1. Do you have experience managing property yourself?

2. Are you familiar with fair housing and landlord/tenant law in the jurisdiction(s) where your property is located?

3. Do you have relationships with contractors that ensure you can get 24-hour service at reasonable prices?

4. Do you have a reliable means to determine fair market rent and returns on your investment property?

5. Do you know the proper notices and legal processes to deal with non-paying tenants and have the legal resources to follow through with a cause of action if needed?

6. Do you have a current, professionally crafted lease and related agreement/forms to minimize your exposure to liability?

7. Are you willing to take “those” calls at an inconvenient time in order to handle those tenant emergencies?

8. Can you routinely visit the property to assess its’ current condition and/or use?

If you answered “no” to any of the above questions, it might be prudent to hire a professional management team. The cost of one bad decision could more than offset the cost of hiring a professional manager to help you avoid the pitfalls of rental property ownership.

We are dedicated to providing the highest quality professional management services at the lowest prices in the industry. Our goal is to assist owners in obtaining maximum financial benefit from the leasing of their properties. Each customer and each property is given the individual attention and care that has established our company as a success in the business.

Please contact us if we can be of service.

Helen Rivard – (530) 409-2687

Property Manager

LET US MAKE YOUR

REAL ESTATE INVESTMENT

MORE PROFITABLE

The property should be in the best possible condition to attract a quality resident.  Paint should be in good shape with marred or dirty areas touched up.  Neutral colors for walls and floors are best.  Blinds or shades are ideal window coverings.  The home should be “detailed” clean and the yard in excellent shape.

How do I determine the rental amount?

The competition determines the rental amount.  As experts in the field, we know the market and the competitive rental ranges for your home.  If the home is marketed too high the home will be vacant much longer.  If it is marketed too low, it may be one or two years before the price becomes competitive again.

How do you market the property?

The property is immediately added to our rental availability list, web sites and other resources.  Lists go out weekly to many Realtor and Relocation Offices.  A yard sign with our toll free number is placed and marketing photos are taken within 48 hours.

How long will it take to rent?

Vacancy periods are market driven.  There is also some luck involved in the right person looking at the right time.  On average in today’s market it takes between three to six weeks to rent a home.  Homes rent more slowly between Thanksgiving and New Years.  Location and price effect vacancy.

What are the policies regarding Pets

Statistics indicate that 75% of renters own pets.  Restricting pets reduces the number of available qualified residents.  Pets should be screened and pet references checked out.  In general, a well-behaved cat or dog causes less wear and tear on a home and yard than a young child.

What about smokers?

It is common to prohibit smoking inside the property.  This does not significantly reduce the marketability of the property.

Is it possible to refuse to rent to families with children?

In federal, state and local Fair Housing regulations children come under the protective class of familiar status”.  It is unlawful to discriminate against children in any way.

Is first and last month’s rent as well as a security deposit collected up front?

If a resident has good credit it is common practice to collect first month’s rent and a security deposit up front.  A security deposit can be used for any owner cost while a last month’s rent can only be used for rent.  The security deposit is held in a property trust account as required by real estate regulations.

What happens if the rent is late?

The rent is due on the first of each month.  We begin collection proceedings after the third of the month.  If the rent is not paid by the 5^th we take the first step in the eviction process and sent out a 3-day notice to pay rent or vacate.  If the resident does not pay by the 11^th of the month they are occupying the property unlawfully.  The owner is notified and unlawful detainer “eviction” lawsuit papers are filed in superior court.  We recommend that this step be handled by an attorney (we will be happy to furnish a list of attorney familiar with the process) rather than have the owner represent them selves.  Most evictions are the result of loss of employment.

When are monthly funds distributed?

The payments to owners along with statements are processed around the 10^th of the month.  Disbursements are made by check and statements mailed out that week.  Payments to Owners who had late rents are processed on the 20^th and mailed out late.

Who handles emergencies?

A Property manager is always on call for emergencies.  We have an extensive network of maintenance vendors and sub-contractors to handle any emergency on your property, day or night.  We are on call 24 hours a day 365 days a year.  In most cases, we will ask tenants to make arrangements for the repair themselves.

What is the average length of tenancy?

Most of our rental agreements are leases for a length of one year.  We also do lease agreements for 6 and 9 months.  At the end of the lease term the owner can decide to renew to the resident (if the resident wishes to remain), vacate the resident, or allow the resident to remain month-month.  If the market has changed the owner can raise the rent at the end.

How are repairs handled?

The home’s personal property management team is responsible for approving all maintenance requests.  Residents a required to submit all repair requests in writing.  It is our policy to notify owners of maintenance request greater than $200.00 If funds are available the expense will be deducted on the next month’s accounting statement.  If funds are not available the property manager will contact the owner for payment arrangements.  Sometime a request falls into the category of maintenance emergency.  Emergencies are scheduled immediately and the owner notified at the first possible opportunity.

What happens if the resident leaves before the end of the lease?

The resident is responsible for the rent for the term of the lease.  If residents leave before the termination date they will be charged for rent until the home is re-let.  We on behalf of the owner, will do everything possible to re-let the home and minimize the residents’ cost.

How is the owner protected if the resident damages the property?

A refundable security deposit taken at move-in is usually sufficient to handle the minor damage caused by residents.  Residents with excellent credit and references seldom cause significant damage.  If the resident leaves the property owing money for rent and /or damages they will be billed.  If they do not pay, and with the owners permission, we will contact a attorney to file a writ for restitution with the court.  If the court agrees with the charges the court will enter a judgment against the resident.  The judgment can either be turned over to an attorney or a collection agency.  A judgment remains on the person’s records for several years or until satisfied.

An Application form must be filled out completely and signed before it can be processed.  Any missing information can delay the application process and cause you to potentially miss the rental opportunity.

Place your completed, signed application along with the appropriate application fee and any supporting documents (Drivers License, Social Security Card, and Paystub) and $30 Application Fee (nonrefundable) per adult over the age of 18 years, in an envelope addressed to the following:

Realty World Platinum- Sacramento Area Properties
1024 Iron Point Rd
Folsom CA 95630

Realty World Platinum- Bay Area Properties
3333 Bowers Ave. #130
Santa Clara, CA 95054

You may also drop the application off at this location.  Call the office before you come by.  The application fee is a non-refundable processing fee.  It covers the cost of  processing fees, phone calls, personal wages, etc.  All fees must be in certified funds, i.e. certified check, money order, etc.  A credit report and background check fee of $11.99 will also be charged through our online Payment System.

Income Level

Your income should be a minimum of two and a half (2 1/2) times the monthly rental amount.  Married couples and related applicants over the age of 18 may combine their incomes to meet the two and one half (2 ½) times rent requirement.  Two non-related applicants must qualify individually.  The income must be verifiable, documented and we do not allow evictions.  We must be able to verify your employment history, income and previous landlord.  If you are self-employed, we will need your tax returns for the past two years.

History Check

To determine you qualification, we will be obtaining a credit history from a credit-reporting agency.  We will also be verifying that your rental history is free of evictions, judgments, late rent and any unpaid rents.  No one convicted of a violent crime, crime against property or any felony will be approved.  When using references, please contact them ahead of time and let them know they are being used as a reference and authorize them to release any information requested regarding this rental application.

Documents required

Please provide a copy of your driver’s license, you social security card and a most recent paycheck stub when presenting your completed rental application.  On occasion, we request copies of other documents for clarification reasons such as tax returns, rental receipts, child support documents, SSI, etc.  Be prepared with copies of these documents for the application process within 24 hours of their request.

Occupancy

The number of occupants may not exceed two (2) persons per bedroom plus 1.  All Properties are leased for a minimum of six (6) months.  Move-in date, and monthly rental amount and total funds required a move-in are not negotiable.  A full month’s rent and security deposit are required prior to move-in.  Any partial month rent due will be due at the first of the second month.  All funds including the deposit and rent must by presented in the form of cashier’s check or money order.  No personal checks will be accepted.  You will also have access to pay through our online Payment System.

Pets

There is an additional $175.00 pet security deposit required for each pet with a maximum of two small to medium outside pets allowed.  A photo of the pets must be presented at time of application.  No breeds, mixed breeds of near relative disallowed by insurance companies are allowed on the premises of any of our homes.  This pet policy is strictly enforced and any breach will be grounds for termination of the lease, at tenant’s expense.  Pets not allowed in some properties.

Smoking

It is common to prohibit smoking inside the property.

Lease Signing

Once you have been accepted and your application is approved you will be notified by phone of your acceptance and we will schedule a lease signing appointment at the property.  All adults signing the lease must be present at the lease signing.  At the lease signing, the security deposit, the first months rent and any applicable pet or additional deposits are due and payable by cashiers check or money order.  This will hold the home for you and allow us to take it off the market.

The following is the monthly schedule for management of a home or condominium on an on-going basis.  Our fees are 7% of the gross rent.

Duplex through Four-plex

Our monthly management fee to manage these types of properties is based on 7% of the gross monthly rent.

An example is as follows:

Unit 1 rent = $700

Unit 2 rent = $650

Unit 3 rent = $700

Unit 4 rent = $560

Total rent per month = $2700

$2700 rent x 7% = $189

Total management fee for this four-plex is $189

Large Multi Family Complex

Fees vary.  Onsite manager required to be provided by owner.  RWPL can arrange and interview for a manager by request of owner for additional fee.

Note:  There is a minimum management fee of $99 per month for multifamily units.

We provide our clients with outstanding service at very competitive fees.  There are no hidden charges.  There are no charges for postage, telephone calls, bill payment or monthly statements.  The following is a summary of our fees:

Set-up and Lease fees

*  Initial New client set-up fee $199.00

*  New tenant lease signing fee $99.00

*  Existing tenant lease renewal fee $49.00

Initial New client set-up fee $199

Owner rents and deposits to be placed in the Company’s non-interest barring account.  Monthly management fees to be deducted from monthly rents and remaining amounts sent to Owner.   The $199 fee is only charged once for the initial registration and account set-up when you become a new client.  This fee is due when signing the Property Management Agreement.

New lease signing fee $99

This fee is charged when we are required to find a new tenant to rent your property.  This is the busiest time for us on your property.  We are advertising, showing, checking tenant background, etc; to get the most qualified tenant for you.  This fee is charged at time of signing this is paid from the initial rent payment.

Existing tenant lease signing fee $49

This fee is charged when an existing tenant renews his current lease and stays in the property for an additional lease period.  This fee is paid out of you monthly rent payment.

Realty World Platinum conducts business in accordance with the Federal and State Fair Housing Laws.

Our firm is a full service property management company and a member of the National Association of Residential Property Managers , Multiple Listing Service, National Association of Realtors, California Association of Realtors, Sacramento Association of Realtors, Santa Clara Association of Realtors and the El Dorado County Board of Realtors.

For Residential Income Properties houses condos and apartments:

A Management fee of 7% of the monthly gross rent provides for the following:

• Marketing your property
• Showing property to prospective tenants
• Computerized bookkeeping, detailed monthly statements.
• Frequent, random and unannounced property inspections.
• Timely rent collection before mortgage due date.
• Preparation of the annual budget and reserves.
• Computerized bookkeeping, detailed monthly statement and owner’s check sent by the 15^th of the Detailed tenant screening with low eviction rates.

o  The Credit Bureaus for the tenant’s financial status

o  The Courts for evictions or lawsuits against the tenant

o  The National and Western Repositories for the tenant’s history

o  The Criminal data base

• All bills paid on time
• Thorough screening and hiring of your on-site personnel
• Efficiency studies that will reduce expenses and increase income.
• Risk management
• Preparation and service of legal notices.
• Periodic comparative market analysis of current rental values.
• For any additional services, like court appearances, consultations, etc., our firm charges its regular clients a discounted fee of $150 per hour.
• Our staff is available Monday though Friday, 9AM – 5PM, and evening upon request.  We are available weekends by phone and appointments.  We have an emergency night and weekend number with a quick response.

Signing The Lease

Once you are approved, you will be notified by phone and we will schedule a lease-signing appointment at the property.  All adults must sign the lease.  At that time, money for the first month’s rent, any applicable pet, cleaning or other fees and deposits will be collected.

Fair Housing

It is unlawful to discriminate against any person based of race, color, religion, sex, national origin, handicap, or familial status.  We strictly adhere to this policy.

RENTAL RULES

1.     Leases – Leases are for a minimum of six months, unless otherwise stated.  All Leases require a 30-day written notice to vacate even if the move is in conjunction with lease expiration.  Residents must allow property to be shown during notice period, or 30 days notice period will start upon vacancy.  We do not break leases for a voluntary move; any resident vacating during the initial lease period for reasons other than official military transfer orders will be charged a fee equal to ½ months rent to cover extra processing costs in addition to being liable for any lost rent, the costs if  re-renting  the premises, and forfeiting the security deposit.

2.     Rent – All rents are due in full on the 1^st of the month.  They will not be considered late if in by the 5^th.  Rent paid after the 5^th of the month must be by money order and include the correct late fee (10% of he monthly rent). We are not on a bi-monthly system and do not accept paying ½ the rent on the first and ½ on the 15^th.  Please notify the company if you anticipate any problems paying the full rent on time.   

 3.     Insurance – The landlord/property owner carries a fire policy that covers the dwelling only.  Insurance coverage for the contents (i.e. your furniture, jewelry, guns, etc.) must be provided by the resident. Owner recommends that resident obtain liability coverage also to cover negligent or accidental acts by resident, family, and /or guests.  

4.     Maintenance – Routine Maintenance such as replacing faucet washers, cleaning gutters, replacing furnace filters and lawn and shrub care is the responsibility of the resident.  All repair calls must go through the office or be submitted through the online Reporting System.  A repair deemed to have been made necessary by the resident (i.e. a kitchen drain stopped up by grease) will be billed to the resident.  No charges many be made to the premises without PRIOR approval of the property manager – including contact paper in cabinets, wallpaper, painting, taking out or adding plants, etc.

5.     Pest Control – If a pest control problem exists at the time a resident occupies a house, we will have a professional pest control company spray the property one time at the owner’s expense.  Any additional spraying/treatments after occupancy will be the responsibility of the resident.  Any dangerous pest such as scorpions, killer bees and fire ants must be reported to the management company.  All properties are considered and tenants agree that the properties are free of Bed Bugs prior to move in. 

6.     Inspection – You will receive a copy of the Move In Inspection Report completed at move-in.  Please verify the discrepancies noted on the survey.  If there is any other items of damage to those noted on the survey, please make a list in writing of the additional ones and submit it to the office within five days of taking possession of the house.  This survey will be used as a comparison for the one done at the time you vacate.  If you find something that does not work, you may call in a work order to the office or submit through the Online Reporting System.

7.     Cleaning – When the property is turned back over after you vacate, it must be clean.  This includes (but is not limited to) the stove, oven, and refrigerator must be cleaned, the carpets professionally dry-cleaned, bathrooms clean, cabinets cleaned inside and out, woodwork cleaned and wall spots cleaned if necessary, and the windows to be washed inside.  All trash is to be removed and may not be left outside for later pick-up by garbage collectors.  A checkout guide will be sent to you when we receive your 30-day notice.  Any residue or smell from pets, cooking, smoking, etc. must be eliminated or will be considered as damage.  Call management for a complete cleaning list.

8.     Checkouts – Checkouts will be done during the business week.  The tenant will be responsible for rent until the keys are returned and/or the end of the lease period, whichever is later.  Resident is to clean house and have it ready for final and only survey, and then bring keys to the office to terminate their possession of the house.  Surveys will be done within three (3) business days.  Deposits will be refunded within 30 days, minus repair estimates or cleaning done.  Utilities must remain on until inspection and any cleaning is done.

9.     Helpful hints –  For those who have never had the acrylic or fiberglass tubs before, please do not use scouring powder to clean them.  It will ruin the finish.  There are special cleaning products for these units.  Also, for houses with fireplaces/wood stoves, the resident living there is presumed to have used them (during winter of course) and will be billed for the annual cleaning in the spring.  If you do not use it and the chimney-sweep verifies that it was not used since the last cleaning, then there will be no charge.   If the oven is self-cleaning, please do not use oven cleaner on it.

 1.     We do business in accordance with the Federal and State Fair Housing Laws.  Realty World Platinum is an equal opportunity housing provider.

2.     We do not permit water filled furniture on the second floor of the structures built before 1978.  For any other water filled furniture or fish tanks the residents must carry rental insurance.

3.     If pets are allowed, a pet deposit will be charged and the tenants must carry rental insurance.  A pet inspection program fee of $150/ year from tenant due at lease signing to Realty World Platinum.

4.     We allow no more than two people per bedroom and one person for each additional room.  E.g.:  a 3-bedroom house with a living room and a family room will accommodate a maximum of 8 people.

5.     All prospective tenants age 18 and over must fill out a rental application and pay the nonrefundable-screening fee of $30 in the form of Money Order or cash.  Incomplete or illegible applications will be rejected.

6.     Our screening process includes:

a.     Verifying information provided on the rental application

b.     Contacting present and previous landlords for rental history

c.     Checking with financial institutions.

d.     Obtaining credit reports from one or more credit agencies.

e.     Reviewing public records, including court records and the Unlawful Detainer Registry.

7.     We accept the first applications that meet our minimum requirements, and pay a holding deposit equal to the security deposit. 

Applicants meet our acceptance policy if they:

a.     Earn a gross monthly income equal to or greater than 2 ½ times the monthly rent.

b.     Have one year of verifiable income.

c.     Have never been evicted.

d.     Have one year of verifiable, favorable rental history.

e.     Are able to pay required rent and deposit.

f.      Present valid picture ID and proof of Social Security number.

g.     Present proof of adequate income:  check stubs, bank statements; self-employed applicants must also provide audited tax returns and profit and loss statements.

h.     Have favorable credit history. No Judgments or Liens.

8.     The applicants may be denied residence for incomplete or false information on their rental application, or the failure to meet some of our minimum requirements, we might consider approving the applications by requesting a higher deposit of up to 2 times the amount of rent per month.