Our pricing is competitive with other property management companies in the area, however with us, you benefit from the added value of 30 years of experience from the nation’s leading property management company. Although we offer a variety of pricing plans, not every pricing plan may suit your requirements. Thus, we can work together to achieve one that best suits your needs.
Full-Service Property Management Fees
Tired of the challenges and logistics that come with managing your rental property? We can alleviate those aspects of property management for you and allow you to enjoy life more while ensuring a sound return on your investment, mitigate risks, and provide a safe and well-maintained residence for tenants. You’ll also have the guarantee of responsiveness and effective communications on a consistence basis. Please review below and decide which one of our Management Plans will meet your needs.
To minimize your risks and give you peace of mind, we also offer the following guarantees.
Local Comparative Rental Marketing Analysis and Intelligence
Whether or not your property has previously been on the rental market, we’ll begin with a detailed walk-thru and property evaluation to determine not only the current “rent ready” status, we’ll also query like properties in the local vicinity to arrive at a feasible rent amount. We’ll also gain an understanding of your requirements provide the best recommendations.
Key factors that Owner’s should consider include: cosmetic and/or functional to include safety components of the property that may need enhancements to ensure the property is “rent ready,” location, amenities, flexibility such as acceptance of pets, and obviously appropriate pricing.
Again, we’ll guide you through this critical phase and provide you with an equitable and transparent recommendation.
Advertising and Marketing
In order to effectively Advertise and Market your property, we will leverage the strength of our tools at the local and national support levels. Real Property Management Stellar’s marketing materials will consistently convey a sense of integrity, reliability, and leadership. We genuinely understand the issues related to property management, and we are the nationwide leader. Our communications will always utilize valid, fact-based statements delivered in our communications with authority and a helpful, guiding tone.
Fair Housing Laws
First and foremost, Real Property Management Stellar strictly adheres to all requirements of the Fair Housing Law, which states, “It is illegal to discriminate against any person based on the protected classes listed.”
Online marketing is our primary vehicle to market our properties which includes website customization, Pay per Click (PPC) and Pay per Lead (PPL) advertising, search engine optimization (SEO) primarily with Google, Bing, and Yelp, directory listings, and directory advertising.
Based on the Owner’s guidance, we may provide photographs and videos that will be utilized to “virtually” show the property and gain a perspective resident’s interest prior to a “live” showing obviously after the property has been deemed “rent ready.”
Other avenues of advertising and marketing will include print, signage, as well as robust networking and referral systems, in which Real Property Management Stellar maintains a consistent presence.
Resident Screening and Selection
Resident screening and selection is one of the most critical elements essential to a successful and enjoyable property management experience. Time invested on the front-end of this process will mitigate time and inconvenience on the back-end. Before you have any prospective tenants, Owner’s should establish their criteria of minimal expectation and standards for their desired residents. These may include your credit requirements, the type of rental history you expect, whether you’ll accept pets, tobacco use, and other details you deem important. Ensure your Real Property Manager understands your expectations before advertising and marketing of the property. Be cognizant of fair housing laws to ensure they are not violated. Your Real Property Management Stellar office will assist you.
Prescreen all Tenants
When a potential resident inquires about your property, we talk to them before you show the property. Telephonic prescreens may be very effective to determine if there are indications that may lead to disqualification.
Showing the Property
Once we have identified a potential resident who has pre-qualified to rent, we’ll show your property. If the meeting is productive and again they appear to be solid candidates, we will move to the next phase and send a detailed rental application to interested tenants. Everyone 18 and over who will be residing in your property must complete an application.
Conduct the Screening
With our proprietary software, we will conduct a credit report review, employment history to include income verification, criminal background checks via a national database as well as their previous rental history with landlord references. Verifying that rent was paid on time at a previous residence is the best way to ensure you get paid on time once they move into your property.
Lease Preparation and Closing
Upon approval, potential “new” residents will be scheduled for an appointment with Real Property Management Stellar to finalize the lease and closing within 48 hours. When residents come in for the lease-signing appointment, we will review the terms of the Lease Agreement and answer any questions.
Residents should bring certified funds in the form of at least two cashiers’ checks or money orders (one for security deposit and one for other rent and fees) in the amount needed to close. Closing fees may include:
- First month’s rent
- Security deposit (Not considered last month’s rent)
- Pet fees (If applicable)
- Closing fees
- Administrative fees
- Other fees not yet paid or now due
A Move-In Evaluation may be provided to identify any required maintenance. If the property was recently occupied, allow for ample time between residents to complete the applicable move-out and move-in evaluations.
Lease closing is not the same as granting possession to the residents; the date of possession may be well after the lease is closed.
New Resident Packet and Expectations
New residents shall receive at a minimum the following documents post-closing information for residents:
- Welcome Resident Customer Service Letter
- Real Property Management office contacts
- Resident Manual
- Landlord Resident State of Georgia Laws
Collections and Evictions
Real Property Management Responsibilities
We are in the property management business, not the debt collections business. However, collection of balances due from residents is one of the primary services that we provide. From time to time, residents may find themselves unable or unwilling to pay rent.
Having a plan and implementing a collection strategy, that clearly sets expectations for collection upfront will help motivate residents to pay rent and other amounts due (fees and/or fines) and this is our first step toward avoiding costly evictions. And we have the expertise in local laws to ensure compliance and mitigate any potential risks. In the unlikely and unfortunate event of an eviction, we will provide a detailed outline of the Eviction Process to Owners early in the relationship.
Rent Collections Schedules
As property managers, we are leasing time in consideration of rent to our residents. Therefore, any delay in collecting rent contributes to the possible and probable loss of future rents. It is important to establish consistent deadlines, clear processes, and a strong system to help the collections process run smoothly, to ensure you are giving proper notice to residents, and to ensure the Owner is protected as well. Below are general guidelines:
- Communicate during lease signing and in the resident handbook (as well as in all communication regarding payment of rent), that all rents are due on the 1st of each month and are late on the 2nd of each month. Even if there is a “grace period,” we will convey that rent is actually late on the 2nd of each month.
- We cannot accept partial payments unless a payment arrangement has been made and accepted in writing by the resident and approved with the owner of the property.
- Late fees will be enforced (Typically on the 5th of the month), and if applicable, the fee for the notice of late fees.
- We will use multiple methods of communication to include email, telephonically, and text to residents between the 4th and the 6th to discuss delinquent rent payment as a means to circumvent eviction proceedings.
- All fees will be equally enforced with all delinquent residents.
When Eviction is Necessary
If and when eviction becomes necessary, filing evictions promptly are critical to minimizing the impacts for all parties involved.
Below are basic eviction rules:
- If residents want to stay, they have to pay
- If the eviction is filed early, a majority of residents will pay the rents and fees due and settle the eviction
- By filing early and consistently demonstrating professionalism and a sense of urgency, it is less likely to need to file again with the current residents
Breach of Lease
Your Real Property Manager is responsible for ensuring compliance with the lease, including terms pertaining to drug-free housing, smoking, pets, yard maintenance, number of occupants, quiet enjoyment, parking, and vehicle registration. Enforcing these rules uniformly and consistently will help keep the rental property in good condition and preserve the value of the property for your owners and others in the neighborhood.
Owners with rental property must report their rental income to the IRS. You will receive a 1099 Form from real Property Management Stellar at the end of the year showing this income. This will alleviate you of the requirement to manually record and track income as well as expenses to potentially include the mortgage, HOA, utilities, repairs, property management and leasing fees, etc. You will receive a profit and loss statement itemizing these deductions.
Owners frequently ask, “if my expenses on the property are higher than the rent received do I get to take the loss as a deduction against my income?” The answer is yes! As an example, if you earn $50,000 a year and you receive $20,000 in rent from the property but you had expenses on the property of $25,000 you would only be responsible for paying taxes on a total of $45,000 worth of income.
Please consult an Accountant for specific information regarding your rental property income and taxes.
Owners and Residents have access to our online portal for easy access to information and efficiency in completing financial transactions.