In what areas do you manage property?

Are you a member of the Multiple Listing Service (MLS)?

Do you charge me anything up front?

How much money do you keep?

Do you run a credit check ?

Are you licensed to sell real estate?

What bills do you pay?

Do I have to pay for any utilities?

Where does the money go when you collect?

I live out of the area, do I have to come in to your office?

Will you mail the money to me?

What if the tenant doesn't pay on time, I still have a mortgage to pay?

How do you handle evictions?

If there is an eviction, do I have to be there?

What if something breaks, do you fix it?

At what point do you call me for expenses?

What do you do when someone moves out?

What information do I get at the end of the year for taxes?

Will the property be advertised?

How often will you drive by my property?

I prefer not renting to people with children.

Can I choose to rent to non-smokers only?

Do I have to rent to people with pets?

What are your fees?

Do you offer a discount if I have more than one property?

OK, I like what I see, what is the next step?

   
   
   
   
   

In what areas do you manage property?

 

Thousand Oaks, Simi Valley, Westlake Village, Lake Sherwood, Agoura Hills, Newbury Park and Moorpark.

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Are you a member of the Multiple Listing Service (MLS)?

 

Yes, we are members of the Conejo Simi Moorpark Association of Realtors Multiple Listing Service which uses the data base for the entire area.

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Do you charge me anything up front?

 

Not unless your unit needs work and you want Property Management Realty to pay for the work on your behalf.

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How much money do you keep?

 

We usually keep just what is needed to replace a water heater in the trust account, or about $500.00.  Some landlords want us to keep the security deposit, so when the tenant vacates, they do not have come up with the money.  Some landlords want a check at the end of the year for Christmas shopping. It is your money,you tell us what you want.

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Do you run a credit check ?

 

Yes, we run an extensive credit report check is done to determine the qualification of a prospective tennant.

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Are you licensed to sell real estate?

 

Yes, I am a licensed real estate broker.  we sell property for our landlords, do 1031 exchanges and work as a buyer’s agent.

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What bills do you pay?

 

Property Management Realty will pay any bills that you want paid that pertain to the property.  Mortgage, HOA, pool, gardener, taxes, insurance.  As the owner Property Management Realty suggests you maintain as much control over your property as you feel is appropriate, (mortgage, taxes).

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Do I have to pay for any utilities?

 

When your unit becomes vacant Property Management Realty will put the utilities in your name C/O Property Management Realty and the bills will be mailed to our office.  The accounting is paid through the Property Management Realty trust account.

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Where does the money go when you collect?

 

All money collected is put into a TRUST ACCOUNT.  This account is one checkbook, separated from Property Management Realty’s personal account.

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I live out of the area, do I have to come in to your office?

 

No, with FAX, e-mail, and U.S. mail, the needed paper work can be exchanged with out any problem.

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Will you mail the money to me?

 

From your trust account, money can be forwarded to you monthly or when and where you want it.

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What if the tenant doesn't pay on time, I still have a mortgage to pay?

 

Yes.

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How do you handle evictions?

 

When an eviction comes up, we serve the 3 day to pay or quit, if that does not work, we turn the file over to one of two eviction attorneys.

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If there is an eviction, do I have to be there?

 

No, as your Property Manager, we have the authority to go to court on your behalf.

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What if something breaks, do you fix it?

 

Our responsibility is to manage the financial interest of your property.  We will hire out for repair work when you need help but we do not do “maintenance” work ourselves.

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At what point do you call me for expenses?

 

When you set up your rental with Property Management Realty, you set the amount of money that can be spent without calling you each time.  If unexpected damage occurs, and therefore expenses are above the approved amount, you will receive an email or phone call authorizing the purchase.

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What do you do when someone moves out?

 

If the property is under Property Management control, we inspect the property for damages, repay the security deposit, order on the utilities, contact the needed vendors to get what is needed repaired, and/or painted. We oversee the vendors, pay the vendors, at the right time, start advertising for a new tenant. Or if the owner wants to sell, we will put it on the market for sale for them.

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What information do I get at the end of the year for taxes?

 

There are 3 types of property management statements.  One is a Quick Report, that is just like your check book ledger, One is a total of the monies that came in, and a separated account total, and the last one is a transaction report, that show every transaction in the separate account.

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Will the property be advertised?

 

Yes, it will be advertised in the Conejo Valley MLS and flyers are made and sent out to the Conejo Valley Real Estate agents.

We will also run an ad in the Ventura County Star classifieds and on the Internet.

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How often will you drive by my property?

 

As a general rule, we will stop by the property every other month.

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I prefer not renting to people with children.

 

You can only deny renting to a family with children if your property is in a development for senior citizens age 55+ and is written in the CC&Rs.

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Can I choose to rent to non-smokers only?

 

Yes

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Do I have to rent to people with pets?

 

No

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What are your fees?

 

There are two basic fees, one is to find a tenant; the other is the monthly charge to manage the unit.

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Do you offer a discount if I have more than one property?

 

Sometimes

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OK, I like what I see, what is the next step?

 

E-mail me, FAX me, or call.  We will need the address if the unit is vacant or not.  We will need to see the unit to determine what needs to be done. If the unit is occupied, we will need a letter from you to introduce Property Management Realty to your tenant so that we can see unit.  Once we have seen the unit, we can speak more in depth regarding the next step.  Once we have some feeling of what you want done, we will get the paperwork to you.

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