Evaluate the property and determine an accurate rental rate

  • Gather data on rental rates in the area and determine the appropriate rent based on size and unit type
  • Offer recommendations and referrals on repairs and cosmetic improvements that maximize monthly rent while providing a growing ROI.
  • Review with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.
  • Install a lock box on property

Market the property for rent

  • Create ads tailored to the property and advertising medium. Some of the mediums we commonly use are:
    1. Paid and free rental listing websites and print publications
    2. Signs
    3. MLS
  • 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.
  • Provide prospective tenants with rental applications that are legally compliant with fair
    housing laws
  • Collect applications and process application fees

Tenant Screening and Selection

  • Perform a background check to verify identity, income, credit history, rental history, etc.
  • Grade tenant according to pre-defined tenant criteria
  • Provide notice to tenants who were not approved

Tenant Move In

  • 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 with tenant and have tenants sign a report verifying
    the condition of the property prior to move-in.
  • Collect first months rent and security deposit

Rent collection

  • Receiving rent
  • Track late payments and followup with tenants
  • Sending out pay or quit notices
  • Enforcing late fees

Evictions

  • Filing relevant paperwork to initiate and complete an unlawful detainer action
  • If necessary, coordinating with law enforcement to remove tenant and tenants possessions from unit

Inspections

  • Perform periodic and thorough 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

Financial

  • Provide accounting property management services
  • Detailed documentation of expenses via invoices and receipts
  • Maintain all historical records (paid invoices, leases, inspection reports.)
  • Provide annual reporting, structured for tax purposes as well as required tax documents
    including a 1099 form
  • Provide easy to read statements which offer a detailed breakdown of income and itemized
    expenses

Maintenance, Repairs, and Remodeling

  • Assign jobs to preferred vendor list
  • Compiled list of most cost effective and thorough contractors

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
  • Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in
    owner reserves for repairs.
  • Put the property back on the market for rent