Our Property Management Division is part of our Full Service Real Estate Model. Our Broker, Andy Bencosme has been a Licensed Real Estate Broker (DRE#01323356) for over 20 years and has earned the designation of Certified Property Manager (PMC) from the California Association of Realtors and Certified Real Estate Brokerage Manager (CRB) from the National Association of Realtors. Andy also holds a Masters Degree in Business Administration.
Property management fee:
• We charge an All-Inclusive Flat Fee for full service management.
• No account establishment fees.
• No over-ride on maintenance or repair work.
• No management fee until rent is received.
What the management fee covers:
• ALWAYS THERE. We are available 7 days a week to ensure prompt response to maintenance and repair requests, and to show your property to prospective tenants at their convenience.
• TECHNOLOGY AT YOUR SERVICE.
We use Property Management Software to track all repairs, vendors, rent payments and any other activity that pertains to your property. We provide reports on a monthly and annual basis to keep you informed and to help you prepare taxes. We also use an online payment system for tenants to pay the rent. This helps ensure timely payments with good funds.
• EXTENSIVE ADVERTISEMENT:
We offer wide visibility to any units that are vacant or will soon be vacant to ensure minimal down time between tenants.
• TENANT SCREENING.
Selecting good tenants is our #1 goal. Choosing the wrong tenant can create a nightmare, so I strive to thoroughly screen all prospects. We run a credit report on all adults who are prospective tenants as soon as we receive the application. In addition to the credit report, we verify given information from previous landlords as well as current employers. After collecting and verifying all the information we choose the applicant or submit the results to the homeowner for final decision to either accept or reject the application. We are flexible in how you want to proceed.
• RENT COLLECTION:
Rents are typically due on the first day of each month, with five days grace period. We collect the rent for you, pay any outstanding bills, complete the accounting and reporting and mail you the proceeds along with a report before the 15th of the month. We can also deposit your proceeds for you and mail or email the financial report. We are flexible and work with you to come up with the best solutions for you.
• WE INSPECT YOUR PROPERTY:
Before new tenants occupancy we inspect the property to verify the move-in condition. A “Move-In” report is generated and in some cases a video or still camera will be used to record the visual inspection. The same process will apply at the move-out phase. During the rental period we perform periodic drive-by inspections to check for apparent abnormalities. A written notification will be sent to the tenant if a violation of house-rules or regulations is noted. If necessary an inside inspection will be performed.
• MAINTENANCE AND REPAIR COORDINATION:
When maintenance or repair service is required, we will contact the appropriate professional for the job. We offer flexibility in using your choice of professionals, or to use professionals that we have had success with. We do not charge any over-ride fees or make any type of profit from service. This ensures only necessary maintenance and repairs are done.
• ACCOUNTING AND FINANCIAL STATEMENTS:
After signing the property management agreement, all the money received from the homeowner and/or the tenant will be placed in a trust account. A monthly revenue and expense statement will be issued. We will attach copies of all maintenance and/or repair invoices. At the end of the year we will facilitate the preparation of your income taxes by issuing a special year-end account analysis report.
• CONTRACT FORMS AND DISCLOSURES:
We will provide the entire updated contract and disclosure forms necessary for the protection of your interests.
• POST TENANCY CLEANING SERVICE.
Village Property Management will coordinate this service, if necessary.
What the property management fee does not cover:
• HOMEOWNER’S AND PROPERTY INSURANCE.
• HOMEOWNER ASSOCIATION FEES: The HOA fees are not included in the management fee but upon homeowner’s request and authorization, we can include it in the monthly rental expenses and issue a payment on the owner’s behalf.
• COST OF MAINTENANCE AND REPAIR: Although Village Property Management coordinates all the repair and maintenance services, we are not responsible for the respective payments. Vendor payments will typically be done from Repair Reserves we hold in trust or will be paid from rents collected. We recommend $1000 for Repair Reserves be held for this size property.
• MORTGAGE PAYMENT.
• PROPERTY TAXES.
• DELINQUENT RENT COLLECTION SERVICE/ LEGAL FEES. In the situation where the rent collection is overdue and the tenant doesn’t show signs of cooperation, at your direction we will engage the services of a credit collection company or an eviction company. This will insure compliance with all laws and will be the quickest path to getting rid of a problem tenant. Cost and fees are not included in management fee.
• MAJOR REHABS. In the event of an extended vacancy period in a unit, in order to do a major rehab. We will coordinate all the work required and will charge a small flat fee for this service.
• COOPERATING BROKER FEE. If needed and with your input we may list a unit on the Multiple Listing Service. If another Broker secures a prospective tenant we enter into a lease agreement with, that broker will be paid a market rate fee of one year’s lease amount. It is rare that this is necessary but well worth it instead of an extended period of lost rental income.