Property Management and Rent Collection Process
Our property management company uses an established set of systems to insure accountability through every part of the property management process from tenant screening and placement to timely rent collection. Finding qualified tenants is the most integral part of our property management process, and the core mission of our property management staff. As a full service property management company, you can expect from us the following services:
1. Tenant Screening:
All of our tenant applicants are subjected to a rigorous screening process, including credit analysis, verification of employment and income, background check, criminal check, and detailed landlord history. Tenants are expected to disclose all personal information immediately upon applying, and approval is at the discretion of our experienced property management staff. Tenants who have a questionable rental history or who have undergone recent bankruptcy or eviction are immediately removed from the applicant pool. If there are any questions as to a person’s ability to pay, they do not qualify to rent from us.
2. Lease Closing:
Approved tenants sign and close their lease at our office, where we explain, in detail, all of our policies and procedures. Tenants sign comprehensive lease documentation that allows us to remain in control should nonpayment or default occur. Our lease includes a waiver of the 30 day notice clause that is standard procedure in the State of Tennessee, so if/when a tenant defaults they can be evicted immediately. We explain our detailed procedures regarding maintenance issues and maintenance service requests, so any maintenance issues that arise with an investment home can be dealt with immediately. This insures a higher level of tenant satisfaction as well as preserving the structural and systems integrity of your home. Additionally, it minimizes the work needed between tenant transitions, increasing your annual return.
3. Rent Collection:
All tenants are made aware of their rental due dates and we demand strict adherence to payment due dates. The day a tenant goes late on their rent our property management staff are in direct contact with them assessing the situation and determining if payment arrangements are necessary or if eviction is needed. Immediate response to any late payment allows us to remain in control and establish firm collection guidelines.
Our detailed property management software simplifies your accounting and enhances your ability to benefit from the tax-sheltering effect that investment real estate carries. A detailed summary of income, expenses occurred by us on your behalf (maintenance, etc.) and vacancy/occupancy rates are mailed at the end of every fiscal year. They are also available throughout the year at your request. We track your income and expenses for each property to insure your accounting is simplified, so you can focus on your investments.
Insuring Your Success
Our aggressive and proactive approach to rent collection allows us to remain in control of all tenant related issues regarding nonpayment of rent and enforcement of the lease. Our management portfolio consists of over 1,700 single family homes in the Memphis metropolitan area, and we are growing each day. Our highly trained property management staff insures your success, and our commitment to customer service maintains our accountability and commitment to you.
If you have a property that you would like us to consider managing, please feel free to contact us.