and 8% each for three or more.
Any repeat or ignored repairs and maintenance handled by the property management firm will be billed with a 10% project management fee after the 2nd trip.