Bay Capital Real Estate has been involved in property management since the 1960’s. We specialize in the management of apartment buildings and single-family homes in San Mateo County and Alameda County. We charge between 4 – 7% of gross rent depending on the number of units with a $1,000 initial lease fee. Below is a list of services used to manage each property:
Set the market price and choose the best tenant
- Perform a detailed market analysis on the property present a recommended rental rate.
- Document all interior and exterior amenities and take 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 ads tailored to the property and present to owner for approval.
- Provide a 24-hour 800 umber 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 throughout the week and weekend.
- Provide prospective tenants with rental applications that are legally compliant with fair housing laws.
- 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 tenant and execute the Move-in, Move-out disclosure.
- Collect first months 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 tenants possessions from 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, and Remodeling
- 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.