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PROPERTY MANAGEMENT PROCEDURE
1. Discuss with owner(s) and sign the Rental Management Agreement Monthly Rental Rate and details regarding how you want us to manage your property.
2. Arrange for rental advertisements in daily newspapers and Rentals Illustrated at cost price. (Optional Expense)
- Immediately list vacant property on RMManagementLLC.com (our own company website), HiCentral.com (Honolulu Board of Realtors Website), on AHRN.com (Department of Defense Housing Website), and Craigslist.com (online classified ad website) - All of which are free advertisement.
3. Schedule all received inquiries from online and phone to view the unit as soon as possible. A Property Manager from our office will show the property and hand out applications to all prospective applicants.
4. Screen Tenants:
Verify information with applicant, usually they'll remember additional information we need.
Verify current employer and previous employer, if employment has changed in last year.
Verify current and previous landlords.
Verify additional income; Welfare, Section 8, Child Support, Alimony, SSI, etc.
Run credit bureau check.
Check bank statements for a history of bounced checks and funds to pay Security Deposit and First Month's Rent.
Run all applicant(s) names through Hawaii State Judiciary's Public Access to Court Information. This will show any appearance they have had in court, including eviction.
5. Once an applicant has been selected, we will collect Security Deposit and First Months Rent from tenant.
6. After funds have been received; all checks cleared, a Rental Agreeement, Fair Housing Form, Lead Base Paint Addendum (if applicable), and House Rules (if applicable) will be prepared and a Check-In date and time will be scheduled.
7. At Check-In, the Rental Agent will discuss in detail the terms and conditions of the lease with the tenant. All forms will be signed and dated. We will release keys, fobs and parking access (garage door clickers or security cards).
8. Should your home require or tenant call in any repairs, we will have our in-house maintenance team asess the situation. Almost 75% of the calls received can be taken care of in-house, saving the owner the cost of a 3rd party company.
10. Rent is due on the 1st of every month. A late fee is charged on the 5th business day payment is not received.
11. On the 6th business day, For all rent not received, Late Fees are charged, Late notices are mailed to tenant(s). We follow up with phone calls and if necessary, we leaves notices on their door.
12. On the 8th business day, For all rent collected, payments will be made on behalf of the owner for Rental Ads, Repairs, GE Tax, Yard Service, Maintenance Fees, Utility Bills, etc. A statement of monthly income and expenses will be mailed with net rent. You may also opt for your statements to be e-mailed to you and your check to be deposited in your bank account or credit union.
13. Should the tenant decide to move-out, as soon as we get notice, a letter will be sent to the owner. We will do a check-out inspection with vacating Tenants; prepare return of security deposit letter to Tenants with deductions for unpaid rents, late fees, and damages.
14. At the end of every year, at no extra charge we will prepare you an annual statement of income and expense to help you prepare you income tax return.
15. We will also prepare your IRS Form 1099 and mail copies to the State Tax Office.
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