|
We believe in avoiding miscommunications with our clients by spelling out the details of our business relationship up front. The last 38 years in the multihousing industry and thousands of satisfied clients along with some dissatisfied clients have taught us the wisdom of this. We will review and execute the agreement after you are confident it fits your situation. This section is a summary of what you can expect from us.
Management Agreement Highlights
Exclusive Agreement
Accountability
Money-handling
Insurance
Fair Housing & Consumer Protection
Compensation
What-if Clauses
Exclusive Agreement
The management of your rental requires that we are a California licensed broker. As such, California Real Estate Laws and the regulations of the Department of Real Estate govern us. Our management agreement is in strict compliance naming our company as your exclusive agent regarding all rental, leasing, management and maintenance of your property. Compliance requires that our authorization to perform as your agent be spelled out in writing. It is important that you understand that any other real estate agents approaching you to sell your property must coordinate with us. Remember when a real estate agent acts on your behalf the legal and financial responsibility is yours. That is why it's important to employ our company that specializes in this type of management.
Back to top.
Accountability
You pay us for our management, leasing, maintenance supervision and accounting efforts. Part of our job is to make decisions on your behalf including spending money wisely based upon our experience within the time constraints that the situation allows. Our management agreement establishes guidelines in areas like advertising, screening rental applications, rent collection, repairs, etc. We are proud of our performance in all these areas. Good communication is vital to our success so we go the "extra mile" providing you with updates, reports, and toll-free numbers as well as our website so you can stay in touch
Back to top.
Money-handling
Rents, resident security deposits and owner capital contributions are received and held in trust accounts subject to the oversight of the Department of Real Estate. Explanation of all disbursements: maintenance expenditures; mortgage payments; property taxes and insurance; resident deposits; resident application fees; resident late charges, etc. are reported monthly so you know where and how your monies are being spent. Guidelines for money-handling are spelled out in our management agreement.
Back to top.
Insurance
Guidelines for appropriate coverages, special clauses, named insured, etc. are covered in our management agreement so you can best control your rental property risks.
You must always carry a current fire and liability policy and provide evidence for our files. This policy is a special form to reflect your rental ownership and will name us as co-insured. We recommend that you carry a minimum of $500,000 - $1,000,000 in coverage depending on your exposure.
Back to top.
Fair Housing & Consumer Protection
The liabilities that can affect rental owners are often ignored until it is too late. Our management agreement is an important buffer to that liability along with the systems, policies and procedures that we employ. Remember, ignorance is no defense, so hire us to protect you.
Back to top.
Compensation
Our management agreement spells out what, how and when we are paid for our professional services. All of this has been well thought out based upon:
- surveys of our competitors,
- monitoring the cost of maintaining the client service we consistently deliver, and
- communication with our clients for feedback and expectations
Back to top.
What-if Clauses
Our management agreement will give you ongoing peace-of-mind by including guidelines for the unanticipated situations that plague rental ownership. Fortunately, that's why there is no substitute for experience in the face of the unknown and you are contracting the services of the industry leader.
Back to top.
|
