When homeowners consider renting out their home using a property management company they have many questions about the management process. I sat down with Shelby Heinemann with Davidson Property Management to see what some of the most frequently asked questions are. Here is what she said:
What does Davidson Property Management (DPM) do for my home?
DPM lists the home on the Multiple Listing Service (MLS), along with hundreds of other websites including zillow.com, realtor.com, trulia.com, floridarentalads.com and many more to get the most exposure for the property. DMP also takes hundreds of photos of the property before the tenant moves in to document the current condition of the home when it’s clean and vacant. They photograph everything from the floor to the ceilings, the appliances and their serial numbers, and more to be able to compare those photos to the ones they take when the tenants move out. This process eliminates any disagreements over the condition of the property. Another important part of the process is when DPM conducts mid-term walkthroughs to check the bathrooms, underneath the sinks, etc. to make sure there is no water damage in the home.
How do owners get paid?
DPM collects the rent from the tenant and direct deposits the money into the owner’s account. If the tenant is late on rent, a three-day notice is posted and DPM handles the collection of the rent and a late fee.
What does it cost to hire DPM?
DPM charges one month’s placement fee and after the first month’s placement fee, they charge 12% a month.
How are repairs handled?
The tenant calls DPM, who uses a list of trusted vendors that work quickly and efficiently to fix any home needs.
What happens when an eviction is necessary?
The eviction process is not complicated because DPM had lawyers draw up their leases. The process normally takes between 30 and 60 days and costs between $400 and $600. The lawyers handle all the paperwork and DPM handles getting the tenant out of the home.
For more information on renting your home please visit www.davidsonpropertymanagement.com or give them a call at (904) 484-2170.