Evaluate the property and determine an accurate rental rate
1. Perform detailed walk through assessment of the interior and exterior including photos.
2. Meet with owners to review property assessment. Offer recommendations on repairs and cosmetic
improvements that may maximize monthly rent potential while providing good Return On Investment
3. Research current data on rental rates on comparable properties in the area. Provide owners with timely
data to determine the optimal rental rate.
4. Provide owners the relevant data to decide and set policies (accepting pets, additional deposits, allowing
smoking etc.) to meet prospective tenant requests.
5. Finalize property management agreement with owners.
Market the property for rent
1. Install a lock box.
2. Insure property is cleaned and optimize interior and exterior appeal prior to showing.
3. Market the property for prospective tenants.
Some of the mediums commonly used are:
a. Rental listing websites.
b. Print publications.
4. Stage and conduct an open house to introduce the property to market.
5. Work with other realtors and leasing agents to find a tenant.
6. Field calls from prospective tenants for questions and schedule viewings.
7. Meet prospective tenants for showings throughout the week and weekend.
8. Provide prospective tenants with rental applications that are legally compliant with fair housing laws
9. Collection of applications.
Tenant Screening and Selection
1. Perform a thorough background check to verify identity, income, credit history, rental history, and
related information provided by applicants.
2. Provide background check information to owners and assist in the selection of suitable tenants.
3. Coordinate the application process with prospective tenants.
4. Complete the leasing agreement with owners and new tenants.
a. Review lease guidelines with tenant regarding issues such as rental payment terms, property
maintenance procedures and problem resolution procedures.
b. Collect first months’ rent and security deposit(s).
Tenant Move In
1. Coordinate move in date with new tenant.
2. Perform detailed move in inspection with new tenant and have tenants sign the inspection report
verifying the condition of the property prior to move-in.
3. Provide owner with a copy of the inspection report.
1. Receive monthly rent payment via personal check, money order, cashier check or direct deposit.
2. Enforcing late payments policies, if required.
1. Filing relevant paperwork to initiate and complete an unlawful detainer action.
2. Representing owner in court, if required.
3. Coordinating with law enforcement to remove tenant and tenant possessions from unit, if required.
1. Perform periodic interior and exterior inspections to determine the status of the property, repair needs,
safety hazards, code violations, lease violations, etc.
2. Update owner on the condition of the property (via email or phone)
1. Open a trust account in the property name
2. Deposit owner’s proceeds into their bank account.
3. Make agreed upon payments on behalf of owner, (i.e. HOA, Gardner, etc.) if required.
4. Maintain all historical records.
5. Provide annual required tax document 1099 form.
6. Provide monthly cash-flow statements documenting of income and expenses.
Maintenance and Repairs
1. Coordinate repair and maintenance issues resolution as they occur.
a. Use qualified license contractor/vendors.
b. Maintain documentation of expenses via invoices and receipts.
Tenant Move Out
1. Coordinate tenant move out date.
2. Inspect unit with outgoing tenant and complete a report on the property’s condition when the tenant
3. Provide outgoing tenant with a copy as well as estimated damages.
4. Coordinate the completion of any required repairs identified during move out inspection with tenant and
5. Return any remaining the balance of the security deposit to the outgoing tenant, if tenant funded repairs
6. Coordinate cleaning and any remaining repair or upgrade work to return the property to rental condition.
7. Re-key the locks.
8. Work with the owners to determine new tenant requirements and place the property on the market