Below is a detailed outline of everything included with our Full-Service Property Management
Our first step is to collect as much data about your property as we can. Not only do we speak with you, but we verify all data through previous rental history, county records, and a personal inspection. We compare your property with similar rental properties within the market to see what your property will rent/lease for. The process followed in the evaluation is similar to any Appraisal process followed when an Appraiser evaluates a property. We are happy to help coordinate or complete any needed maintenance tasks in order to get your property in rentable condition.
We are highly motivated to fill vacancies ASAP. Our marketing strategy focuses on targeted ways to bring prospective tenants to be interested in your property. We reach out to existing clients looking for a home, post signage on the property, advertise on our web page, rental web pages, social media, and other organizations.
We take tenant screening very seriously. We have a leasing agent personally meet and interview all perspective tenants. The application process includes credit checks, criminal background checks, income checks, employment confirmation and rental history inspection. As we show the property to prospective tenants, they are informed of the lease terms, tenants qualification standards and renters insurance requirements.
Please refer to our Lease Agreement. At the time a tenant/lessee moves in to your unit we fill out the appropriate lease and condition report. When a tenant moves in the future this document, along with our photos, prepares a visual for us as to the condition of the unit when they moved in. This helps us know how much of their deposit is to be refunded.
Throughout our management of your property and each lease we collect rents and deposits, disburse rents to you after paying any expenses incurred that month and then provide a detailed monthly statement. Our monthly rental owner statements include your income and expenses for your property and copies of all invoices are available to you 24/7 via your online owner portal. We handle any maintenance needs for your property (outlined below) and provide thorough property inspections annual, as well has "drive-by" inspections twice a year.
Possibly the most stressful part of managing/owning property are the times when unexpected problems happen. We have decades of experience to handle problems and keep cost down. We always bill the tenant for anything that is not general wear & tear (clogged disposal, sewer backup, etc). Owners are notified and contacted for approval on any maintenance that needs to be completed in which the cost exceeds $300. Ongoing maintenance such as sprinkler system service, furnace cleaning, swamp cooler servicing, etc can be handled by our in house maintenance. Should the property be vacant the home owner is required to pay for any maintenance to be performed in advance. Once the property is occupied, any costs that will exceed the incoming rent should be paid in advance.
Monthly ledgers are provided to see your property account of type of income received (monthly rent, late fees, funds from you etc...), expenses (maintenance, mortgage paid, vendors etc...), and disbursements to you throughout the year.
It would be nice if this practice were to never take place. It is difficult for both sides as well as expensive. There must be a violation of the rental agreement to allow you to proceed with an eviction. There is only one situation where no notice need be given to the renter. That is where a lease by its terms ends and no provision is made for the renter to hold-over or for the lease to renew automatically. At such time court action may be taken without further notice to the renter. However, it is always better to advise the tenant with a 30 day notice prior to the expiration of the lease, or with a 15 day notice should the tenant be on a month-to-month tenancy.
There are 3 types of evictions. A 3-Day Notice to Pay Rent of Vacate: this notice is used when the renter is behind on rent and can be served any time after the rent becomes due. The notice must give the renter the alternative of paying the rent or vacating the premises. A Nuisance Notice: this is used where there may be loud parties, property destruction, or unlawful activity. It may be when assignment or subletting is being done without the owner's consent. This is to be used in situcations where the renter really can't cure the problem or would start up again on another day. The 3 Day Notice to Perform Covenants of the Lease or Surrender the Leased Premises: This notice is used where the renter is violating the lease but could cure the problem. The renter has 3 days to either cure the problem or move out.
Anyone over the age of 21 years of age as designated by the owner or managing agent can serve the preliminary eviction notice. These notices can be served in 4 ways: 1) Delivering a copy to the renter personally. 2) Leaving a copy of the notice with someone over the age of 13 years and mailing a copy to the residence via regular mail addressed to the renter. 3) Posting the notice in a conspicuous place on the rented premises. 4) Sending a copy via certified mail addressed to the renter at the place of residence.
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Fees are determined by our cost to do business. At the time of the signing of the Utah Property Management Agreement, there is a $100.00 sign up fee. A rental commission from between 8 (multiple units) to 10 percent (single family) is charged on all rents collected. This percentage changes depending on the number of units you may have, or the amount of rent collected. You are not charged a fee when the unit is vacant. However, should there be excessive work needed to be done to evict a tenant, perform maintenance at the time we assume the management of your property, or costs to advertise your property, additional fees or commissions may be required. Each time a new tenant is put in the unit we collect from the prospective tenant, a "tenant initiation fee" of $200.00 to originate the process. This comes out of their deposit. We pay for the screening of the tenant, time in showing the vacancy, and filling out the lease. You as an owner do not pay us a fee each time it comes vacant. Additional costs you may have are: newspaper ads, maintenance, utilities, and evictions.
With single family detached homes, tenants pay all utilities including: gas, electricity, water, sewer, and garbage. The water and sewer stay in your name, but are forwarded to us. We review them to make sure they were paid from the previous month then forward them on to the tenant. On attached or duplex properties (those not separately metered), tenants generally pay only the gas and electricity. On these properties the water and sewer bills stay in your name, but are forwarded on to us. We pay them out of your rent proceeds. Remember, that during a vacancy you will have costs that the tenant normally would pay for if the property were occupied.
If the tenant remains in the property, eviction costs are paid by them. Any cost of posting an eviction notice comes from the late fees collected with the balance being passed on to you. The attorney will collect any further costs should additional eviction proceedures be necessary.
Should an eviction be required at the time your property is turned over to us, eviction costs must be paid in advance.
Utah Property Management Agreement
Please refer to our Utah Property Management Agreement. This is important to not only define both of our responsibilities, but also may clarify any misunderstandings. We generally go for a year at a time. This makes the initial effort we put in to renting your property an incentive for us. We're in this for the "long haul". We'd like to be standing as long as your property does.