RESIDENTIAL APARTMENT BUILDING MANAGEMENT SERVICES
Residential apartment and building management services are provided by Castle Inc. that drives down costs, increases investment returns, and improves tenant retention.
With refined tenant and resident screening strategies, landlords and managers can improve profitability by selecting the right tenants in advance – risk reduction. Potential candidates are evaluated using a scoring system which either gives the applicant a “pass or fail” result based on credit, criminal, sex offender, rental history, and evictions. Screening technology tools can reduce financial exposure and costs associated with a difficult and often challenging tenancy while enhancing profitable occupancy rates.
We handle all of the day-to-day requirements of property ownership, including:
- Tenant communications and correspondence
- Coordination of maintenance issues
- Streamlined tenant move-out process
- Managing cleaning, painting, and other services related to preparing a unit for tenant placement.
Property Valuation
- Evaluate the property and determine an accurate rental rate using comparative analysis
- Generate data on rental rates in the area and work with owners to determine the optimal rental rate
- Detailed documentation of the interior and exterior including photos is provided during assessment
- We recommend repairs and cosmetic improvements that maximize monthly rent
- Establish policies such as accepting pets, allowing smoking etc.
Rental Marketing
- Clean and prepare unit for rental and optimize interior appeal
- Manicured landscaping to increase curb appeal
- Aggressive multi-channel advertisement of vacant units
- Create ads tailored to the property such as online paid and free rental listing websites.
- We also work with realtors and leasing agents to find a tenant
- Field calls from prospects for questions and viewings
- Scheduling and showing vacant units to prospective tenants
- Provide prospective tenants with rental applications
- Review, screen, and select tenants
Tenant Screening and Selection
- Perform a background check to verify identity, income, credit history, rental history, etc.
- Grade tenant according to pre-defined tenant criteria
- Inform tenants who were turned down
Tenant Placement Services
- Confirm move in date with tenant
- Draw up leasing or rental agreement
- Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance
- Ensure all agreements have been properly executed
- Conduct a move-in inspection, which often includes digital photos of the unit and have tenants sign a report verifying the condition of the property prior to move-in.
- Collect first months rent and security deposit
- Turn over keys
- Provide a welcome packet
Tenant Move-out
- Inspect site and document the property’s condition
- Provide tenant with a copy as well as estimated damages
- Return the balance of the security deposit to the tenant
- Disperse and manage security deposits or retain for repairs
- Clean unit and perform and needed repairs or upgrades
- Re-key the locks
- Put the property back on the market for rent
Inspections
- Perform periodic inspections (Inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
- Send owner periodic reports on the condition of the property
Rent Collection
- Receiving rent
- Hunting down late payments
- Sending out pay or quit notices
- Enforcing late fees
Evictions
- Full coordination of eviction processes
- Filing relevant paperwork to initiate and complete an unlawful detainer action
- Representing owner in court
- Coordinating with law enforcement to remove tenant and tenants’ possessions from unit
Legal
- Advise in the event of a legal dispute or litigation
- Refer owner to a qualified attorney when necessary
- Understand and abide by the latest local, state and federal legislation that apply to renting and maintaining rental properties