Rental and Realty Group Complete Property Management Service List
The following is a list is composed of tasks Rental and Realty Group commonly performs for our owners on a daily basis.
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 comps 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
Market the property for rent
- Prepare home for rent
- Clean home and optimize interior appeal
- Manicure landscaping to increase curb 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
- Provide a 24-hour hot-line where prospective tenants can listen to detailed information about the property
- Field calls from prospects for questions and viewings
- Meet prospective tenants for showings throughout the week and weekend. Setting appointments
- Provide prospective tenants with rental applications that are legally compliant with fair housing laws, gauge any negative feed back to rectify issues
- Collection applications with application fee
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
- Inform tenants who were turned down
Tenant Move In
- Draw up leasing agreement and sign on behalf of owner
- Confirm move in date with tenant
- Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance
- Ensure all agreements and contracts have been properly executed and are legal
- 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 prior to prospect move in
- Receiving, collection and allocation of rents
- Hunting down late payments and overdue monies
- Preparation and positing of pay up or quit notices
- Filing relevant paperwork to initiate and complete an unlawful detainer action to begin the eviction process legally
- Representing owner in court, file paperwork for any outstanding debt owed by tenant to owner or company
- Coordinating with law enforcement to remove tenant and tenants possessions from unit
- Refer owner to a qualified attorney when necessary
- Understand and abide by the latest local, state and federal legislation that applies to leasing and maintaining rental properties.
- Perform periodic inspections (interior and exterior) on a predefined schedule checking for repair needs, safety hazards, code violations, lease violations, preventative works etc,
- Send owner periodic reports on the condition of the property, inspect all repair works by sub-contractors on required issues and make sure they have been completed to satisfactory requirement
- Detailed documentation of expenses via invoices and receipts
- Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
- Provide annual reporting, structured for tax purposes as well as required tax documents including a 1099 or 1042s form
- Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses
Maintenance, Repairs, and Remodeling
- Oversea all and any works carried out at managed homes and price check
- Maintain an out of hours hot line for any emergencies that may occur
- Lias with HOA’S on violations or code issues, also insurance company requests
- Request quotes for any necessary or refurbishment works. For owner or tenant on small or large projects
- Inspect concerns from tenants on more issues, provide advice and assistance
Tenant Move Out
- Inspect unit and fill out a report on the properties condition when the client moves out
- Provide tenant with a copy of report 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.
- Clean unit and perform any needed repairs or upgrades
- Re-key the locks
- Put the property back on the market for rent
THEN START ALL OVER AGAIN….
CALL 863 .421. 7200 TO JOIN OUR TEAM TODAY!