This is a question that we get asked a lot. I always chuckle inside but because we get asked so much, I will try to do my best to cover what we do as a property management company. I will do my best to scratch the surface. Here we go:
1. We are available 24 hours a day, 7 days a week for calls for emergencies. We pay someone just to be available for emergencies, even if they don't go out or have an emergency they have to be compensated.
2. We utilize a web based property management program. This costs several hundred dollars a month just for utilizing this program.
3. We pay someone to manage the accounts financials as well as service requests and all monies that flow in and out of the accounts. This person also spends a great bit of time organizing for repairs, getting prices, getting approvals from owners, explaining explaining explaining when the endless questions are asked from the owners, the tenants, our maintenance staff and management.
4. Someone tirelessly works the phones to forward to the appropriate staff member to take care of. We just expanded our phone system to 6 lines. We don't want to miss a call so we need to have that up and running efficiently.
5. Another Real Estate Licensed staff member is working diligently processing potential tenants making sure nothing gets missed from being uncovered to accomplish a full screening process. We are licensed directly from TransUnion to pull credit and background checks. This is in itself can be a separate business. This same licensed staff member is keeping up with the expiration dates on your contracts and leases and has a very strict process to follow to meet specific deadlines so that all parties are protected. They also work with our agency attorney to complete new leases, non compliance with lease issues etc.
6. We utilize and pay a staff member to keep a 3 month inspection calender organizing, making appointments and scheduling these very important aspect for inspecting the interior of the properties. This is another web based program that prints out field notes, an inspector is assigned to go to the property utilize the field notes filling in the blanks of this 8 to 13 page report along with pictures. Then inspector uploads the pictures and the field notes are filled in on the official report that is now sent to the owner as well as kept on file. Now if items need to be cared for the maintenance manager staff member needs to coordinate the work with owner, repair staff or sub-contractor to take care of issues. If the tenant is in non-compliance of the lease, a notice needs to be sent out personally. We don't send out notices without also a witness so two staff members go out to serve these notices.
7. When a new tenant moves in and at the time of move out, a very comprehensive move in and move out report are generated and completed with pictures to back up and is part of the report. This is to assure there is little to dispute if damages occur.
8. A staff member takes payments over the counter and over 3/4 of the tenants we serve, pay this way. If payments are not made by the 5th of the month, we issue three day notices that must be delivered by two staff members personally so there is nothing to give the tenant a way of extending a possible eviction saying they never got the notice. We have a witness to the fact it was in fact delivered. If they don't pay and owner wishes to complete with an eviction, we will work with our attorney to move in that direction, putting together all of the information together the information the attorney requests.
9. If a tenant abandons a property or voluntarily gives the keys and moves out, we must go out several times to assure the security of the property, check to see if they left, talk to neighbors to see if they can enlighten us with information and do the best we can to protect your property.
Additionally we have all the overhead expenses of an office, employees to carry out these things above, insurances, vehicles to accomplish the above. We have not covered tenant placement in this blog so we will address that in a future blog.
For more information on AAA Realty LLC and our property management services go to http://www.aaarealtyllc.com
1. We are available 24 hours a day, 7 days a week for calls for emergencies. We pay someone just to be available for emergencies, even if they don't go out or have an emergency they have to be compensated.
2. We utilize a web based property management program. This costs several hundred dollars a month just for utilizing this program.
3. We pay someone to manage the accounts financials as well as service requests and all monies that flow in and out of the accounts. This person also spends a great bit of time organizing for repairs, getting prices, getting approvals from owners, explaining explaining explaining when the endless questions are asked from the owners, the tenants, our maintenance staff and management.
4. Someone tirelessly works the phones to forward to the appropriate staff member to take care of. We just expanded our phone system to 6 lines. We don't want to miss a call so we need to have that up and running efficiently.
5. Another Real Estate Licensed staff member is working diligently processing potential tenants making sure nothing gets missed from being uncovered to accomplish a full screening process. We are licensed directly from TransUnion to pull credit and background checks. This is in itself can be a separate business. This same licensed staff member is keeping up with the expiration dates on your contracts and leases and has a very strict process to follow to meet specific deadlines so that all parties are protected. They also work with our agency attorney to complete new leases, non compliance with lease issues etc.
6. We utilize and pay a staff member to keep a 3 month inspection calender organizing, making appointments and scheduling these very important aspect for inspecting the interior of the properties. This is another web based program that prints out field notes, an inspector is assigned to go to the property utilize the field notes filling in the blanks of this 8 to 13 page report along with pictures. Then inspector uploads the pictures and the field notes are filled in on the official report that is now sent to the owner as well as kept on file. Now if items need to be cared for the maintenance manager staff member needs to coordinate the work with owner, repair staff or sub-contractor to take care of issues. If the tenant is in non-compliance of the lease, a notice needs to be sent out personally. We don't send out notices without also a witness so two staff members go out to serve these notices.
7. When a new tenant moves in and at the time of move out, a very comprehensive move in and move out report are generated and completed with pictures to back up and is part of the report. This is to assure there is little to dispute if damages occur.
8. A staff member takes payments over the counter and over 3/4 of the tenants we serve, pay this way. If payments are not made by the 5th of the month, we issue three day notices that must be delivered by two staff members personally so there is nothing to give the tenant a way of extending a possible eviction saying they never got the notice. We have a witness to the fact it was in fact delivered. If they don't pay and owner wishes to complete with an eviction, we will work with our attorney to move in that direction, putting together all of the information together the information the attorney requests.
9. If a tenant abandons a property or voluntarily gives the keys and moves out, we must go out several times to assure the security of the property, check to see if they left, talk to neighbors to see if they can enlighten us with information and do the best we can to protect your property.
Additionally we have all the overhead expenses of an office, employees to carry out these things above, insurances, vehicles to accomplish the above. We have not covered tenant placement in this blog so we will address that in a future blog.
For more information on AAA Realty LLC and our property management services go to http://www.aaarealtyllc.com
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