The goal of our Professional Management Program is to provide absentee property owners with confidence that their property is attended to with sound fiscal and physical controls. We are totally committed to coordination, communication, implementation and follow-up to provide you with the best possible return on your investment.
Reputation and name recognition enhance our ability to attract rental prospects. We maintain one of the most proficient “tenant networks” in the area. Referrals from satisfied current and past tenants, Realtors, suppliers and our community partners provide us with a continual flow of qualified prospects. Ads on our many websites also draw substantial attention from prospective renters.
Our application process is extremely thorough. Before the application is processed, we calculate a debt to income ratio and a rent to income ratio based on what the applicant claims on the Rental Application. In addition to name and social security number verification, we check the applicant’s credit, research previous landlords, verify employment and check for any criminal history. Once this exhaustive investigation is complete, a judgment is made as to the prospect’s suitability for the applied for property.
Upon approval of the applicant, a lease is executed and the first month’s rent and security deposit are collected prior to occupancy. Rent is deposited to a Rent Escrow account from which the management fee, any other expenses (such as maintenance) and the Owner’s proceeds are paid. Security deposits are held in a separate escrow account in compliance with South Carolina law.
Keys and HOA Rules & Regulations
Keys, garage door openers, gate clickers and activity access instruments (as applicable) are signed out to the new tenant and record is kept in the Tenant’s file. A copy of the Rules & Regulations of an applicable Homeowners Association is provided to the new Tenant and a receipt signed by the new Tenant is kept in the Tenant’s file.
Rent is due on or before the first of the month and late after the fifth day of the month. Although we do everything possible to rent to qualified Tenants, unusual circumstances sometimes cause a Tenant to pay late. Substantial efforts are made to collect past due rents and late fees are charged to Tenants who do not pay on time. Said late fees, when collected, are retained by management to partially compensate for the efforts expended in collecting. After every effort is made to enforce the collection of rent, eviction proceedings are initiated around the fifteenth (15th) of the month if rent has not yet been paid. All costs of the eviction are added to the rent and late fees due from the Tenant.
Accounting and Funds Disbursal
Rental proceeds will be disbursed to Owners by the fifteenth (15th) of each month in which the Tenant pays on time or within the five day grace period. Should the Tenant pay late, you will be informed and can expect your proceeds within ten (10) day after receipt by us. We encourage automatic deposit to your bank account as it speeds up your receipt of the funds. A monthly report of activity is posted to your “Owner Portal” on our website and/or emailed to the email address you provide. Annually, you will receive an IRS Form 1099 together with a financial report for the year.
To maintain your property in prime rentable condition, a thorough inspection, with a written report, will be made upon the execution of the Management Agreement and upon any turnover in tenancy. While vacant, your property will be inspected at least every two weeks. When occupied, your property will be inspected semi annually with your Tenant in attendance. These inspections are included in our service at no extra charge to you.
Maintenance and Repair
We take pride in maintaining your property in a condition that meets our exacting standards for rentability and protects your investment. Other than minor service calls or repairs, we subcontract all maintenance and you are charged only our cost. We work with only the most reliable and best subcontractors in our market and require that they are licensed and insured. All repairs or improvements estimated to exceed $200 must be approved by you prior to our commencing the repair, except in the case of an emergency. We encourage you to engage an HVAC contractor to perform semi-annual maintenance on your systems. If you need a recommendation, we have contractors who provide our clients with a discounted rate.
Fire and Safety Inspection
Your property must be inspected annually to confirm that smoke detectors and fire extinguisher are in proper working order, change batteries in smoke detectors and recharge fire extinguisher (if necessary). You may perform this task yourself or we can contract it to be done and deduct the cost from your account.