Policies
Accounting
We pride ourselves on our thorough, accurate record keeping. Our computer system allows us to provide services that would be difficult or impossible with a conventional manual accounting system. Accounting is done on single-entry cash basis with separate income and expense ledger maintained for each property, just as if your property had its own checking account. Each property always has its own separate complete accounting record. All bills are kept on file throughout the year. We provide you with a copy of each bill with your monthly statement. We will be happy to provide duplicate copies for a nominal fee upon request.
Rent Collection
All rent is due on the 1st of each month and is considered late after the 5th. Late notices are sent on the 6th and eviction proceedings in most cases are initiated by the 10th if the tenant has not made arrangements for rent payment.
Vacancies
Vacancies are expensive for both of us. We make every effort to keep vacancies to a minimum. We have a large network of people looking for rental property for their clients and employees.Our computer system allows us to carefully monitor our lease expiration dates. It gives us the opportunity to renegotiate the rent on a renewal lease. Approximately 75 days before a tenant's lease agreement is due to expire, we send a lease renewal notice if any of the terms of the existing lease are going to change, i.e. rent. If the new lease is declined, the tenant is required to give us 60 days prior written notice of their intent to vacate. This helps prevent unexpected vacancies and gives us plenty of time to prepare, advertise and show your property.If the tenant chooses to vacate, the property must pass a thorough check-out inspection before the deposit is returned. This minimizes the preparation and turn-around time before your property is re-leased. The inspection will not be made until the tenant has removed all furnishings and other personal belongings and turned over the keys. The tenant is not allowed to re-enter the property once the inspection is complete.
Maintenance and Repairs
Timely, competent maintenance is one of the keys to maximizing your investment. Our goal is to provide you with this important service at a reasonable price using only the best people.
Specially trained technicians perform our repair and maintenance services. Each has been selected because of their ability to provide you the best possible service.
Before any repairs or maintenance is performed, the property manager in charge of your property reviews the job request. A work order is generated and the job is assigned. Any work over an agreed upon dollar limit, which is not an emergency or part of a routine turnover would be discussed with you for approval.
Our maintenance technicians will not perform any unauthorized maintenance requests from a tenant. In addition, maintenance and repairs that are the tenant's responsibility, or a repair caused by the tenant's negligence, will be charged to the tenant.
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In addition to your normal homeowner's fire and extended coverage insurance policy, you need to maintain proper liability coverage. The purpose is to provide you coverage now that you have a tenant. If you would like a referral, please let us know.We must have proof of insurance coverage before we can manage your property. We must also be listed as additional insured on your policy so we can keep track of it. There should not be any additional charge to you from your agent for this.
Security Deposits
The amount of the deposit is based on the monthly rental rate and the credit worthiness of the tenant. Applicants with pets are required to pay a non-refundable pet fee.All deposits are kept in a special escrow account, as required by Florida statutes, until they either are refunded to the tenant upon a successful checkout inspection of your property or are forfeited to cover damage caused by lease violations. Pet fees are paid to you with your first monthly payment.
Management Fees
- Our monthly management fee is payable when the rent is received. It is automatically deducted from your account. Since one of our jobs is keeping your property occupied, we will not take our normal management fee as long as your property remains vacant.
- These are some of our basic policies and procedures we have implemented to provide you with proper, professional management of your investment property.
- There are five reasons a property remains occupied: Location, Price, Terms, Condition of the property, and The Property Manager, as your property manager. You control four of these. We are specialists in the management of single family homes and other small residential rental property. Stanley B. Gelman was the first RMP (Resident Management Professional) in the area. You don't have to have a large apartment building to get big time management. The Property Manager is big in small property.
- We are members of the following business and professional organizations:
- The Northeast Florida Association of REALTORS®
- The Northeast Florida Association of Residential Property Managers
- Better Business Bureau (A+ rating)