The property will be advertised in community newspapers such as The Dundalk Eagle, The East County Times, The Baltimore Sun, etc.. In the advertisement we will include a brief description of the property such as # of bedrooms, bathrooms, any amenities included, area of property, and our phone number for those interested. As a marketing aid, the agent may submit the property to the local "multiple listing service" that is used by other companies and agents. Vacant properties will also be advertised on our web site.
When a potential tenant sees our advertisements and calls our office we will instruct them as to the date and time we will be showing that particular property. The property manager makes every attempt to show each vacant property once a week. On the day of the showing the property manager will meet interested persons at the property, show them around, answer any questions, and give them an application.
Upon receiving an application, we will run a credit, criminal background, and eviction report, verify applicant's employment, and talk to applicant's current Landlord. When talking with the Tenant's current Landlord we will find out:
After verifying all of the applicant's information we will choose the best available applicant.
After selecting a qualified applicant the Property Manager will draw up the Lease, secure all signatures; collect security deposit, and first month's rent. Our Lease is for 12 months and rent is due on the 1st day of each month. If a Tenant moves into the premises on a day other that the 1st, the rent will be pro-rated for that month.
The Property Manager will collect from the Tenant, prior to occupancy, not less than one month's rent, to be used as a Security Deposit. The Property Manager, in conformity with Maryland law, will hold the Security Deposit in escrow for the duration of the lease and any extensions thereof.
If the Owner accepts pets the Property Manager will collect an additional half-month's security deposit. The Tenant will assume total liability for the pet(s) and a clause will be added to the Lease that the Tenant(s) agree that the carpets will be cleaned and the property will be de-ticked and de-fleaed when the property is vacated.
Before a Tenant moves personal property into a residence the Property Manager will do a walk-thru with a walk-thru sheet to determine the condition of residence upon move-in. Upon vacating the unit, another copy of the walk-thru sheet will be used to determine the condition of the unit. Any discrepancies will be noted and any condition deemed above and beyond normal wear and tear will result in a deduction from the Security Deposit.
All rents are due on the first of the month. Rent paid after the fifth (5th) will be assessed a late fee (as provided for in the lease). Rent not received in our office by the seventh business day is automatically sent to rent court. Upon filing rent court action, the tenant will also be assessed court costs. The Judge will give the Tenant four days after our court date to pay the rent. If the Tenant does not pay the rent by the deadline, we can file the warrant of restitution to get an eviction date. Once we speak with the Sheriff, he/she will assign the date and time for the eviction. On eviction day, we hire an eviction crew - usually three people, who will actually move all of the tenant's personal property out of the house. When a tenant moves or is evicted and they owe rent, late fees, water bills, damage, etc, we first apply their security deposit and accrued interest to the amount they owe. If a balance remains, we submit the claim to a local collection agency.
Each month you will receive a statement on your account, along with your rent proceeds. Your statement will show the amount of rent collected and any minor expenses paid on your behalf during the month. We send these out as soon as possible.
The property Manager will schedule periodic Inspections of property and will advise Owner of preventive maintenance action necessary to achieve and maintain maximum rental value, cash flow, and property value.
Between a change in tenants, the Property Manager will have all locks changed and send a new key(s) to Owner.
We can arrange to have all water bills sent to us. We will promptly pay your water bill and forward it to the Tenant for reimbursement.
During the term of a lease, it is inevitable that maintenance or repairs will need to be done. The repair people used by the Management Company are licensed contractors and are capable of doing most work. Every January, April, July, and October we will send a card to the Tenant as a reminder to change the furnace filters, and check batteries in smoke detectors.
If your property was built before 1978 we will coordinate and schedule a lead test. After the property passes the lead inspection we will register it with the Maryland Department of the Environment (MDE). When a tenant moves in we will give them the Maryland Notice of Tenant Rights, the EPA brochure, "Protect You Family from Lead in Your Home", and a copy of the lead inspection certificate for the property.
Snow removal, will be coordinated by the Management Company on multi-unit properties, with independent contractors. Single-family dwellings are addressed in the Lease.
Carpets will be cleaned between tenant(s). If the carpet is extremely soiled it will be cleaned at the Tenant's expense.
If the Owner will continue to bank at a local bank/branch, we offer "Direct Deposit". Instead of sending the monthly proceeds check and statement directly to the Owner, we will deposit the check into the Owner's account and mail only the monthly statement.
If desired the Owner can have the Management Company pay the Mortgage and/or Condo fees on the property. We can pay these expenses out of your monthly rental proceeds.
The Management Company will forward you your 1099 by January 31 along with a copy of your year-end statement. Your year-end statement will reflect all income and expenses related to the property.
|LaShawn Saundersemail@example.com||410-661-0909 x105|
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