Property Management

PROPERTY MANAGEMENT

Property Owners

The experts agree that during these challenging financial times, property owners should work with the most talented and knowledgeable management firms in the industry.

These firms are members of the Institute of Real Estate Management and have received the Accredited Management Organization designation. They employ professionals that have received the Accredited Residential Manager and Certified Property Manager designations.

RE/MAX Premier Properties is one of only five companies in Reno Nevada and one of only 530 companies nationwide to have received the prestigious Accredited Management Organization designation. Our management group has two Accredited Residential Managers on staff and a Certified Property Manager directing and supervising all real estate management activities.

Don’t trust one of your biggest investments to unproven, inexperienced or “Johnny come lately” property management companies. RE/MAX Premier Properties has been managing commercial and residential properties in the Reno, Sparks area for over twenty three years.

Services Offered by RE/MAX Premier Properties
RE/MAX Premier Properties provides a full range of thorough and competent service services for our owners. Listed below are some of the management services we provide:

Financial Responsibilities

◦Create and maintain a computerized summary of your account, displaying incomes and expenses in detail.
◦Monitor all income and expense activity from your account, and maintain a monthly running balance.
◦Send out a computerized monthly statement to all owners displaying monthly activities and owner funds.
◦Owners have the option of automatically deducting from their accounts mortgage payments, property taxes, insurance, repairs, and owner funds.

Property Maintenance and Upkeep

◦Coordinate and dispense all repair work to quality contractors and in house maintenance staff. Work in close connection with all contractors for quality control and efficient follow through. For repairs exceeding $200.00 owners will be notified to receive authorization.
◦When property is vacated, all repairs and necessary cleaning is done through RE/MAX Premier Properties.
◦All rents are collected on a monthly basis by the 4th day of each month. Timely payment is recorded and supervised by the property manager. If needed, the property manager files timely evictions.
◦Owners have the option of automatically deducting from their accounts mortgage payments, property taxes, insurance, repairs, and owner funds.
◦RE/MAX Premier Properties schedules utilities to be turned on and off as necessary as properties become vacant or as weather dictates.

What is Property Management?

Our objectives in Property Management are:
◦To preserve and safeguard the capital asset.
◦To secure and maintain the greatest net return possible at minimal cost over the life of the asset.
◦To maintain good working relationships between management, clients and tenants.
◦To enhance the value of the property through skillful management and well considered improvement.

Activities

The activities that RE/MAX PREMIER PROPERTIES undertakes to accomplish these broad goals are many and diversified. Listed below are a few services available.
◦Handle tenant relations and communications.
◦Coordinate written lease agreements and determine appropriate terms of such agreements.
◦Screen and qualify perspective tenants.
◦Evaluate property periodically to determine rental value through market surveys.
◦Review the physical condition of the property and develop maintenance programs.
◦Rent collection and security deposits.
◦Disburse expenses with vouchers through trust account and provide monthly computer generated accounting statements.
◦Resolve delinquent accounts, including EVICTIONS and collections.
◦Provide real estate services at your option should property be for sale or exchange.
◦Control and interface maintenance problems with tenant and maintenance person(s).
◦Consultations

Fees

Fees charged are among the most competitive available and will vary depending on the amount of services you request or require, for the Management Program you feel best suites your needs.

We look forward to introducing you to our complete property management services, each diversified enough to best serve your individual needs.


Ten most frequently asked questions

We have found that when prospective clients call to ask about our services, they often ask the same types of questions. We decided to create a list of frequently asked questions. Now when you speak to one of our agents, you will already be an informed investment property owner.

•Question # 1
How do you find a tenant?
•Answer: We utilize many resources when marketing your property. We place ads with local papers. We also post ads on our website that link up to many search engines. We post on Craigs list and other websites and we will place a sign at the property when appropriate.
•Question # 2
How do you qualify a tenant?
•Answer: We follow the guidelines provided by Nevada Landlord/tenant law. We qualify tenants based on the following: Credit, Previous rental history, Employment history, Income and expense ratios, Rental default history.
•Question # 3
How do you determine the rent price for my property?
•Answer: We do a comprehensive search of similar properties in your community. We compare like properties and included amenities side by side with your home. Based on our extensive knowledge and experience with the communities in the area, we are able to determine the right price that will help your home get rented quickly.
•Question # 4
How long will it take to find a tenant for my property?
•Answer: There are many factors that contribute to a property’s value. Location, price and condition of the home play the largest role. It is difficult to say that your home will rent in a specific timeframe but if your property is in good condition, in a good location and priced right, it should rent quickly. A typical home will rent in 45 days on average. It could rent in a week or it may take longer than the average based on market conditions and other factors as we mentioned above.
•Question # 5
Why is my property a good investment?
•Answer: We believe there are four main benefits in owning investment property. Income: Cash flow generated from the rental property.
Equity Buildup: While the tenant is paying your mortgage, your mortgage is decreasing and equity is building. Tax Savings: Tax laws may provide a shelter for the income through depreciation.
•Question # 6
How is maintenance handled?
Answer: Our tenants have the option of emailing, faxing or mailing in a non-emergency maintenance request. Our maintenance staff are required to contact the tenant within a 24-hour window. The staff or vendor will inspect and repair the problem while onsite. If the cost is more than $250.00, they will provide a quote and we will seek the approval of our client before proceeding with the work. If the tenant has an emergency maintenance issue, they are instructed to call our 24-hour answering service. Emergency issues typically require immediate approval. You may not be notified until the following business day.
Question # 7
How often do you check on my property?
•Answer: We do bi-annual surveys or two surveys per year. We drive by every property once every month. If the exterior of the home has changed from the last time we visited, we will immediately schedule a survey of the interior as well.
Question # 8
How long do we sign an agreement for?
•Answer: Our agreements are for 12 months.
Question # 9
Can you pay my bills?
•Answer: We can pay the following: Mortgages, insurances, HOA fees, utilities, property taxes and more.
Question # 10
What does all of this cost?
•Answer: Management fees are dependant on the rental rate and ranges from 7-10%. Our leasing fee is 20% of the first month’s rent which is not paid until the property is rented. Our rates are negotiable for multiple units and commercial properties.