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1. Collecting Rent Payments: Securing payments can sometimes be awkward. Property Managers have systems in place to effectively collect rent and maintain payments. A Property Manager also handles late payments and eviction proceedings.
2. Housing Regulations and Property Law: There are applicable laws and regulations that Investors need to follow when renting and maintaining rental properties, including local, state and federal regulations along with fair housing regulations. A Property Manager can help you avoid lawsuits by keeping in compliance with these regulations.
3. Marketing/Advertising: Property Managers have experience in marketing which will increase the exposure of your property and reduce vacancy rates.
4. Inspections: Maintenance of your rental property affects its value. A Property Manager can find problems before they become expensive repairs with inspections before a tenant moves in, during their lease term and when the tenant vacates.
5. Tenants Placement: A Property Manager can research a potential tenants background, credit, employment verification and previous landlord references. We also handle tenant disputes, conflict resolution and emergency maintenance.
6. Legal Forms and Leasing Documents: There are many forms to protect both you and the tenant. Property Managers handle Lease Agreements, Crime-free Agreements, Lease Renewals and other necessary paperwork.
7. Maintenance/Repairs & Access to Professionals: Property Managers have relationships with maintenance workers, tradesmen, vendors, supplies and contractors. This saves you time and money when it comes to maintaining your property while ensuring quality work.
8. Fees: Property Managers charge a percentage of the monthly rental rate, usually 8%-10%.
9. Rental Rates: Property Managers know rental rates for specific areas to ensure the property is priced right to attract tenants.
10. Monthly and Yearly Statements: We generate statements showing the rental income, management fee.
COSTS & SERVICES
Administrative Fee to start Account: $300
Administrative Fee to Re-Rent Property when vacated: $300
Renew Annual Lease with Tenant: $100
Management Fee for properties $801+/month or less than 25 miles from office is 8% of monthly rent
Management Fee for properties under $800 or more than 25 miles from our office is 10% of monthly rent
Referral Fee to Realtor who brings Tenant: $150-$400 depending on property
Repair Fund per Owner: $300.
Tenant Screening by AAA-Landlord Services-Credit, Employment, Rental History, Criminal Background checks
Collect Rents, Serve Notices.
Attorney on Retainer for Eviction Proceedings
Rent sent via direct deposit to owner by 10th of every month
Annual Accounting Report and 1099 tax forms completed annually.
Accounting Report sent to Owner when repairs have been made and paid via Repair Fund
Reliable and Affordable Contractors Available for Repairs
Recommended: Owner to purchase Home Warranty to reduce costs of major repairs
Repairs under $300 handled by Property Managers. Repairs over $300 require Owner's approval.
Maintenance Checks are done on property.
Collect and Pay City Tax on behalf of Owners