What Do We Do To Earn Our Management Fee?
Glad you asked. Most people think we simply collect rent, take a percentage of the rent, get rich, buy and island, and live the good life. The reality is the following:
- We start our work before we even talk to you. Your tax record and MLS listing from your purchase are pulled once we have your address. From there, we know your house, neighborhood, value, and sometimes even known problems within the neighborhood related to the construction of your house.
- We guide you through the exit process and what we call the “make ready”. We offer you the services of our cleaning crew, handyman, painters, carpet guy, etc.
- We market the home to attract quality renters using a clean product and a mixture of , professional photography, video tour, signage, and postcards.
- We receive, review, and approve or deny applications. (This is a biggie)
- We collect the rent and distribute the proceeds to you.
- We keep awesome books on the property with easy to read statements sent monthly.
- We conduct a move in that is thorough and we will have a wealth of information on file as to the condition of the property when the tenant takes possession.
- We send monthly reminders to the tenants with information related to the seasons, weather events, air filters, tips, and more.
- We handle the people side of things so you don’t have to. Sometimes, tenants can be a little testy and we know how to diffuse situations like that.
- We handle the maintenance coordination of the property. All of it.
- In the event of a need for an insurance claim, we handle the WHOLE process for you.
- At approximately six months into the lease, we visit the property inside and out to be sure the property is in good shape and the tenants are doing their part to keep it in good shape. You will get a detailed report.
- In the event of an HVAC situation that will take longer than a day or two, we take window units and portable heaters to the property to ensure their comfort. This is at no cost to you and its one of the little things that make us different.
- We manage lease compliance with regard to Key dates and see to it that the owners and tenants are aware of their obligations with regard to renewal and termination of the tenancy.
- In the event that we must evict someone (Only happened 3 times in over 770 transactions in 9 years) we will process that on your behalf.
- We work with our Lawyer if needed on situations that may come up in the tenancy. (You have more fingers than times we have had to take legal action in over 770 transactions in 9 years)…that’s good.
- We send out mandatory tax documents to you and again provide you with a portal which holds all invoices, statements, etc. Your accountant will love us.
- We process the notice to vacate from the tenants and direct them on moving out to our standard.
- WE conduct the move out inspection and if need be coordinate the maintenance for any issues that they may be responsible for.
- We make sure the utilities are always on and that the heat/air is set at a reasonable temp for vacancy.
- In the event of a vacancy in extreme cold (Polar Vortex..ugh) we make sure the vents are closed, heat is set to an appropriate temp, cabinets to faucets are open, drips are in place. If you prefer, we can have the property winterized (we will give you the pros and cons) Basically, we give a dang.
- We get the property back on the market quickly if its ready or we get the property ready to go back onto the market as quick as we can.
- At the end of our time together, we make the transition back to you very smooth or assist with a sale that will be just as easy.
Whew, there are more things that aren’t coming to mind right now but none the less, We hope you see the value in what we do for our clients.