Our Full Residential Property Management Package
Here is what is included in our Full Residential Property Management Package:
Property managers accept calls and inquiries regarding your home. They arrange appointments and coordinate showings of your property.
We have an impressive track record in placing quality residents. We attribute this success to our extensive marketing efforts, screening process and commitment to exceptional service. We believe the most important part of professional property management is finding a quality resident for your home.
Our marketing program is the best in Lawrence, KS. Most important is our reputation. We are known for quality homes and professional management practices. Promotion efforts include media advertising, rental brochures, hot lines, signs, flyers and our web site.
Overview of Marketing Resources
After a potential resident is located we conduct an extensive screening process. This process includes credit reports, reference checks and personal interviews. After acceptance, we complete negotiations, execute contracts, process documents and install the resident in the home.
Overview of Resident Screening
Property managers collect rents, deal with resident issues, periodically inspect the property and personally supervise the home. The manager provides an “arms length” relationship between owner and resident.
By maintaining excellent relations with our residents and diligently caring for your property, we avoid most potential problems. Residents are informed of their responsibilities regarding your property and their contracts. We will quickly and professionally settle any problems that may arise, with our clients’ interest in mind.
If there is a problem, whether it is collecting rents or settling resident disputes, we will handle the situation appropriately. We are knowledgeable in the Kansas Landlord-Tenant Act and all the legal and contractual relationships involved in renting property. If necessary, we are prepared to make a court appearance.
We utilize quality control procedures and proven business practices in the management of your home. In addition to the routine management of your home we are on call 24 hours a day 365 days a year.
Overview of Managing the Property
QUALITY MAINTENANCE: Property managers supervise maintenance.
We employ only the most skilled and reliable maintenance personnel. Property managers supervise necessary home maintenance. The actual maintenance expenses for the home are the responsibility of the homeowner. Every effort is made to control maintenance costs while maintaining the integrity and value of the property. Problem reports are verified to eliminate unnecessary service calls. Maintenance that is the resident’s responsibility or fault is billed to the resident. All maintenance personnel are properly licensed bonded and insured. Our staff oversees maintenance and contractors are not paid until all work is satisfactorily completed.
To control quality and to manage the high risk of litigation from a maintenance contractor or resident, we use your maintenance team for most routine maintenance needs. Our employees are experienced in the skills necessary for residential maintenance. To control costs we guarantee that the maintenance expense charged by our maintenance team on our managed homes will never be higher than the cost for the same work by another reputable contractor. In most cases our maintenance team are able to do the work at a considerable savings.
MONTHLY FINANCIAL REPORTING: Property managers provide monthly statements for your rental income and expenses.
We can handle all your accounting and payment requirements. Income checks and property statements are processed by the 15th of the month. Proceeds are either mailed or directly deposited electronically each month. A complete statement of your property account and an income statement are provided each month. Account history is stored on-line for three years. We can quickly search your records on request. At the end of the year, we prepare a complete package for your tax preparer. Periodically, we send information on the status of your home and the real estate market.
MANAGEMENT FEES AND OTHER CHARGES: Property management is a very competitive business. Some property managers only offer a standard management service while others offer a range of services. There are different ways property managers can charge for services. It is important to ask what services are optional or available. Be sure to understand all possible charges other than a percentage of the rent.
Fees and charges should be addressed completely in the property management agreement. Examples of common charges for a standard management service are: flat percentage of rent or a percentage of rent plus fees for individual services. Example of possible other fees are placement fees for locating a resident, charges for advertising, retained late fees and miscellaneous administrative expenses.
RATE SCHEDULE: Our fees are very competitive and are based on the services you request. Services are usually computed as a percentage of the rent, a flat fee, or a combination of both. The client controls the level and type of services. Services range from standard property management package or a combination of standard management and other services. We would be happy to meet with you and design a management package that fits your needs.