Modern Real Estate Services LLC DBA Welcome Home Realty

OUR SERVICESFOR PROPERTY MANAGEMENT

1. Evaluation of the property

• Rental market analysis and existing comparable in the area to decide rental rate.
• Walk through of interior and exterior of the property. Compilation of photos for reference.
• A list of possible repairs and improvements to make property ready for rent and also more marketable.

2. Make property ready for rent

• Cleaning of property.
• Make necessary repairs to make it "ready for rent".
• Proper advertisement and open houses will be performed in order to rent property.

3. Tenant Selection

• A proper background check will be performed.
• Income verification.
• Credit and rental history.
• Applicants will be notified of the decision.

4. Leasing agreement

• Leasing agreement is made and discussed with tenant.
• Points that will be discussed includes: rent amount, consequences of violation of contract, where rent needs to be delivered, date when rent is due, request of repair and maintenance, terms of the contract in general.
• A move in inspection of the property will be performed with tenant after contract is signed. The tenant will have to sign a report verifying the condition of the property prior to move in.

5. Collection of rent

• Collection of rent.
• Make sure rents are in on time and collected.
• Evictions notices if tenant doesn’t pay on time.

6. The process of Evictions

• Eviction process will start with notices to tenant in person and by mail.
• Eviction will be sent to court if necessary.
• Representation of landlord at eviction court.
• Eviction process with police to remove tenant and their respective possession after court authorizes it.

7. Legal Matters

• In case of any legal matter, Broker will refer landlord to a qualified attorney if necessary for legal advice.
• Be up to date to latest local, state, and federal laws that apply to property management.

8. Repair and Maintenance Expenses and other financial records.

• Monthly statements will be provided to landlord explaining any expenses that may occurred
• A detailed record of all expenses will be available including invoices and reports.
• All other records such as leases, inspection reports, warranties, etc., will also be available and kept for future references
• Provide annual reporting, tax forms for tax purposes including a 1099 form.
• Escrow statements will be provided which will offer a detailed breakdown of any expenses and the status of escrow money.

9. Repair and Maintenance / Remodeling

• Provide licensed, bonded, and fully insured contractors. These individuals will be selected for good pricing and good work that is up to code and perform their work with good ethics.
• The required job will be performed by a subcontractor or professional who has expertise on the field of work and also has provided the best pricing.
• A 24 hour line will be provided to tenants in case of an emergency.
• Provide renovation projects.
• Make any recommendations on how the project can maximize rental income.