Property Management Services
Our
goal is to make sure that we have systems in place to obtain
conscientious tenants that will take good care of the property
and pay rent promptly, to make sure that all laws are followed,
the owner's rights and property are protected and the tenant's
needs and concerns are addressed in a timely matter to insure
longer tenancies and no problems. We will take away the
headache of you having to deal with the nuisance of tenant phone
calls over small items, and you can rest assured that we are on
top of those issues.
Prepare Property for Leasing
We will perform a full market analysis of your property, and
suggest the correct rental price so that the property is rented
in a timely manner. Without a doubt, the most expensive
cost of owning rental property is vacancy, and we strive to
minimize any vacancy period. In addition, we will complete
a walk-through of the property and suggest any improvements or
repairs and obtain cost estimates for the completion of any such
work, and follow that process through to it's conclusion.
We do require that all of our management properties conform to
current state and local ordinances regarding the maintenance and
upkeep for rental properties to protect both ourselves and you,
the owner, from potential liability.
Marketing Your Property
We use
a number of different outlets to advertise your property for
lease.
We use multiple websites including our own,
www.ClocktowerRealty.com,
and outside sites, such as Craig's List, and
Postlets to market your property. We will also include
a prominent yard sign, and color brochures available outside of
the property. We have found that newspaper advertising is
more costly, and less effective in finding quality tenants, than
other techniques we utilize. If you feel strongly that
newspaper advertising is something you desire, additional fees
will apply.
One of
the biggest benefits to having a property management company is
our availability to show your property to potential tenants in a
timely manner. We answer and return calls promptly, and
make ourselves available at the potential tenant's convenience
to make sure your property is seen.
Thorough Screening of Prospective Tenants
We require
that all applicants complete our application, and we run a
credit check and verify current employment and past landlord
references. At that point, we will come to you with all
the information for your approval. We suggest high
standards in the acceptance of potential tenants, in good,
verifiable references, and a credit score in the range of 650 or
higher. We've found that those high standards help
dramatically in acquiring a tenant that pays rent on time, and
is conscientious in maintaining the property. We also
typically ask for a security deposit equal to 1 - 1 ˝ times
the rental amount.
Completing Lease and Legal Disclosures
Once you approve
of the tenant applicant, we will prepare and sign the lease
agreement. Our lease agreements include stipulations that
the tenant maintain renter's insurance, allow no smoking on the
premises, allow no pets, and no waterbeds. We also
require that tenants have carpets, if any, professionally
cleaned upon move-out.
Ongoing Property Maintenance & Repair
We perform
regular inspections annually to identify preventive maintenance
items and generate a list of suggested repairs and/or
replacements. Our goal is maintain all areas of the
structure on an ongoing basis to prevent larger problems down
the road. We have excellent, ongoing relationships with a
wide range of contractors and handymen ensuring that we receive
competitive pricing and prompt service. Our tenants can
reach an on-call property manager quickly to get any issues
resolved.
Detailed Walk-Through Inspections
A thorough inspection of the property with the tenant prior
to move-in documents in writing and photographs the condition of
the property. Near the end of the tenancy, another inspection
with the tenant reveals the existing conditions and identifies
those items that may need to be addressed prior to vacating. A
dollar value is assigned to each item for reduction from the
deposit if the tenant chooses not to make corrections.
Complete Accounting
Each month, we will collect the rent,
and send you a statement of income and expenses along with a
direct deposit of your funds on or before the 15th of each
month. We will include invoices for any repairs that were
done during the month. At year end, you'll receive a full
year end statement with all costs itemized to make it easy to do
your taxes, or hand off to your accountant.
Excellent Communication
We pride ourselves on responding
quickly to tenant issues, both to help protect your property,
and to insure satisfied tenants, leading to less tenant
turnover. We are available to both owners and tenants by
our phone system with automatic paging, and email.
Fees
Our standard fees for residential property management contracts
are as follows:
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