OUR SERVICE MAKES THE DIFFERENCE
We believe that the key to our success is the personal relationships that we have developed with our customers over the years. Wagner Realty has assembled a staff comprised of the area’s top Property Management specialists. Our experience in managing long and short term rental properties means top quality service and detailed reporting for maximum tax savings.
AS A RENTAL PROPERTY OWNER, WHAT CAN YOU EXPECT FROM US?
We take the protection of your property and its value very seriously. We follow a series of steps to manage your property in the most professional and efficient way possible to give you the greatest peace of mind.
Step one is to evaluate your property. This includes verifying ownership, inspecting the exterior and interior of the home, confirming the proper bedrooms, bathrooms, square footage, etc. We communicate with the Association (where applicable) to obtain pertinent documents, rules and regulations and tenant applications. We review what services, utilities, amenities and appliances will be included in the rental agreement. We determine the current market rate based on the comparables and condition of the property and then we review it and verify it all with you the Owner.
Step two is the marketing phase. This is where we prepare the home to be rented. This includes placing a lockbox on the property, cleaning the unit if it is necessary, either furnishing or unfurnishing it when necessary, Then, when it is move-in ready, we take our marketing photos and enter them into the Rental section of the MLS system with the Manatee Association of REALTORS®. This marketing source will feed out to other sites such as Realtor.com, Zillow.com, Homefinder.com, Trulia.com and various Agent websites.
Step three is the interview and application process. When a prospective tenant expresses an interest in renting your home, we require him or her to complete a Rental Application so we can evaluate their background. The fee charged is $65 for a couple or $45 for a single person. The background check accesses criminal, credit, eviction and sexual predator records. We contact current and previous Landlords and employers. If felony charges or evictions show up, they are disqualified. If their credit score(s) is 500 or less and they have no criminal history or evictions, then last month’s rent would be collected up front. Their income is also verified. It must be 3 times the rental rate per month or they must prove by bank statements that they have 6 months of reserves.
Once the prospective tenant passes our background check, and if there is an Association in the community where the unit is, they must then apply to the Association, who will also run their own background check and usually conduct an interview to be certain that the tenant is aware of the rules and regulations of the community.
When a tenant has passed the background check(s), then we submit the information to The Law Offices of Heist & Weisse to draw up the physical lease. The fee for the lease preparation is $45, which will be deducted from your rent proceeds check.
Step four is to maintain the property by way of performing a move-in inspection with date-stamped photos detailing the condition of the unit prior to the tenant moving in, Once the tenant is in, when repairs are required, we handle all of the repair calls. We then submit work orders and communicate with both the vendors and you in a timely manner. We work with a variety of vendors to ensure that we get the most reasonable price with the best quality of work and communication. We are available to answer calls of this nature 24/7.
We also perform a move-out inspection as soon as the tenant is completely moved out to determine the condition the property has been left in. This allows us to assess what needs to be done to prepare the unit as quickly as possible to be rented again, as well as to ascertain if there are damages for which the tenant be responsible.
Step five is to collect rental payments and to disburse the proceeds to you along with your monthly statements and copies of any work orders that may have needed to be addressed at the property during the month. We also generate complete, itemized year-end statements for tax purposes. If your rental property is a short term seasonal, we take care of collecting, filing and paying any sales and resort taxes that are required from the tenant.
We strive to communicate early and often when any changes, work orders or issues arise on the property. Our goal is always to protect the property in the event of an emergency such as flooding, mold and air conditioning failure. If you have elected to have us use your preferred vendors, and an emergency does arise, we reserve the right to use our vendors should your preferred vendor not respond in a timely manner. We also keep a reserve balance on hand in the event that we do need to contact a vendor for an emergency repair. As a bonus, our routine service providers and vendors offer additional eyes on the property and report to us any negligence, unreported tenants or pets, damages, etc.
In the event that any rental payments are late or are missed, we will contact the tenant to get the account current. If necessary, we will serve legal notices for the late payments or bad checks. Should the tenant stop paying rent completely, be causing damage to the property or violating any other terms of the lease, we will attempt to resolve the problem as quickly as peacefully as possible. If those attempts fail and an eviction is required as a last resort, we will work with our team of attorneys to execute the process as quickly and effectively as possible to protect you from further damage or financial loss.
Should significant repairs be required or should you decide to renovate between tenants, we will be happy to oversee the process.
If you would prefer to manage your own property, but need assistance securing a qualified tenant, we will do all of the above with the exception of handling repair calls, collecting rent and inspecting your home prior to and following the lease term. Our fee for that is one month’s rent.
For our Seasonal rentals, the minimum length of stays is determined by the Community or the Association. We will always try to book the longest stays first. The tenant is required to pay the Sales and Resort Tax (which is required on all leases of less than 6 months), the application fee required by the Community/Association and a departure cleaning fee. At the conclusion of the winter season, your unit will be shut down for the summer, unless you notify us that you or your family members will be using it in the coming months.
The choice is simple: you can relax, hire The Greiner Group at Wagner Realty to manage your rental property and deduct the cost of our service from your taxes. (If you were to do the work yourself, your time would not be deductible!)