Responsibilities of a Property Management Company

Property Management

As a property owner, the success of your rental property is entirely dependent on how you manage and relate with your tenants. Over the years, maintaining an efficient strategy to manage properties has become dependent on professional services. This is because the housing trends in residential property have evolved bringing with them tenants who demand specialized services. To meet the expectations of the new tenants, property owners need to develop better relationships with the tenants and to hire property managers. Currently, consultation and management of rental property have improved due to the rise of property management companies that help landlords to manage their residential property by helping them price their properties according to the current market. The management firms also find tenants, collect rent, and maintain and coordinate rental units on the owner’s’ behalf. Let’s just talk about some of the responsibilities of a property management company.

Responsibilities of a Property Management Company

Keyrenter Silicon Valley Property Management

In Campbell, Keyrenter Silicon Valley can provide you with rental property management services. We can successfully manage your duplexes, condos, single-family homes as well as small multi-family apartments. At Keyrenter, our mandate is to offer you with a complete range of residential property management services personalized to meet your needs as a landlord, investor, property owner, or property developers.

As a leading company in property management, we are well updated on how housing trends are shaping the residential property management sector. Our success is entirely based on getting good tenants and maintaining their interests in your property. Our professional staff is quick to respond to your concerns and the concerns of your tenants. By keeping tenants contented with a well-preserved residential property, we are able to forge a successful relationship for all the parties involved.

Our Responsibilities as Your Property Manager

Analyze your property and set a rental rate

When you seek our services in managing your property, we swiftly initiate steps that will help you take control and manage the property effectively. First, we assess the property condition and offer recommendations for reconstruction, repairs, or a complete facelift where necessary to maximize the monthly income generated from the units. We then engage the owner with advantages and disadvantages of various tenant policies. Together, we determine the most appropriate rental rate as per the housing trends.

Advertising and marketing of the property

Once we set the rental rate of your property, we embark on cleaning it and ensuring that it is ready to receive tenants. We market and advertise your property by creating adverts tailored to the specific property on print publications, flyers, rental listing websites, as well as in the local realtors. In order to catch up with the current housing trends, we also place the adverts on social platforms by collaborating with eBay and Google among other websites to ensure access to first-class tenants. Upon contacting the prospective tenants, we provide them with rental application forms that are compliant with fair housing rules in Campbell.

Tenant application process

Before the signing of the tenant application forms, we carry out an extensive background check to ascertain the identity, contact, rental history, income, as well as the credit history of the prospective tenant. Once the background check is complete, we then notify you of the applicants so that you can also get involved in the decision-making process.

Moving-in process

The moving-in process involves setting up a leasing settlement and agreeing on a move-in date. We will continue advertising the property until we receive a deposit from the prospective tenant in our office. When the deposit has been received, we review the lease guidelines with the tenant, payment terms, and the required property maintenance standards. We also carry out an inspection with the tenant on the property to ascertain its condition before he or she moves in.

Rent collection

It is our responsibility to collect and receive rent from the tenants. Besides rent collection, we also make follow-ups for late payments, send, and enforce quit notices as well as late fees.

Safety inspection and maintenance coordination

To keep up with the pace of housing trends, we carry out safety inspections on an annual basis to establish repair requirements, code violations, and the soundness of a unit’s safety, among other issues that may affect the tenants’ comfort. We then compile a comprehensive report on the condition of the property and send it to the owner.

Accounting services

Property management in Campbell also offers accounting services to landlords. Keyrenter is one of the property management companies that offer easy to read monthly cash-flow statements that also provide a comprehensive analysis of itemized expenses and income.

Under our accounting services, we:

  • Keep and maintain records of inspection reports, invoices, and leases
  • Make insurance, mortgage, and HOA dues on behalf of the owner
  • Advise landlords on the relevant tax deductions associated with the rental property

Maintenance of the property

Constant maintenance and upkeep for your property are key in maintaining the maximum rental income flow. As such, we keep in touch with a network of professional, licensed, and fully insured contractors who are known for their quality maintenance work and reasonable pricing. To this effect, we have a maintenance and repair hotline that is operational 24-hours a day.

Moving out

Prior to moving out, we carry out an inspection of the property in the presence of the moving-out tenant. We document a report on the condition of the property after the inspection and provide the tenant a copy with estimated damage costs. We also refund the tenant the balance of their security deposits. Cleaning and carrying out repairs and necessary upgrades are done once the tenant has moved out. Lastly, the property is brought back on the market for advertisement.

At Keyrenter Silicon Valley, the most important thing to us is to provide our clients with the best return on their investments as well as reducing time investment. The key to achieving this is by keeping a healthy relationship with tenants and communicating clearly and responsively.

Our administrative and advertising experts are aware of what to do to get the best results that suit our clients. What’s more, you will still be in control of your property even when working with us.

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