Property Management

Property Management Services - A Complete List

The following is a list of the tasks Woodruff Property Management commonly perform for owners.

Rent collection

• Receiving rent
• Hunting down late payments
• Sending out pay or quit notices
• Enforcing late fees

Evictions

• Filing relevant paperwork to initiate and complete an unlawful detainer action
• Representing owner in court
• Coordinating with law enforcement to remove tenant and tenants possessions from unit

Legal

• Advise in the event of a legal dispute or litigation
• Refer owner to a qualified attorney when necessary
• Understand and abide by the latest local, state and federal legislation that apply to renting and maintaining rental properties.

Inspections

• Perform periodic inspections (Inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
• Send owner periodic reports on the condition of the property

Financial

• Provide accounting property management services
• Make payments on behalf of owner (Mortgage, insurance, HOA dues, etc.)
• Detailed documentation of expenses via invoices and receipts
• Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
• Provide annual reporting, structured for tax purposes as well as required tax documents including a 1099 form
• Advise owner on relevant tax deductions related to their rental property
• Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses

Maintenance, Repairs, and Remodeling

• We don't "Nickle and Dime" you.  We do not up-charge (add a fee too) invoices under $300.  This accounts for move than 95% of the maintenance we do for our clients.  Other companies may appear to have lower fees, but they will make it up by over-charging you for work preformed.  
• We have negotiated a less-than-street rate with all our contractors.  Typical savings are 10-20% off the invoice.  
• All of our contractors have been thoroughly vetted and meet our professional standards.  It is very costly to do have to do a project twice.  
• Provide and oversee an in-house maintenance crew
• Establish a preventative maintenance policy to identify and deal with repair needs
• Provide an network of licensed, bonded and fully insured contractors who have been vetted for good pricing and good work that is up to code.
• Assign jobs to different parties (in-house employees, handyman and professional contractors) based on who will do the best job for the best price.
• Maintain outdoor areas
  • Leaf and snow removal
  • Landscaping
  • Removing trash and debris
• Maintain and monitor a 24 hour emergency repair hot-line
• Larger renovation or rehab projects - We do charge 10% of the invoice from project management on large projects.  
  • Provide recommendations on how the project can maximize rental income.
  • Prepare preliminary cost estimates
  • Get multiple independent bids for the work
  • Act as general contractor overseeing the work

Tenant Move Out

• Inspect unit and fill out a report on the property's condition when the client moves out
• Provide tenant with a copy as well as estimated damages
• Return the balance of the security deposit to the tenant
• Forward any portion of the owner's portion of the tenant deposit to the owner or hold in owner reserves for repairs.
• Clean unit and perform and needed repairs or upgrades
• Re-key the locks
• Put the property back on the market for rent

This isn't intended to be a comprehensive list of property management services, but it should give you a fair idea of the scope of our property management company's activities.

We do all of this for you for the very fair price of 10% of the monthly rent - minimum $100 per month.