After writing the post about the benefits of hiring a property management service, it occurred to me that I hadn't included the actual services that property managers perform.  So here goes:

1. Inspect the property and determine a market rental rate
   1. write up detailed documentation, including photos of the property, with interior and exterior shots
   2. make suggestions as to appropriate repairs that will maximize potential rental rates
   3. provide comps for market rental rates in the area
   4. establish (with the owner) the rental policies such as pets, smoking etc.
2. Market the Property to perspective renters
   1. thoroughly clean the home, mow grass and touch up landscaping
   2. provide signage in the yard
   3. write ads that are tailored to the property through appropriate advertising venues
   4. make other realtors aware that the property is available
   5. field calls and questions regarding the property
   6. meet potential tenants and show the property
   7. provide all necessary documents for leasing and collection of rent compliant with existing law
3. Tenant Screening
   1. background check etc to verify information on the rental documents
4. Tenant Move In
   1. provide the move in inspection
   2. collect 1st and last months rent and security deposit
5. Rent Collection and Eviction
    

    

   1. Insure that rents are paid in full and on time
   2. In the event of missed payments, begin eviction proceedings in accordance with the law
6. Inspections
   1. Perform scheduled inspections periodically to insure that the renter is taking appropriate care of the property
7. Maintenance and Repairs
   1. utilize an established maintenance schedule to identify any potential repair issues
   2. provide and maintain a network of home repair professionals
   3. outdoor maintenance
   4. make recommendations for larger repair issues
8. Accounting and Reporting
   1. Provide accounting procedures and services
   2. amke payments on behalf of property owner
   3. insure proper record keeping
   4. provide monthly reporting on cash flow
9. Legal
   1. Maintain a network of attorneys who can assist in the event of legal issues
   2. insure thorough record keeping procedures are followed for documentation
   3. knowledge of up-to-date local, state and federal regulations to ensure that none are violated
10. Tenant Move Out
    1. Inspect and record the property's condition
    2. provide the tenant with a copy of estimates in case of damage

This list may not be complete but is a good starting place for all the services that property managers perform.  Most home owners or investors don't have the time, the software, or the people to make sure that all the steps are followed to protect both the property and owner but also to increase the ROI of the unit.

If you'd like more information on our services you you can return to the home page:  Jacksonville Property Management