Our services are divided into two phases.
First there is the LEASING phase. We:
- Advertise the property
- Interview prospective tenants
- Have prospective tenants view the property after they have been verbally qualified
- Have the prospective tenants fill out our Tenant Application, where we obtain three years landlord and work references, obtain a credit report and call at least four personal and family references
- Create a lease, custom-tailored to the property (including any specifics the owner may want included.) If the owner wishes to collect rents and handle their own property from this point on, the lease would be created payable directly to the owner, with the owner’s name, address, etc in it, instead of ours and becomes a “Leasing Only” client.
- Collect the rent and security deposit in secured funds.
- FUNDS NEEDED FROM CLIENT TO BEGIN SERVICES: $150.00 setup charge (negotiated rates for multiple properties), which includes initial property inspection and photo documentation; advertising deposit of $100.00 (depending on cash flow, vacancy, etc.) and $35.00 as annual Broker’s Liability Insurance (to add property to our umbrella liability insurance) since, by authorizing us to act in your behalf in regards to your property, we are exposed to extra liability. Owner is to add us to their fire and liability insurance (as additional insured) where applicable AND to provide us with copy of current coverage within fifteen days.
$100.00 goes in our Trust Account and is the owner’s money on deposit and will be accounted for (or returned, if not needed.)
- COST OF SERVICE: The greater of one half month’s scheduled rent (minimum of $395.00) or 6% of the lease amount.
FULL SERVICE PROPERTY MANAGEMENT
If there is a need for a new tenant, we perform the services of LEASING (detail listed above)
We receive, process and direct all of the maintenance calls from the tenants, contacting the property owner, the service people of the owner’s choice, an appropriate service company, or use a SUTHERLAND PROPERTY MANAGEMENT handyman or cleaning person as needed. We will respond to maintenance requests however the owner directs, as we are here to provide a service to the owner, while also making sure that basic regulations and requirements are met.
At the owner’s direction, we pay all or just some of the normal monthly/annual bills for the property.
We provide the property owner with monthly and year-end statements with receipts and invoices itemized.
We send any account overage to the owner or owner’s bank (keeping the security deposit plus a maintenance reserve in the property account.)
COST OF SERVICES: Leasing Fee, if leasing is performed, is the greater of one-half month’s rent (minimum of $395.00) or 6% of the lease amount, plus six percent of monthly scheduled rents for ongoing management (minimum of $35.00- we do charge a minimum management fee while the property is vacant.)