Why Hire a Professional Property Manager?
If you lack the time or expertise needed for day-to-day management of your commercial or residential real estate investments, an expert Property Manager with At Home Real Estate Services, Inc. can help you:
- Market your rental property to minimize vacancies and maximize income (Property managers make their livings because they know the rental market, what comparable properties are renting for, and hat potential renters are willing to pay for a rental property. They have the marketing know-how to reach potential renters and they have the experience and resources to weed out potential bad renters);
- Fill vacancies with the best possible tenants;
- Maintain and keep your rental property in good condition (Property managers handle and coordinate routine repairs as well as emergency repairs. They have the experience to avoid unnecessary repairs to save you money);
- Track income and expenses to determine profitability;
- Negotiate rental agreements;
- Collect rent and track tenant deposits;
- Comply with federal, state and local laws; and
- Respond to tenant requests and deal with problem tenants
In short, property managers help you make the most from your rental property and they can save you time.
Is property management affordable for single-family rental owners?+
- Not only is property management affordable, using a property manager can actually increase your property's overall profitability. Most property managers charge a small percentage of your monthly rent in exchange for comprehensive services that range from finding and screening tenants, to handling emergency maintenance, to keeping the books and preparing year-end taxes.
- 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.
- 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 comparables according to size and type.
- Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.
Market the property for rent+
Marketing: Our extensive marketing procedures will include any or all of the following marketing procedures in order to procure the best-qualified tenant in the least amount of time:
- Pictures of your property will be posted on our web site.
- Placing ads on various rental web sites with links to pictures on our web site.
- Placing property on Multiple Listing Service will expose your property to over 3,000 Licensed Realtors.
- Sign in yard
- Prepare home for rent
- Order cleaning of home and optimize interior appeal
- Order landscaping to manicure and increase curb appeal
- Create ads tailored to your property and advertising medium. Some of the mediums commonly used are:
- Paid and free rental listing websites
- 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 with application fee to ensure serious prospects
Tenant screening and selection+
- Perform a background check to verify identity, income, credit history, rental history, criminal history, etc.
- Grade tenant according to pre-defined tenant criteria
- Inform owners of completed application so they can make informed decision on prospective prospects
- Inform prospects who were turned down
Tenant Move In+
- Draw up leasing agreement and all documents required by law
- 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 survey and have tenants sign a report verifying the condition of the property
- Collect first months rent and security deposit
- Online payment option
- Receiving rent
- Hunting down late payments
- Sending out pay or quit notices
- Enforcing late fees
- Advise in the event of a legal dispute or litigation
- Refer owner to a qualified attorney when necessary
- Understand and abide by the latest local, state and federal legislation that apply to renting and maintaining rental properties
- Filing relevant paperwork to initiate and complete an unlawful detainer action
- Representing owner in court
- Coordinating with law enforcement to remove tenant and tenants possessions from unit
- Perform periodic survey (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
- Make payments on behalf of owner (Maintenance)
- Detailed documentation of expenses via invoices and receipts (available on portal)
- Maintain all historical records (paid invoices, leases, survey reports, warranties, etc.)
- Provide annual reporting, structured for tax purposes as well as required tax documents including a 1099 form
- Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses
- Direct deposit offered directly to owners bank account
Maintenance, Repairs, and Remodeling+
- Order and oversee maintenance
- Establish a preventative maintenance policy to identify and deal with repair needs
- Provide a network of licensed, bonded and fully insured contractors who have been vetted for good pricing and good work that is up to code.
- Assign jobs to different parties based on who will do the best job for the best price.
- Maintain and monitor a 24 hour emergency repair hot-line (emergency normally consists of fire, flood and NO heat)
- Provide recommendations on how the project can maximize rental income
- Prepare preliminary cost estimates
Tenant Move Out+
- Advertise and place the property back on the market for rent
- Survey unit, take pictures and fill out a report of the property's condition when the client moves out
- Order cleaning services or needed repairs & upgrades
- Return the balance of the security deposit to the tenant with the accounting required by law
- Provide tenant with a copy of invoices paid on their behalf as well as estimated damages
- Forward owner’s portion of the tenant deposit for tenant charges or hold in owner reserves for repairs
Higher Quality Tenants+
Think of tenant screening as the moat and draw bridge around your castle. It is certainly possible to get a bad tenant out of your home once they are in, but it's a real hassle and you are so much better off never accepting them in the first place. A thorough screening process helps result in a more reliable tenant for your home. We will check credit history, rental history to include nationwide evictions, employment verification and criminal record check.
At Home Real Estate Services, Inc. has seen thousands of applications and knows how to quickly dig for the real facts about candidates and analyze that information for warning signs. By allowing us to handle the screening, you will also be shielding yourself from rental scams directed at owners, and discrimination lawsuits resulting from an inconsistent screening process. This kind of experience takes time, and can help in avoiding bad tenants, scams and lawsuits.