For Leasing Services we would perform the following:
Market the property for rent
- Prepare home for rent
- Arrange to clean home (if needed) and optimize interior appeal
- Create ads tailored to the property and advertising medium. Some of the mediums commonly used are:
- Paid and free rental listing websites
- Print publications
- Work with other realtors and leasing agents to find a tenant
- Field calls from prospects for questions and viewings
- Meet prospective tenants for showings throughout the week and weekend.
- Provide prospective tenants with rental applications that are legally compliant with fair housing laws
- Collection applications with application fee
Tenant Screening and Selection
- Perform a background check to verify identity, income, credit history, job history, rental history, etc.
- Grade tenant according to pre-defined tenant criteria
- Inform tenants who were turned down
Tenant Move In
- Draw up leasing agreement
- Confirm move in date with tenant
- Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance
- Ensure all agreements have been properly executed
- Perform detailed move in inspection (in writing) documented with photos with tenant and have tenants sign a report verifying the condition of the property prior to move-in
- Collect first month's rent and security deposit by certified funds or cashier's check
Tenant Move Out
- Inspect unit and fill out a report on the property's condition when the client moves out
- Provide tenant with a copy as well as estimated damages
- Return the balance of the security deposit to the tenant less any charges
- Forward any portion of the owner's portion of the tenant deposit to the owner or hold in owner reserves for repairs.
Property Management Services we would perform the following:
Evaluate the property and determine an accurate rental rate
- Perform detailed documentation of the interior and exterior including photos
- Offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing good ROI.
- Gather data on rental rates in the area and work with owners to determine the optimal rental rate. Rent research will vary, but should include looking at the recently rented comparables according to size and type.
- Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.
- Install a lock box and informational sign on the property
- Rental offering input into the CRMLS, with integration into over 300+ webpages
- Receiving rent
- Hunting down late payments
- Sending out pay or quit notices via certified mail along with posting at property
- Enforcing late fees
Evictions (Additional Fee)
- Filing relevant paperwork to initiate and complete an unlawful detainer action with counsel
- Representing owner in court with counsel
- Coordinating with law enforcement for the removal of tenants and tenants in possession of unit
- Advise in the event of a legal dispute or litigation
- Refer owner to a qualified attorney when necessary (pref. Rutan& Tucker)
- 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
- Detailed documentation of expenses via invoices and receipts
- Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
- 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 good work that is up to code
- Assign jobs to different parties (in-house employees, handyman and professional contractors) based on who will do the best job for the best price.
- Larger renovation or rehab projects
- Provide recommendations on how the project can maximize rental income.
- Prepare preliminary cost estimates
- Get multiple independent bids for the work
- Act as project manager overseeing the work