Property Management Leasing & Rental Management

Services Rendered On Your Behalfmichigan-property-rental-managment

  • Create ads tailored to the property and advertising medium. Some of the mediums commonly used are:
    • Paid and free rental listing websites
    • Virtual Tour On Every Home
    • 800# Talking Home 24/7
    • Eye Grabbing Sign To Peak Maximum Interest
    • Multiple Listing Service For Over 10,000 agents to see in Metro Detroit
    • Fliers on sign so prospective tenants can take your property info with them
    • Text Message Sign Riders, Tenants can text a code to get pictures of your home right on their cell phone within minutes.
  • Work with other realtors and leasing agents to find a tenant
  • Market to over 6,300 tenants in our private database of renters
  • Provide a 24-hour hot-line where prospective tenants can listen to detailed information about the property
  • Field calls from prospects for questions and viewings
  • Meet prospective tenants for showings throughout the week and weekend.
  • Provide prospective tenants with rental applications that are legally compliant with fair housing laws
  • Collection of applications, paystubs, rental history, employment verification, etc

Tenant Screening and Selection

A lot of property management companies will tell you they screen their tenants, or that they will run their credit, but do you really think running credit is enough to make an educated decision on whether you have the right person living in your property? We don't and therefore take our screening process very serious. Our thorough screening process is the reason we have far less evictions and problems collecting rent and keep your property occupied for longer periods of time.

  • Complete credit evaluation
  • Verification of employment
  • Verification of income
  • Criminal bacground check
  • Eviction history from various courts in the area
  • Sex Offender list verification
  • Office of Foreign Assets Contral (OFAC) verification
  • Grade tenant according to pre-defined tenant criteria

Tenant Move In

  • Draw up leasing agreement
  • Confirm move in date with tenant
  • Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance
  • Ensure all agreements have been properly executed
  • Give tenant disposable camera to verify condition if there are any issues that need to be noted & have tenants sign a report verifying the condition of the property within 7 days of move in or accept in as-is.
  • Collect first months rent and security deposit

Rent collection

  • Receiving rent
  • Hunting down late payments
  • Sending out pay or quit notices
  • Enforcing late fees

Evictions

  • Filing relevant paperwork to initiate and complete an unlawful detainer action
  • Coordinating with Attorney for legal representation in court
  • Coordinating with law enforcement to remove tenant and tenants possessions from unit

Legal

  • Advise in the event of a legal dispute or litigation
  • Refer owner to a qualified attorney when necessary
  • Understand and abide by the latest local, state and federal legislation that apply to renting and maintaining rental properties.

Inspections

  • Perform annual inspections if necessary (Inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
  • Send owner periodic reports on the condition of the property when repairs are needed

Financial

  • Provide accounting property management services
  • Detailed documentation of expenses via invoices and receipts
  • Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
  • Provide annual reporting, structured for tax purposes as well as required tax documents including a 1099 form
  • Advise owner on relevant tax deductions related to their rental property
  • Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses

Maintenance, Repairs, and Remodeling

  • Provide and oversee contractors for repair maintenance issues that arise
  • Establish a preventative maintenance policy to identify and deal with repair needs
  • Provide an network of contractors who have been vetted for good pricing and good work that is up to code.
  • Assign jobs to different parties (in-house employees, handyman and professional contractors) based on who will do the best job for the best price.
  • Maintain and monitor a 24 hour emergency repair hot-line
  • Larger renovation or rehab projects
    • Provide recommendations on how the project can maximize rental income.
    • Prepare preliminary cost estimates
    • Get multiple independent bids for the work
    • Act as general contractor overseeing the work

Tenant Move Out

  • Inspect unit and fill out a report on the property's condition when the client moves out
  • Provide tenant with a copy as well as estimated damages
  • Return the balance of the security deposit to the tenant
  • Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in owner reserves for repairs.
  • Clean unit and perform and needed repairs or upgrades
  • Put the property back on the market for rent