Palo Altos Property Management
What We Do As Your Property Manager:
Evaluate the Property and Determine a Rental Rate
Market the Property
Annual and Safety Inspections
Maintenance and Upkeep
EVALUATE THE PROPERTY AND DETERMINE A RENTAL RATE
Meet at the property, discuss goals, plans, etc. for the property and provide a possible rental rate
Offer recommendations on repairs and cosmetic improvements that maximize potential monthly rent while providing a good ROI
Discuss with owners the pros and cons of different policies such as accepting pets, etc.
Install a lock box
MARKET THE PROPERTY
Prepare home for rent
Make sure the property is safe and maintained
Create ads tailored to the property and advertising in 50+ locations:
Paid and free rental listing websites
Flyers and e-flyers
Advertise and work with local realtors
Partnered with Google, Apple, Ebay, etc. to insure access to high quality tenants.
Meet prospective tenants for showings 7 days a week.
Provide prospective tenants with rental applications that are legally compliant with fair housing laws.
TENANT APPLICATION PROCESS
Perform a background check to verify identity, income, credit history, rental history,
contact and speak with current landlord and current employer etc.
Notify Owner of applicants and included them in the decision making process.
Draw up leasing agreement with agreed move in date.
Continue to market until deposit is received at the office.
Review lease guidelines with tenant regarding things like rental payment terms and
required property maintenance. Grant access to Tenant Portal website.
Ensure all agreements have been properly executed.
Perform detailed move in inspection with tenant and have tenants sign a report verifying the condition of the property prior to move-in.
Collect first month rent and proof of renters insurance at move in if not yet received.
Follow up with late payments
Sending out pay or quit notices
Enforcing late fees
ANNUAL AND SAFETY INSPECTIONS
Perform annual safety inspections (inside and outside) on a predefined schedule
looking for repair needs, safety hazards, code violations, lease violations, etc.
Send owner reports on the condition of the property.
Provide accounting property management services.
Make payments on behalf of owner (Mortgage, insurance, HOA dues, etc.)
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 AND UPKEEP
Establish a preventative maintenance policy to identify and deal with repair needs.
Provide a network of licensed, bonded and fully insured 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 Provide Gardening Service (owner's expense)
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
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
Re-key the locks.
Put the property back on the market for rent.
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