Our Blog

Property Management

26 Aug
admin 26/08/2016 0

Mission Statement

We intend to provide excellent property management services to each and every one of our clients. Our goal is care for the property in the same manner the owners themselves would, while giving courteous, prompt, professional, and reliable service to both the owners and tenants. Our company will always keep our clients best interest in mind and do our best to keep cost down to increase their return and preserve the equity and integrity of the property. We intend to keep open, prompt, and professional relationships with the tenants in order to provide a comfortable, fair, and safe living environment that benefits both tenants and owners mutually.

Services Covered by Fee

Advertising

We use various media to advertise your property for rent. Free local newspapers, online ads, window signs, local newspapers, Craig’s List and other places of advertisement are used to attract most qualified prospective tenants for your property. In the event a paid add is reported, the property will be billed accordingly.

Tenant Screening

We do our best to make sure that the tenant will take care of your home and pay the rent on time. We screen each prospective tenant prior to occupancy. Not only do we obtain a credit report on each individual, we also check with past landlords and verify employment prior to occupancy. While it’s important for us to keep your property occupied, experience shows that it is more important to be selective in a process of choosing a tenant. In the long run you will benefit because your tenant will most likely stay longer and take better care of your investment.

Move In & Move Out Inspections

Inspections and photos on each unit are done before the new tenants move in. Small repairs that are needed will be noted and will be completed promptly. Also, any existing normal wear and tare is noted. When the tenant moves out another inspection is completed. Any repairs deemed to be the occupant’s responsibility are completed and deducted from the security deposit. The property is then cleaned and painted, if necessary, and made ready for the next renter. All repairs, inspections, contract work and costs will be noted and made available to the owner. Expected turn around time for units will be 3-5 days.

Rents

Rents are due on the first of the month and delinquent after the fifth. We make every reasonable attempt to cooperate with a good occupant, to insure rental payment. Should an occupant become delinquent, our procedure is set by law to collect the rent or to complete the eviction process. Rental rates will be researched on a monthly basis so that the owner has the latest information to make rental decisions.

Deposits

Deposits are to be held in a trust account until the time the tenant moves out. Losness Group will distribute deposits at the end of the tenant term with consideration to fix up costs to re-rent the unit.

Property Inspections

Regular inspections are conducted, if any negligence of the property is noticed tenants will receive a notice of inspection and the interior of the property will be assessed. Tenants will also be given a proper forum to discuss problems within the apartment so that regular issues can be taken care of in a professional and timely manner. If the public areas of the property are in decline, we will inform the owner of any problems and work with the owner to offer solutions.

Repairs

We offer the flexibility of using your choice of professionals or to use our licensed and bonded team selected for responsiveness, quality of work, and cost efficiency. All work orders will be authorized by the client unless otherwise instructed.

Legal

Losness Group Property Management Division will file all appropriate documents to recuperate any lost funds resulting from tenant activities. Please note that the owner will be charged for filing documents, (lawyer documentation, eviction notices, etc.) Losness Group will attend all court hearings for our clients to pursue all legal claims.

Added Value Services

Losness Group Property Management Division will offer its owners a complete financial evaluation of their property every six months.
Professional photography will be taken of your property so that it will always be presented in the best possible light.

Financial Services

We will provide the owner with easy to understand financial statements that will be generated each month for the owner. Our service includes paying the expenses for your property, if you chose to. This can include PG&E payment, Water/Garbage payments, maintenance, homeowner dues and landscaping. These payments are deducted from the rent collected and will be noted on your monthly statement.

Year End Statements and Schedule E

Year end statements and schedule E reports will be generated for the owner for their tax purposes.

Payment of Taxes and Insurance

For owners who have commercial apartments (5 units and above) Losness Group Management Division can pay the taxes and insurance on the property if requested.

For owners of single family residential units, duplex, tri-plex and 4-plexes, Losness Group Property Management Division will not pay for yearly taxes and insurance.

Operational Cost to be Paid by Client

Unit Turnover

Any expense considered “normal wear and tear” will be evaluated, and any fix up costs beyond the tenant responsibilities will be assessed to the owner.

Grounds Keeping

Bi-monthly lawn care, garden care and general upkeep of the property shall be billed to the owner.

Emergency Services

All calls fielded by the manager after normal business hours regarding emergency repairs shall be handled in a timely and professional manner. It should be noted that emergency services typically have a higher fee associated with them and these fees will be noted in the owner’s monthly statement, and shall be billed to the owner as they occur on a monthly basis.

**Losness Group Property Management Division has an emergency number available to your tenants needs 24 hours a day, 365 days a year for all major emergencies.

Renovation

An owner may authorize Losness Group Property Management Division to renovate the property in any manner they feel appropriate. This includes painting, landscaping, roof replacement, larger repairs and unit renovation. Losness Group Property Management Division will perform these tasks at competitive rates with professional and quality workmanship.
Legal Costs

Any cost associated with hiring legal council, legal costs, filing fees or court fees and settlements will be the responsibility of the owner and will be paid out of gross collected rents as operational expenses.

Fix Up Costs

Losness Group Property Management Division is affiliated with many local contractors and businesses and can provide owners with competitive choices for any work that needs to be performed. The owner will be charged for these expenses as they occur.

Renovation Capabilities

Losness Group Property Management Division will cause the following services for unit renovation: Material disposal, preparation work, texture, paint, bathroom remodel (full or part), kitchen remodel (full or part), floor replacement, baseboards, fixtures, outlets, doors, section 1 and 2 work, part replacement (doorknobs, locks, hinges, handles), rug replacement, limited electrical work, popcorn removal and repair, appliance replacement, thermostat replacement, blind replacement, window replacement and hole repairs.

Inside Units

Losness Group Property Management Division will cause the following services for unit renovation: Material disposal, preparation work, texture, paint, bathroom remodel (full or part), kitchen remodel (full or part), floor replacement, baseboards, fixtures, outlets, doors, section 1 and 2 work, part replacement (doorknobs, locks, hinges, handles), rug replacement, limited electrical work, popcorn removal and repair, appliance replacement, thermostat replacement, blind replacement, window replacement and hole repairs.

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Outside of Property

Losness Group will cause the following services for outside renovation: Material disposal, preparation work, spackling, paint, landscape, roof replacement and repair, windows, section 1 and 2 work, sanding, power spray of property, gutter repair and replacement, railing repair, light replacement and repair, motion detector installation.

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