Management Policies and Procedures

This page explains the policies and procedures we implement to protect your property investment and to provide you with the very best of service.

Mortgage Payments

If you wish, we will make the mortgage payment on your property for you. This is contingent upon the tenant's rent payment. Simply provide us with the necessary mortgage payment card or coupons provided by your mortgage company. Payments will be deducted from your account balance automatically by the 10th of the month.

Accounting Services

Every transaction affecting your account balance is recorded and explained in detail. In addition to the monthly statements, we also provide a complete account summary at the end of the year. These statements are specifically designed to simplify the year-end tax preparation job for you or your accountant.

Rent Collection

All rent is due on the first of each month and is considered late if received after the fifth of the month. Late notices are sent out on the eighth and eviction proceedings are initiated if the tenant does not make arrangements for payment of rent.

Management Fee

We charge all new owners a one-time set-up fee of $50.00. Our monthly management fee of 10% is payable when the rent payment is received. It is automatically deducted from your account at the time the rent payment is posted. However, since one of our jobs is keeping your property occupied, we will not take our management fee as long as your property is vacant.

Vacancies

Vacancies are expensive for both of us. We make every effort to keep our vacancies to a minimum. Our computer system enables us to monitor our rent expiration dates carefully.

Property Inspection

Our main job is to protect your investment property. We do this in two different ways. First, we make frequent drive-by tours of the properties we manage. It is stated in the tenant’s rental agreement that we have the right to make routine announced inspections. Tenants are always notified of an impending property inspection. We compare for discrepancies, missing items, and additional damages. At the same time, we check for preventative maintenance items that are owner responsibilities.

Repair and Maintenance Services

Timely and competent maintenance is the key to protecting your investment. Our goal is to provide you with this important service at a reasonable price using only qualified personnel. Independent, outside vendors and contractors, not company employees, perform all repair and maintenance services. Each has been selected because of their ability to provide the best possible service. Emergency service will never be delayed due to lack of funds. You reserve the right to schedule and control any part of repair and maintenance responsibilities. Routine repair and maintenance will be performed as needed and will be based on urgency and importance. For any major job, we will obtain written estimates and present them to you before we proceed. You are further protected because each job is fully documented in writing and backed with receipts.

Leasing

We want good tenants just as much as you do. We pride ourselves in the quality of tenants we are able to attract. Our extensive tenant screening and lease procedures help to ensure this.

Applicants are required to complete a rental application and to provide credit information and references. A credit check on prospective tenants is completed with each application. In addition, we report any delinquencies to the bureau. This has proven to be extremely effective in stopping late rents.

Once a tenant's rental application has been approved, appointments are made with the property manager to sign the rental agreement. We have found that this additional personal attention to the tenant greatly reduces misunderstandings and eliminates potential problems. This also gives us a chance to answer any questions and to carefully explain the tenant’s responsibilities.

Security Deposit

For additional protection, appropriate security deposits are always collected at the time of the signing of the rental agreement. The amount of the security deposit is an amount equal to the rent amount. This is not to be used as a last months rent.

All deposits are maintained in a trust account as required by the state real estate regulations until they are either refunded to the tenant upon successful completion of their rental agreement, or are forfeited to cover damages caused by lease violations. This trust account is interest bearing with all interest paid directly to the Oregon state housing fund.

Cleaning Policy

At the initial takeover of any new property, it will be required that all necessary repairs are completed and the house be thoroughly cleaned, including carpet cleaning by a professional carpet service. At the time when a tenant vacates, they will be expected to leave the unit in the same condition or better condition, including professionally cleaned carpets.