Property Management


 

Bay Capital Real Estate has been involved in property management since 1965 and specialize in the management of apartment buildings and single-family homes in San Mateo, Santa Clara, and Santa Cruz Counties.  We charge 5% for a management fee based on gross rent collected and $1,000 for the initial lease fee.   Below is a list of services we offer:

MARKETING & TENANT SELECTION

• Perform a detailed market analysis on the property to determine highest possible rental rate.
• Document all interior and exterior amenities and take 20-25 pictures.
• Offer recommendations on repairs and aesthetic improvements to maximize monthly rent.
• Discuss with owners the pros and cons of different lease terms to maximize property ROI.
• Prepare unit for rent by managing the interior and exterior cleaning.
• Create internet and print marketing ads to maximize the exposure of the unit.
• Provide a 24-hour 1-800 number to all prospective tenants so they can listen to a 30 second commercial on the property.
• Manage all incoming calls from prospective tenants and schedule showing appointments.
• Meet prospective tenants for showings 7 days a week.
• Perform a comprehensive background check to verify identity, income, credit history, rental history, etc.
• Present to owners the recommended tenant based on pre-defined tenant criteria.
• Manage lease agreement negotiations between tenant and owners.
• Supply all required disclosure documents.
• Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance
• Perform detailed move in inspection with each tenant and execute the Move-in, Move-out disclosure.
• Collect the first month’s rent and security deposit

RENT COLLECTION

• We use the Buildium Property Management software to electronically pull tenant rents and make owner disbursements within 3 days of the first day of each month.
• Sending out pay or quit notices
• Enforcing late fees

EVICTIONS

• Manage all required documents to initiate and complete an unlawful detainer action.
• Coordinating with local authorities to remove tenant and tenant’s possessions from the unit.

LEGAL

• Refer local legal groups in the event of a legal dispute or litigation.
• Understand and abide by the latest local, state and federal legislation that apply to renting and maintaining rental properties.

INSPECTIONS

• Perform periodic inspections (Inside and outside) every 6 months to identify required repairs, safety hazards, code violations, lease violations, etc.
• Send owner periodic reports on the condition of the property.

FINANCIAL

• Provide detailed financial accounting on each rental property.
• Track all expense documentation via invoices and receipts.
• Maintain all records (invoices, leases, inspection reports, warranties, etc.).
• Provide annual reporting, structured for tax purposes as well as required tax documents including a 1099 form.
• Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses.

MAINTENANCE & REPAIRS

• Manage our maintenance crew.
• Establish a preventative maintenance policy to identify and deal with repair needs.
• Provide an network of licensed, bonded and fully insured contractors who have been vetted for good pricing and good work that is up to code

TENANT MOVE-OUT

• Inspect unit and fill out a report on the property’s condition when the client moves out.
• Provide tenant with a copy as well as estimated damages.
• Return the balance of the security deposit to the tenant.
• Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in owner reserves for repairs.
• Clean unit and perform and needed repairs or upgrades.
• Re-key the locks.
• Put the property back on the market for rent.
This isn’t intended to be a comprehensive list of property management services, but it should give you a fair idea of the scope of a property management company’s activities.