Property Manager – San Fernando Valley

Highlights of a Property Manager’s Job

BY ANNE

A professional property manager will handle all the details regarding your rental property, but what exactly does that mean? Here what you can expect from your property manager.

Evaluate the property and determine an accurate rental rate

Perform detailed documentation of the home

Make a list of any recommendation for repairs or enhancements

Take multiple pictures of the property

Research the area for rental rates

Review sites on the Internet

Call the other rental homes in the neighborhood and surrounding area

Make recommendation of a rental range to the owner

Discusses the pros and cons for accepting pets

Collects keys from owner

Install a lockbox for easy viewing

Market the property for rent

Provide a professional marketing campaign for the rental home

Advertise on several websites to gain maximize exposure

A manager should use a combination of paid and free sites to attract tenants

Have a way for prospective tenants to view your property 7 days per week

Take calls from prospective tenants for viewing and questions

Provide applications for prospective tenants

Collect application and application fee for processing

Tenant Selection

Once the prospective tenant has completed the application, the manager should review the application for the following:

Tenant’s Ability to Pay – Income to rent ratio

Credit worthiness by reviewing the applicant’s credit report

Past Landlord analysis

Employment verification

Confirmation tenant is not on the Specially Designated Nationals list

Confirm past rental judgments if any

After all the information has been collected, the property management company should approve, deny, or approve with additional deposit.

If applicant is denied, then follow proper notification per guidelines for declining tenant

Tenant Move In

Once the tenant has been approved, the property manager confirms a move in date

Reviews the lease and other company guidelines with the tenant

Perform a detailed move-in inspection with the tenant

Operations

Your property manager should have a means to communicate the monthly billing amount due to the tenant

Collect the rents from the tenants

Provide monthly owner statements that detail income and expenses

Provide payment to the owner with an option for direct deposit

Monitor insurance requirements to protect the homeowner, the management company, and the tenant

Have a maintenance policy to minimize repair expenses on the property

Monitor a 24 hour emergency repair hotline

Have negotiated contracts with vendors to utilize the purchase power of all the owners to save money

Take care of repair requests in a swift and cost effective manner to minimize rent loss to the owner

Offer a lease renewal to the tenant at the end of the initial lease term

Provide written notice of termination of lease at the end of the lease term if owner doesn’t want to renew

Tenant Move Out

Once the tenant has either given or received notice of non-renewal, the manager inspects the property within 3 business days of move out.

Manager makes a detailed report of the status of the property and provides a copy to the tenant along with a list of estimated damages

Prepare the property to put back into rental service or turn over the owner

Return the balance of the security deposit to the tenant within the guidelines of landlord/tenant law.

Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in owner reserves for repairs.

Put the property back on the market for rent

Tenant Relations

When there are issues with the tenant, the manager works on your behalf to resolve them

Evictions

The manager performs the specific tasks associated with evictions if necessary.

Advice

The property manager serves the interest of the property owner. As such a property manager will provide information and recommendations for the best interest of the owner at all time.

From:http://sspmblog.solidsourcepm.com/

Carnahan Property Management Services Woodland Hills,West Hills,Bell Canyon, Hidden Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando Valley, Granada Hills, Mission Hills, Simi Valley, WestLake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 to check if we can service your area. 60+ years of service.