What we do:
Most experienced rental property owners prefer using professional property managers because they know that good property management is key to keeping tenants happy, minimizing vacancies and getting the most from their maintenance budget.
New property owners may sometimes manage their own properties in hopes of saving money by doing everything themselves.
That’s a good plan if there aren’t any problems. Part-time property managers soon discover that they spend a lot of time placing ads, showing properties, screening tenants, collecting rent, overseeing, and/or doing the repairs and maintenance themselves.
Property Management is a full-time job!
We goal is to make owning a rental property hassle-free and profitable by taking care of every aspect of leasing and managing of your single-family home, condominium or small apartment complex.
We’re here to help.
- We are licensed realtors so the first thing we do is actively market you property through the (MLS) Multiple Listings Service which is distributed to other licensed realtors and on some of the most popular real estate sites on the web.
- We don’t stop there. In addition, we also post your rental listing in the most popular websites not fed by MLS, including Trulia, Zillow and Hotpad.
- We provide a market analysis of your rental property to help you arrive at the right price for your rental property because price is paramount in attracting good applicants. The longer a rental property sits vacant, the more money money you lose. On the other hand you don’t want to give it away either, so pricing is critical. In developing a pricing strategy, we consider all the the obvious factors including size, the number of bedrooms and baths, year built, amenities, upgrades and condition. We also consider the current activity for properties similar to yours along with the property type, the time of year and the “day’s on market.”
- Annual Rent reviews and analysis are also conducted before renewal of your tenant’s lease.
TENANT SCREENING & SELECTION:
- We verify all applicant information and complete an up-to-date credit, eviction and background check.
- We require that all adults residing in your property go thru our screening process and sign the Lease Agreement.
- We contact the applicant’s previous landlord to verify their rental payment history, including late payments, damages, pets and other factors that pertain to their tenancy.
- We contact the applicant’s current and if necessary, previous employers for verification of employment history and income.
- We verify that applicant’s current income is appropriate for the rental amount. Our standard rental income is three times the rent in gross monthly income.
- We require that upon move-in, the security deposit and any additional move-in fees, along with first month’s rent are paid by in full by separate cashier’s checks or money orders.
- Applicants proposing to move in with pets must get your prior approval. If approved, they are required to complete a pet addendum, pay an extra pet security deposit.
- All Security Deposits received are deposited into a separate, non-interest bearing trust bank account as required by the California Board of Realtors.
- We conduct a walk thru inspection/review of the premises with the tenant(s) prior to their taking possession.
- The Lease Agreement, Lease Addendum and Hermitage Property Management Rules & Regulations, and any other relevant documents are reviewed and signed by every tenant over 18 years of age.
- Tenant responsibilities are reviewed so the tenant has a clear understanding of owner/landlord policies.
RENT PAYMENT AND COLLECTIONS:
- More than 90% of our rent is collected electronically, ensuring prompt deposit and less chance of errors.
- Rent is due on the 1st of each month and is considered late if received after the 5th business days.
- Five business days after receipt of rent, the funds are transferred by ACH into owners’ designated account.
- If a tenant is frequently late in making their rent payments on a timely basis, we will consult with the tenant to try and improve their rent payment history. Should the tenant continue to be late, we will begin eviction proceedings, with owners approval.
- If a tenant pays their rent by check and it results in a non-sufficient funds (NSF) notice two times during the lease lease term, they will be required to pay their rent by cashiers check or money order for the balance of the lease term.
- We provide itemized owner statements along with original work orders and receipts of the 10th day of each month.
- Every transaction affecting your account is recorded and explained in detail. Our reports provide transparent detail so you can see exactly what is happening with your property.
PROPERTY INSPECTIONS & REVIEW:
- We conduct frequent interior & exterior inspections.
- We regularly schedule routine maintenance, (with your approval).
- Tenants are always notified of pending property inspections in writing. Inspections are conducted with the tenant present, using the property condition form that was executed by the tenant upon move-in. We compare for discrepancies, missing items, and any damage.
- We use only qualified, independent, vendors and subcontractors to do repairs and maintenance. Each has been previously used so we trust them to manage your properties.
- For major repairs, we require a minimum of three written estimates. Nothing is done without your approval.
- We make spot checks and follow-up inspections on work done on your behalf. Each job is fully documented in writing and supported with receipts.
OWNER / TENANT RELATIONS:
- We answer our phones 24/7 so you don’t have to. We want to make sure emergencies are handled quickly.
- We respond to all calls and follow-up any questions, concerns or complaints as quickly as possible.
- We strive to keep great relationships with both owners, tenants and vendors.
- We always try to insure that the owner’s property is always properly maintained and monitored.
- Leasing: Our job is to know the rental market in the communities we serve. We understand the market and do our best to market your property using methods we’ve developed to find you the best possible tenants at competitive market rents.
- Financial: Honesty and integrity is paramount, so we strive to maintain accurate records for you peace of mind. We’ll manage every aspect of your investment, from collecting rent to paying bills. All transactions are accompanied with a statement of your account. All income and expenses are clearly stated. We provide itemized monthly and annual account statements.
- Maintenance: It’s our job to make sure that your property stays in top condition, so we’ll make periodic visits to check that everything’s in order. We answer our phones 24 hours a day (weekends and holidays included) to make sure that emergencies are handled quickly, and supervise all repairs to verify they’re made correctly.
You probably have lots of questions. if so, please check out our Frequently Asked Questions, (FAQ)