MAINTENANCE COORDINATION SERVICE:
Realty Asset Management, Inc. has years of experience in cultivated working relationships with an extensive list of local contractors, repair service providers and materials suppliers. We require contractors to be licensed for their specialty trade as required by the state and require that contractors provide proof of insurance prior to starting a working relationship through our firm.
- We have 24 hour emergency service call availability 365 days a year
- Full time in-house staff that coordinates repairs on our managed properties.
- We do not charge any surcharges on the contractor billings or mark-ups on materials for repairs to your property. What the contractor or supplier charges is what you pay
- Comprehensive tenant move-in and move-out inspections are scheduled and documentation processed through our maintenance coordinator's department.
- We prepare any necessary IRS forms such as 1099-Misc for any qualified vendors.
- We coordinate with your insurance company, you and your tenant if your property is involved in a damage claim issue. We have the experience with local trades that they often times call upon us for assistance on.
- We maintain a comprehensive computerized database on your property repair history
Having just one single residential rental property is like opening up and operating a new business. After you get an understanding of Virginia’s specialized Landlord-Tenant Laws you begin to tend to the tasks of opening, maintaining and reconciling multiple escrow bank accounts, trips to the bank making deposits, communication with banks, tenants and contractors to sort out their accounts when questions on payments or receipts are raised (often times it's like playing phone tag), organizing contracts, receipts and invoices for compiling when tax time comes around, determination if interest is due a tenant on their security deposit and making those calculations, and more. Just look at the time you spend running your own household then throw a tenant in the mix and you can see why many of our clients believe this administrative function is a valued part of the professional management service we provide.
- We utilize a specialized database and accounting computer program to generate financial statement reporting to Owners on a monthly schedule. We also provide annual income statements and IRS 1099-misc reporting forms.
- We have ready access to the multitude of forms and documents needed to efficiently and effectively perform the day to day tasks of this specialized business service. Many that has undergone legal review at our expense.
- Physical, on-site property inspections
- Rent collection, banking and proper maintenance of Tenants security deposits.
- We use FDIC insured banks in Virginia for all our Owner and Tenant escrow accounts.
- Vendor and subcontract service coordination for repair, replacement & maintenance of property.
- Bookkeeping and record storage for income and expense accounting on the property.
- Multiple On-Site and Off-Site security and data backup systems in place.
- We strive to maintain a comprehensive database of contact phone numbers, mailing addresses and e-mail addresses so we can be responsive with owner, supplier, vendor and tenant communications.
- Lease administration to address compliance issues of the Tenant.
- Coordination with you, the Courts, Attorneys, Sheriff Dept. and others should legal action become necessary involving an eviction.
Performance of a comprehensive tenant qualification and background screening review is a critical component of managing and leasing property. We strive to be as thorough as possible by checking references, utilizing background research tools and utilizing specialized service providers that help to identify issues that may give one pause before allowing a prospective tenant a right of possession of your property. Avoiding undesirable tenants saves you and us time, stress and expense. We believe our efforts here are conscientious and comprehensive. We invite your comparison of our service here with others in our industry; we want you to feel comfortable about the qualifications of who will be living in your property. Below are some of the tasks we perform directly or through a service provider in the tenant screening process.
- We run a computerized credit report from a major national credit bureau service provider.
- We have policies in place that require presentation of proper identification by applicants
- We check criminal backgrounds where such information is made available by the state or their courts.
- We check for sexual predator convictions
- We check the Federal Homeland Security terror watch list (OFAC)
- We use a comprehensive rental application form to collect data on the rental applicant
- We perform employment, income and landlord reference checks
- We advocate, support and train our staff in an effort to be in compliance with all fair housing laws.
Realty Asset Management, Inc is a licensed Real Estate Brokerage firm in the Commonwealth of Virginia. Staff members attend frequent training programs, Fair Housing classes, trade association programs and more to stay educated on latest issues and tools impacting our ever changing property management industry. In addition to the day-to-day property management services we offer leasing services as well as property sales and acquisition services to our investor clients.
- Coordinate Lease and sales contract negotiations
- Research marketplace data for pricing evaluation/marketing analysis of your property
- Realtor® - managed accounts supervised by a licensed real estate broker
- Leasing, Sales, and Marketing forms & document preparation
- Extensive marketing of your property (see FAQ on Advertising & Marketing)
- Experience with single and multi-family homes, apartments, condos, and townhomes
Our Professional Property Management and Leasing is a fee for service business. Every property and every property owner are unique. To that end we discuss our services and fees in a private one-on-one discussion with our prospective client. Once you have and understanding of our services and we of your property and the services we will be engaged to perform the fee for service will be clearly defined.
- Full service and customized service programs available
- Multiple property discounts
- Fees are clearly defined in writing