Real Property Management Five Star

Much like the real estate market determines sales prices, the local rental market determines rental rates. There are three factors that contribute to how much your rental property will receive in rent each month. Availability and rental rates of comparable properties The features and benefits of your property The marketing exposure for your vacancy After we receive the details of your specific rental property, we will complete a market analysis and set a starting price. We then evaluate all vacancies under our management on weekly basis, making adjustments in the price or within our marketing strategy to get it rented as quickly as possible.

Statistics show over half of all renters have pets. Being open to pets, you will increase demand through the entire prospective rental pool, thus increasing the rental price as we charge an additional $25 per pet, per month. If maximizing rent is important to you, maybe you should consider pets. If you would rather play it safe, it is OK to say no pets. If you are open to a pet, we always say, “pets considered on a case by case basis”. That means we may approve the right pet, not all pets.

Yes and No. If the property is vacant, owners can handle the repairs needed to make the property “rent ready,” if they choose. However, either the client does all the work or we do all the work. It gets messy when there are too many chefs in the kitchen. Once the property is leased, we require that you use our preferred vendors. This ensures deadlines are met, as we work with these vendors regularly; they are insured, licensed, reliable, trusted and we know what to expect.

For tenant-occupied homes, tenants submit a maintenance request via their online tenant portal. Our portal allows tenants to submit a work order request by providing a description of the issue as well as upload photos of the issue, when appropriate. Owners receive the same notification of the request that we do once it is submitted. Our goal here is full transparency of everything going on with your property. Tenants can also track the status of their request online. When a request comes in, we assess it to see if it needs immediate dispatch or if we can proactively troubleshoot the issue with the tenant. There are many common repair requests our team is trained on how to troubleshoot. If the issue needs to be fixed, we assign the work order to one of our preferred vendors. We have in-house maintenance capabilities and utilize third-party vendors for electrical, HVAC and plumbing repairs. The technology enables the vendor to contact the tenant to set-up a time to make the repair. Our vendors will complete the repair if under $300, take photos of before and after work and submit an invoice to our company for approval. We make sure the cost of the repair is fair and that the work was completed satisfactorily. The management agreement allows us to approve any repair under $300, without having to bother our clients. Larger repairs over $300 require owner approval, so we will contact the client in those cases. Exceptions to the $300 approval rule include emergency maintenance and habitability issues. If we have to act quickly to protect persons or property we will do so, to protect our owners best interest. Once a repair is completed and invoiced, we contact the tenant, asking them to confirm the repair was completed satisfactorily, if the vendor was professional, and to provide feedback about their overall experience with the vendor and our team.

All prospective tenants must participate in an extensive 6-step screening process. First, nationwide background checks and eviction database screenings are completed to look at criminal backgrounds and the sex offender registry. Next, we ensure they qualify financially by reviewing their credit report, verify employment, and review pay stubs and/or tax returns. Finally, we review their rental history by contacting their previous two landlords for references.

Our rigorous tenant screening process usually prevents these types of issues; however, if a problem should arise, our premium service clients can rest assured that we always respond promptly and aggressively. Rent is due on the 1st and is accepted late up to the 3rd. If rent has not been paid at this time, the eviction process begins promptly on the 4th of the month in question. The eviction process is started with a 3-day notice to pay or move out. Nuisance issues are handled in a similar way with one warning given before notice is posted. We also keep a lawyer on retainer to address eviction and collection issues as well as to dispense legal advice when necessary.

We disperse funds via a convenient ACH transfer on the 10th of every month. We also post your monthly owner statement at this time.

Getting properties rented efficiently is pivotal to our success, thus we must generate as many qualified leads as possible to have happy clients/owners. We achieve this by syndicating marketing efforts to the top rental websites (over 15+). Any call into our office is also answered live between 9:00am-5:00pm, Monday through Friday, this is crucial to get homes rented fast because if they do not speak to someone, they go elsewhere. We also share available listings with realtors who have clients looking to rent in specific communities and neighborhoods.

We understand that everyone’s situation is different. Some clients only need assistance with leasing their rental property and processing rent payments each month while others prefer to have all aspects of the property management process taken care of for them. That’s why we give property owners options and let them decide which property management level is right for them and their rental property.