For Landlords

For Landlords

The Property Management Services we provide...

Our state of the art Property Management system means that you can be in touch with us 24/7, view work orders, and Owner Statements online.  We except online tenant payments making it very easy for tenants to pay on time and can also direct deposit owner proceeds for your convenience.

Top 100 US Landlords

Leasing Services

A Leasing Professional is dedicated and trained to minimize the vacancy loss for your property.  They will review and complete a competitive market survey and evaluate your rental unit when it becomes available for rent to insure the highest and best use of the property.

We will carefully screen all applicants with former landlords, current employers, credit history, and criminal background check at no cost to the Owner.

With our years of experience and networking we can expose your property through cross referencing and exchanging leads with other management firms, MLS, various internet web sites, such as hotpads.com, trulia.com, realtor.com, remax.com, and, of course, renteastvallyhomes.com, as well as many other sites.

We will create and place all advertisements for you with several types of media.  Leasing fees are separate from Monthly Management Fees. The Leasing Fee is 6% pf the gross lease.
 


Asset Management


Bi-Annual inspections are done to note the general condition of the property, and assess the condition of the interior and exterior for any deferred maintenance items.  A written inspection with detailed description and photos is provided to the Owner.

Maintain property in good operating condition and repair, including keeping property in clean, orderly and sanitary conditions and in compliance with legal requirements.

Negotiate contracts for services, including utilities, trash removal, landscape and other necessary services.

Secure competitive bids for all work in excess of $500, review bids and provide recommendations to Owner.

Maintain business-like relations with vendors and residents and respond in a systematic and timely manner to requests for services on the property.

Maintain a pool of properly licensed and insured vendors for various trades.


Fiscal Services

Collect and record all rents and other sums due Owner.

Aggressively follow up on deliquencies through the use of notices, letters, telephone calls and personal contact.  Refer accounts for collection and legal action as needed.

Disburse operating funds as provided in the management agreement and as authorized by the Owner.

Notify the Owner of any known or anticipated costs that exceed the normal maintenance and operating plan.

Prepare a monthly financial report that provides an overview of all property operations.

Maintain separate security and operating accounts.

Provide annual 1099s to Owner and vendors.

Prepare annual operating budgets and perform forecasts as requested by the Owner.

Use state of the art property management software.


Fees

The services performed by RE/MAX Masters in an ordinary, day to day management of the property include collection of rent, handling all communication with tenants, coordinating any normal, routine maintenance, payment of mortgage(s) and all other expenses, payment and coordinator of City Sales Tax licensing, coordinating all advertising, showing the property to prospective tenants, periodically checking the property and sending monthly statements and receipts to the owner.

Management Fee for a Single Family Residence with a minimum 6 month lease is 10% of the collected rent, unless Owner requests management to provide services above and beyond what is normally provided of the property.  In such cases, the fees will be negotiable.

Management is in the business of managing and helping the Owner retain and/or increase the value of your investment and to maximize your profits.  To accomplish this, RE/MAX Masters Property Management requires the following from the Owner:

Routine maintenance between tenants each year or approximately every two or three years as needed.  If the cleaning, painting, etc. is needed more often because of tenant abuse, tenant will be charged for the cost.  Owner should pay for any fertilizers, weed and feed, and any pesticides used on the property's grounds.

When Property Management initially takes over the management of the property,  a $250 repair reserve mentioned in the management agreement is requird to open your account.

When owner's account is in a deficit condition (negative balance),  Owner must immediately send funds to Property Management sufficient to put the account into a condition that meets the requirements set forth above.

Accounting Procedures:  Rents collected, all mortgages and other bills are usually paid from the first to the tenth of each month.  Monthly Owner Statements are prepared and the Owner's checks written, if applicable, on the tenth and twentieth, mailed by the twentieth - barring unavoidable delays or holidays.  Because of the number of properties being handled, a set routine is necessary to keep the Owner properly informed and for Property Management to act in a timely manner.

When any property is kept vacant for any purpose (i.e. sale and/or occupied by someone other than a paying tenant) at the request of the Owner and still managed by Property Management, a minimum fee of $25 per month will be charged to the Owner.

If we are required to represent the Owner in court, the costs will be as follows:

(a)There will be no Property Management charges for us to represent the Owner in court for evictions.  However, all courts costs, filing fees, attorney fees and all legal costs connected with unlawful detainers (evictions) will be paid by the Owner.

(b)In cases where we have had legal counsel advising Property Management not to pursue a controversial claim in court but are requested to do so by the Owner, a $25 per hour fee will be applicable and paid by the Owner to Property Management.

Property Management will serve necessary notices and provide other collection activities for non-payment of rent and for any other purpose, and we will be the Owner's representitive in any Unlawful Detainer Actions (evictions).  Property Management will however retain all late and non-sufficient funds charges collected for providing these and other collection services.

Property Management will make up the necessary documentation and perform necessary services for renewals and subleasing to existing leases for additional charge of $150 to the Owner.  Property Management may collect for a credit application fee or a subleasing administrative charge and need not account for such charges and/or commissions to the owner.


Paperwork...  How to get started

Once you have decided to use The McKinley Group, RE/MAX Masters property managers to represent you as leasing agents and Property Managers for your investment property, how do we get started?  Almost everything in the process can  be handled by e-mail or FAX.  We will gather information from you (including Tax ID numbers or Social Security numbers so the taxable income can be reported to the government), and prepare the Property Management Agreement.

The Agreement will have been completed according to the specific terms and conditions we have mutually agreed upon, and we will most likely e-mail that agreement to you via secure electronic signature system.  We will also provide you with a form called the SPDS which is basically the landlord's disclosure of the property condition.

If the property was built prior to 1978, you will also be provided with a Lead Based Paint Addendum.  This is basically a disclosure that the property was built before Lead-Based paint was removed from the market, and we will provide the new tenant with valuable information about protecting their family from Lead-Based paint.

Once the Property Management Agreement  is completed and we have the signed representation agreements and access to the property, we will make another visit to the property and complete our own inventory of the property, using the Property Condition Report.

During this visit to the property, if the property is vacant, we will take the opportunity to photograph the property from various angles for advertising and photographic documentation of the condition of the property.  During this time, we will also put up the Lease sign and lockbox on the property.

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