The following is a summary of our fees & services

 

FULL SERVICE MANAGEMENT requires payment of one-half of the month's rent, and negotiable percentage of the gross monthly rent after a tenant is secured. We offer a negotiable rate if the property is rented at the time we take over management. Full Service Management includes:

 

Your Property

• Initial consultation at your property to advise and determine rental rate
• Advertising, signage, marketing, Multiple Listing Service and Internet exposure
• Showing of property
• Order and oversee all maintenance matters, including post-work inspection and invoice approval
• Periodic inspections and complete care of the property

The Tenant

• Tenant screening and background check
• Preparation of documents, such as leases, addendum's, amendments, notices, etc.
• Detailed tenant move-in and move-out inspections
• Enforcement of lease terms and conditions
• Response to maintenance needs and requests
• Maintaining good rapport with the tenants and handle their needs and issues
• Serving notices and enforce collection of delinquent funds

Accounting

• Collection of move-in funds
• Ongoing collection of rents and fees
• Disbursement of funds; direct deposit, if desired
• Pay vendors, banks, insurance and taxes
• Monthly accounting and statement, including vendor invoices/payments
• Year-end tax statement for your accountant

You are responsible for expenses such as repairs, maintenance, or utilities. These will be paid out of your account.

 

Tenant Procurement Only provides leasing services, and includes all items under Your Property and the first two items under The Tenant. The fee is equal to one month's rent, and includes Internet advertising costs, tenant screening and preparation of the all lease documents. One-half of the fee is required before the leasing contract begins. After the lease documents are complete, you take over management. The security deposit, maintenance and inspections of your property are your responsibility. This option is not recommended for out-of-area owners.

 

KEY MARKET FACTORS

How long does it take to rent a home? There is no easy answer. Some homes will rent in a few days; others may take several weeks. Recognizing the key factors influencing marketing can give you significant control over the time it takes to rent your home. The proper balance of these factors will expedite the leasing of your property.

 

PRICE

• Price is the single greatest factor affecting the marketability of your home.
• If your property is not properly priced for the current market conditions, finding a tenant may be delayed or even prevented.
• Your Bayview agent can work with you to evaluate your home and arrive at a fair and realistic rental market value.

LOCATION

• Location is one of the primary factors affecting the rental value of your home.
• Neighborhood desirability is the key to a properties rental value.

CONDITION

• Property condition affects price and the speed of renting a home.
• Optimizing physical appearance (particularly curb appeal) and advanced preparation maximizes value and desirability.

TIMING

• The time of year will affect the time frame to successfully market your rental property.
• Market conditions cannot be manipulated; a marketing plan for your home must be individually tailored to meet current market conditions.

COMPETITION

• Renters interpret value based on other available properties.
• Renters will compare your rental and what it has to offer against competing properties.

TERMS

• Terms structured to meet your prospective tenants needs are important to successful marketing.
• The more flexible the lease terms (i.e. lease length, pets etc.), the broader the market, the quicker the rental and the higher the price you'll receive.

 

MARKETING & ADVERTISING

Our primary functions:

• Single Family Homes and Condominiums
• Quality Apartment, Retail and Office buildings
• Condominium Associations
• Lease Negotiation, Construction Management, Property Maintenance
• Building Janitorial, Sub-Contractor Management

The beginning step of our program is a thorough market research to determine a marketable rental amount. Our analysis will be based on current market conditions, current competition and prior market activity data, that will provide a suggested rent range for your consideration.

 

You are represented throughout the leasing process with your objectives in mind:

• Obtain the highest value possible
• Complete the process in a reasonable time
• Obtain the best possible tenant for your property, who will pay the rent and take pride in their new home
• Accomplish the lease

You receive an individual marketing plan developed exclusively for your property, including advice on the appearance of your property, information sheets of the advantages of your property, multiple listing involvement, Internet connection, advertising and relocation advantages, and important communication on the marketing process. You will receive an estimate of the rental value based on similar homes currently on the rental market and on similar homes that have currently rented. You receive regular communication on the marketing progress.

 

The objectives: Obtaining the highest rent possible and completing the leasing process in a shortest period of time, with the least amount of inconvenience to you.

 

ADMINISTRATION

 

Administration is an on-going process of our standard management services. We are organized and well equipped to handle all administrative functions in an efficient and timely manner.

 

RENT COLLECTIONS:

We collect rent on a monthly basis and if necessary, we will enforce rent payments. We will serve delinquency notices, termination notices and enforce all other contractual provisions. We are able to initiate and supervise eviction proceedings.

 

PERIODIC INSPECTIONS:

We inspect the premises periodically as a part of our services. We observe any routine preventive maintenance that may become necessary and inspect the tenant behavior to ensure the terms and conditions of the lease are being met.

 

We are organized and equipped to handle any property management operation with the use of the appropriate software and a sophisticated computer system. We keep complete records of all receipts and disbursements as well as maintaining a database of tenant information, rent payment history, vendor disbursements, property maintenance records and recurring disbursement records.

 

We can handle payments of vendor invoices, and if you desire, make recurring payments such as mortgages, homeowners dues, insurance payments, etc.

 

At the end of every month, we send a detailed Transaction Report and a Cash Flow Report. These statements encourage financial projections and budgets. At the year end, a summarized Annual Statement is sent and we issue 1099's.

 

We have established relationships with a variety of vendors. They are carefully chosen, independent contractors, licensed and bonded and we constantly monitor their performance. Because of our large volume of work, we generally get better prices than what are offered to others. These cost savings are passed on to you. We schedule any repairs as they become necessary. We will obtain estimates for your approval for large repair items, except for emergency repairs.

 

TENANT SCREENING

Bad tenants cause property owners operating losses. We believe in thoroughly investigating prospective tenants and selecting the highest quality tenants; this results in a significant reduction in the losses from rent delinquency and tenant incurred property damages result. With pertinent information we supply, you can make a well-informed decision about your new prospective tenants.

 

Tenant history is verified and includes tenancy in general and their payment habits.

 

Eviction/Criminal history is searched for prior evictions and any tenancy violations including criminal activity. As a subscriber to a national reporting agency, we are able to receive this information.

 

Employment history and income verification is reported for a minimum of 2 years, and can be verified through pay stubs, written statements from employers, or tax returns, if necessary.

 

Credit reports will provide detailed information about debt's, payment habits, and existence of collection accounts, liens, and bankruptcy records.

 

LEASING

 

Upon your approval, we will prepare and execute all the necessary lease paperwork. The rental agreement we use addresses most of the issues related to residential rental dwelling. However, any special terms or conditions may be added to the contract.

 

With the tenant present, a thorough inspection of the property prior to move in will be conducted. A statement of the condition and inventory check list is completed and is verified, and signed by the tenant. At our option, we will photograph or videotape the property inside and out to visually record the condition of the property.