If you’re interested in cost-effective property management, we can help!
Why pay between 7% and 10% of your property’s gross annual income EVERY YEAR, if you don’t have to? We don’t believe that the typical property management company does enough work to warrant that kind of compensation.
Select A Fee Real Estate System & Rentals™ will provide current market information to make sure you’re getting the highest possible rent for your property. We’ll analyze the data and help you determine the best rental price and terms.
The key to a successful rental transaction, is to find a qualified tenant candidate. Select A Fee Real Estate System & Rentals™ has developed efficient screening processes that help you find the right rental candidate, the first time.
- As members of the Credit Bureau, we can obtain the prospective tenant’s credit report immediately. We can effectively work with prospective tenants that may not have a stellar credit rating, but they have an excellent work history.
- We will verify their income by comparing their previous year’s W-2 and 2 current pay stubs.
- We contact their last 2 previous landlords to discuss their rental payment history. Most property managers will simply check with the candidate’s current landlord; to find out if the prospective tenant has been a ‘problem’ tenant, including not paying their rent on time. Sometimes, the information given can be deceiving. Unfortunately, some landlords will not disclose negative tenant issues . . . because they want the tenant OUT! We put forth the extra effort to not only check with the candidate’s current landlord, but also with their previous landlord. The previous landlord has nothing to lose by telling the truth.
- We will make a copy of their driver’s license or other legal ID, and verify their identity.
- If necessary, we have the ability to initiate a criminal background check, as well as a ‘sexual predator’ report.
- Once we have verified the tenant’s information, you will have the opportunity to review the data; and if satisfied, accept them as a tenant. We will write up the appropriate lease for you, depending on the location of the property. In the City of Chicago, a special lease and the required RLTO (Resident Landlord Tenant Ordinance) disclosure must be used. It is important that this is done properly, as penalties to the landlord are substantial. It’s also important to know that in the case of multiple-year leases, the landlord is liable to pay the tenant interest on their security deposit each year. The penalty for non-compliance is up to two times the amount of the security deposit, plus attorney fees.
- To assure that the rent payments are paid on time, we will have the tenant set up an automatic payment from their bank account; directing each month’s rent amount to be deposited directly into your bank account. Or, we can set up a payroll deduction with the tenant’s employer; having the rent amount directly deposited into your bank account. We’ve learned that the best way to avoid late rent payments, is to take away the option of paying late. By setting up automatic payments, our clients receive their rents on time, at the beginning of each month. They have peace of mind knowing that this system reduces the risk of late payments, or payments not being made.
Most rental properties, whether it’s a single family home, a townhouse, or a condo; require very little ‘management’ once it has been leased. So, what does the typical property manager do to earn their fees, after leasing the property???? Very little, actually.
This is how our successful ‘Property Management with a Twist’ program will cost you less, and save you more money:
- First of all, Select A Fee Real Estate System & Rentals™ property management fees are much more affordable and are in sync with the amount of work to be done. We charge a simple annual fee of ½ of the monthly rent amount. If you do the math, you’ll see that this pay structure alone will save you a lot of money!
- The second part of our ‘Property Management with a Twist’, can save you even more money! The key to the success of our system is the required implementation of a 1-year Home Warranty on the rental property. Our clients achieve peace of mind regarding the mechanical components, as well as any appliances in the rental home. For an annual cost of just $495, the property owner can rest assured that they will not have to pay for costly repairs or replacements, that can significantly cut into profits! A typical service call (for just about any issue) is usually $100. The actual repairs can cost several thousands more. And, if the appliance or mechanical component of the home cannot be fixed, you will be liable to replace them! The Home Warranty company has been around for many years and has A+ business rating. This company has a fix or replace policy on the home’s mechanical components and appliances. If something breaks down, your tenant will be instructed to call the toll-free number to set up a service appointment at their convenience. The tenant will be required to pay the $100 deductible at the time of service, but the fee will be deducted from their next month’s rent once they provide the paid receipt.
So, we’ll ask again . . . Why pay between 7% and 10% for property management services, if you don’t have to? Call Select A Fee Real Estate System & Rentals™ today at (312) 421-1000, or contact us at email@example.com. We’ll be happy to show you how ‘Property Management with a Twist’ can save you money, and turn your rental property into a profitable venture.