Owning rental property can seem like an easy way to produce extra income; however, if you’re not careful it can turn into a nightmare. According to the National Association of Realtors, 40% of home sales in 2007 were second homes, 35% of investment property owners plan to buy another property in the next two years. Most 63% of the surveyed respondents said they bought investment property for the rental income.

 

To best protect your investment is to be very meticulous in finding a good tenant. By taking shortcuts through the screening process of potential tenants you can end up with unpleasant and costly surprises. By hiring a property manager you create a liaison between the Landlord (yourself) and the tenant. A property manager takes care of all the daily operations which include, but are not limited to: bookkeeping, collecting payments, advertising property, finding and screening tenants, and maintaining all records for rental, costs and property availability.

 

Management Services has been in business for over 25 years. We offer property management for houses, apartments, storage facilities, and commercial rentals; as well as Home Owner’s Associations. We have the largest selections of rental properties in the area. The staff is second to none in customer service. Some of our staff members include:

 

 

We charge 10% commission of gross monthly rents for one property. However, if there are multiple properties and depending on their location then the commission is negotiable.

 

Quarterly inspections can be completed on each property. These inspections are not required but they are recommended for your protection. Our inspections include, but are not limited to: changing AC filters, verifying smoke detectors are in working condition, check for any abuse or neglect to the property caused by the tenant, etc. Quarterly inspections are not included in our commission and generally cost an average of $15 to $30 depending on the location.

 

Each month we send out monthly cash flow statements that list all income minus any expenses along with your rental check. You may choose to have this statement mailed, emailed, or picked up in person. We can also direct deposit the money into your banking account granted you provide us with deposit slips.

 

Security deposits are normally equal to one months rent. In spite of this, an additional amount may be required, if needed, based on information we received during the screening process. The deposits are held in an escrow account until the tenant has vacated the premises and our maintenance department has inspected the unit. Tenants are responsible for any damages to the property. We reimburse the deposit back to the tenant after we have deducted any damages, unpaid rent, or any other charges on his/her account.

 

We would love to manage your property for you and take away the stress of doing it on your own. Our office hours are Monday through Friday between 9am to 5pm. Please give us a call at 637-5600.