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Property Management
The list below describes our baseline management services. Management Fees start at 6% of the collected rent, with a minimum of $60.00 per month. Leasing Fees are 50% of the first month's rent.
Contract
- The initial contract period is three months. If you choose to terminate Acona Property's services after three months, you are free to do so. Owners are not tied into a year-long contract, as with most other management companies.
Accounting
- Send a monthly statement (email and paper) of revenue and expenses to the owner
- Include original repair invoices with the monthly statement when available
- Remit a check of income minus expenses to the owner, or direct deposit in owner’s account
- Send yearly 1099 statement of rental income
- Year-end summary and detail reports of all expenditures, categorized in IRS Schedule E categories
Vacancies
- Determine property condition when the unit is vacant
- Arrange for cleaning and repair of vacant units
- Deduct damage or repair amounts from security deposit. Disburse remaining deposit to vacating tenant with itemized statement of deductions
- Place and coordinate rental advertising within the owner’s budget. We list vacancies on the MLS (Multiple Listing Service), as well as other websites (Realtor.com, Austinhomesearch.com, craigslist.org).
- Place appropriate signage on property to advertise vacancy
- Show vacant units to prospective tenants
- Review rental applications
- Check out the credit history, criminal history, employment history and rental history on rental applications
- Inform owner of approved tenants
- A leasing commission is charged when a lease is signed
New Tenants
- Meet with the tenant to sign the lease, and to receive security and pet deposits. Review the lease with the tenant, so that all lease responsibilities are clear.
- Coordinate the tenant move-in
- On move-in, give keys to new tenant, and review any special policies
Existing Tenants
- Collect monthly rent
- Respond to maintenance requests from tenants
- Verify that repair services are needed before calling repair personnel
- Take multiple bids for repair work when appropriate
- Arrange for repairs. Coordinate the repair work and costs with the service technicians.
- Execute eviction notices when necessary
- There are additional charges for evicting a tenant whom Acona Properties did not select or approve
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