At 7 Real Estate Management Services, we are committed to maintaining the value and integrity of your Real Estate investment. Our approach to managing your property is vital to not only your monthly cash flow, but just as important is our maintaining the longer term rental and resale value of the investment. A great monthly cash flow is wonderful but if a large amount of that profit has to go back into the property for delayed maintenance and/or damage caused by a tenant, then what is the value?
As stated elsewhere, we manage Single Family Homes, Condos and Townhomes. We manage properties that are in very good condition with rental rates from $2,500 - $10,000 / month.
We stress "in very good condition" for a reason. From experience, we have found that "the quality of the Tenant is equal to the quality of the property". A minimally maintained property is simply going to invite a tenant type that is not necessarily concerned with their living environment . . . and will treat the property as such. Conversely, a well maintained property will attract a more conscientious tenant.
As part of our routine services, we conduct property inspections 2 to 3 times per year. Aside from finding areas of the property that need a little maintenance attention, even more important is our need to understand how the property is being treated by the Tenant. In catching "issues" during the tenancy, we have written the lease so we are able to collect the needed repair/replacement funds from the Tenant immediately upon discovery of an issue. This assures that any Tenant inflicted maintenance expense will be absorbed by the Tenant. We also check HVAC filters to assure that they are being routinely replaced.
Evictions can be a long drawn out and very expensive process. Best to avoid them altogether. Getting back to the importance of choosing the right Tenant, we are proud to say that we have not had to deal with an eviction in over 10 years. In fact, we have been hired by "non-clients" to remove tenants from their properties. We typically find avenues to remove the Tenant without having to go through the court systems. But again . . . let's put a thoroughly vetted Tenant in your property so that we don't need to go through this process.
Needless to say, it pays big dividends to retain a Tenant for multiple years. In maintaining the condition of the property along with a good relationship with the Tenant, the Tenant truly has no reason to leave other than a change of life or job event. And that again, comes back to how well we maintain the property and remain in good standing with the Tenant.
All financial transactions between Tenant and 7 Real Estate Management are handled through the ACH process. We do not accept checks as rental payments. We pull on the 1st of each month directly for the Tenants bank account. After the funds clear our account, the Owners funds are then automatically deposited in his/her account. The Owner/Investor can expect funding on or around the 10th of every month.