Do you have a client whose home just isn't selling? Have you suggested renting? Have you ever thought about incorporating Property Management into your Real Estate business?
1. You can get paid for establishing a property management contract with your client. Equity Real Estate will pay you a $100.00 referral fee when the property is leased. So, not only can you turn a situation where you might not have sold the property into a profit, but you'll also take care of your client. Your owner receives the many services that the Equity PM team provides, the rent received can pay the mortgage (and maybe even more) while the client waits for the right opportunity to sell.
2. Equity allows all Equity Real Estate agents to do both Property Management and Sales without designating. With this program, you will be the Property Manager for your properties. Your duties will include: Listing and showing the property, running applications, signing and renewing lease agreements, coordinating maintenance and repairs, and performing property inspections. Equity Real Estate will handle all of the accounting.
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Equity Real Estate Property Management Addendum: Policies and Procedures
What Equity Property Managment Offers for Your Clients
Comprehensive Marketing & Advertising Program
For each day a property is vacant, that is money out of your client's pocket. Professional management costs are easily offset by shorter vacancy times. We advertise through our own and local websites, newspapers and often if the property is in the vicinity, at local schools. We also collaborate with other property management companies and web based companies to and make sure that the property is rented as soon as possible.
Rigorous Credit, Income, and Criminal Screening
Placing the wrong tenant can quickly cost what is often saved in professional management fees. We run criminal and tenant background checks on everyone in the home over age 18. We also make every effort to find tenants who will pay rent on time and will take care of your property by pulling credit and verifying income and employment with documentation that includes paystubs, tax statements, bank accounts, etc.
We do at least 2 interior inspections per year. Additionally, we do monthly drive-by exterior inspections, which allows us to be sure that the landscaping is being taken care of, but often alerts us that we need to do an extra interior inspection as well.
Take advantage of our preferred vendor relationships for discounted equipment and services and pay less with our 24/7 maintenance staff. Maintenance is a necessary expense in property management, and the return on an investment can be significantly impacted without timely, cost-effective repairs and upkeep. In the end, preventative and proper maintenance can save time and money and ensure the repairs are done in professional manner. There is no upcharge for the maintenance, meaning Equity Property Management is not making a fee for hiring out. Clients are charged the straight maintenance fee and nothing more. On services that require a plumber, electrician, HVAC, landscaper or other professional service there is also no upcharge and your client pays the invoice amount only. The client has the option to be notify for any and all repairs or for just approval on repairs over a certain amount.
Nothing affects your cash flow more than late or missing rent payments. In addition to offering incentives for paying rent on time, our collection processes are professional but tough, and we are extremely diligent in collecting your rent through a systematic, timely process. You can access your financials in real time 24/7 on our website.
Complete Eviction and Possession Services
In this economy, even with careful placement you may find yourself evicting a tenant. Our staff is extremely knowledgeable in state and local landlord and tenant laws. If rents are not paid on time, we initiate the legal steps necessary in the fastest possible timeframe to minimize your costs and get the property leased again. In addition, we want to take accountability to place the best tenant. Therefore, if we place a tenant that we are evicting and you use our in-house attorney to do the eviction, we will pay up to $200.00 to help alleviate the expense. We are proud to report that in 2015 our eviction rate was 1.4%. We are working in 2016 to make this even LOWER!
Income to clients are directly deposited within 72 hours (minus weekends and holidays) of receiving all rent and invoices. We can also pay all bills (such as utilities and HOA fees) for the client if they choose.
Our mission is to always be mindful of why owners hire a property management company and then to exceed their expectations. We take care of all property management concerns by taking care of all the tedious details of keeping and improving their assets through 24/7 management.
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to learn how to start managing properties with Equity Real Estate.