The business of Property Management covers many issues and cortespatrick
wants to make it as clear as possible to our clients the level of service
we provide and the types of charges that you may incur.
We are here to help make your investment as pleasant and profitable as
possible. Please feel free to ask any questions.
The purpose of this section is to present the benefits our property owners
can expect to receive from cortespatrick. In establishing a personal relationship
with our customers, it is important that each party understands exactly
what is expected of the other. Our primary objective is to attain the goals
and objectives of our customers and their rental properties. We believe that by familiarizing you with the administrative process
of how we lease and manage your rental property, we can avoid surprises
that could occur later on. It is important that you realize that we will
move forward with our administrative property management process as outlined
herein, unless you otherwise direct us in writing.
Therefore it is to your benefit to review and understand the following
services that are automatically provided and instituted by cortespatrick
for the benefit of you and your property.
The following is an outline of some of these benefits and services that
you as our customer can expect us to automatically provide and institute
on your behalf:
| Leasing : |
| 1. |
We will place your vacant property in one or more publications
at our discretion including internet ads, and/or local newspapers.
The cost of advertising is included in our fee in accordance with
the Property Management Agreement. cortespatrick will use professional
judgment in selecting ad size, placement, days run, and publications. |
| 2. |
Placement of your vacant property on our web site,
and signage are provided at no charge. |
| 3. |
We will schedule showings of your property 7 days a
week to all prospective renters until your rental home is leased. |
| 4. |
All rental applicants will be subjected to: |
| |
a. |
A credit report on each adult rental applicant. |
| |
b. |
Criminal background |
| 5. |
We will lease your property at the asking amount of
rent, (as outlined in your management agreement with us) or higher.
Rent rates are determined by market conditions (location, property
features, condition, price, and terms) and you will be best served
by taking our advice. |
| 6. |
Once the rental applicant process is approved, we will complete
and execute the lease agreement and give the residents possession
of your rental home. |
| 7. |
We will conduct a "Move-In" property inspection and complete
our detailed property inspection. |
| 8. |
You will be notified by our company that your property
has been leased. A copy of the lease agreement will be sent to you,
once all
parties have properly executed it and the residents have taken possession. |
| 9. |
cortespatrick does not guarantee that a property will
rent at any particular rent level or in any time frame. For more
information on pricing strategies you can ask us for more on the
subject |
| 10. |
We will not discriminate in accordance with current
fair housing guidelines (to avoid a discrimination lawsuit). |
| 11. |
We will (as an additional protection), collect a security
deposits upon approval of a Rental Application by a prospective tenant. |
| 12. |
All security deposits are kept in an escrow account,
as required by the Florida Real Estate Commission regulations, until
they are either refunded to the tenant upon the successful check
out inspection of your property or are forfeited to cover damages
caused by lease violations. |
| Lease Renewals : |
| 1. |
We will attempt to renew the
residents lease at least 45 days prior to the expiration of their
lease agreement. |
| 2. |
We will renew the tenants lease for another term at
the same or at a slightly higher amount of rent, if possible. We
will not renew the lease at a lower amount, without your specific
permission to do so. |
| 3. |
We will place our home for rent sign and begin showing
the property for lease as outlined in the leasing section above,
in the event that the current tenants are not renewing their lease. |
| 4. |
We will renew the residents lease agreement, or re-rent
the property to new residents, unless we have a written directive
from you not to renew the lease or re-rent the property. |
| Property Inspections : |
| We will conduct the following property inspections
on your property: |
| 1. |
When your property is vacant,
we inspect it regularly. |
| 2. |
We conduct yearly interior inspections. |
| 3. |
We will conduct a "Move-In" inspection
prior to new residents moving into the property. |
| Rent Collections & Delinquencies : |
We do not tolerate the delinquent payment of rents.
We are careful to explain this policy to new residents in order to
avoid any misunderstandings that might arise later.
Our rent collections & delinquencies policies are as follows: |
| 1. |
We will make every effort
to collect rents timely and when due on the 1st of each month. |
| 2. |
We will "Hand Deliver" a 3-day
notice, (Florida's legal prerequisite to an eviction), between the
11th and the 13th of the month. |
| 3. |
We will turn delinquent residents over
for an eviction to be filed on or shortly after the 15th of the month. |
| 4. |
We will send all required notices to tenant
and file for evictions (when necessary). |
| 5. |
If cortespatrick is required or asked
to appear in court or in any legal proceeding for or on behalf of
you for any reason other than evictions (such as tenant disputes,
suits for damages, and others), you will be charged a flat fee for
this service plus attorney, sheriff and filling fees. (call for current
rates). |
| Rent Processing & Accounting : |
| 1. |
You will receive a monthly
statement showing all income and expenses of your rental property. |
| 2. |
You will receive a year end summary statement
for your tax purposes showing all of your yearly income and expenses
and categorizing said income and expenses, along with your 1099. |
| Property Maintenance & Repairs : |
| Rental homes must be properly maintained in order to
preserve the value of the property and maintain a positive relationship
with the residents. Florida also has laws that require landlords
to comply with certain basic maintenance and repair items. |
| 1. |
cortespatrick will not effect
repairs to your property in excess of $300.00, without first obtaining
your approval. NOTE: This excludes emergencies and repairs that are
required by law (city, county, state or federal) of be deed (homeowners
and condo associations) to be effected to your property. |
| 2. |
If your property is vacant, we will effect
items necessary to improve the property's show-ability to prospective
renters. This means faster lease ups and less vacancy for you. Examples
would include: lawn service, carpet cleaning, maid service, pool
service, utilities and painting when necessary. |
| 3. |
During the residents tenancy, we will
institute minor maintenance & repairs ($300.00 or less) when
deemed by us to be necessary for the preservation of your property
and/or the continuation of the residents tenancy, usually occurring
at the renewal of their lease. |
| 4. |
We will use our in house Handyperson Service
for most minor repairs (call for current rates). When we use outside
vendors, we only use vendors and tradesmen that are properly licensed
and insured to handle the type of work being performed on your property. |
| Insurance : |
We require you carry Fire and Extended
Coverage insurance policy with a liability policy. This coverage
protects the tenant, you, and us against a wide range of losses caused
by unintentional hazards or unsafe conditions on your property.
In addition, cortespatrick must be listed as an additional named
insured on your liability policy, with minimum limits of $300,000.
We must have proof of insurance coverage before we can manage your
property.
If you do not currently have liability coverage, we can arrange to
purchase a competitively-priced policy for you. We will also recommend
strongly to the tenant to have renters insurance to protect their
belongings in case of catastrophe.
|
| Management Fees : |
| Our monthly management fee is payable when
the rent payment is charged to the tenant. It is automatically deducted
from your account at the time the rent payment is posted. However,
since one of our jobs is keeping your property occupied, we will
not take our management fee as long as your property remains vacant & un-rented. |
| Communications : |
| We believe that communications are the
essential element in the success of our company. That is the underlying
reason for the creation of this "Handbook"
.
cortespatrick will provide a phone number and email
address for your property manager. Your manager spends
a portion of their day out of the office and they will
make every effort to take your calls live or return
calls and emails as quickly as possible. Calls of a
non-emergency nature will be returned as soon as possible
and that is normally within one business day.
|
| Please select from the following list of ways to communicate
with us: |
| 1. |
By Phone @ 305-671-3249 |
| 2. |
By Fax @ 786.272.0454
You can expect that our fax machine is on 24 hours a day, as many
of our clients and property owners live overseas. |
| 3. |
By E-mail: info@cortespatrick.com |
| 4. |
By US Postal Service @ 635 euclid ave
112 miami beach FL 33139 |
|
property
managment