As a Property Manager, IPS is the agent for the landlord or property owner. We oversee the preparation of properties for rent, the inspection of properties before, during, and after a lease term, as well as the marketing of vacant homes and the placement of tenants when needed. The job of a property manager is broad and includes showing properties to potential tenants, screening applicants, verifying income and rental history, and coordinating lease signings and lease renewals. Once a tenant is in, the job does not stop there. We process and oversee regular maintenance, inspect completed work, pay invoices on behalf of the owner, document receipts and expenses, and provide monthly and annual accounting statements. The role of a property manager is extensive and requires a detailed and dedicated team of professionals to ensure that a property and its tenants are taken care of for the property owner.
Our leasing team inspects the property to ensure it is ready for showings and it’s looking its best. We then take high resolution, wide angle pictures that are well lit to ensure the property is presented well online and other media outlets. Our properties are marketed on large networks of rent and real estate websites such as the MLS, Zillow.com, Trulia.com, Hotpads.com, Reatlor.com, social media outlets, etc... making a total of approximately 40 different web sites. And, of course, a street sign is placed on the property to attract any drive by prospects.
Communication is vital and is one of the biggest landlord complaints about a property manager. We know that this is common in our industry, so we do everything possible to communicate effectively. While your property is vacant, our leasing team will email you weekly with an update on the number of showings, phone calls, emails, and applications being processed. We fully understand that when a home is vacant it is stressful for a property owner; there is no rent coming in and there is often a mortgage to be paid. We want our owners to know what we are doing and how things are progressing. Our weekly vacancy report has become a very effective method for ensuring great communication.
We take a much more detailed approach to qualifying tenants than most management companies do. We use a score-card method that analyzes prospects’ credit score, rent to income ratio, debt to income ratio, eviction history and criminal history. In addition to this, we also verify the prospects income and previous rental history. You will commonly find property managers only looking for “Income of 3x the rental rate and credit scores above XYZ.” We feel this is not a complete picture of a tenant and quality tenants can be the difference between a profitable rental home and a money pit for a landlord. We have found a detailed examination into the finances of a tenant is critical.
There are several different types of inspections we conduct. Our move-in and move-out inspections include a 30-second video recording of every room as well as pictures of damaged areas or areas of wear and tear. We are then able to compare in detail any damage disputes. During our periodic in-home inspections, we again take video and pictures to ensure the home is in good order. Many of our plans include drive by inspections where we check on the exterior of the property and yard condition. All inspections are published to the Owner Portal for the owner to review at anytime.
We will contact you monthly, unless you prefer more frequent contact. Additionally, we will also contact you in regards to repair requests and work orders to ensure there is not a single surprise bill. If you have further questions, we have a full-time Office Manager on staff that can answer most of your questions and can also get you in touch with our leasing team, maintenance manager or broker.
We Do! We have a rotating schedule that ensure one of our employees is on call 24/7/365. We are always available no matter the day or time.
If a repair exceeds your Minimum Reserve Balance in your account then you will need to make an owner contribution through your owner portal. Please remember you must have your bank information entered into your portal before you will have the option to make a payment online. Unfortunately, we do not take credit cards.
Our different service packages provide different amounts and types of inspection. The first inspection is always the in-home move in inspection that details every room with pictures and video. The second inspection will be a drive-by inspection that examines the exterior conduction of the home and the yard. Depending on your service package we will be doing additional in-home inspections that examines the interior of the home. We look to see if the AC filter is being changed, unauthorized pets are not on the premises and that there is no new damage to the property. The final inspection will be either a move-out or a lease renewal inspection. This final inspection is just as detailed as the first with pictures and video of every room. You can access photos and videos from each inspection on your owner’s portal under the documents tab.
If your “guy” is licensed and insured they can complete a vendor packet and be added to our list of vendors. We only allow licensed and insured contractors to work on properties we manage. This is for your protection as well as ours.
This is your money that we keep in escrow for your portfolio. This is basically like a minimum balance your bank would charge you on your savings account. To keep your account open you have to have a certain amount of money in the account. This money gives us working capital to cover expenses should they come up.
Rent is due on the 1st of the month and late on the 4th. Once rent is collected, your account is then reconciled to reflect your rent income and any expenses incurred that month. Your monthly statement is then generated and can be viewed on your owner portal. Additionally, your payment and statement will be sent out on the 10th of each month (or the next business day when the 10th is a holiday or weekend).