NWA Realty Group would like to thank you for the opportunity to outline our property management services.
Getting the best results for your investment property is our number one goal.
Marketing Analysis: First, a rent analysis is done to ascertain competitive market rents for the property location. Setting the most accurate market rental amount will attract the best, most qualified number of prospective tenants so that you can maintain stable income and low turn-over.
Advertising: We market vacancies by whatever means that have proven effective for that property, from:
- Properties listed on the internet are priority number one, with over 85% of real estate shoppers looking to the internet before any other source of information. We place your home on major real estate search engines and on the Bridges Realty web site. Advertising on the web is a must to maximize exposure and is free for owners!
- Listing on the MLS multi-listing service. This listing service provides all real estate agents in Northwest Arkansas and around the state with immediate access to all available properties for lease and for sale. By listing our properties on the MLS, clients will also be exposed to the major real estate search engines mentioned above. One example would be www.REALTOR.com.
- Most importantly, and often over-looked, eye catching signs or banners are affixed to the property itself.
- NWA Realty Group offers a referral fee to any real estate agent who refers a client to us when a lease is signed. The referral fee is based on the amount of the negotiated monthly rental amount. This incentive has proved to be very beneficial and is no extra cost to the property owner.
Screening Process: We view tenant selection as one of our most important functions. NWA Realty Group applications are handed out during showing appointments to all interested prospects. Prospects can also obtain an application at our office or on our website. The ease to apply has increased the numbers of applications we receive as well as sped up the processing time. Once a completed application is received in our office, the application is screened for credit, rental and/or ownership references, and income. We run all applicants’ credit history and criminal background. We then consult with you, the owner, in order to approve or deny the application.
Lease Signing: Once accepted, the prospective tenant signs a lease which has extensive safeguards for the property owner and complies with all local and state laws. The tenant must provide a security deposit and first month’s rent in certified funds before a lease is signed and the keys turned over.
Accounting: Once the new tenant has signed the lease and funds are collected, a full accounting is made and a distribution is made to you on a monthly basis.
We use Property Management software called AppFolio which provides complete accounting services such as Owner’s Statements, which show monthly income and expenses, P&L statements, Delinquency reports. Our Property Management software also tracks move in dates, lease expiration dates, maintenance service orders and a complete history of the property.
Alternative Option: NWA Realty Group offers an alternative type of managing service. This option is called a Tenant Locate Only. With the Tenant Locate Only, Bridges will market the property the same and screen the applicant(s), as with our standard Managing Agreement, however, once we secure the tenant, we hand it back to said Owner and the owner will take over the management from there. So instead of paying a monthly management fee, you would pay us a one-time leasing fee. The fee for the Tenant Locate Only is equal to one full month’s rent.
|WE DO THE FOLLOWING FOR YOU:|
- Show your property to prospective tenants 7 days a week.
- Market your property on the Regional MLS and Craig’s List. By placing the property on the Regional MLS your property will be viewable on many other internet sites. One of the popular sites is www.Realtor.com. Many people looking to relocate to the area use Realtor.com to find a property. By placing your property on the Regional MLS, the property will be viewable on Realtor.com.
- Find tenants using a validated and proven referral system within the local real estate community.
- Screen tenant backgrounds using computerized credit reports, criminal records and past rental history checks from Trans Union Credit Search. These reports are practically instantaneous and very thorough.
- Collect security cleaning deposits in addition to all rents prior to possession.
- Issue a monthly activity report on each property along with your rental income check.
- Arrange repairs using on-call, qualified and cost-effective repair people. Where health and safety is concerned, we use only licensed, insured and bonded contractors.
- Promptly issue all necessary legal notices.
- Interact with your tenants in a firm, but supportive and business-like manner.
- Drive by and inspect your property at least once a month and immediately investigate any complaints reported to the Property Manager.
- Perform move-in and move-out inspections of your property before security deposits are paid out. Improper cleaning by tenants and associated costs will be deducted from cleaning and security deposits. Any damage will be paid for from the tenant’s security deposit.
- Provide Owners and Tenants with a 24-hr, 7 days a week mobile service number.
Please contact us to find out more about our fee structure.
NWA Realty Group Contact Information:
Property Management Department – Office: 479.273.6900
Property Manager/ Realtor – Chris Bartholomew
Property Manager/ Realtor – Andy Tiner