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How Do We Lower Risk For Our Clients and What Warranties Do We Offer?

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Lowering the risk

The question that always comes up is “How do we reduce risk for our clients?”We serve two different groups here at Realty Trust Services, Landlords and Tenants. Landlords often take on a great deal of risk whenever they get a new tenant. We reduce that risk by getting into the following three attributes of good tenants:

1.) Do they make their payments on time?
2.) Do they do their due diligence when making payments?
3.) What is their income?

We could also reduce risk by charging large deposits, but ultimately that doesn’t help when it comes to a new tenant. I can charge a very high deposit or I can charge no deposit with a tenant that I trust. This is part of those CORE values that help us to reduce risk. How do we get there?

Reducing risk through our Core Values

So what do we do to reduce risk for you, our clients? We build a foundation of trust which is at the core of our THREE values:

1.) Transparency. We remain transparent to you throughout the process of managing your property, before we manage it, and in the case you move on from us after we manage your property. We understand that this is an investment for you today and tomorrow.

2.) Empathy. Understanding you. Putting ourselves into your situation and what you want. Empathy is Key to understanding who you are as a client.

3.) Education. We constantly strive for improvement. That means that we are constantly educating ourselves. On a monthly basis we are reading books as a group that will help us with the integral systems that better serve you.

The Warranties that we offer

Our warranties come down to one thing: 100% satisfaction guaranteed. We want you to be satisfied with the services that we offer to you. Our Warranties are:

1.) We start with a 1 Year Management Contract, however you may opt-out at any time with a simple 14 day notice. We only ask that you do so within a 14 days of the end of the month so that when the next billing cycle for your tenant comes the transition is smooth.

2.) A tenant warranty that is pro-rated based on the length of time your tenant lives on the property. Does your tenant live there only six months? Than your charge is 50% of the fee. Does your tenant only live there for three months? Then you pay 25%. It’s that simple.

3.) If we are unable to lease your property we will waive the next management fee under the following two conditions:

A.) 30 days after renovations have been completed or
B.) 30 days after the last tenant vacated the property.

Our 5 Point Service Guarantee

1.) All Correspondence will be responded to within 1 business day from your portfolio manager or Andy himself. If you call us on a Friday we will respond to you by the end of Business on Monday.

2.) Money will be wired to your account on time, every time. We do weekly payments via ACH and bi-monthly payments to owners via check. Guaranteed.

3.) No hidden surcharges. This ties in with one of our core values, Transparency. All of our charges are explained both in your contract and on our Pricing page. We will also send notification of maintenance costs to you.

4.) We offer 24 hour maintenance requests. That includes the ability to reach us at any time within 24 hours including for emergencies.

5.) If it comes down to it we handle the evictions. We will pay for the costs up front and then you can pay us back. We will use the Ohio Revised Code to evict tenants and use the proper methods to evict when absolutely necessary.

If at any time you feel as if though we have not met our 5 Point service guarantee you can simply request a refund on our monthly management fee.

If you want any more information please feel free to contact us in the comments below or by contacting us directly via phone at 440-220-7300

What do you do to lease my house?

We offer a complete marketing program to reduce vacancies.

 

A common question we hear is “what do you do to lease my house?” There are a lot of things we do to market houses, and I could provide you with an extensive list. However, if you want to see what we do to lease houses, go to our website and look up a listing. Then go to Google and search for that property.

You will find the listing is everywhere. We do something with our listings called syndication, which gets it out to 30 to 40 websites right away and it expands from there. We do everything we can to ensure each and every listing is as visible as possible. In addition to syndication, we utilize the MLS listing.

Complete Marketing: We believe in what we call complete marketing. This approach includes pre-market a property if the tenant is still living there, but will be moving. Property marketing includes videos, panoramic images, and 3-D tours. We get as much positive media out there as we can until the property is rented. Approximately 30% of the time, we have the property rented before the previous tenant is moved out. Creating the 3-D tours offers a huge advantage because once created, we can re-use it later during pre-marketing. This can dramatically reduce vacancy times.

We also work to improve our understanding of how people perceive the property. This gives us the opportunity to make the changes needed to make the property more appealing to a broader range of individuals. We are consistently looking at what is and is not working to reduce vacancies and provide better overall service.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money! Call us today at (440) 220-7300 to see how we can help you!

 

Do You Have Hoarders Living in Your Property?

Have you seen the show Hoarders?

It depicts people with compulsive hoarding issues that cause them to collect things…lots of things. Hoarding leads to a home filled with trash and clutter. So much so that rooms get blocked off or it becomes unsafe to navigate the apartment.

Hoarders can also lead to damage to the structure of the building. There can be issues like water leaks that go undetected due to the hoard. Hoarding can also lead to damaged floors and walls. It can lead to bugs or mold, which cause additional damage.

The bottom line is you do not want a hoarder renting one of your properties. It leads to a very expensive move out when the apartment will need emptied, cleaned, and repaired before it can be rented again.

What can you do to prevent a hoarder from damaging your properties?

This one is difficult because you do not know when meeting the perspective tenant that they are hoarders. We work hard to help our landlords avoid having a hoarder take over a property. We do that in two ways.

  1. Careful screening. Screening for hoarding is not as easy as screening for other issues. It is not something that will show up on a credit or criminal background check. What we do is get the contact information for a couple of their previous landlords. While this is not a foolproof approach, it helps in avoiding the situation altogether
  2.  Three-month inspection. Three months gives a new tenant time to get settled in their new home. If there are hoarding issues, they will likely start to show by three months. Identifying the problem early gives us the opportunity to work with the tenant to set cleanliness expectations and to follow-up to ensure the mess is handled.

Again, there is no sure-fire way to avoid having a hoarder damage your property. However, through careful screening and follow-up inspections, you can mitigate the risk and hopefully reduce or eliminate any damage to your property. We freely do this for all the property owners. It is always our goal to provide them with the most stress-free and cost-effective experience possible.

Dealing with a hoarder is a situation where before and after video inspections may become highly critical to establish the extent of the damage caused to the property. Watch for our upcoming post on the value of video inspections.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money! Call us today at (440) 220-7300 to see how we can help you!

Collecting rent….

You have to be careful when it comes to collections.
Yes, as an owner you do have rights. But so do your tenants. And it’s critically important that you know what those rights are— yours and theirs— as spelled out in the Ohio Revised Code, as well as other collections-specific laws.

This is something we make a concentrated effort to keep up with because laws change all the time.  We make sure that all of our employees are keeping up to date in these areas. There are multiple dangers associated with collecting rent on a property.

A local landlord here in Ohio even recently made the news because he carried out what’s called a “non-judicial” eviction. Basically, he went into the house and started evicting his tenants and the tenant told the police that he had no right to go in there. And he didn’t. That’s a criminal act. He actually went to jail for a short time for that.

Which is to say— our job at Realty Trust Services is to collect the money our owners are due… AND keep our owners from going to jail in the process.

One basic rule we try to follow is a process we use to demonstrate to the tenant that we really are serious. We prioritize rent over a lot of other things because a lot of tenants actually have the money, they just have bad money management skills. They get behind and one thing leads to another.

We try to prevent that from happening, but at the same time, we have to balance our collections tactics with a personal touch so that people actually WANT to pay.

It’s very easy to go too far with collections and press people too hard, too many times, which makes them decide not to pay just out of spite.

So we prioritize getting the rent as soon as possible.

Ultimately, that’s a lot more important than being someone’s friend.

Have a great day— be a great landlord.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money!

Call us today at (440) 220-7300 to see how we can help you!

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