Owner Services
Our Rental Management Package includes all the services required to provide for a high level of occupancy and a rental property whose value is protected. Our professionally trained, licensed and experienced property managers handle all the day-to-day requirements giving you the support and peace of mind you deserve. Our services include: · All tenant communications and correspondence · Coordinate all maintenance related issues · Monthly and Year-end income and expense statements · Payment of expenses pertaining to property · 24-hour property support including online maintenance request and tenant hotline · Tenant "move-out" process including coordination of cleaning, painting and other maintenance required to prepare the unit for new placement. · Enforce terms and conditions of lease agreement
Rent and Security Deposits
The rent collection and security deposit services are included in our Nashville rental management package and covers the accounting of all finance related issues with your tenants, including: · Collection of monthly rent from tenants · Activities related to overdue rent including enforcement of late fees · Process all rent related communications such as: late notices, 10-day notices and initiation of eviction process, if required. · Receive rents and remit proceeds to clients via direct deposit or US Mail. · Managing security deposit in separate escrow account and processing disbursement upon move-out, including deductions, if applicable. · Monthly income and expense statements and year-end accounting. Our property owners have 24 hour, 7 day a week access to their accounts through a password protected portion of the website.
Tenant Placement Services
One of the reasons for our success is our ability to quickly fill vacancies with high quality tenants. We use our skills, resources and advertising strategies to secure tenants that are fully screened and approved. Our service includes:
· Evaluating market conditions to determine market rent levels · Make recommendations to increase marketability · Aggressive marketing of vacancies that includes advertising on a minimum of 16 websites, as well as newspaper, other print media and signage on the property, if appropriate. · Scheduling and showing property to prospective applicants · Thorough application and screening process which includes computerized credit and criminal background check, as well as employment and rental history verification. · Tenant move-in process which includes a walk-through inspection with tenant prior to move-in, transfer of keys and welcome letter. · Supply required documents such as credit application move-in/out checklist, lease, welcome letter, etc. · Executing lease agreement and other required documents · Coordinating tenant move in with a concierge or building manager, if applicable. · Collecting first month's rent and security deposit
The Initial Process for Property Owners: During our initial contact with property owners our management coordinator will fully explain what services are provided by our property management company, the fees associated with those services, and precisely explain the timeframe within which these services will be performed. In addition, our management coordinator will collect as much information as possible about the potential rental property. Our management coordinator carefully listens to the needs of each prospective property owner to be sure that we are providing that owner with the best solution for their property. There are cases when Summit Property Management is not the right management company for their needs. Our management coordinator will obtain rental comparables via the MLS, other rental websites, and based upon the property we already manage. It will be during this time that Summit will be able to advise property owners on likely rental rates, rental demand, and tenant vacancy (if any). Once an owner has decided to pursue a management relationship with Summit, our management coordinator will email, fax, or hand deliver our management agreement, fee schedule, and advertising packages in order to give owners the necessary time to review these documents and contact us with any questions. At this time Summit's lead property manager will visit the potential rental property to determine the property's condition, location, and other assets or detractions. This step is crucial in finalizing a realistic rental rate and accurately predicting rental demand and vacancy factors. We prefer for owners to be present during this visit, but it is not necessary. If an owner can be present we will likely ask questions pertaining to the subdivision or development, amenities, association, ownership history, etc. It is absolutely imperative for owners to tell us absolutely every positive and potentially negative feature about the property. Once the walk-through is complete and both parties decide to move forward, management agreements will be signed, a $150 account initialization fee will be collected (to be used to advertise the property for lease), keys/garage door openers and security codes will be collected, and a time will be scheduled to professionally photograph the rental property.
Additional Summit Services
Using a unique connection of alliances with industry professionals, we are able to offer all the maintenance services you need as a property owner. Whereas some property management companies make their money from the use of their maintenance services, Summit Property Management, Inc. uses its strength to negotiate high quality work from reputable independent contractors. All maintenance charges will appear on your monthly income and expense statement.
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