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“B” |
MANAGEMENT PROCEDURES
Property Management Owner Contract (Start-Up)
- Full evaluation of the rental unit including condition, recommendations for marketability & repairs (if needed) and market assessment for current rental value
- Assistance in establishing maximum capacity & income to Property Owner
- Advertise rental property for lease/rent in the Brokers Listing Cooperative (MLS)
- Marketing property on multiple websites including:
ClassicRealtyIndy.com
Realtor.com
Yahoo.com
Mibor.com
YellowPages.com
YellowBook.com
BBB.com
- Professional Signage displayed in yard
- Managing all incoming ad & website inquiries
- Scheduling appointments and showing the property
- Screen potential tenants (credit/eviction/criminal check)
- Verify income, employment & current housing status
- Evaluate all reports and information
- Consult with Property owner & make recommendations to approve or decline applicant
- Collect & Retain Security Deposit in Classic Property Management Escrow Account
- Negotiate Lease Agreement
- Check-In new tenants with photos & written documentation
Professional Experienced Management Services
- Classic Realty is the point-of-contact for all tenants
- Manage tenant calls for problems and repair service 24 hours / 7 Days per week
- Troubleshoot & Manage necessary repairs & service (including utilities as needed)
- Collect and deposit monthly rent
- Handle delinquent rents, following up with phone calls, mail, personal visits, etc
- Accounting/Monthly reconciliation of accounts (monthly reports & owner rental income checks mailed by the 15th)
- Year end reports for accounting & tax purposes
- Periodic Inspection as needed
- Renew lease if appropriate
- Check-out and manage all clean-up/repairs as needed after move-out
- Itemize move-out charges deducted from security deposit and forward to tenant with the balance of the security deposit
- Statement of charges and final figures sent to owner
Management Fees* for Professional Services Rendered
- 12% of Gross Monthly Rent Collected and $400 start/up completion fee
- Multi-family and commercial property management fees are between 10-15% and are considered on a case by case basis