David Moudy

I am owner of Moudy & Co. Property Management and Realtor with Keller Williams For the 20 Q's about property management: 1) What are the various services that you offer to your clients?       We offer full service property management - including, but not limited to, tenant placement, property marketing, payment collection, owner disbursements, owner reporting, online access to owners for their all of their properties, ease of access to view all of your leases with online payments, as well as multiple maintenance and repair crews. We also have a top 1% sales team in Indianapolis who can help if you are looking to grow your portfolio here in Indianapolis or exchange out your investments, whether through 1031 or liquidation 2) How many rental units do you manage? Currently we are at 150 doors and growing rapidly. Our sales team was the first portion of our business that we established. We had multiple clients reach out to us asking if we would open doors into property management because they liked working with us so much through the sales process. 3) What experience does your company owner have in managing rentals? Through recruiting efforts we have brought on team members who bring talent in the property management side of the business. While the company is new, the staff we have in place has over 20 years of experience working with all types of property, from single family to multi-family to commercial 4) How do you determine rent amount? This is a trick question - We don't determine the rent amount; the market determines the rent amount. We take data from various sources including the BLC, Zillow, and other properties in our portfolio. We first look at going rate for the number of bedrooms and number of baths, followed by price per square foot lease rate. We take into account details such as upgrades to the property as well as amenities. We will give your our conservative number and stretch number.   We don't want to sell you a pipe dream and then have your property sitting vacant.  5) Are you currently an active real estate investor in your market? I am currently a real estate investor in the market - I personally own rental properties in Indianapolis. I work with other investors and am very frequently running numbers on acquisitions into their portfolios. 6) Under what conditions can I cancel my management contract? The property management in place can be canceled at anytime and for any reason. While we don't want to lose your business, we feel very strongly that your business is earned, not contractually kept.  7) What are the management fees and/or pricing options when the property is being rented? We work for a win/win wherein we do not have incentive to place bad tenants in our fees and structures. They are as follows: 9% month base PM fee (as we perform better based on occupancy rate. The maximum percentage is 11% for above 95% occupancy) - reconciled quarterly  $150 for listing - covers photos, signage and listing. If we relist the property, the listing photos will be reused and the price will be reduced to $50. Maintenance is at cost - all invoices will be attached to the property for easy viewing, giving you total access should you need to verify maintenance done. $75 dollar late fee - split equally if tenant is late. There is a 6 day grace period and on the 7th day it is officially late. The late fee will be removed if tenant makes the account current AND pays the following month in full by the 20th of same month. We do this because we want to keep tenants in place that are behind. 10% FMR tenant placement if placed by in-house agent 20% FMR tenant placement if place by any other agent 8) Are there fees when the property has no tenants? You will either need to winterize property or keep utilities on if vacant. We will maintain exterior of property at agreed upon price.  No additional fees will be charged.   9) What miscellaneous fees could I be charged for the management of my property? A vacant property will need to be either winterized or the utilities will need to remain active from October through March. From April through September, the utilities must remain active. All units will have their heating and cooling systems cleaned and inspected annually. This is not something you have to schedule, but you will be notified ahead of time, then billed accordingly. For a single-family home, the lawn is expected to be maintained by the tenant. A vacant single-family unit will have lawn care provided by our maintenance team from April through September at cost, and you will be billed accordingly. In a multi-family unit, our maintenance team will provide lawn care from April through September at cost, and you will be billed accordingly.  Septic tanks are to be emptied by the owner as needed.  Fireplaces will be inspected and cleaned annually by our maintenance team, and the owner will be billed at cost. Interior and exterior inspections will be conducted twice per year at a cost of $75.00 per inspection. This is not applicable to homes under a warranty program. 10) Do I have to sell my property with you if I want to list it? While you do not have to sell your property with our company, we would like an opportunity to interview for the job. Our sales team operates separately from our property management company and are in the top 1% of all Indianapolis agents. 11) Do you offer direct deposit for your owners? We offer direct deposit, Chase QuickPay, Paypal, and snail mail checks. 12) How do you collect rent from tenants? We offer E-check, card, money orders, check, Chase QuickPay, and Paypal. 13) Do you conduct property inspections and, if you do, what charge is associated with them? Interior and exterior inspections will be conducted twice per year at a cost of $75.00 per inspection. This is not applicable to homes under a warranty program. 14) Do you offer eviction warranty (also called a “screening guarantee”? If a tenant is evicted for any reason, or leaves before the end of their first active 1-year lease agreement, we will find a replacement tenant for free. In the event that a tenant needs to be evicted, we will provide you with up to $1000 in eviction services and fees. We initiate the legal steps necessary to collect rents and/or evict the tenant. We handle all the details - notices, filings, new locks, Sheriff’s escort, moving out, etc. This warranty will not be included if you bring tenants with your property. 15) What steps do you take to market properties? We hire professional photographers to photograph the entirety of the property.  An example of recent listing we did is at: https://www.zillow.com/homes/for_sale/1218526_zpid/39.818755,-85.986214,39.708177,-86.17075_rect/12_zm/1_fr/?view=public It is no longer active because we have since placed a tenant, but it will give you an idea of the quality of our listing photos. Another example of photos from photographer that we use is at: https://www.dropbox.com/sh/2zl1zwqfas4hxoj/AAC11GzbMQ6VX7ARuZpHA_4Ea?dl=0  We place a professional T-Post sign in the yard and the number that is posted rings to all of our agents' cellphones simultaneously so we never miss a lead on your rental. We post to the BLC, Zillow, Trulia, Apartments.com, and over 200 other websites. We have a robust CRM that ensures we have an up-to-date list of our potential tenants. We follow up on every incoming lead on your property until we have communicated with them. We do this daily until we have your property rented out. 16) How long are your properties typically vacant? Our properties are typically vacant less than 30 days 17) What are your income and screening requirements for applicants? We require for tenants to have 3x monthly income of rent rate. We do 3 checks - credit, criminal background, and previous eviction. We screen applicant individually. 18) What control do I have over the tenant lease agreement? While Moudy&Co. takes care of the first portion of screening, the final screening process is having you, as the owner, sign off on the tenant renting your property. 19) Do you mark-up maintenance and repairs? We do not do mark-ups on repairs or maintenance. We will attach all invoices for any work done to your property's file for you to be able to reference at any time. 20) How often will I get updates on my portfolio? Through your owner's online portal, you have complete access 24/7 to your entire portfolio. You'll have the ability to run reports on your own for individual properties or for your entire portfolio. We will reach out on a quarterly basis to review the performance of your portfolio.