Property Management Services

1. Evaluate the property

• Perform detailed documentation of the interior and exterior including photos (rental inspection)
• Offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing good ROI.
• Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.
• Install a lock box

2. Determine an accurate rental rate

• Rent research will include looking at the recently rented comparable according to size and type.

3. Market the property for rent

• Prepare home for rent
• Clean home and optimize interior appeal
• Manicure landscaping to increase curb appeal
• Create ads tailored to the property and advertising medium. Some of the mediums commonly used are:
• Paid and free rental listing websites
• Print publications
• Signs
• MLS
• Fliers
• Work with other realtors and leasing agents to find a tenant
• 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 applications with application fee
• Specialized Boston Metro apartment marketing service available

4. Tenant Screening and Selection

• Perform tenant background check to verify identity, income, credit history, rental history, etc.
• Grade tenant according to pre-defined tenant criteria
• Inform tenants who were turned down

5. Tenant Management & Move In

• Prepare 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
• 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 months rent and security deposit

6. Online Rent Collection

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

7. Evictions

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

8. 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.

9. Inspections

• Perform periodic inspections (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

10. Financial

• Provide property management accounting 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

11. Maintenance, Repairs, and Remodeling

• Provide and oversee an in-house maintenance crew
• Establish a preventative maintenance policy to identify and deal with repair needs
• Provide an 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 outdoor areas
• Leaf and snow removal
• Landscaping
• Removing trash and debris
• 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

12. Tenant Move Out

• Inspect unit when the client moves out
• Return 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