Thank you for working with The Fleetham Group…Your Full Service Property Management Company ~ Filling the Gap Between Owners & Tenants ~ ! In order to familiarize yourself with our business structure and processes, we’ve outlined the following steps and attached the respective forms as highlighted, below, by page number in parentheses:
A. AGREEMENT: Congratulations! By signing this Lease Management Agreement (P.1-11), you’ve officially taken the first step towards renting your property! At this time, it’s imperative you understand the importance of obtaining the correct type of insurance (P.12) as well as your tax benefit or burden(P.13).
B. ADVERTISING: We have yet to meet a property we can’t rent! By actively marketing your property on a myriad of websites (P.14), we’re blessed to brag of our 100% success rate!
C. APPLICATION: We partner with AppFolio (http://www.appfolio.com) who performs all of our background/credit reports (P.15). Because of their dedication to thoroughly investigating your applicants, we’re able to help you make an informed decision on whether to accept or deny any prospective tenant.
D. ACCEPTANCE: Once you’ve decided to accept your applicant, we will draft a Lease Agreement for your Tenant(s) to sign. Upon retrieving their signature(s), we will then countersign, on your behalf, and forward a copy to you, for your files. The Tenant(s) will provide their security deposit, at this time, as well, to secure the property.
E. INSPECTION: Now that your property is rented, we must ensure your property is up to code and meets your City and/or Local rental licensing rules, regulations, and/or ordinances. Given not every city mandates a rental license, we will investigate to confirm whether, or not, a rental license is necessary. If it is – we will file, on your behalf, and deduct the respective fee from your first month’s rent. If it is not – we will still proceed as if a rental license is necessary; however, without the respective filing/fee, by following the City of Minneapolis Rental Licensing Regulations. Although we understand your rental property may not be located within the City of Minneapolis, we believe they have the best outline of what’s necessary to ensure your home is a safe-haven and not a liability-trap! We expect you will work with us to guarantee your property will, indeed, be rental-ready, and perform any/all repairs/maintenance, etc., to certify such rental-readiness. NOTE: We do come equipped with a database of licensed contractors, to whom we can refer, if necessary.
F. OCCUPANCY: It’s time for us to move-in your Tenant(s)! Happy Day! Prior to providing them with the keys, we ensure they are properly insured and utilities are in their name(s). Once that is settled, we then conduct a Pre-Occupancy Inspection, supplemented with video, to educate them about the property. This, simultaneously, allows us to develop a relationship with them that sets the tone for a successful owner-tenant-management association!
G. MANAGE:Now that all are nestled into their new home, we begin our management process! The first month’s rent has been received and it is time for us to process your Financials (P.16). We highly recommend you enroll in Direct Deposit (P.17), which enables us to auto-deposit rents into your bank account by the 5th of each month, unless the 5th lies on a weekend or Holiday, which delays your deposit to the next business day. We utilize an online filing system, of which allows us to immediate generate an electronic financial statement, upon payment initiation, e-mailed to you on the day of your deposit, so that you may reconcile accordingly.
H. UTILITIES/UPKEEP/OTHER:As time passes, we ensure the tenants are up-keeping your property, paying their utilities, and all other necessary items of business to ensure a successful rental! Action is taken if not. Please know, unless there is a major issue, we will not contact you, rather just cure the situation and monitor it accordingly.
I. MAINTENANCE: Upon encountering a maintenance issue, we work with the tenants to resolve. If unsuccessful, we’ll alert our handyman to investigate the problem, and/or other contractor, depending on whether the issue is: electric, plumbing, etc. Unless the repair expense exceeds our Lease Management Agreement threshold, you will not be contacted, unless you request otherwise, and expenses will be deducted from rents the following month.
J. YEAR-END: Once December 31st arrives, it’s time to buckle-down and tend to taxes. We complete all local, state, and federal requirements by completing your 1099 and your tenants CRP. All forms are mailed on, or before, January 31st. Due to this requirement, it’s necessary you complete the W-9 (P.18) within your Lease Management Agreement.
K-Z. REPEAT: Time to do it all over again – Lease Renewal Agreements, Inspections, and More! Let’s discuss!
Thank you for your interest in learning more about our services. Although we attempt to be thorough in our details and explanations, we understand we may have missed something; therefore, please contact Kelli @ 612.290.6107 or firstname.lastname@example.org with additional comments, questions, and/or concerns.