What needs to be done to prepare a property for rent?
The property should be presented in the best possible condition to attract the highest quality tenant. The tenants are required to leave the property in the condition they received it, normal wear and tear excepted, so it makes sense to start with it in top condition. Classic Property Management, Inc. can help you with property preparation and will also be responsible for putting it back into that condition when the tenant leaves and charging the tenant as appropriate. All debris and personal belonging, including washer, dryer, and lawnmower, should be removed. Neutral window coverings should remain.
As tenants are required to maintain the yard in the condition provided to them at move in, the yard should be freshly mowed, weeded, trimmed and leaves and debris removed. Shrubs and flower beds should be cleaned out. Owners cannot expect tenants to absorb cost of chemical treatments, verticut, or seeding.
Your home will immediately be added to our "Rental Availability" list. This list is updated weekly and is distributed to all prospective tenants. It is also available on our web site.
Your home will have an information sheet designed that will list all pertinent information and will have digital photos of the property.
Your home will be assigned a special voice mail box that will repeat all of the information given on the Property Information Sheet and is available 24 hours a day.
Your home will be advertised and posted on numerous websites.
Statistics indicate that 75% of renters of single family homes own pets, a smaller amount in duplexes or apartments. Restricting pets may reduce the number of qualified applicants. It is often preferable to consider allowing pets with an additional refundable deposit in the amount of $250.00 plus $20.00 per month per pet. If you allow pets the tenants will sign a special addendum stating their obligations which includes treatment for fleas upon termination at the tenant's expense.
It is common to restrict smoking inside the property. This does not significantly reduce the marketability of the property.
Is first and last month's rent collected at move in?
It is generally preferable to collect a refundable security deposit. Our normal policy is to collect $100.00 more than the monthly rental rate; however, if a tenant is marginal we can collect up to two times the monthly rental rate. The security deposit is held by Classic Property Management, Inc. in the Client Trust Account.
What happens if the tenant does not pay rent on time?
The rent is generally due on the first of each month and is considered late if not postmarked by the third. At that point a '3 day, pay or quit' is mailed excluding week-ends and holidays. If tenants have not paid by the end of the notice period, appropriate action is taken as directed by the owner.
You can customize how repairs on your property will be handled. Choices include to call you with all repairs, to call you with repairs over a certain amount or to call a particular vendor on your behalf. You're the boss!
We have competent repair vendors to handle any problem that may arise.
What happens if the tenant leaves before the end of the lease?
The tenant is responsible for the rent for the term of the lease. If tenants choose to leave prior to the termination date, they will be charged rent until the end of their lease or until the property is re-rented to persons acceptable under the original terms and conditions, whichever comes first. They are also responsible for the expense of re-renting the property, the lease fee, the advertising costs, utilities, screening, expenses, etc.
The owner and agent are responsible to attempt to re-rent the property as soon as possible in order to minimize the tenant's costs.
How is the owner protected if the tenant damages the property?
The refundable security deposit taken at move-in is usually sufficient to handle the minor damages and necessary cleaning. Tenants with excellent credit and references seldom cause significant damage and rarely in excess of the security deposit.
Should the tenants leave the property owing more than is covered by the security deposit, they will be billed. If they do not pay, the matter may be turned over to a collection agency.
