Property ownership as an investment can be wonderful thing – buy a property, rent it and enjoy the benefits of a good investment. HOWEVER, it is not always that simple! Tenants don’t pay the rent pon time, complaints about needed repairs at all hours of the day or night, record keeping, finding reliable vendors, damages, and much more.
Is there value for you in hiring a property manager? Ask yourself the following questions:
- What is required to set up a legal rental?
- Do you have a lease that will protect you and your property? Do you have the attachments needed for that lease to cover anything extra on your property?
- Are you aware of the fair housing laws associated with advertising and leasing a property?
- Do you have reliable means to determine fair market rent for the property?
- Do you have the means to screen potential tenants for credit, past rental history, criminal records?
- Do you have contractors on call 24 hours a day to deal with repairs at a reasonable cost?
- Do you know what to do if a tenant stops paying rent?
- When the tenant vacates do you know the Florida Statute Requirements regarding the Security Deposit.
- Do you have the ability to prepare and file 1099's at the end of the year?
If you don’t feel confident in answering these questions, contact us for a complimentary consultation. Professional property management can free you to enjoy the benefits of your investment without the stresses. The cost of one bad or uninformed decision can easily offset years of management fees.
What we do for our management fee:
- Preparation for the Market – preview the property and make recommendations for things that need to be done to maximize rent and minimize vacancies. Even offer a home warranty – ask us about it.
- Extensive Tenant Screening – credit check (includes eviction check), criminal background check, pedophile and landlord check, income and employment verification.
- Marketing and Advertising – property listed in the MLS (multiple listing service), internet exposure professional Showcase Property Management rental sign on the property. We have professional leasing agents to track calls and show your property 7 days per week until an application is received.
- We have an attorney prepare the lease with any required attachments and review it in detail with the tenant and you so all have the same understanding and expectations from the beginning. The executed lease will be delivered to all parties including the condo/homeowners association if required.
- We conduct move-in and move-out inspections as well as routine inspections to ensure the tenant is in compliance. Photographs will be taken to document the condition of the property. The tenants are expected to leave the property in the same condition with normal wear and tear.
- Our maintenance department oversees and schedules maintenance and repairs as needed and provide 24/7 service for emergencies. Ask us about this. Home Warranty calls are handled by the maintenance department who will also communicate with you regarding maintenance work.
- Computerized accounting is used to email you a statement each month showing all financial transactions for the last 30 days as well as an end of the year report. You may also go online to view your account at www.MyRentalHome.com. We have timely rent collection procedures and disburse funds monthly via check or ACH direct deposit. Security and pet deposits are held in escrow as directed by Florida statutes.
- Should it be necessary to evict a tenant, we can have an attorney handle the entire process for you – posting 3 day notices, preparing necessary documentation to start the process, filing the papers and meeting the sheriff for a lock-out.
Do you just want us to Place your Tenant?
- Tenant Placement Services are available if you just need help placing a credible tenant.
- We can run the application for the applicant, have the attorney prepare and sign the lease, collect all funds and then give to you to manage the property.