Detailed Property Management Services
As an investor, you are aware of the many decisions that are involved in seeking to maximize your investment income. Donovan Realty can help you with these decisions. Our objective is to protect your investment, and work with you toward increasing the value of your asset.
FAIR MARKET VALUE: We evaluate and assess the monthly rent of your property according to current competing rentals, comparables, and market trends in order to minimize vacancy. We use our expertise and experience to make recommendations regarding asking price, handling rent increases for lease renewals or determining the correct positioning of your property in relation to other rentals.
MARKETING EFFORT: Our offices are open seven days a week to handle the interest generated in your property through “for rent” signs, advertising, our extensive referral network, the Donovan Realty website (www.DonovanRealEstate.biz), Realtor.com, Craigslist, and Multiple Listing Service (MLS)
LEASES: All leases are prepared with the utmost care to insure your property is protected from the beginning. Unless you specify otherwise, we will negotiate for a minimum Three-months (3) lease and position your property so that any termination date will fall within the market time frame most advantageous to you. Our lease requires the return of a clean house with professionally serviced carpets; additional security deposits for pets, if considered by the owners; and adherence to specific maintenance items of tenant responsibility. In addition, we mail a move-out checklist to tenants after receipt of their notice to vacate the property.
INSPECTION PROGRAM: If possible, properties are inspected with the owner to determine potential areas of concern or preventive maintenance needs. Once the property is rented, we inspect it with the tenant within ten (10) days of occupancy and provide a written record of the condition at that time. For your convenience, we insist on periodic inspections throughout the term of the lease and again after the tenant have vacated the premises.
REPAIRS: If repairs are needed, we contact accredited companies to make repairs. We arrange for repair people to enter the premises and assure that the conditions are corrected. We contact you if the repairs are not emergencies so you may make a decision on the proper action to take.
DISBURSEMENT OF FUNDS: We mail out owner statements and checks for the collected rents, less our management fee and expenses paid on behalf of the owners, on the fifteenth (15) of each month. Should a tenant pay late, we notify you as soon as possible.
COLLECTIONS: We encourage timely tenant/property manager communication to prevent late payment situations from turning into collection problems. Should a breach of lease occur, our follow-up procedures assure you of minimal income loss. We immediately issue the mandatory five-day (5) notice when a rent payment is delinquent. If necessary, we will file for eviction, follow the Court’s instruction as your agent, and coordinate any evictions with the Sheriff’s Department, if so ordered. Each step is attorney-approved to insure full compliance with the law.
ACTIVITY SUMMARY: Our computerized system keeps your account balance accurate and current. You receive monthly as well as year-end summaries for your records.
PREVENTIVE MAINTENANCE: Deferred maintenance can be very costly; therefore, we make every effort to prevent small problems from becoming bigger ones. Quick response time on small repairs helps retain tenants and minimizes major repairs.
INVESTMENT INFORMATION: We can assist you in the evaluation of your real estate investments through comprehensive market analyses. A full-service real estate company, Donovan Realty, has helped many clients make informed rent/sell decisions concerning their property.
FEDERAL TAX FORMS: We will file your end-of-year 1099 form for your Federal Income Tax purpose. Also, a detailed expense report is issued to you to file your taxes.