RESOURCES
Property Management
We'll manage your investment property the same way we manage our own... with professionalism and vigilance. The success of any long-term real estate investment hinges on two factors, getting the right tenants and having professional property management. We'll thoroughly vet potential tenants to ensure that your vacancy is kept to a minimum. And when improvement or maintenance needs occur, we'll handle them without breaking your budget.
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Benefits of Professional Property Management
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Property Evaluation
We will assess your property, make recommendations, and obtain the best price and a quality tenant.
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Vacancies
Vacancies are expensive for landlords as well as their property management company. We will make every effort to keep our vacancies to a minimum. Our aggressive marketing plan allows your property to be presented to the largest possible market in the shortest possible time.
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Tenant Selection
We want good tenants just as much as you do. We pride ourselves in the quality of tenants we are able to attract. Freedom Growth Realty views resident selection as an extremly important function. We have experience in dealing with tenant screening and we can virtually insure a hassle free experience. Our extensive tenant screening and credit investigations help to ensure this.
Applicants are required to complete a detailed rental application, meet minimum income requirements, rental background, credit requirements and provide references. We run a total credit check on all prospective tenants. In addition, we report any delinquencies to the credit bureaus. This has proven to be extremely effective in stopping late rent payments.
Once a tenant's application has been approved, appointments are made to approve the actual lease agreement. We review the lease thoroughly with the tenant. This gives us a chance to answer any questions and to carefully explain the tenant's responsibilities as well as our company's policies and rules. This attention to the tenants' needs greatly reduces misunderstandings and eliminates many potential problems before they are problems. A copy of the lease agreement will always be sent to you upon execution.
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Security Deposits
For additional protection, appropriate security deposits are always collected upon completion of rental applicants by a prospective tenant. Amount of deposits are based on the monthly rental rate and the credit worthiness of the tenant. Applicants with pets are required to pay an additional pet deposit, if the owner approves a pet.
All deposits are maintained in a trust checking account as required by state real estate regulations until they are either refuned to the tenant upon the successful check-out inspection or are forfeited to cover damages caused by lease violations.
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Rental Collections
All rent is due on the 1st of each month and is considered late if received after the 5th of the month. Late notices are sent on the 6th and removal proceedings are initiated if the tenant does not make immediate arrangements for rent payment. We feel that the collection of rent is the second most imporant function of managing your property.
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Accounting Services
Every transaction affecting your account balance is recorded and explained in detail. Our computerized accounting system enables you to see exactly what has transpired with your property on a monthly basis.
Copies of all work orders and receipts are kept on file throughout the year. We will be happy to provide duplicate copies of this information at the end of the year to help you with your tax preparations.
In addition to the monthly statements, we also provide a complete account summary at the end of the year. This shows you each accounting transaction posted on your property during the year, e.g., total rent received, total mortgage payments made, total maintenance expenses, etc. These statements are specially designed to simplify the year-end tax preparation job for you and your accountant.
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Property Inspections
Our main job is to protect your investment property. We do this in two different ways. First we make frequent drive-by inspection tours of your property. In addition, we make regular preventive maintenance inspections of the interior of the property. It is stated in the tenants lease agreement that we have the right to make routine announced inspections. Tenants are always notified in writing of pending property inspections.
Freedom Growth Realty conducts routine inspections, and tenants who are doing a good job received a letter thanking them for their time and the care taken in maintaining their home. Tenants who are doing a poor job are also notified, and then we follow-up with a second inspection ten (10) days after the tenant has received the failure report. If the tenant has not shown good faith by providing property maintenance or making requested repairs we will begin proceedings to correct the problem at the tenant's expense.
Maintenance Services
Timely and competent maintenance is the key to protecting your investment. Our goal is to provide you with this important service at a reasonable price using qualified personnel.
All repairs and maintenance services are performed by our handyman staff, outside vendors, and contractors. Each has been selected because of their ability to provide the best possible service at the best price.
You reserve the right to schedule and control any or all repair and maintenance responsibilities, if you desire.
Routine repair and maintenance will be performed as needed and will be based on urgency and importance. For any major job, we usually obtain written estimates from three different companies, notify you, and obtain your approval before we proceed.
We ensure the quality of the work performed by making spot checks and follow-up inspections. You are further protected because each job is fully documented in writing and supported with receipts.
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Eviction Proceedings
We hope you will never have to use our eviction services. To protect you, our office has the latest resources to verify every aspect of the applications.
Unfortunately, even families that are well qualified can encounter serious situations (loss of employment and divorce are the most common). In many cases financial instability is the problem. When a family does not pay rent and does not move, our only recourse is to take legal action.
Typically, the paper work is sent to the attorney's office, the tenant is served the legal papers and our office will appear on behalf of the owner to present evidence. The matter is usually an issue of unpaid rent and the judge normally finds in favor of the landlord. The total eviction cost varies and we generally expect the process to take about three weeks after we send the paper work to the attorney.
Should an eviction process need to be implemented we will discuss the matter in full detail with you and make the process as easy and pain free as possible.
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