On Demand Realty Residential Property Management Services
Below are the steps/services we take with every Investor:
Step 1 - Owner Investment Goal Discussions - On Demand Realty will meet with you to discuss your investment goals with the property and our property management services. Topics to include: Are you interested in rental income, appreciation, the length of time for your investment, what are the local market rental rates, etc. This meeting will also serve for both you and On Demand Realty to determine if a mutual joint business relationship is the next right step since our goal is 100% customer satisfaction.
Step 2 - Initial Property Inspection - after goals are understood, an initial inspection will be done of the property to make sure that habitable conditions are being met for tenants. Any recommendations will be presented to you for follow-up and discussions. On Demand Realty will work with you to get any work completed in a timely fashion to minimize your "downtime". At this time, you will be presented with a Property Management Agreement and any necessary addendums for your review and agreement before proceeding to the next steps. Owners will be required to add On Demand Realty on your insurance policies to provide complete protection for both the owners and On Demand. (Click here to view a Sample Property Management Agreement)
Step 3 - Residential Listing Service - syndicated listing of your property with pictures, information and qualifications across a variety of listing services, as well as yard signs, and scheduled showings. Syndicated listing services include: and the MLS (Click here to see our online Rental Listing site)
Step 4 - OnLine Tenant/Prospect Application - All prospective tenants are required to complete an online application that explains the tenants responsibilities, captures their information and creates an electronic file for record keeping. An application fee is only charged after the prospect is being considered for tenancy and with their permission. (Click Here to go to the On Demand Realty On Line Application)
Step 5 - Residential Tenant Screening - fee-based online screening for viable and credit-worthy applicants. We check credit, personal and prior landlord references, employment, prior evictions and criminal backgrounds on ALL tenants over 18 years of age.
Step 6 - Manage Move-in/Move-out - all tenants complete, with the property manager, a move-in and move-out inspection form. This protects both the tenant and the owner to document premise conditions at move-in and at move-out. Not only is this required in California, but this documented format reduces future complications relating to the Security Deposit. (Click here to view a sample of the Move In Move Out form.)
Step 7 - Legal Compliance - all Federal, State and local laws must be followed to reduce your potential liability for tenant suits or penalties for things like not giving proper notice, not returning security deposits in a timely fashion and if necessary the most efficient way to regain possession (eviction) to protect your investment. (Click here to view a sample flowchart of the eviction process)
Step 8 - Residential Lease, Disclosures and Addendums - we use the California Association of Realtors (C.A.R.) lease which is enforceable in all courts and clearly describes the roles, responsibilities of tenants and landlords and any associated specific terms. We also provide the required Disclosures for Agency, Mold, Water Heater, Smoke Alarms, Carbon Monoxide Monitors, Meghan's Law and HUD so that your rights are protected as well as ours and the tenants. Finally, if there are specific requirements such as deposit terms, restricted services, etc. we will use an Addendum to make sure all parties have agreed in writing. (Click here to view a sample of the CAR Residential Lease.)
Step 9 - Tenant On Line Communications - On Demand Realty provides tenants a secure online portal. Tenants can submit requests quickly online and document both their request and even attach photos if requested. Tenants are also able to view a local Service Directory of service providers, their lease and their account balance. If they elect OnLine payments they can pay via credit card, electronic funds transfer or ACH withdrawal. If tenants do not use online payments, On Demand Realty provides the tenants a Wells Fargo Deposit Only ATM card so they can make deposits 24/7/365 at any Wells Fargo ATM. (Click here to see samples of the Tenants reports)
Step 10 - Tenant Notifications - care must be taken to make sure that proper notification is given to all tenants prior to entry, assessment of fees or to initiate eviction proceedings. Failure to follow the process accurately may delay results or worse result in penalties that can be costly to all parties. On Demand Realty will initiate these notifications and guide the Property Owner on successful results. (Click here for a Sample 24 Hr Notice of Entry.)
Step 11 - Vendor On Line Communications - All vendors are listed online and when a tenant request is received it is reviewed and if an outside vendor is required, a Work Order is sent to the vendor for completion. This work order documents the request, tenant contact information and provides for a signature to show the work has been done and accepted by the tenant. The work order is then returned before any payments are issued.
Step 12 - On Line Financial Reports - On Demand Realty provides each Property Owner a unique secure passcode for access 24/7/365 to their property financial reports. As an owner you can see Balance Sheets, Income Statements and current lease ledgers for each property. These reports are maintained by our bookkeeper and overseen by our CPA to make sure we are in compliance in all Bureau of Real Estate reporting.(Click here to view some of the Online Financial reports) Note: to allow time for processing of rental payments from tenants, owners payments are made 10 days after receipt of rental payments.
Step 13 - Funds Management - On Demand Realty maintains distinct bank trust accounts with Wells Fargo for security deposits, owner reserves, rental payments, to pay vendors and disburse funds from your reserve account as well as forward your monthly income in a timely and accurate manner. All these activities can be viewed in the OnLine Financial Reports available 24/7/365 for Property Owners. (Click here to see how On Demand Realty manages funds)
Step 14 - Vendor Management- qualify and manage all vendors for licensing compliance, insurance requirements, quality of work and rapid response.
Additional Services Offered by On Demand Realty -
On Demand Realty can apply these services, at our cost, to your investment home and manage the monthly fees within our accounting program so that you get the benefit of negotiated rates and no hassles with recurring charges. All options below will need to be itemized and agreed to in the Property Management Agreement.
Home Warranty Service - protect your investment from large capital expense items like furnace, air conditioner, plumbing, electrical, etc. A small monthly fee with a per service call fee when needed, will provide peace of mind for the investor. We offer several plans with national providers for your consideration.
Household Alarm System - install a basic, wireless, remotely monitored alarm system to protect your investment if vacant and in case the tenants are not at home. Tenants can then upgrade, at their cost for more protection. FYI: some casualty insurance companies will not insure a vacant home unless it has an alarm system to reduce their risk and you may even get a reduction on your insurance policy.
Yard Maintenance - protect your investment by maintaining the outside of your home and remove any liability from tenant injury.
Water and Sewer Charges - Are you aware these are services offered by the local community and can create a lien on the property until paid. It is suggested to include these charges into your rental rate and pay them directly when due. On Demand Realty can manage this for you and remove the risk that a tenant does not pay and a lien is placed on your property.
Property Taxes and Insurance Payments- if agreed to by the owner in the Property Management Agreement, On Demand Realty will process the payments for local property taxes and insurance from the owners reserve funds. This is offered as a convenience for the owner and to keep all expenses, per property in one folio.
INTERESTED IN LEARNING MORE ABOUT ON DEMAND REALTY?
Call us at 925 464 1006 to speak with us.
We can answer your questions and schedule a meeting to discuss your goals and how our services can help you meet those goals.