Tenant Screening And Placement
As a landlord, we know that one of the most common concerns is the quality of the tenant. We agree that it is critically important to have a qualified and responsible tenant who will keep the property in good condition and make rental payments regularly and on time. Finding these tenants, however, is a very time-consuming and sometimes a difficult task. Advertising, numerous phone calls, showing properties, and tenant screening can take many hours of your valuable time, a cost to you that cannot be replaced.
Gateway Property Management has licensed property managers that are experienced in tenant placement. The following is a brief outline of how our services will locate, qualify, and place quality tenants into your rental property with no inconvenience to you.
Locating Prospective Tenants
The key to quickly locating prospective tenants is maximizing exposure of available properties to potential renters. We accomplish the following:
- Advertising: Available properties are advertised in local and city-wide newspapers reaching renters every week. Our website, www.gatewaypropmgmt.com, is also a widely used source of information for potential renters. Popular rental sites, including Zillow, HotPads and Craigslist, display our property listings, as well.
- Available properties list: Updated and distributed weekly, to our Realtors, these lists have detailed descriptions and addresses of all available properties managed by Gateway Property Management.
- Rental Signs: With your permission, a full sized “For Rent” sign, like those used to market properties for sale, will be posted at the property. These signs are responsible for dozens of property inquiries every week. Most often the callers rent the homes offered by Gateway Property Management.
- Reputation and Referrals: Being the largest property management company in our marketplace, and one of the oldest, we have earned a reputation for excellent service and results in tenant placement. We get many referrals from satisfied tenants. Often our existing tenants use us to locate another property when the one they are in no longer suits their needs.
All of the above combines services generate as many inquiries per day as we have available properties per month! Because we maintain ongoing contact with all of our potential tenants, filling our vacancy could be as easy as a telephone call to someone who is looking for a property like yours.
Our professionals will coordinate all of the appointments for showing your property.
Because of the importance of finding quality tenants, we do tenant screening on all applications received. The following steps are taken to investigate the reliability of any prospective tenant.
- Credit Reports: Independent licensed credit reporting agencies are used on each application.
- Verify Credit History: A credit report is obtained from a national credit bureau on every adult that is applying to occupy the property. This report gives us payment history from creditors and any judgments or court actions filed against the applicant.
- Verify Employment and Income: Contacting employers to verify stable employment history and sufficient income to ensure timely rental payments.
- Interview Current and Past Landlords: Investigating any applicants’ past payment history, property condition, and general references from past landlords.
- Eviction and Criminal Reports: This information is included in all credit report inquiries. When notices of evictions or criminal reports are made, further investigating is completed, giving us a detailed report as to the circumstances involved in each instance.
After collecting all of the data on the prospective tenant, we then consult with you, the property owner, prior to approving them to rent. This allows you some input into the decision and complies with tax codes that state that you must have “an active role in the selection of new tenants” to continue to write off the maximum amount allowed by law.
Once a tenant is approved, Gateway Property Management will:
- Collect all deposits.
- Prepare and execute proper and legal agreements.
- Conduct a written inspection report of the property with the tenant on the day of possession.
- Coordinate the moving in of the tenant. Distribute keys, convert any necessary utilities.
When a tenant moves out, Gateway Property Management will:
- Conduct a move out inspection of the property.
- Conduct a written inspection report of the property with the tenant.
- Coordinate the re-keying of the locks (state law) and any cleaning or maintenance needed.
- Evaluate and disburse any deposit refunds that may be due tenants or owners.
- Most importantly – fill your vacancy with another quality tenant!
Gateway Property Management then becomes the contact for any communication from the tenant, leaving you comfortable with the knowledge that your property and tenants are being cared for by the best property management services available.
Financial Management Services
Gateway Property Management has a staff to provide you with the following services:
All rents, deposits, and late fees are collected and all excess funds are disbursed to the owner or deposited directly into the owners bank account.
Disburse rental income
- Mail check to you.
- Deposit electronically into a checking or savings account.
Accounts payable services:
We offer several accounts payable options as part of our complete management services. We can pay for you, all of the following:
- Mortgage payments
- Property taxes
- Property insurance
- Owner paid utility bills
- All maintenance expenses
- Any other bills as requested by the owne
Full accounting statements:
We provide all property owners with the following information:
- Monthly income and expense statements
- Year-to-date income and expense statements
- Form 1099 and detailed year-end statements for tax preparation
Maintenance Management And The Physical Care Of Your Property
Your rental property is a valuable investment. We recognize this and take every step possible to ensure that your property is cared for to protect both its rental value and future market value. The following are our maintenance management procedures.
Respond to maintenance requests and emergencies promptly.
State law requires that landlords respond to maintenance requests from tenants within a specific time period, as soon as 24 hours in some cases. We guarantee to address any and all maintenance problems well within the legal time lines. We also have an after-hours maintenance telephone number should the situation require immediate attention. Your property is never without management!
Guarantee quality work at competitive prices:
We work with many contractors and vendors, all of whom are licensed and bonded, to handle any maintenance situation that should arise. Most of these contractors bill us on a wholesale basis.
Schedule and coordinate repairs:
With your approval, we schedule the repairs with the vendors and the tenants to ensure that the work is done in a timely efficient and workmanlike manner.
Recommend scheduled and preventive maintenance:
In addition to a complete inspection and condition report before a tenant takes possession, we perform periodic inspections of the property and regular drive-by inspections to verify that the property is being kept in good condition. During these inspections we look for any problem areas that should be addressed to prevent more serious and costly repairs in the future. Our contractors are also instructed to report any potential problems whenever they visit the property.
Owner Statements Available Online
Did you know that you can access your owner statements and financial reports online?
- Concise statements covering the performance of your property for the previous month
- All data on your property is stored in a state-of-the-art data center
- Access information about your property 24/7
- Access information about your property from anywhere with an internet connection
Our Technology Advantage
Our goal is to provide you with the best service and manage your properties efficiently and effectively. Our team has invested in a complete and modern software solution, AppFolio Property Manager. We are excited to share several of the new capabilities and how they will benefit you.
- More effectively market your properties and fill vacancies sooner. AppFolio allows us to quickly advertise vacancies online, posting to our website, and hundreds of other listing sites. Applicants can also apply right from their smartphones.
- Price rentals right for your market and reduce vacancies. AppFolio’s built-in rental comparison tool provides actual rental rates for units similar to yours in the same geographic location. This insight allows us to maximize your revenue and fill vacancies faster.
- Screen for the best residents. Streamlined, built in resident screening includes standard background and credit checks along with past rent payment history. Screens can be completed in minutes - enabling us to place the highest quality residents quickly.
- You will be paid faster and more securely. New functionality provides our team the ability to deposit funds directly into your bank account. No more waiting for a check in the mail.
- Collect rent faster with online payment options. Modern residents expect easy, online payment options. AppFolio gives residents three convenient ways to pay electronically (Cash, E-check, or with a credit card).
- On-demand access to your statements. Owner statements are securely posted to an online Owners Portal, saving time and paper. These simple statements provide you with a quick snapshot of your property details for the past month. We can also include maintenance invoices and additional reports you request.
- Handle property maintenance issues faster. We use AppFolio for electronic work-orders and communication with vendors so we can quickly resolve issues. At your request, we can email you a copy of the work order and relevant information giving you real-time updates.