Property Management Services

1
Property Management Services
2
State of the Market

• Although there are signs of stabilization.
  oversupply of homes on the market and low
  absorption rates have forced a decline in
  property values.
• Low absorption has forced relocating sellers to
  place their properties into rental programs,
  causing a record number of vacant, available
  rentals.
• Newer (never rented) properties, priced below
  market are drawing tenants out of previously
  rented properties which are often less desirable.
  New apartment complexes add to the oversupply.
• Landlords are now offering incentives to the
  limited number of prospective tenants in order to
  help reduce vacancy loss.

3
Current Landlord Strategies

• Retain tenants aggressively pursue lease
  renewals 60 days (or more) prior to expiration.
  Offer incentives if necessary.
• Maintain properties in above-average condition.
• Aggressively market properties prior to vacancy
  and competitive rates and terms, incentives if
  necessary.
• Be selective, avoid marginal tenants with
  unfavorable history.
• Maintain ongoing tenant communication
  anticipate collection problems.
• Aggressively pursue rental delinquency and
  eviction if necessary.

4
Property / Client Set-up

• Gather detailed property information.
• Obtain photographs.
• Input detailed information and photos into MLS
• Input detailed information and photos into AHRN.
• Add property to all marketing lists.
• Order Yard sign from vender.
• Add all data to Yardi accounting system.
• Establish preferred vender list with client.
• Create property information flyer.
• Email Information to key contact list and HR
  departments of leading employers.
• Obtain keys and install lockbox if necessary.
• Fee 200

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Tenant Procurement

• Market for prospective tenants
• Accept applications, obtain credit report and
  check references.
• Create lease agreement, appropriate addenda and
  disclosures.
• Obtain tenant signature on lease.
• Receipt tenant deposit initial rent payment.
• Deliver lease documents to owner.
• Send lease documents to attorney for review.
• Cost one month rent less set-up fees paid.

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Full Service Management

• Complete property management client setup.
• Complete Tenant Procurement.
• Fully execute the lease.
• Accept deposit and initial rents to escrow
  account.
• Manage all maintenance and repair issues.
• Manage all collections and delinquencies.
• Complete all monthly accounting owner reports.
• Create annual statements and 1099 forms.
• Make short and long term maintenance
  recommendations to owner.
• Fee 10-15 of rent collected.