PROPERTY MANAGEMENT SERVICES PUERTO PLATA
Property Management Services

Property Management Services Puerto Plata

Property Management Services PUERTO PLATA

The following is a list of the tasks and responsabilities for property management services. Depending on the services you required the service fees will range from 10% to 20% of the rent:

  • Perform detailed documentation of the interior and exterior including photos and inventory for furnished properties.
  • Offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing good ROI.
  • Gather data on rental rates in the area and work with owners to determine the optimal rental rate. Rent research will vary, but should include looking at the recently rented comparables according to location, size and type of property.
  • Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.
  • Prepare home for rent: Clean home and optimize interior appeal. Manicure landscaping to increase curb appeal.
  • Market the property for rent: Create ads tailored to the property and advertising medium. Some of the mediums commonly used are:
    • Paid and free rental listing websites
    • Print publications
    • Signs
    • Social Media marketing and ads
  • Work with other realtors and leasing agents to find a tenant.
  • Field calls from prospects for questions and viewings.
  • Meet prospective tenants for showings throughout the week and weekend.
  • Receive clients/tenants when arrival and receive the property when departure or end of leasing.
  • For Long Term Rentals – Tenant Screening and Selection: Perform a background check to verify identity, income, rental history, etc.
  • Draw up leasing/rental agreement.
  • Review lease/rental guidelines with tenant regarding things like rental payment terms and required property maintenance.
  • Ensure all agreements have been properly executed.
  • Perform detailed move in inspection with tenant and have tenants sign a report verifying the condition of the property prior to move-in.
  • Collect first months rent and security deposit.
  • Rent collection:
    • Receiving rent
    • Sending out pay or quit notices
    • Hunting down late payments
    • Enforcing late fees
  • Legal: Refer owner to a qualified attorney when necessary.
  • Inspections:
    • Perform periodic inspections (Inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
    • Send owner periodic reports on the condition of the property.
  • Financial:
    • Make payments on behalf of owner.
    • Detailed documentation of expenses via invoices and receipts.
    • Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
  • Maintenance, Repairs, and Remodeling:
    • Establish a preventative maintenance policy to identify and deal with repair needs.
    • Assign jobs to different parties (in-house employees, handyman and professional contractors) based on who will do the best job for the best price.

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