What You Can Expect From Realty Services.
This is to present your benefits our property owners can expect to receive from Realty Services. In establishing a personal and business relationship with our clients, it is important that each party understands exactly what is expected of the other. Our primary objective is to attain the goals and objectives of our clients and your rental properties.
We know that by familiarizing you with our administrative process of how we manage your rental property, we can avoid surprises that could occur later on. It is important that you realize that we will move ahead with our property management process as outlined herein, unless you otherwise direct us in writing. Therefore it is to your benefit to review and understand the following services that are automatically provided and implemented by Realty Services for the benefit of you and your property.
The following is an outline of some of these benefits and services that you as our
client can expect us to automatically provide and institute on your behalf:
- You can expect that we will place our attractive "Home For Rent" yard sign on your property, (if allowed) at least two weeks prior to any known vacancy, or immediately if you have just listed your rental home with us.
- You can expect that our office will schedule showings of your property with our property managers 5 days a week or the resident will sign keys out and return them until your rental home is leased.
- You can expect that all-rental applicants will be subjected to:
- A credit report on each adult rental applicant.
- An eviction and criminal search of the local Florida public records to ensure that the applicant has not been evicted in the preceding 7 years or have a felony.
- A verification of applicant's former landlord's references.
- A verification of the applicant's employment or income.
- You can expect that we will lease your property at the asking amount of rent, (as outlined in your management agreement with us) or higher. You can expect that we will not lease your property at a lower amount without first obtaining your permission.
- You can expect that once the rental applicant process is approved, we will complete and execute the lease agreement and give the residents possession of your rental home.
- You can expect that we will conduct a "Move-In" property inspection and complete our detailed property inspection data sheets of your property. We also generally videotape each property to document move-in condition as well.
- You can expect to be notified by our company that your property has been leased. A copy of the lease agreement is available once all parties have properly executed it and the residents have taken possession
- You can expect that we will attempt to renew the residents lease at least 45 days prior to the expiration of their lease agreement.
- You can expect that we will renew the residents lease for another year at the same or at a slightly higher amount of rent, if possible. We will not renew the lease at a lower amount, without your specific permission to do so.
- You can expect that we will place our home for rent sign and begin showing the property for lease as outlined in the leasing section above if possible, in the event that the current residents are not renewing their lease.
- You can expect that we will renew the residents lease agreement, or re-rent the property to new residents, unless we have a written directive from you not to renew the lease or re-rent the property.
- You can expect that we will conduct the following property inspections on your property:
- When your property is vacant, we inspect it at least every 2 weeks.
- We conduct other periodic inspections when requested or if we determine that checking out the property is warranted.
- We will conduct a "Move-In" inspection prior to new residents moving into the property. We generally also video tape this inspection as well.
- Within 30 days after the resident’s move in, we contact the residents to ensure that all is well with your property and your residents.
- Between the 8th & 10th month of the residents lease we discuss with the residents their desire to renewal their lease.
- When the residents move out of your property, we do a "Move-Out" inspection and document the condition of the property. We also generally videotape this inspection.
Rent Collections & Delinquencies
- At Realty Services, we do not tolerate the delinquent payment of rents. We are careful to explain this policy to new residents in order to avoid any misunderstandings that might arise later. Our rent collections & delinquencies policies are as follows:
- You can expect that we will make every effort to collect rents timely and when due on the 1st of each month.
- You can expect that we will mail or call your resident a "Friendly Reminder" if rents are not collected by the 3rd of each month.
- You can expect that we will "Hand Deliver" or post on their door a 3-day notice, (Florida's legal prerequisite to an eviction), between the 7th and the 10th of the month.
- You can expect that we will turn delinquent residents over for an eviction to be filed on or shortly after the 15th of the month.
Rent Processing & Accounting
- At Realty Services, our property management software is the top property management software in the industry.
- You can expect to receive a monthly computerized report showing all income and expenses of your rental property.
- You can expect to receive a year end summary statement for your tax purposes showing all of your yearly income and expenses and categorizing the income and expenses.
- Our property owners can expect that we will process your proceed payments to you on or before the 20th of the month.
- You can expect that we will make your association payments, if you so direct provided that adequate funds are available in your property trust account. You can expect that we will not make these payments if adequate funds are not available in your trust account.
- You can expect that in the last month of a residents’s lease, we will hold funds in your trust account to protect you by ensuring that adequate funds are available to make your rental home "rent-ready", thereby ensuring faster lease ups and less vacancy time.
Property Maintenance & Repairs
At Realty Services, to ensure quality service and perhaps reduce the amount of maintenance requested, we require your residents to submit all maintenance requests in writing unless it is of an emergency nature.. Also to keep your cost of service down, we charge new residents some of the service call.. We believe this will encourage residents to make their own repairs. This will keep your maintenance costs down by involving the residents in the repair expenses. However, rental homes must be properly maintained in order to preserve the value of the property and maintain a positive relationship with the residents. Florida also has laws that require landlords to comply with certain basic maintenance and repair items.
- You can expect that Realty Services will not effect repairs to your property in excess of $500.00, without first obtaining your approval. Note: This excludes emergencies and repairs that are required by law to be effected to your property.
- You can expect that if your property is vacant, we will effect items necessary to improve the property's show-ability to prospective renters. This means faster lease ups and less vacancy for you. Examples would include: lawn service, carpet cleaning, maid service, pool service, utilities and painting when necessary. In the event that any of these repairs were due to the former residents tenancy, you can expect that we will spend all of their security deposit first (not your money) to put your property back into it's pre-rented condition.
- You can expect that we will institute minor maintenance & repair items ($500.00 or less) as requested by rental applicants to secure a lease to quality residents for your rental property. To avoid the possibility of major liability to you we also change the locks between each tenancy.
- You can expect that during the residents tenancy, we will institute minor maintenance & repairs ($500.00 or less) when deemed by us to be necessary for the preservation of your property and/or the continuation of the residents tenancy, usually occurring at the renewal of their lease.
- You can expect that we will only use repairmen, vendors and tradesmen that are properly licensed and insured to handle the type of work being performed on your property.
- At Realty Services, we believe that communications are the essential element in the success of management. That is the underlying reason for the creation of this "Property Owners Handbook" and our "Residents Handbook" for all of our residents.
- In today's business environment, no one can assume to know or read the mind of another, or be certain of their goals and objectives. To this end, Realty Services has gone to great lengths to be accessible to our residents and property owners.
- You can expect to receive virtually any answer regarding our company policies here on our web site.
Thank you for taking the time to review our "Property Owners Handbook"! We believe it is time well spent, especially for our newer clients. We trust that your experience with our firm will continue to be a pleasant experience and look forward to working with you and your property in the future.
Please do not hesitate to contact us directly any time we may be of service!