All Forum Posts by: Robert Melcher

We provide copies of the executed leases and account for the deposits in escrow.  We do not release deposits to landlords as in Texas. Accounting rules for property managers are very specific.  We have to have the deposit on hand 30 days prior to a tenant vacating and uncooperative clients put us at legal and financial risk.

what specialization? Management, procurement, single, multi, leasing, wholesale?  It helps to know...

Real estate is one of the last great free-market environments. everything is negotiable, and some providers are better than others, meaning they offer more complete/sophisticated service and response, wider marketing exposure, etc.

I compete routinely against both higher than 5% and lower than 10% management rates and anywhere from one month's rent for a leasing fee, to half that. I like to think we offer a premium service at a healthy discount. I won't share it it (anti-trust concerns) but I'll be happy to make a proposal for anyone doing SFR in one of our cities nationwide.

I can offer a list of services I would expect:

Leasing fee covers:

Pricing

Marketing

Media advertising

Member of Multiple Listing Service  and syndicated to numerous internet marketing tools

Realtor referral network

On-call 24 hours including weekends and holidays

Showing, screening and negotiating

Credit reports

Thorough background checks

Document preparation

Management Fee Covers:

Move-in/move-out coordination

Move-out inspections with digital pictures

Enforcement of lease terms

Tenant public relations

Timely rent collection

Computerized accounting and property management systems

Funds managed by a trust account

Timely disbursement of funds to owner

Monthly statements covering all activity

CPA ready annual consolidated statements

Scheduled property surveys

Maintenance

Property Repair Services

24 hour on-call service for emergency repairs including weekends and holidays

Repair “help line” service at no cost

Reputable maintenance personnel

Volume pricing on supplies and services

Spring A/C service and lawn treatment at owner’s option

Updating, decorating and refurbishing if desired

Installation of security devices (locks, etc) as required by law

Doug, we can't solicit business here.  I can send you a list of services and a contact lead if you PM me.

@Douglas T. We have an office in Chicago, PM me for contact details.  I'll forward your question to the managing Broker.

We have an office in Austin and Multiple properties under management in Plugerville. PM me and I will be happy to introduce you.

That felony drug possession was from the other guy in the car, and we didn't kidnap that girl, she hitched!

I'm confused: why would you return the deposit when purchased?  They have no skin in the game at all.

The PM should have REQUIRED the deposit from you if they have the executed lease, otherwise how can they account for it on move out?

Risk/reward.  Cash flow is higher on the lower rents, but (typically) the quality of tenants is lower.

Appreciation is never guaranteed, but higher end (newer) properties tend to appreciate faster.

What's you tolerance for pain?