Download a Sample Property Management Agreement here.
WHO SELECTS THE TENANT?
Management companies are governed by Federal and State Fair Housing Laws. For this reason, we have strict guidelines in the processes we use to select tenants and what we do with the information that we collect. We have an established criteria we use to select tenants. Some of the primary factors are: credit score and history, criminal records, past rental history, and proof of income. The short answer to this question is we select the tenant. We will consult with you when it comes to pets or any other special circumstance that a potential tenant may bring up.
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WHAT DOES MANAGEMENT INCLUDE?
Our property management services include: showing of property, tenant screening, executing leases, lease renewals, collecting rents, interior/exterior property inspections, distribution of rents (including payments to vendors of any maintenance costs), coordinating move-in/move-out processes, facilitating tenant communication and owner communication, monthly financial statements, and initiation of the eviction process with a 3rd party vendor (not to include costs related to filing fees, posting fees, legal, and court costs).
ARE PETS ALLOWED IN RENTAL PROPERTIES?
An Owner makes the final decision if pets are allowed in a rental property. However, keep in mind that 65 – 70% of tenants will have a pet of some type. If you do not allow pets, you are immediately negatively impacting your market. We can certainly still rent your home but it might take a little longer so you could experience extended vacancy and therefore lost rent. If you do allow a pet, a pet addendum will be signed and additional security deposit is required.
Don’t confuse a “pet” with a “service” or “companion” animal. It is illegal to discriminate against service animals, so we will absolutely rent to a tenant with a verifiable service animal. We cannot take any additional security deposit, nor can we decline any specific breeds that we might otherwise not allow in our properties.
WHAT KIND OF CONDITION DOES MY PROPERTY NEED TO BE IN TO FIND A QUALITY TENANT?
The property’s condition is one of the most important aspects of marketing a vacant rental property. Properties that are not “Rent Ready” when they’re placed on the rental market tend to be slower to rent and attract renters who are not only willing to settle for less than top quality, but who treat their rental properties with less care and concern than we want to achieve for our owners. Furthermore, quality renters typically can’t envision what the property will look like after we do this or that…telling the prospect we’re going to be painting, or going to be replacing carpets is virtually useless. The first impression of a vacant property is the lasting impression of that property. That’s why we urge our owners to take care of the basics: fresh paint, clean floor coverings, functional window blinds, and everything in good working order.
Download a Sample Property Management Agreement by clicking the PDF icon below.