Rentpro Property Management
Rentpro Property Management – Our free rental analysis report gives our owners current market prices and trends so they can make data-based decisions to optimize their investment. By using the MLS and other specialized software to measure current activity, you gain crucial insight into current market conditions to determine the best value for your property. We can also conduct a personal inspection to further analyze your investment property.
We have an in-house maintenance crew and relationships with many suppliers to save our owners money and enable us to make quick repairs for our owners and tenants. We take preventive action and perform routine inspections on all our properties, which is the key to avoiding bigger problems in the future.
Rentpro Property Management
We spend thousands of dollars each month promoting our job openings. We use an 8-point marketing plan using technology and networking to reach potential tenants and brokers across the country. Our social media marketing is key in today’s social world. We communicate with potential tenants through platforms such as Facebook, Instagram, Yelp, Google+ and more. We are ranked highly on all sites for the best possible visibility of your property.
Free Property Management Software
We understand that your investment property may need some attention before it is put on the market. We will coordinate with our highly skilled maintenance team and licensed salespeople to get your property ready for rent. Whether it’s clutter removal, yard work, painting, flooring, or whole house cleaning, we’re willing to handle all the details through our years of project management experience.
Our tenant screening process includes two job applications, a phone or in person interview, a credit and background check, rental history, work history and other critical qualifications. Don’t get stuck with the wrong tenant. Improper screening can cost you thousands and months of time.
One of the most stressful aspects of owning a rental home is all the legal paperwork. We’ve got it covered so you can sit back and reap your investment.
Most property owners do not have the time or experience to properly manage their own rental properties. They are almost always guilty of trying to tackle every project themselves.
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Often, landlords want to get a new tenant right away, so they often rush without thoroughly screening the tenant first. Either they don’t have access to the background and credit history services, or they don’t want to pay for them because they are expensive. However, improper tenant screening can cost thousands of dollars and months of downtime.
That leaky toilet that turned into a costly flood could have been prevented. We often think we can do it all thanks to how-to videos on YouTube, but that’s not the case. When it comes to maintaining your home, not everyone can do everything. You need to know what your limitations are and what you can do. You may think you can save some money by doing some of the maintenance yourself, but you could be doing more damage to the property than you would by improper maintenance. Tenants also want to know that they can trust the landlord to handle real estate issues quickly and correctly. If you have to repair something several times, it doesn’t take long before tenants start looking for a new rental home.
Repeatedly letting your tenants pay late can leave them too far behind. Unfortunately, most landlords are not familiar with the eviction process and end up being abused for months.
Another case of being too lenient is allowing bail to be paid in installments. This is really a bad idea! Once a lease has been signed and the resident has moved out, the only option for unpaid security deposit is to file a complaint for amounts owed or property (eviction) to the local court. It is always best to pay a full security deposit at the time the lease is signed and prior to the move.
The 27 Best Landlord Apps For Easier Renting
There are well-established local, state, and federal laws regarding rental properties. Not knowing these laws can be expensive and have a devastating effect on your rental investment. Local authorities often have a housing standard and in some cases require a business license, property inspection and proof of occupancy for a rental property.
There are also many landlords who are guilty of asking illegal questions! You don’t want to risk giving a potential renter enough ground to sue you for discrimination just by asking the wrong questions during the screening interview. The Fair Housing Act of the Civil Rights Act of 1968 requires that you cannot refuse a tenant’s application based on race, color, religion, national origin, sex, marital status, disability, or family status (i.e., if they intend to to have children).
A poorly written lease can expose the owner of the property to unnecessary risk. As mentioned above, documentation is critical to a successful outcome when challenges arise. Documentation begins with a quality lease that includes the applicable (and enforceable) laws, rights, and responsibilities of the landlord/tenant. Landlords often use a model lease form that must be thoroughly reviewed by both the property owner and a qualified attorney to ensure that the lease is in compliance with local, state, and federal laws. When things go well, a poorly written lease may never be noticed, but when things don’t go well, a well-written lease will help protect the owner of an investment property from unnecessary risk exposure.
For most landlords, this is an afterthought, so they tend to take care of everything themselves. This includes everything from maintenance to driving over to collect the rent. There are many components to managing your real estate investment efficiently and unfortunately when you are already spread too thin.
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Managing a property is not cheap. DIY landlords often think they will save money by doing everything instead of hiring a property management company to handle everything. Unfortunately, we often see these property owners struggling financially because they don’t estimate costs correctly. If you are experiencing some common issues, contact Keyrenter Chicago North today for more information on how to avoid these issues.
Overestimating rents can be a complete disaster. Most landlords will buy rental properties in the hope that this will provide them with an income for life or a second income. However, after investing money in renovating a home and trying to find tenants and failing, some landlords end up with huge debts and no prospects to get them out. Renovations help keep a property looking great, but it won’t be enough to help you bring in the right tenants. You need to know what to charge based on the economy and the area you are trying to rent to people. One way to find out what to charge is to check Craigslist and see what other people are charging for similar properties. By gaining this insight, you can see if you are in line with other properties on the market.
Let’s face it, we all want the resident to move in, pay their rent on time, report legitimate maintenance needs, clean and care for the property, and leave in accordance with their lease, leaving the property looking better than when they moved in. However, we must not only document the condition of the property, but virtually all transactions and communications in case there is any deviation from the perfect scenario. Periodic property condition reports (including relocation and relocation) that include photos or videos and notes not only document the condition of the property at the time, but can also help identify unreported maintenance needs. Rent payments from residents must be documented in a resident ledger showing when rent is paid each month, along with associated costs such as late fees, NSF fees, or other lease-related payments. All correspondence with the resident must be documented, including application screening and decision criteria, phone calls, email and snail mail communications. Maintenance records that indicate when work was requested, what work was done, and when the work was completed. Keeping proper records and documentation helps the rental investor navigate through challenges that may arise.
When should you evict someone? This is a difficult thing for new DIY landlords, as they often initially try to be friends with the tenants rather than act like a business deal. While you want to be kind, you have to have limits. If you have someone who is clearly violating the contract, you should start the eviction process immediately. If you don’t start the process early, you can become vulnerable to people who don’t pay late fees and keep paying late month after month. Avoid the habit of accepting partial payments, this will only cause failures and show weakness to a tenant who lacks the proper money management skills.
Sandy Feat North
“Paul and his team have been managing several of our multi-family and single-family homes for over 5 years. They have always done a great job for me and I would highly recommend RENTPRO Management”
“RentPro Management was a great company to work with. They found me great tenants and followed the maintenance closely.”
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