MANAGING YOUR INVESTMENT
Our goal as property managers is to maximize our owner's property income potential, while maintaining the property in accordance with their goals.
Our professional real estate management services relieve property owners of the burden of dealing personally with tenants, monitoring the activity of lessees, arranging for and overseeing repairs and improvements, evaluating the property for retention or sale and all of the associated record keeping. We strive to be the "hassle free" property management option you deserve.
SERVICES
1. Tenant Customer Service and Issue Resolution
There is a strong relationship between rental property profitability and the retention of responsible tenants. We minimize tenant turnover and its resulting leasing and vacancy expense by developing strong landlord tenant relationships based on expeditious response to tenant concerns and cheerful customer service.
2. Advertising and Leasing the Property
When a property is available for lease a sign is immediately placed on the property.Your property may also be advertised in the newspaper and our website.Our goal is to get the property turned and rented as fast as possible.
All prospective tenants are required to fill out our rental application before seeing the property.We check criminal history for every prospect.In addition we may verify information with previous landlords and previous employers.
3. Dealing with Delinquent and Unpaid Rents
Our management fee is based on rental revenue actually received (not gross rent roll) so, we have a personal incentive to make sure your units are always rented at the highest rent the market will bear and that rent collection is aggressively pursued. We operate on a strict policy that rent is due on the 1st with a 5 day grace period and eviction notices go out on the 15th of the month. This policy actually minimizes the necessity to carry the eviction process to its conclusion as tenants tend to prioritize the payment of their rent over other financial obligations once they understand how we enforce our delinquent rent policies.
When it is necessary to completely follow through on an eviction action, we manage every step of the process, including representing our clients in court. We take all necessary steps to ensure whenever a tenant is leaving due to either lease expiration or eviction that the unit is aggressively advertised to minimize lost revenue due to vacancy.
4. Bill Payment, Bookkeeping and Financial Reporting
All monies collected will be placed in our trust account under B&B Property Management.At no extra cost, we will manage the paying of bills related to clients' properties out of their rental revenue and provide our clients a monthly income statement detailing their properties' performance for the month. These reports, along with profit checks, are sent out by the 1st day of each month, reflecting all previous month's activities regarding the property on a cash basis.
5. Property Maintenance and Improvements
We hire contractors to perform all necessary property maintenance and make recommendations to clients on making improvements to the properties when we feel doing so will enable them to raise their rents and increase the return on their investment. Unlike most property management firms, we charge no mark up on services charged by vendors that service properties under our management.
6. Property Management Fees
Our fees are based on a percentage a client's gross rent roll and ranges from 7% to 10% of gross rent collected each month, depending on how large the rent roll is plus ½ months rent re-leasing fee. Basing our fees on rent collected ensures you do not have to pay a fee based on rent that is not received as you might with other property managers that charge based on gross rent roll that may or may not be collected each month.
Our full array of services enables you, as a property owner, to enjoy the benefits of your investment, while leaving the headaches and time-consuming responsibilities to our knowledgeable real estate team.
