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Owner Services

What can a Property Manager do for me?

 

Cardinalli Realty and Property Management Company will:

  • Actively market your property for rent.
  • Weekly inspections of your property.
  • Collect rents and distribute owner disbursements.
  • Handle repairs and maintenance of your property.
  • Handle the collection and disbursement of property deposits.
  • Handle collections and otherwise undesirable legal actions regarding the tenancy of your property.
  • Rate Analysis
  • Lease Administration
  • Building Maintenance
  • Marketing
  • Vendor Negotiations

Our office staff is available 7 days a week to show your home.

Further information and details of services are located in the Property Management Agreement and Rental Lease Agreement.

Fees

 

Management Services

Our normal management fee can range between 7-10% of each months collected rents (discounted rates available for multiple units).  This includes:

  • Collection of rents
  • Service of tenant notices
  • Appearance at eviction court
  • Repairs handled as owner directs
  • Arranging advertising at vacancy
  • Showing properties available for rent
  • Screening applications, writing of lease agreement, addendums, collection of deposits, assisting tenant in transferring of utilities
  • Regular inspections
  • Deposit refund evaluation and statement
  • Preparing property for re-rental
  • Monthly statement to owner(s)
  • Start your vehicles at least once per month
  • Oversee the gardener, cleaning person and anyone else working or entering your property.

 

Inspection Services

In order to document the delivery condition of your property, a detailed move-in/move-out inspection service is provided at a cost of $45/hr with a 3 hour minimum.  This service includes evaluation of the property prior to occupancy and vacancy of the tenant which includes a detailed inspection check-list and photographs performed and taken by a trained housing inspector.

Preparing your property for rent?

Your property should be presented in the best possible condition to attract the highest quality tenant.  The tenants are required to leave the property in the condition they received it, normal wear and tear excepted, so it makes sense to start with it in top condition.  We can help you with property preparation and will also be responsible for putting it back into that condition when the tenant leaves and charging the tenant accordingly.
All debris and personal belongings, including washer and dryer and lawnmower, should be removed.  Neutral window covering(s) should remain.
As tenants are required to maintain the yard in the condition provided to them at move in, the yard should be freshly mowed, weeded, trimmed and leaves and debris removed.

 

How will the property be marketed for rent?

Your home will immediately be added to our “Rental Availability” list.  This list is updated daily and is distributed to all prospective tenants and to local real estate agents.
Your home will have an information sheet designed that will list all pertinent information and will have a digital photo of the property.
Your home will be advertised for rentals in www.craigslist.com.

 

How much money is collected at move-in?

The total amount collected is generally the first month’s rent, plus a security deposit, generally 75% of the monthly rent.  You can determine the amount collected.  The security deposit is held by us in a non-interest bearing client trust account.

 

How do I receive my proceeds?

We can distribute funds by check or automatic deposit. Most of our clients prefer automatic deposit.

 

How am I protected if the tenant damages the property?

The refundable security deposit taken at move-in is usually sufficient to handle the minor damages and necessary cleaning.  Tenants with excellent credit and references seldom cause significant damage and rarely in excess of the security deposit.
Should the tenants leave the property owing more than is covered by the security deposit, they will be billed.  If they do not pay, the matter may be turned over to a collection agency.

 

What happens if the tenant does not pay rent on time?

The rent is due on the first of each month and is considered late if not received by close of business on the third.  A late fee of 9% of the amount owned is then added to the amount due and if not paid by the fifth of the month a “3-day pay or quit” is delivered.  If the tenants have not paid by the end of the notice period, appropriate action is taken as directed by the owner. Our company offers online payments to tenants that can be paid through a bank transfer or credit card. Tenants can also schedule future payments online.

 

What are the policies regarding pets and smokers?

Statistics indicate that 75% of renters of single family homes own pets, a smaller amount in duplexes or apartments.  Restricting pets may reduce the number of qualified applicants.  It is often preferable to consider allowing pets with an additional deposit in the range of $250.00 to $500.00, however the choice is yours.
It is common to restrict smoking inside the property.  This does not significantly reduce the marketability of the property.

 

How are repairs handled?

You can customize how repairs on your property will be handled.  Choices include: to call you with all repairs or to call you with repairs over a certain dollar amount.  In any case you will be notified of repairs.
We have competent repair vendors to handle any problem that may arrive.  You always pay the exact amount of the bill, nothing is added.
A reserve amount of $350.00 will be held in a non-interest bearing client trust account to be used for repairs and maintenance and will be replenished as needed.  Owner will be supplied with all service orders/invoices for repairs with monthly statements.

 

What happens if the tenant leaves before the end of the lease?

The tenant is responsible for the rent for the term of the lease.  If tenants are forced or choose to leave prior to the termination date, they will be charged rent until the property is re-rented to persons acceptable under the original terms and conditions or term of lease has expired.  They are also responsible for the expense of re-renting the property, the lease fee (if any) and the advertising costs.
The owner and agent are responsible to attempt to re-rent the property as soon as possible in order to minimize the tenant’s costs.