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FIRST STEPS: PRE-RENTAL
PREPARE THE PROPERTY AND BALANCE THE BUDGET
We strongly believe that you should turn the property over to the tenants at the beginning of the lease in the condition that you want it returned in when they leave. We have created a proprietary Condition Checklist that goes through the property room by room, noting the condition from the ceilings to the floors. A copy is given to the tenant and they agree to return the property in the same condition or risk forfeiting a portion of their security deposit.
We will take care of all cleaning, painting, and maintenance. We do a thorough walk-through to make sure there are no potential safety issues that may expose you to risk.
Advertise the property for rent on real-estate broker exclusive website such as realtor.com, mls.com, zillow.com, trulia.com and more!
Secure a qualified tenant by verifying all references, income, creditworthiness, and perform background checks. Verify employment history and income, previous landlord references, and any other checks as requested by the landlord.
Draft least and sign with tenants, add all required addendums or property-specific provisions as instructed by the owner or required by HOA.
Maximize your income by carefully analyzing your monthly cashflow. This may involve increasing rents according to fair market value, seeing what expenses you can cut down on, and more.
Many factors go into creating a budget including: the type of property you own, age of the property, number of tenants, possible risks, and always— a comprehensive preventative maintenance plan. We try to spread out preventative maintenance and will work together to create a prioritized plan.
RECURRING MONTHLY SERVICES
Monthly rent collection via direct deposit or automatic electronic transfer to ensure a timely monthly payment from the tenant.
Pursue delinquencies accordingly; rent payment demand letters, evictions, facilitating any legal processes, if required.
Pay municipal bills such as the water & sewer bill, property taxes, etc.Pay any common electric, gas or other utility bills.
Pay insurance premiums, mortgage, condo fees, etc.
Ensure the tenants have established utility accounts with EverSource or National Grid and that they are keeping them in good standing.
Prepare a detailed monthly financial statement that breaks down the gross income vs. net income, expenses, accounts payable, and all other items listed here.
Record any important communication with the tenants, any memos sent, communication with the HOA property manager or any other form of communication that is important for you as the owner to know.
PROPERTY MAINTENANCE SERVICES
REGULAR PROPERTY MAINTENANCE
Preventative maintenance—establish annual pest mitigation plans, prioritize capital improvement projects, establish service contracts for fuel-burning boilers, HVAC heating and cooling service contracts, etc. Preventative maintenance contracts are established on an as-needed basis
Lawn care and snow removal coordination
Common area maintenance
Bi-weekly inspections of the exterior and common areas, interior inspections of individual units are performed on an as-needed basis, but at least once a year
Obtain several quotes and bids for work to ensure the best price.
Supervise all work from start to finish. Update you with photos of all ongoing work.
Help you consider any major renovations that may increase rents and perform cost-benefit analysis prior to the commencement of any work
AS NEEDED & UPON REQUEST
Handle all move-ins and move-outs.
Perform inspection of the premises after a tenant has moved out, refund the security deposit, if applicable.
Schedule and coordinate cleaning, painting, and anything else that may be needed in between tenants (pre-rental maintenance cycle).
Assist you with the process of placing tenants’ security deposit in an interest-bearing escrow account in accordance with MA law.
Return security deposits to tenants upon vacating; account for earned interest and deductions, if any.
Advise you on the eviction process and send the tenant any violation notices (Please note- any eviction that is filed in court will require a qualified real estate attorney, violation notices and rent payment demand letters may be written by the property manager).
Work with the Town municipality in regards to any certifications, inspections, violations, complaints, fines, or notice. Correct any issues in order to prevent any further incidents.