Our business is to provide our clients with management services that enhance the value of their investment property. That's why property owners throughout the Grundy County area depend on us to help achieve their goals of property performance and profitability. Whether you own apartments, duplexes, or single family homes, our company ensures that your property is well managed and maintained to attract and retain the best tenants, and give you the desired return on your investment.
Consultation: APM personnel meet with the owners to go through the rental properties to be managed. The owner’s standards for tenant applications, leasing, and maintenance are discussed to make certain we are comfortable with the policies and procedures.
Property Evaluation: An inspection of property is done to determine fair market rental value. Plus we are constantly evaluating the rental market to be sure that your units are priced optimally. If rents are too low, there will be an obvious loss of revenue. If rents are too high, units will take a long time to rent, and the revenue lost due to vacancies will negate any gains from the higher rental rates. We will take comparable properties into consideration and suggest a rental rate. We will also evaluate and make recommendations on any upgrades and/or repair work to increase rental rates.
Unit Preparation: Getting your property ready to rent can be quite the task. Our professional maintenance staff will make sure that your units are promptly prepared for new tenants. We will fix Items that need repair, perform upgrades as necessary, and make sure each unit is cleaned and painted so it looks great for your next tenant. We will also inspect the property to make sure it meets all safety codes.
Property Marketing: In addition to placing a sign in the yard, your property will be advertised on our website (APM4rent.com), as well as several other national third party websites. APM advertises on numerous websites daily, including Google, Zillow, Realtor.com, Hot Pads, Trulia, Yahoo, and homes.com. This is the number one method tenants use to find their rental home. We can reach those renters who are moving from other towns and states into the Grundy County area. Our marketing also includes social media, such as Facebook, giving your property the ability to be seen by millions of people. APM also maintains membership in the Multiple Listing Association (MLS) and cooperates with local brokers who may have clients interested in rental units. This gives us access to thousands of prospective tenants and property managers worldwide, which facilitates a tremendous relocation and referral network. Inside and outside photos of your property will be displayed.
Property Showings: Available units are promptly shown to prospective tenants at their convenience.
Applicant Screening: Finding and keeping good tenants is crucial to the financial success of your investment property. All prospective tenants who are 18 years old and over and who will be residing in the rental unit are required to fill out an application. Our application process includes a credit check, a criminal background check, as well as verification of employment/income and residency.
Contract Execution & Tenant Orientation: Once an applicant has been approved through our application process, we secure a written lease agreement, detailing rental amounts, due dates, late fees, rules and policies, security deposit refunds, move-out guidelines, maintenance, etc. A security deposit is collected at the time of lease signing. In addition, each tenant is given an orientation which sets clear expectations of our role and the tenant's responsibilities and helps ensure that the tenants understand the terms of the lease. Lease renewals are sent to tenants at least 60 days before their current leases expire. Under most circumstances, the monthly rent rate is increased at the time of renewal.
Move-In Inspection: Each tenant is given a move-in inspection form to note any repairs or "pre-existing" conditions. This form must be filled out and returned within 3 days of them moving into the rental unit.
Move-Out Inspection: Within 3 days of the tenant moving out, APM will perform a comprehensive inspection to determine any damage that may have occurred while the tenant was residing in the property. Any items beyond normal wear and tear will be deducted from their security deposit.
Security Deposit: Once the final expenses have been reconciled, the balance of the tenant’s security deposit along with an itemized statement of any deductions will be returned to them within 30 days.
Rent Collection: Rents are due on the 1st of each month. Tenants can pay their rent with cash, personal check, money order or certified bank check. Late fees will be assessed starting the 6th day of each month. If rent is not paid in full by the 15th of each month, a 5-day move-out notice will be delivered.
Tenant Relations/Support: All issues, complaints, and questions from tenants are addressed by APM personnel. We utilize property management software to manage our tenants and keep track of tenant payment history, lease details, and work orders.
Maintenance: We are available during normal business hours and offer 24-hour emergency maintenance. APM has several local individuals who handle the majority of our general maintenance, including painting and cleaning. APM also utilizes local licensed, bonded, and insured contractors (i.e. electricians, plumbers, HVAC) when needed. Due to our long-term relationships and the volume of business we provide to these vendors, we are able to negotiate lower service fees. We negotiate contracts for services such as lawn care, garbage, snow removal and other necessary services. Large expenditures or capital improvements will be reviewed with the owner prior to execution.
Financial Reporting: Bank accounts are opened for each individual owner, one for operating, one for security deposits, and an escrow for taxes and insurance, where applicable. Reports and disbursements are sent to each owner on a monthly basis. These monthly reports include a balance sheet showing the balances in your bank accounts and security deposits held, and a profit & loss statement showing the income and expenses for the month with year-to-date totals. A letter describing the highlights of the month may also be included with the monthly reports. Year-end tax reports are sent out by the end of January following the end of the calendar year to aid in the preparation of your personal tax return.
Management Fees: Our management fee is 8% of the total monthly gross rent collected each month (some minimums do apply). Our fee structure provides us with the incentive to turn around vacated properties quickly and to find qualified tenants who are going to pay timely. In addition to the monthly management fee, a one-time start-up fee is charged. The amount of the start-up fee is based on many factors such as the number of properties, the condition of the owner’s records, number of vacant units, and issues with current tenants (i.e. eviction).
I would like the opportunity to sit down with you to discuss any questions you may have regarding our services. I think you would enjoy meeting my staff and getting to more familiar with our management style and processes. Please call Shelly at (815) 942-5848 to arrange for a meeting.