While the reasons our clients choose professional management vary, here are some of the key reasons many people elect professional management over self-management:
We deposit the rent in our account as we collect it and it takes a day or two to clear. Once the funds are cleared, we electronically deposit the funds into your bank account. Generally, we disburse daily at the first part of the month so you should receive your funds about 4 days after the tenant pays us.
If your property has an HOA or condo association, you will need to provide us with copies of the Rules and Regulations and the name and telephone number of the Management Company. We will need your Insurance Company’s contact info along with policy information. If your property is currently rented we will need a copy of all current rental agreements. You will also need to provide us with your bank account and your Routing numbers for direct deposit of funds. You will need to complete a landlord information sheet.
Above all, careful tenant selection from the outset protects your property from being rented to irresponsible people. During the lease term, we may have occasion to enter the property for repair or maintenance reasons and will use that opportunity to have a look. If we are fortunate enough not to have any repairs or maintenance at your property over an extended period of time, your property manager will schedule a preventative maintenance walk-through so that there are no unreported problems at the property.
The rent is due on the first of each month and considered late after the 10th. On the 10th of each month, we send late notices to all tenants with unpaid rent. Within a few days we are calling all past due tenants. We will file for a writ of possession in the Landlord Tenant court about the 20th of the month if payment is not received by then. Whether or not the property manager eventually proceeds with a formal eviction depends on the specific circumstances. It is always financially better for all involved if a solution can be worked out. If the tenant has experienced a one-time event which is causing them a financial hardship, and we have had no previous problems with them, it is better for you and the tenant if we give them a chance to catch up – if there is reason to believe they can do so. If the tenant has demonstrated an ongoing pattern of late payments, broken promises about payments and/or evasiveness, we know from experience that eviction is the best course of action.
Each case is unique and the property manager will make a decision based what is best for you and your home in the long run. That said, we always proceed with the legal notices required for eviction regardless of any other factors.
Tenants may call us with their requests, but most fill out an online form on our website. After we receive a repair request, the property manager may contact the tenant and ask them questions which will help us determine the exact nature of the problem before sending a service technician. We also make sure it is not something the tenant can fix themselves (ex: reset button on the disposal, tripped breaker) before your money is spent on a service call. After determining that it is a legitimate problem, we normally will contact the owner, especially if the repair will be more than $350, to get approval. We will then send the appropriate service vendor to make the repair.
We tell our tenants that we are able to handle most repair requests within 1 to 3 working days, and in fact are usually able to do so. Comfort items such as Air conditioning, no hot water or heat, receive highest priority and are usually attended to the same or next business day.
We will hold back $300 per unit in your account so that we always have funds to pay our vendors quickly.
This is a legitimate fear. We promise in writing not to do that. For ordinary maintenance and repairs of less than $350, the property manager can take care of it without notifying you. If we think a repair might exceed $350, we will call you and let you know what is happening, what we think should be done, and what the estimated cost might be.
Sometimes expenses such as a replacing a bad water heater, a roof leak that needs patching or repair, or emergency A/C and furnace repairs are unavoidable. In those cases where 1) the health or safety of a tenant is an issue, or 2) in instances where there is only one option to consider or 3) the property will incur damage if immediate action is not taken, the property manager will initiate the repair work, even if it is higher than the $350 limit, and then let you know of the situation and what we are doing about it. Mainly, we don’t think important repairs should be delayed while we try to contact you for permission to do the obvious.
We already have a stable of very qualified and reasonably priced vendors that we have used for many years. If you would like to nominate a service company to be added to our vendor list, they can contact us and we will interview them and let them know what documentation and references we need, what our invoicing and payment policy is, etc. We cannot guarantee however that your favorite company will be sent on all service calls to your home. Our concern is always to resolve repair problems in the most efficient way possible with the best available vendor at the time. Property managers can’t keep track of a pre-established roster of vendors assigned to certain properties – it would be a cumbersome and inefficient property management system and would not achieve the best service to the tenant and your investment property.
Our professional reputation as property managers, both with tenants and owners, is largely, if not almost entirely, determined by the effectiveness with which we handle maintenance. We follow a practice that is most likely to insure the best possible response and resolution to maintenance and repair problems for your property.
No. We can sell your property if you would like us to, but we don’t bind you to that in the management agreement. We think, at the time you decide to eventually sell, you should be free to decide who the best listing agent will be for your property given its location and characteristics..
Please contact Aaren at rgpmacct@gmail.com or 301-921-4574
We do! We are on call 24 hours a day. Why worry you? That’s why you hired us! Most emergencies are prioritized and often can wait to the next day.
You will need to have Landlord policy naming Realty Group Property Management as an additional insured.