PROPERTY
MANAGEMENT SERVICE
Property management fee:
• Only
10% of rental income for full service management.
• Or 60% of 1st month income for
set-up only option.
• No
account establishment fees.
• No
over-ride on maintenance or repair work.
• No
leasing fees.
• No
management fee until rent is received.
What the full management fee covers:
• ALWAYS
THERE. We
are available 7 days a week to insure prompt response to maintenance and repair
requests, and to show your property to prospective tenants at their convenience.
•
EXTENSIVE ADVERTISEMENT:
1.
Your property will appear on the Multiple Listing
Service (MLS) where over 5,500 Real estate agents have access. We also offer a
referral fee to property managers and real estate agents.
2.
Your property will be on our websites listed and
on other targeted websites specializing in rental properties worldwide
exposure.
3.
We continuously check our tenant waiting list for
prospective tenants.
4.
We participate in an exchange network with other
cooperative property management groups, for available homes and tenant waiting
list, to maximize results and find the perfect match.
• TENANT
SCREENING. We run a credit report on prospect tenants upon
receipt of the application. In addition to the credit report, we verify given
information by interviewing present and previous landlords as well as their
employers. After collecting and verifying all the information we submit the
results to the homeowner for final decision to either accept or reject the
application.
•
RENT COLLECTION:
Rents are typically due on the first day of each month, with four days grace
period. We collect the rent for you and mail you the rent within three business
days after the fourth day of grace period. In case an eviction is necessary we
will represent the owner in court.
•
WE INSPECT YOUR PROPERTY:
Before new tenants occupancy we inspect the property to verify move-in
condition. A “Move-In” report is generated and photographs will be taken to
record the visual inspection. The same process will apply at the move-out
phase. During the rental period we perform periodic drive-by inspections to
check for apparent abnormalities. A written notification will be sent to the
tenant if a violation of house-rules or regulations is noted. If necessary, an
inside inspection will be performed. The neighbors will also be informed that Realty
World Homes and Estates is managing your property and we will supply them with
our contact information, in the event that something they believe needs our
attention occurs.
•
MAINTENANCE AND REPAIR COORDINATION:
When maintenance or repair service is required, we will contact the appropriate
professional for the job. We offer flexibility in using your choice of
professionals, or to use our licensed and bonded team.
• ACCOUNTING
AND FINANCIAL STATEMENTS: After signing the property
management agreement, all the money received from the homeowner and from the tenant
will be placed in a bank account. A start-up deposit is required from
homeowners and all the legitimate expenses will be paid from this account. A
monthly revenue and expense statement will be issued. We will attach copies of
all maintenance and/or repair invoices. At the end of the year we will
facilitate the preparation of your income taxes by issuing a special year-end
account analysis report.
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•
CONTRACT FORMS AND
DISCLOSURES: We will provide the entire updated
contract and disclosure forms necessary for the protection of
your interests.
•
POST TENANCY CLEANING
SERVICE. Realty World Homes &
Estates will
coordinate this service, if necessary.
What the property
management fee does not cover:
•
HOMEOWNER’S AND PROPERTY
INSURANCE.
•
HOME OWNER ASSOCIATION FEES:
The HOA fees are not included in the management fee but upon
homeowner’s request and authorization we can include it in the monthly
rental expenses and issue a payment on the owner’s behalf.
•
COST OF MAINTENANCE AND
REPAIR: Although Realty World Homes & Estates
coordinates all the repair and maintenance services, we are not
responsible for the respective payments.
•
MORTGAGE PAYMENT.
•
PROPERTY TAXES.
•
LEGAL FEES.
•
DELINQUENT RENT COLLECTION
SERVICE: In the situation where the rent collection is overdue and the
tenant doesn’t show signs of cooperation, a credit collection company will be
hired to continue the process and to report, delinquency and eventually
eviction to the main Credit Bureaus. Cost and fees are not included in
management fee.
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