Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate.
Some owners may have many rental properties in their portfolios but lack the time or expertise to maintain the properties and deal with tenants. To help our client in that case, BETTER LEGAL SERVICES LAW FIRM provide professional property management service.
Our property management unit provide the following services:
Evaluate and market the property for rent
- Evaluate the property and determine an accurate rental rate
- Prepare home for rent (Clean home and optimize interior appeal, Manicure landscaping to increase curb appeal)
- Provide prospective tenants with rental applications that are legally compliant with fair housing laws
- Perform a background check to verify identity, income, credit history, rental history, etc.
- Collect first months rent and security deposit
- Receiving rent
- Hunting down late payments
- Sending out pay or quit notices
- Enforcing late fees
Tenant Move In and move out
- Draw up leasing agreement
- Confirm move in date with tenant
- Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance
- Ensure all agreements have been properly executed
- Perform detailed move in inspection with tenant and have tenants sign a report verifying the condition of the property prior to move-in.
- Inspect unit and fill out a report on the property’s condition when the client moves out
- Provide tenant with a copy as well as estimated damages
- Return the balance of the security deposit to the tenant
- Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in owner reserves for repairs.
- Clean unit and perform and needed repairs or upgrades
- Re-key the locks
- Put the property back on the market for rent
Property legal advice
- Filing relevant paperwork to initiate and complete an unlawful detainer action
- Representing owner in public and privet institutions and including in court
- Coordinating with law enforcement to remove tenant and tenants possessions from unit
- Advise in the event of a legal dispute or litigation
- Understand and abide by the latest local, state and federal legislation that apply to renting and maintaining rental properties.
Inspections and finance reporting
- Perform periodic inspections (Inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc
- Send owner periodic reports on the condition of the property
- Provide accounting property management services
- Make payments on behalf of owner (Mortgage, insurance, etc.)
- Detailed documentation of expenses via invoices and receipts
- Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
- Provide annual reporting, structured for tax purposes as well as required tax documents
- Advise owner on relevant tax deductions related to their rental property
- Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses
Property Maintenance, Repairs, and Remodeling
- Provide and oversee an in-house maintenance
- Establish a preventative maintenance policy to identify and deal with repair needs
- Assign jobs to in-house employees
- Maintain outdoor areas
- Larger renovation or rehab projects
- Provide recommendations on how the project can maximize rental income.
- Prepare preliminary cost estimates
- Get multiple independent bids for the work
- Act as general contractor overseeing the work
Fill out the Contact Us form to book your consultation, or call us at (250)788748051 to get started.