Royal Palm Realty Group follows a very innovative property management system. This system enables us to provide very dependable and predictable services to our clients.
Inspect what you expect
Makes Investing & Owning Rental Property Easy
A big part of success in real estate—and business in general—can be attributed to forming the right types of alliances. Alliances increase strategic positioning and are used as a method to increase strengths, helping all involved parties to reach their goals more efficiently and at a much quicker pace. At Royal Palm Realty Group, we are committed to this philosophy. In fact, we built our name on it.
As an Investor/Owner you can expect our normal procedures to include:
- Our team will make owning rental property as an investment not only smart, but easy. We will make every reasonable effort to collect the rent in a timely fashion. Rent is due on the 1st of the month and is considered late after the 5th.
- Through our experienced staff we make responding to all tenant concerns and emergencies quick and efficient.
- Our team will make every reasonable effort to renew the Lease with the current tenant with an increase of rent to current market rental rate.
- Our team will prepare and mail copy of any and a comprehensive statements along with the owner’s check each month in a timely manner.
- Our team will consult with you, the property owner, in advance regarding any expenditure to the property that would exceed $250, unless it is an emergency affecting the safety health of the tenant, or the integrity of the property. We will obtain written permission to proceed with any property expenditure exceeding $250, unless an emergency.
Even if you are a beginner in real estate, you’ve heard the cliché, “Location, location, location.” Well, location is obviously key, but you have to think differently when you’re dealing with rental properties. A nice neighborhood with rising home values may be a good location to buy a home in, but it may not be an attractive rental area.
STRATEGIC EVALUATION OF TARGET AREA (SEOTA)
- The goal of the SEOTA process is to identify areas that are good rental markets.
- The first step to locating a target area is to evaluate the key indicators of an area. These indicators will have a positive or negative effect on the supply and demand of housing, and evaluating them will identify the areas with the strongest rental markets.
We follow the best practices in property management when we “qualify” our prospect before showing them the property. The use of a Qualifying Criteria form to explain to the prospect your qualifying process so they know up front what it takes to move in. To utilize this form we modify the criteria to fit your rental rate, etc. Using this qualifying process keeps us within the Fair Housing Laws.
If your prospect is interested in leasing your rental property and feels confident they will qualify, our next step is to complete an Application. This form is the cornerstone of the tenant’s file. For example, if you need to evict a resident you will need this application, along with a lease, to begin the eviction process (which we try to avoid).
We then use a comprehensive tenant screening process, which increases our chances of leasing to a great tenant.
We agree up front what will be the landlord’s or tenant’s responsibility. This understanding is spelled out in the tenant’s lease.
Property Management is easy when you follow one simple rule: ‘Inspect what you expect.‘ We make it a policy that we will be in a rental at least once a month for the first three months. If things look good we will go to a quarterly inspection scheduled.
We follow a detailed process if/when things happen. Be it late payments, bad dogs or other issues. We are mindful that you own the property and we try to treat it as if were ours.