Tri-State Home Group

Summary of Services

 

Products and Services:

Thorough property evaluation: 

  • We will establish your property's fair market rental value and analyze it's position in your area's rental market.
  • We assess each property's condition, make and recommend needed repairs to enhance it's marketability, protect your long-term investment and reduce your exposure to liability.
  • We will also offer suggestions to maximize your property's rental and/or sale value.

Tenant screening and selection: 

  • We conduct thorough screening through credit reports, former landlords and employers.  Past history is verified through credit history, public records for bankruptcies, judgments, liens, and bank references.  Past rental or ownership history is verified as is employment and income information.
  • We have detailed rental application forms that disclose pertinent information on your prospective tenants.
  • We ascribe and adhere to all national, state, and local fair housing policies.
  • We review the lease in detail with the tenants so that they understand every aspect of leasing your property in order to instill confidence in their rental choice.

Legal forms for your protection: 

  • The purpose of legal agreements is to cover important areas and protect all parties involved in leasing property.
  • Our procedures include use of all necessary forms for handling security deposits and legal notifications to tenants.
  • The forms used comply with the California State Department of Real Estate regulations, required disclosures and all relevant tenant/landlord laws.
  • As the laws change, we protect your interest by updating our forms and agreements accordingly.
  • We must have proof of insurance coverage before we can manage your property.

Provision of rent collection services/deposit handling: 

  • All rent is due on the first of each month (and is considered late after the 3rd at 5:00pm).  Three-day notices are sent on the 15th of each month and eviction proceedings in most cases are initiated thereafter unless the tenant has made arrangements for rent payment.  We retain late fees and penalties to help cover the added administrative expense.
  • Your tenants answer to your professional property manager when firmness is required; you are spared uncomfortable confrontations.
  • The security deposit is collected from all tenants for your protection.
  • Your deposits are held in a trust account compliant with the Department of Real Estate regulations.
  • All tenant forfeits and damage claims are in conformance with state security deposit laws.

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 or their employees.
  • Approximately 45 days before a tenant's lease agreement is due to expire, we send a lease renewal notice to you.  Then the tenant is sent notice approximately 35 days before expiration 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 automatically moved to a month-to-month agreement.  At that time they are required to give us 30 days prior written notice of their intent to vacate at any time.  This helps prevent unexpected vacancies and gives us plenty of time to prepare, advertise and show your property.

Accounting services: 

  • We keep accurate files and histories on all tenants and vendors which are retained for five (5) years.
  • Our accounting and record keeping systems are computerized for accuracy and efficiency.  We maintain all your security deposit accounts and records for five (5) years.

Property inspections: 

  • An initial inspection is done with each tenant's move-in and move-out.
  • We have a detailed move-in form they will fill out at the time of final walk-through with the property manager.  Pictures are optional and encouraged.
  • We provide a move-out form that will be carefully examined with the property manager before vacating the unit.

Repair services and maintenance contracting: 

  • We have carefully selected our vendors that can provide you the best possible service.  Any vendor working on your property has proper liability and workers' compensation insurance.  Files are kept in our office with copies of their license and insurance policy.
  • Timely, competent maintenance is one of the keys to maximizing your investment.
  • We ensure the quality of the work performed by making spot checks and follow up calls to the tenant.
  • We handle those "nuisance" calls that come from tenants at all hours.

Management fees: 

  • Our monthly management fee is deducted from your account on the first of each month.  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.

Reserves: 

  • A reserve is kept in your account at all times (i.e. $300 for a single family residence) to cover any emergency expenditures that may arise.