What is Property Management?
Property management is the managing of property by a professional for a fee.
The process consists of:
- Interviewing the owner and view the property to determine the owners expectations for the property
- Determining the value of the property in terms of leasing and/or other options
- Discuss maintenance issues , get repair estimates & schedule the work to be completed.
- Our fees for managing the property include 10% of the monthly rent, a leasing fee and a leasing renewal fee.
- Advise owners to contact their CPA or real estate attorney about IRS rules concerning income property.
- Monthly disbursement of owner proceeds including reports and copies of any maintenance invoices.
- Advertise the property for rent on major websites including our website. We do not charge for any advertising that we do in order to lease the property.
- Interview process for potential tenants – Applications, credit, evictions & criminal reports, employee records, past landlord checks. We prepare the leases, hold the security deposits and collect the rent. We also prepare the tenant as to what is expected from them as a tenant, i.e. maintenance and keeping the property in good condition, paying their rent in a timely manner and , most importantly, to community with the property manager.
- Renewal of Leases including property inspections
- When the owner is ready to sell the property or invest in another property, we are able to help them to move
forward with all of their real estate needs.
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