- Few to 0 showings: the market is not accepting our price and we need to re-evaluate immediately.
- 5-6 showings: prospects are interested. If you are not receiving an application or feedback, we request comments about the property from showing agents in order to address any concerns prospects are having.
- Many showings and applicants: the property is in excellent condition and rent is priced accordingly.
17. The tenants have five days from establishing occupancy to complete the “Inventory and Condition Form.” You will receive a copy of the inventory sheet and a link to the BMI photos to review for accuracy.
18. If your tenant’s move-in date is between the 8th and the 31st of the month you will receive your first disbursement the following month. For example, if your tenant moves in on March 8th then you will receive your disbursement on April 10th.
- Expenses include: 50% leasing fee, 8% management fee (pro-rated), and $250 repair reserve (this is considered an expense but it’s your money held in a trust account).
- Example: the tenants move in on March 15th. Upon move in they were responsible for a full$1800 monthly rent. On April 1st they’ll be responsible for $960.
- For this second dismemberment expect the difference of your rental income minus the 8% monthly management fee and any repairs that you approved.
24. If your tenants wish to renew, we will send you a report with a revised CMA, the number of late payments by the tenant, and the number of repairs requested by the tenant in order to determine if you want to renew to these tenants and under what terms.
26. If your tenant decides to move out, we require them to notify us in writing 45 days prior to their lease expiration. This gives us sufficient time to prepare the property and find a new tenant exactly 30 days prior to the tenant’s expiration date.
29. The move-out inspection documents the condition of your property and determines if the tenants need to be charged for any damage. We review the inventory and condition report that the tenants submitted at the time of their initial move-in to help make this determination.
30. We’ll obtain bids for the work needed to bring your property back to its move-in condition. We’ll address the tenant repair immediately, as the cost of these repairs will come from the tenant’s security deposit.
32. If the tenant argues their charges the property manager will contact the tenant to address the situation. Our inspections allow us to show proof of the property condition and substantiate the charges occurred.