Property Management Agreement (image: c-rem.com)
Do you own and run rental properties in Silicon Valley? Do you live outside or away from these properties? Are you managing the repairs, rental collection and tenant screening yourself?
Well, you are an ideal candidate to consider a property management company than can relieve you of these tasks. We at Homestretch Properties offer you the opportunity to enjoy the fruits of your wise investments without the dreadful task of managing tenants.
Below are the Top 6 property management services that you should insist on from any company that you consider given the fact that you are an out-of-state landlord. These services include:
1) Tenant Screening: At Homestretch Properties we rely on a Cloud based service to conduct tenant screening, background checks and applicant tracking. This minimizes the risk exposure for confidential information that is passed onto landlords since the applicants enter the data into a 3rd party system and you or your property manager does not have access to this data.
2) Eviction Services: This is the last resort if you have an un-cooperative tenant who is not making payments or causing trouble. But ask your property management company about their eviction history.
3) Rent Collection: Some tenants pay their rent late which causes huge problems specially if you are relying on these funds to make mortgage payments. So, depending on the tenant’s cooperation we use an online payment collections which is faster, secure and more reliable.
4) Regular Inspections: We rely and insist on routine inspections from the property management company you choose. In a recent inspection of one of our Los Gatos properties, we discovered that the tenants had chickens. But without routine inspection, we would have never discovered the violation and the damage to the property.
5) Low Cost Maintenance: Paying 8-10% for property management fee eliminate a huge set of problems that you no longer have to deal with. In fact, managing a property in one state while living in another one is simply crazy and is not worth the 10% cost.
6) Emergency Repairs: This weekend we got a text during the 49ers game that the oven in one of our Los Gatos rentals was not working. I can just imagine what our clients would have felt like getting that text instead of us. We are accessible to our client’s tenants on a 24 hours basis for emergency repair calls.
Feel free to Contact Us if you have any questions about these services.