Property Management

At Actax, we maintain property rentals by advertising and filling vacancies; negotiating and enforcing leases; maintaining and securing premises.

image

Our Services Include:

1. Evaluate the property and determine an accurate rental rate

  • Perform detailed documentation of the interior and exterior including photos
  • Offer recommendations on repairs and cosmetic improvements that maximize monthly rent.
  • Gather data on rental rates in the area and work with owners to determine the optimal rental rate including looking at the recently rented comparable according to size and type.
  • Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.
  • Install a lock box

2. Market the property for rent

  • Prepare home for rent
  • - Clean home and optimize interior appeal
    - Manicure landscaping to increase curb appeal
  • Create ads tailored to the property and advertising medium. Some of the mediums commonly used are:
  • - Paid and free rental listing websites
    - Print publications
    - Signs
    - MLS
    - Fliers
  • Work with other realtors and leasing agents to find a tenant
  • Provide a 24-hour hot-line where prospective tenants can listen to detailed information about the property
  • Field calls from prospects for questions and viewings
  • Meet prospective tenants for showings throughout the week and weekend.
  • Provide prospective tenants with rental applications that are legally compliant with fair housing laws
  • Collection applications with application fee

3. Tenant Screening and Selection

  • Perform a background check to verify identity, income, credit history, rental history, etc.
  • Grade tenant according to pre-defined tenant criteria
  • Inform tenants who were turned down

4. Tenant Move In

  • Draw up leasing agreement
  • Confirm move in date with tenant
  • Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance
  • Ensure all agreements have been properly executed
  • Perform detailed move in inspection with tenant and have tenants sign a report verifying the condition of the property prior to move-in.
  • Collect first months rent and security deposit

5. Rent collection

  • Receiving rent
  • Hunting down late payments
  • Sending out pay or quit notices
  • Enforcing late fees

6. Evictions

  • Filing relevant paperwork to initiate and complete an unlawful detainer action
  • Representing owner in court
  • Coordinating with law enforcement to remove tenant and tenants possessions from unit

7. Inspections

  • Perform periodic inspections (Inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
  • Send owner periodic reports on the condition of the property

8. Financial

  • Provide accounting property management services
  • Make payments on behalf of owner (Mortgage, insurance, HOA dues, etc.)
  • Detailed documentation of expenses via invoices and receipts
  • Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
  • Provide annual reporting, structured for tax purposes as well as required tax documents including a 1099 form
  • Advise owner on relevant tax deductions related to their rental property
  • Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses

9. Maintenance, Repairs, and Remodeling

  • Provide and oversee an in-house maintenance crew
  • Establish a preventative maintenance policy to identify and deal with repair needs
  • Provide an network of licensed, bonded and fully insured contractors who have been vetted for good pricing and good work that is up to code.
  • Assign jobs to different parties (in-house employees, handyman and professional contractors) based on who will do the best job for the best price.
  • Maintain outdoor areas
  • - Leaf and snow removal
    - Landscaping
    - Removing trash and debris
  • Maintain and monitor a 24 hour emergency repair hot-line
  • Larger renovation or rehab projects
  • - Provide recommendations on how the project can maximize rental income.
    - Prepare preliminary cost estimates
    - Get multiple independent bids for the work
    - Act as general contractor overseeing the work

10. Tenant Move Out

  • Inspect unit and fill out a report on the property's condition when the client moves out
  • Provide tenant with a copy as well as estimated damages
  • Return the balance of the security deposit to the tenant
  • Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in owner reserves for repairs.
  • Clean unit and perform and needed repairs or upgrades
  • Re-key the locks
  • Put the property back on the market for rent