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How is my property advertised?
In addition to our For Rent or For Lease signs which are placed in a conspicuous location on the rental property, we also utilize the local newspapers for print advertising since that is the traditional place tenants of all types look for rentals. However we are increasingly finding that our best results come from our high-profile website and other resources on the Internet. We also have printed materials at our offices for the tenants who come by to talk with us. Depending on your property, we may also utilize local real estate listing services such as CBA, the Commercial Brokers Association (Commercial MLS), the Northwest Multiple Listing Service and/or LoopNet, a national commercial listing service. Utilizing these prestigious resources enables us to get your property in front of more prospective tenants.
In today’s internet focused world, we may also utilize websites like Craigslist and other nationally syndicated websites to expose your property to more prospective tenants.
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How is it determined how much rent a property will generate?
We do comparables with the other properties that are available on the market – our own rentals as well as those of other companies. Our extensive experience in the rental industry is also a determining factor when we make recommendations for the rental amount. Sometimes the owner decides what amount of monthly rent they are willing to accept, but more often we work collectively to decide on an appropriate rental amount.
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What are the owner’s responsibilities?
Owner responsibilities include having insurance on the property and making sure that the property is in compliance with State and County code requirements for health and safety. Property owners are also financially responsible for required maintenance and repairs to the property. While our professional property managers will manage the process, property owners are still responsible for any work done.
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What happens if the tenant doesn’t pay the rent?
A nationally designated Scenic Byway following the Strait of Juan de Fuca from Port Angeles to Neah Bay, the home of the Makah Nation. |
When will I receive a disbursement check?
Rents are due in our office on the first of each month. Our leases specify that if rent is not received by the fifth, of the month, a late fee is assessed. In order to avoid violating trust accounting laws, we need to wait until rent checks clear before we can send payment to you. Assuming that all rents are paid on time, owners generally receive their rental proceeds, as well as their operating statement on or about the 10th of every month.
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Who collects the rent?
Windermere collects all rental payments from tenants, and then uses these funds to manage the monthly operations of your property. All residual income remaining is dispersed to your account.
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What happens to the tenant’s security deposit?
As is dictated by law, all security deposits are placed in a separate escrow account where they remain until the tenant moves out. Deposits minus any damage noted are refunded within 14 days of the end of the tenancy as required by Washington State Landlord Tenant Law.
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Who pays the monthly reoccurring bills?
We can make any or all recurring payments for you such as your Home Owner’s Association fee, lawn maintenance contract, pest control contract, etc. During a vacancy we will pay utility bills on your behalf. We prefer to have property owners handle their own taxes and insurance, but as is the case with most things with Windermere, we are here to serve you. If your situation requires special circumstances we do all we can to meet your needs.
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Am I informed of all repairs you make on my property?
Our standard management agreement includes emergency service consent as well as authorization of non-emergency repairs up to a preset amount. This amount is generally about $300.00, but can vary depending on the property and the situation. For non-emergency repairs estimated to exceed this threshold, no work is initiated without your knowledge and express approval. For large repairs or maintenance issues, Windermere property managers can handle the bidding process to receive estimates from multiple contractors.
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How do I know the repair people will do quality work?
We will utilize third party vendors and require the highest level of professionalism and quality from them. The majority of the vendors that we deal with have worked with us before and proven their ability over time. They know that their continued ability to receive work from us depends on their continued excellent performance. We supervise and approve all work before a vendor is paid.
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What happens if there is an emergency?
All tenants go through orientation in our office before they are handed the keys to the property. Tenants are encouraged to take a proactive approach not only to emergencies but to routine maintenance items as well. Tenants are instructed to contact their Property Manager in the event of an emergency and are given instructions as to what constitutes an emergency situation.
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How often will my property be inspected?
At the beginning of each new tenancy, a move-in inspection is completed which provides Windermere and tenants with a detailed summary of the condition of the property. Throughout the tenancy we will conduct general exterior and interior inspections. Since we are often out working in the field showing properties, it is a common occurrence for us to drive by the rental properties we manage. For instance, if the landscaping maintenance is not being properly handled, we react appropriately and quickly to ensure any issues seen are resolved.
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If I want to sell my property, can you do that for me?
Professional property managers are licensed real estate agents and we are happy to provide our expertise in listing and selling properties. We may also refer you to another Windermere agent in our office – the criteria for this is simple: Who among us can provide you with the best possible results? Often buyers seek rental income properties for investment purposes and find Windermere Property Managers to be an excellent resource.
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Greg WhiteCoupeville