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Our goal is to provide comprehensive property management services, allowing clients to spend their time running their core businesses or having more leisure time.
With over 25 years combined experience managing and leasing office, housing, retail and corporate properties, Ojai Valley Real Estate has developed a superb staff of property management professionals, as well as the information systems and processes required to build real estate value.
PROPERTY MANAGEMENT INFORMATION
ADVERTISING
We try to fill every vacancy prior to
it becoming vacant. Our advertising starts at least 3 weeks before
the tenants move out.
The sources of advertising may include
the internet, local news papers, rental agencies, public bulletin
boards and for rent signs placed on property.
RENTAL PROCEDURES AND TENANT SELECTION
We personally show all properties and
have a very strict key control program. We also screen all tenants
on the basis of credit history, evictions, rental records,
employment and landlord references.
All tenant are given our tenant
information and instruction forms before signing a lease. A
statement of condition and a video is taken of the property before
the tenants move in.
A security deposit is taken and placed
into a separate escrow account. Any cleaning or repair charges are
deducted from the deposit as necessary.
Selecting the wrong tenant can cause
future problems for the owners and us. Therefore, the initial
screening process is done very carefully.
RENTAL COLLECTION
All rents and security are deposited
into special trust account as prescribed by the California laws
regarding trust fund handling.
Rents are prorated to the first of
each month and become delinquent by the fifth day. If the rent is
not paid by the fifth, a late fee is imposed. If the rent and late
fee is still not received by the tenth, a three-day notice is served
to pay or quit.
EVICTION PROCEDURES
We try to work with the tenants to
solve any problems that might occur. But if it seems obvious that a
solution cannot be reached, we then must take action to protect the
owner's interests.
If we do not get a response to the
three-day notice, then the next step is to turn it over to a
professional eviction company for the final eviction.
INSPECTIONS
Before renting a property and after
the initial cleanup and preparation for the new tenant, we take
pictures of the property to document the condition. We use a video
camera to film the landscape, exterior of the house, the bedrooms,
baths, etc. If there should ever by any argument as to the cleaning
or repair charges after vacation, we can refer to the video for
clarification.
We also ask the tenant to sign our
inspection report before moving in. If the tenant notices anything
wrong that is not reported in the inspection sheet, it is the
tenant's responsibility to point it out and have it included in the
report.
Drive by inspections are usually done
on a monthly basis. If we notice anything wrong, such as lawns
needing water, cars being worked on in the drive ways, etc, we will
send a notice to the tenant to resolve the problem A.S.A.P., as per
our agreement.
MAINTENANCE AND REPAIRS
Before a tenant moves into a unit, we
make sure it is clean and all necessary repairs are completed. When
the tenant moves out, we re-inspect the unit and again make sure it
is ready for renting. If the unit needs cleaning or repair work
beyond the normal wear and tear, then the costs are charged to the
tenant and deducted from their cleaning deposit.
If the tenant calls for a request for
repairs, we first determine if the repairs are necessary and if it
should be charged to the tenant or to the owner. All approved repair
work is normally finished within one week unless it is an emergency.
We have a 24 hr paging system for the tenants to call. The owners
should determine in advance what types of repairs and what the
minimum costs for each repair should be allowed without prior
authorization. We have an in house maintenance service. The fee for
our services is approximately $20.00 per hours. But normally we
provide an advance estimate for most jobs. There is a 20% charge for
all parts and materials used. The charge included the time for
shopping and purchasing materials and replacing anything that is
defective and still under warrantee. The discounts we are allowed
for quantity purchasing usually will offset the extra 20%
charge.
We also use other contractors when the
repairs are beyond our ability or if we are unable to get to the
repair promptly.
ACCOUNTING AND REPORTS
We maintain two bank accounts for our
clients. A tenant trust account and a separate trust account for all
security deposits. All funds received are deposited and paid out
through the tenant trust account. Security deposits are deposited in
to the trust account, and then transferred to the deposit
account.
We use a very efficient computer
program called the Residential Property Management system (R.P.M.).
This computer program is considered one of the best property
management systems currently on the market and has been used by
hundreds of property management companies for over twenty years.
All property owners are sent monthly
and year-end reports. We can send owner payments directly to the
owner, to their bank accounts or to a mortgage company as requested.
At the end of each year a 1099 form is filed on behalf of each
owner.
FEES AND SERVICE FOR 1-8 UNITS
SET UP Fee: $50.00 for lease-up and
full management service. Includes a video of the property, two
photographs and computer set up. Videos are used to document the
condition of the property and to show perspective clients.
LEASE-UP ONLY: 50% of the monthly
rental amount. ($350.00 Minimum)
- Advertising in local newspapers and other local sources (Ad
costs are paid by the owners.)
- Complete screening of prospective applicants and a credit
search to verify rent history, credit, bankruptcy and evictions.
- Contacting recent landlords regarding past payment and general
information.
- Execution of a lease Agreement between Owner and Residents.
- Conduct move in inspection
FULL MANAGEMENT SERVICE: 8% of the
monthly rental amount.
- All items under lease-up and set up.
- Coordinate and schedule monthly services, repairs
and maintenance.
- On site inspections once a month.
- Income and expense statements, monthly and year
end report
- Monthly rent collection and disbursements to
owners as agreed.
- Eviction procedures as necessary. (Cost billed
extra.)
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