Full Service Property Management Plan

 

As The Rule Team - Professional Property Managers we strive to give you the most professional property management service available today. Our number one commitment is to be the best Property Management Company in Indianapolis when it comes to your investment. You worked hard to obtain it and we will work hard to maximize the potential of that property. As with any successful business we are dedicated to earning your trust and respect. I intend to earn that endorsement from you while relieving you of the burden of managing your rental properties in Indianapolis.

The Rule Team - Professional Property Managers is a full service Real Estate Property Management company providing property management services in Indianapolis. We specialize in property management and leasing of residential properties, houses and condos. It does not matter whether you are across town or across the country, you can feel confident that we will manage your property as if you were living next door. All tenants are carefully and thoroughly screened.

 

We are members of the National Tenant Network and have the resources to properly & legally screen anyone's background, financials, residence, and employment.

 

We use our own property management rental agreements that are very detailed and explain what we as property managers expect from our tenants. In the event that your property requires maintenance, we have specialists available to handle any situation. These maintenance people have been chosen due to their reliability and reasonable fees.

 

Our cumulative monthly and year end reports will delight you and your accountant with the information needed for your income tax preparation.

Well-managed income property has proven to be an excellent investment over the long term. With its unique tax advantages and the right amount of leverage, real estate is important part of any well-balanced portfolio.

It takes a careful mix of marketing analysis, proper tenant screening and managing operating costs to maximize the long-term return on an investment property. The performance of your investment comes down to a multitude of small details –finding the best tenant, getting the best price on supplies, timely placement of advertisements, the right level of preventative maintenance, and numerous other tasks.

With our experience & high level of customer service, we are committed to carefully managing all the details that make the difference through all phases of the management cycle...

 

The Full Service Management Plan includes the Rental Listing Plan as well as the following...

 

Tenant Screening

Finding and keeping good tenants is crucial to the financial success of your investment property. Once a tenant submits an application, a rigorous screening process begins. We check each applicant’s credit report, legal history, and references. This is done for you at NO cost to you.

Unit Preparation & Maintenance

Our professional maintenance staff will make sure that your units are promptly prepared for new tenants. We will recommend to fix items that need repair, perform upgrades as necessary, and make sure each unit is cleaned and painted so it looks great for your next tenant. We will make sure you have approved the work & make sure invoices are sent to you for payment.

Market Analysis

We are constantly evaluating the rental market to be sure that your units are priced optimally. If rents are too low, there will be an obvious loss of revenue. If rents are too high, units will take a long time to rent, and the revenue lost due to vacancies will negate any gains from the higher rental rates.

Advertising

In addition to posting vacancies on our website, we will put together an advertising package that is appropriate for your property. Through volume purchasing, we can often save you money and make your advertising dollars go farther. Some of the avenues that we use locally are…www.RuleTeam.com, www.rentalindy.com, www.indystar.com, www.craigslist.com, Indianapolis Star newspaper, and Nuvo newspaper. In addition, we subscribe to the major national players like Realtor.com, Zillow, and Trulia.

Showings

Properties are promptly shown to prospective tenants at their convenience. The property may also be shown by other MIBOR affiliated real estate agents.

Leasing/Signing

Once a tenant has been accepted, we secure a written lease or rental agreement. Our leases are carefully designed to help protect the owner from problem tenants. Security deposits must be collected at the time a lease is signed.

Move-In Inspection & Tenant Orientation

Tenants are required to participate in move-in inspection with their property manager. This helps us identify any damage that may have occurred over the course of your time in the home. In addition, each tenant is given an orientation which helps ensure that the tenants are informed about how to contact us with problems, what their responsibilities are, and to avoid any misunderstandings that can lead to problems down the road.

Rent Collection

Rents are due on the 1^st of the month. A 5 day grace period is given for late payment. Failure to pay by the 5^th will result in penalties and a tenant will be served with a 5 day notice to quit or pay rent. Your lease negotiationss with a tenant may have produced different language that each party will adhere to.

Security Deposits

For additional protection, appropriate security deposits are always collected upon completion and acceptance of a rental application by a prospective tenant. Applicants with pets are required to pay an additional “non refundable” pet deposit if approved by the owner. All deposits are held until they are either refunded to the tenant upon the successful check-out inspection or are forfeited to cover damages caused by lease violations.

Inspections

During the rental period we perform periodic drive-by inspections to check for apparent abnormalities. A written notification will be sent to the tenant if a violation of house-rules or regulations is noted. If necessary an inside inspection will be performed. The neighbors will also be informed that The Rule Team Professional Property Management is managing your property and we will supply them with our contact information, in the event that something they believe needs our attention occurs.

24/7 Answering Service

We are available during normal business hours, and there is always a property manager and maintenance technician on call after hours. Our answering service will contact a technician in the event of an emergency.

Bookkeeping

At no extra cost, we will manage the invoices related to clients’ properties out of their rental revenue and provide our clients a monthly income statement detailing their properties’ performance for the month. Copies of all work orders and receipts are kept on file throughout the year. We scrutinize bills for accuracy and handle the resolution of billing discrepancies. We will be happy to provide duplicate copies of this information at the end of the year to help you with your tax preparations. In addition, we also provide a complete

account summary at the end of the year which is specially designed to simplify the year-end

tax preparation job for you and your accountant.

 

Financial Reporting

Each month you will receive a set of financial statements, including income statements, a balanced sheet, and a tenant roster with the rent collection status. We also send copies of all maintenance work orders for the month. At tax time, you can give your year-end financial statements to your accountant to help in preparing your Schedule E.

Move-Out Inspection

When tenant moves out, we will perform a comprehensive inspection and compare the condition of the unit to the way it was when the tenant moved in referencing the Move- In Inspection report. Any items that are not normal wear and tear will be deducted from their security deposit.

Evictions and Legal Actions

In the unfortunate even that a relationship with a tenant results in legal action, we will assist you in evicting the tenant and recovering damages for you. State laws prohibit us from representing owners in court; however, we have relationships with legal counsel that specializes in landlord tenant matters.