Real Property Management Greater Madison Metro

This of course varies. Our average turnover timeframe in 2018 was 11 days. However, depending on how aggressive we want to be with the market rent, it can take longer. All of these factors and options are discussed during the onboarding process, where we can decide together how we’d like to proceed and what our goals are for the property.

This problem is best addressed before it becomes a problem, via quality tenant screening. We utilize a nationwide credit and criminal background screening, in addition to 3rd party income verifications and housing reference checks. Taking the time to be thorough in this process will help avoid most rent payment issues. Still, this business is not without risk completely, so for that we have several options. A popular option is to take advantage of is our Eviction Protection Program, which is essentially a $14 per unit, per month insurance. With this protection, we cover the full cost of an eviction up to the Writ of Restitution and any necessary compensation to the Sheriff’s Dept. for a physical removal, which an eviction very rarely gets to. Without the protection, our current rate for an eviction through our legal team is $450, but that is subject to change at any point.

Yes we do! Property income/expense accounting is part of what’s covered in our management fee. Any bills we pay not directly related to maintenance of the property are paid and accounted for free of charge (utilities, insurance, municipal, taxes, etc.).

Of course! It’s your property after all. You will set a maintenance limit for your property (min. $300), and any non-urgent maintenance reasonably expected to exceed that will be communicated with you BEFORE taking place. In addition, the property manager assigned to your property will have built a relationship with you, and in doing so, will have a good idea of your specific preferences. So for certain items, such as cosmetic or other non-essential requests from tenants, it’s likely that they’ll communicate that with you regardless of the expected cost, if that’s what’s desired. It’s just good practice! You also have the option to be the primary maintenance contact and take care of any and all maintenance yourself, and just loop us in when you need us. In this arrangement, we continue to be your management agent for rent collection, tenant contact, lease enforcement, accounting, etc. This is uncommon, but we’re fully capable of working with “handyman Landlords” who prefer to no longer deal with the person-to-person contact issues but still desire to roll up their sleeves for the maintenance.

Yes, and we bill between $45-$65 per hour depending on the scope of the work. This form of maintenance will represent most repairs necessary on a rental unit and is highly cost effective. Any 3rd party maintenance necessary is billed with a minimum 10% contractor markup (standard practice).

Average maintenance cost is a very tough question. After removing capital expenditures from the equation (new roofs, HVAC replacements, new driveways, etc.), across our portfolio, the average maintenance cost per unit in 2018 was approx. $615. Of course, this can vary greatly. It can be much more if a turnover takes place over the course of the year, or if the property is older, and of course much less if it’s newer and/or has higher end trim and appliances or has warranties in place. The important thing is that if you have decided on renting out your home, if you have a reputable property management firm in place, total cost to you in most cases for maintenance will be less than if you had to coordinate yourself, especially when you input your time in to the equation.

We pride ourselves in our approach to offering a tailored service platform to each and every one of our owner clients, so with that comes pricing based on your specific property/portfolio. The truth is, we simply aren’t able to offer the level of service that we can by using a blanket pricing. Every property/portfolio is different and should be treated as such. Once we conduct a no cost rental analysis of your property, we can provide you with not only a thorough comparable property report, but an exact management and leasing fee cost quote.