BECOMING OUR CLIENT
At T&H Realty, we strive to be totally transparent with our Clients and prospective Clients.
One of our core values is “Always Educating and Advising.”
Generally, this starts well before we even speak to potential Clients.
As you may know, our website is LOADED with information… from our detailed pricing breakdown, as well as other informative, insightful content.
We want our current Clients to have a firm understanding of our processes, and prospective Clients to know what we’re all about even before signing with us.
HOW RENTLY GETS YOUR HOME RENTED QUICKER
Technology has come a long way since we started in the real estate business back in 2000.
Self-Showing services are one of many new technologies that have come to the forefront of the rental property industry in the last few years. Simply put, these services have changed the game when it comes to showing rentals.
Basically, Rently is a self-showing service that uses a smart lock box system which allows Renters to electronically schedule viewings of rental properties completely on their own. It offers Property Managers and Owners a way to automate their showing process so that they don’t have to be present for every tour.
I know what you may be thinking, “random strangers in my property alone???”
Let me assure you that Rently has precautions in place to protect your asset.
When prospective applicants register to view the home, they are required to upload a photo ID as well as input their credit card information, and the two must match. To ensure it is a working card, Rently charges a .99 cent fee and does not allow prepaid cards. So, in case there is an adverse event where they do cause damage, we have their financial information as well as photo ID.
In all the years we’ve been utilizing Rently, we haven’t had a single issue where damage was caused and the Owner Client suffered from it.
In fact, we’ve had multiple instances where prospective applicants have called us to report issues, such as no heat, which have actually saved our Clients from suffering damages.
Trust me when I say, the benefits FAR outweigh the risks.
DO WE MAKE MONEY ON MAINTENANCE?
A question we occasionally receive from Landlords interested in our services revolves around maintenance.
Specifically, do we make money on maintenance?
The answer is yes.
We aren’t ashamed of it.
We aren’t going to hide from it.
The reality is that, to provide the level of service WE want to provide and the kind of service our Clients have come to expect, we HAVE to monetize our maintenance activities.
Check out this video to learn more:
TAKING OVER MANAGEMENT OF AN OCCUPIED PROPERTY
Prior to 2017, almost all the homes we placed under our management were vacant. Occasionally, we picked up occupied homes, but not often.
However, that’s all changed.
Now, a significant portion of homes we take on are occupied… generally from other management companies in Central Indiana.
As a result, we’ve created detailed processes on the proper way to onboard an occupied property.
Bottom line: We’re pretty good at it.
- First, upon assuming management of the home, we will provide a checklist of items we need. You, as the Owner of the property may have some of this information, but generally we’re getting this data from the exiting management company.
And the reality is that some PM companies aren’t overly cooperative when they are losing business. We work hard to get what we need, but sometimes we may need you to nudge a bit as well.
And as I’m sure you can appreciate, getting the proper documentation is ESSENTIAL to effectively managing your Tenant.
- Once we start receiving information, our Office staff will go to work on a number of issues concerning your Tenant.
- Your assigned Property Manager will also schedule a site visit to the property. We generally like to schedule this visit within 30 days of assuming management.
During the site visit, the PM will produce an Onboarding Report with dozens of pictures and note condition issues or lease violations if they exist. We may offer other suggestions that we feel are appropriate to maintain and/or protect your asset.
WANT TO SPEAK WITH A MEMBER OF OUR TEAM?
TAKING OVER MANAGEMENT OF A VACANT PROPERTY
Vacancy, as we discuss over and over, is the single biggest drain on an investor’s return.
We’re on the same page with you, and our goal is to get the property in rent-ready shape and on the market as soon as possible.
However, it’s in no one’s interest to begin showing a property that needs work. In today’s market, prospects expect to view a home that shows well and is, essentially, ready for occupancy.
- With that in mind, the first thing we will do is put your property in “Coming Soon” mode.
In a Coming Soon scenario, we place your property on our website and allow potential Tenants to sign-up for a wait list. Once the property goes “live” and showings are permissible, the Rently system notifies everyone on the wait list so they can schedule showings.
This is a very powerful system and it WILL, in almost every case, reduce your vacancy.
- Next, your assigned Property Manager will conduct a thorough and detailed property evaluation and create a report, which will be available to you on your Owner Portal.
Keep in mind… we’ve done this a VERY long time. We know what Tenants want. We know the statutory requirements as well.
We don’t expect the Taj Mahal. What we do expect, however, is for you to take care of all safety issues and to bring the home to minimum HUD standards. Our Property Managers will recommend repairs that fit the rent range of your property and will help your property compete with other comparable rental properties in the area.
- Once we agree on what issues need to be addressed, we will work with our highly trusted, established Vendor Network to get bids.
Once we’ve confirmed the scope of work and agreed upon the numbers, it’s time to make a financial contribution to your account.
Our Owner Portal makes this simple and easy.
- Once the contribution is made, we’ll give our contractors the go-ahead.
Our team communicates daily with each other on the status of projects. We’re aggressive marketers, so as soon as your work is completed, we’ll visit the property and have it fully marketed and ready for showings right away.
MARKETING YOUR RENTAL PROPERTY
Once we’ve taken over management of your property, gotten all of the necessary paperwork in order, and have it in rent ready condition, it’s time to show it off to the world.
We pride ourselves on having one of the most comprehensive and successful marketing plans in Indianapolis. In fact, we typically rent our homes 2-3 weeks faster than our collective competition.
The first order of business to getting your property marketed, is for our Leasing Manager to visit the home and take all of the photos that we will use to represent the property online.
Once the Leasing Manager is satisfied that all necessary photos have been taken and features documented, they will put a Rently Lockbox on the door before departing.
We advertise listings on:
- Our website which receives over 10,000 views per month
- Syndicate websites such as Zillow, Trulie, HotPads, Realtor.com, and Craigslist
- The MLS
We have multiple employees who are on standby to respond to every single inquiry that we receive.
Don’t underestimate the value in this.
With the internet, it’s simple to market a home to a wide audience.
Promptly responding to those leads, however, is a much different story.
We answer every call, return every email, and will proactively reach out to engage with prospects.
These actions, generally, is what will lease your home faster.
BEST IN CLASS TENANT SCREENING
Out of the many, many tasks a Property Management company completes, Tenant screening is – hands down – one of the MOST important.
The people who end up residing in your property can make or break your investment and Fair Housing is not something you want to find yourself violating.
Finding high quality Tenants is vital and something we take very seriously.
We’ve developed a successful system here at T&H and wanted to share it with you so that you are aware of how we will screen potential Tenants that apply for your property.
So, after your home is made-ready, marketed, and showings occur, the goal is for applications to start arriving right away.
We currently process all of our applications in-house and follow a very strict screening procedure.
MANAGING THE MOVE-IN
Getting the news that your property is about to be occupied is probably the best thing you’ll hear all day.
However, there are a lot of steps to take between approving an applicant, and the physical move-in.
Not to burst your bubble, but there are quite a few things that can go wrong during the time an applicant is approved and the actual move-in.
You just can’t predict the future when you’re dealing with such a wide variety of individuals.
But not to worry.
We have developed a system that helps mitigate potential issues, and our team is a well-oiled machine that works together to provide a smooth process for potential Tenants.
- Once we approve an application, our Leasing Coordinator will reach out to the applicants to inform them of our decision.
- Assuming the applicants are still on board, the first order of business is to discuss the security deposit required along with the move-in date.
- If everyone agrees with both the move-in date and Security Deposit, the Leasing Coordinator will send the Lease out for signature.
- Once the lease has been signed and the Security Deposit has been paid, the Leasing Coordinator will have a Property Manager visit the home within 5 business days to conduct a walk-thru.
- Once the approved applicant has turned in all required information and documentation, the Leasing Coordinator will schedule a time for the Tenant to come to our office to pick-up keys and go over a few important details
It’s the grease on the the investor’s skids.
The fuel to the engine.
Without it… well, there’s no reason to own rental property.
And because of that, we take rent collection very seriously here at T&H Realty Services.
Below is a basic overview of our rent collection process. For more details, check out the full article.
- For all Leases we sign now, rent is due on the 1st day of the month and considered late on the 2nd.
- If rent is paid late, we charge 5% of the total balance as a late fee on the 2nd of the month, and then 1% of the balance for each additional day.
- In addition to late fees being assessed to the Tenant, we have a whole fleet of collection procedures we utilize.
- System generated notifications
- Email notifications from staff
- Phone calls
- Occupancy checks
DAY-TO-DAY MAINTENANCE PROCESSES
So, your Tenant has been screened, the lease is signed, we’ve conducted the move-in, and you’ve started seeing income in the form of rents.
Things are going according to plan.
That is, until we get a phone call from the Tenant that goes something like this:
“Help! We woke up this morning and there’s water pouring through our ceiling!”
“We just got back from dinner and it’s 45 degrees inside our house. We can’t get the furnace to work at all.”
Maintenance issues are some of the biggest concerns for Investors because they are, of course, associated with expenses that translate into lost cash flow.
We get that.
We know that as far as expenses go, maintenance expenses are some of the largest and most frequent you’ll face.
And because of that, many of you want to know exactly how we’re going to handle this very important aspect of your investment.
So, we decided to give you a clear look at how we handle maintenance issues here at T&H Realty Services on a day to day basis.
INTERESTED IN LEARNING MORE ABOUT OUR PRICING?
NAVIGATING THE OWNER PORTAL
One key to running a successful business, is having the proper tools.
We provide these tools in the form of our Owner Portal.
This business system is the most valuable resource that you will have access to as a Client of ours.
We believe in 100% transparency with our Owner Clients.
And the Portal helps provide that.
Essentially, the Owner Portal is an online account that you can access 24/7 to see anything and everything related to your properties.
UNDERSTANDING MONTHLY STATEMENTS
Here at T&H, we provide a monthly statement to our Clients.
Owner Statements provide you with vital financial information and give you a detailed breakdown of how your investments are performing.
Click here for a quick breakdown to help you understand what you’re looking at when you receive these statements every month.
Renewals are a Landlords best friend.
And as we’ve mentioned in other blogs, renewals are a win-win-win situation, so we do our best to make as many as possible happen.
I say renewals are a win-win-win for the following reasons:
You don’t have to put out any money for turnover costs or suffer any vacancy.
The Tenant doesn’t have to deal with the cost and hassle of moving.
Each member of our staff gets a year end bonus dependent on the amount of renewals we have, so the more the better!
For any lease that we renew for a term of 6 months or longer, we charge a $250 fee. Learn more about our renewal process and why we charge this fee!
LEASE MANAGEMENT AND ENFORCEMENT
Usually, when you think of what a Property Management company does, the first things that likely come to mind are collecting rent, handling maintenance issues, conducting move-ins, and other notable events.
And, clearly, those are are important functions.
But, you may not even realize all of the smaller, in-between tasks that come with the job.
The tasks associated with managing and enforcing the terms of our Lease make up a big part of what we do for you as a rental property owner.
The key, obviously, to managing this minutiae comes down to a strong Lease. To use a cliche… the devil is in the details.
A strong Lease not only sets expectations and standards for the Tenant, but it protects you and your asset.
And even with a strong Lease, you must have the systems and resources in place to enforce it.
Lease violations, addendums, and lease breaks are the 3 major things that we deal with on a regular basis.
EVICTIONS AND COLLECTIONS
Evictions, as you might guess, require significant care from our team, and we are prepared to communicate with you heavily until the situation is resolved.
Rest assured that we’re here to expedite the process and get your property re-rented as quickly as possible.
From filing eviction, to representing you at the hearing, to collecting money for damages, we will facilitate every aspect and be in constant communication with you the whole way through.
MANAGING THE MOVE-OUT AND TURNOVERS
The process of moving a Tenant out and getting the home in rent-ready condition again is relatively involved and our whole staff puts in a lot of time and effort to coordinate everything for you in the most efficient manner possible.
You want to minimize vacancy, and so do we.
If you’re not getting paid, we’re not either.
Let’s take a closer look at our move-out and turnover process so that you can have an overall better understanding of how we handle these big events for our Clients.
HANDLING SECURITY DEPOSITS
At T&H Realty Services, a key part of our Property Management service is to provide our Owner Clients with the highest degree of protection for their asset.
Clearly, obtaining a proper security deposit from your Tenant is a big part of this.
A security deposit is one of the most important lines of defense for Landlords. A security deposit not only protects the property, but also the Landlord’s finances should anything be damaged during their renter’s lease period.
We firmly believe that you should never charge less than 1 month’s rent, no matter what.
I know… lowering the deposit is oftentimes used as an incentive to attract Tenants. But, trust us, it can burn you big time in the long run.
TERMINATING YOUR CONTRACT
While we hope to remain your partner for years and years to come, there will inevitably come a time when we part ways.
Terminating a contract is never something we look forward to, but we understand that it’s a natural part of the investment process.
And when it’s time to end your contract, we want to make sure you are handled with the same care as we provided when you began the relationship with us.
We have identified 3 main reasons why you may want or need to terminate your contract and the process involved in each.
- You want to sell your property
- You want to move back into your property
- We’re a bad fit
USING T&H TO SELL YOUR RENTAL PROPERTY
As an Indianapolis rental property investor, there will inevitably come a time when you decide to sell one, or all of your properties.
We realize that this is a natural part of the rental investment cycle, and so we have put processes and resources in place to provide the best sales experience possible for our Clients.
As a fully licensed brokerage, we can facilitate the entire home selling process for you.
We provide an agent with years of experience, proprietary insight and knowledge about your property that another agent would not have, best-in-class marketing, and many other added benefits.
What Our Clients are Saying
We greatly value the input given to us by our customers: Owners and Tenants alike.
Our staff works very hard to ensure each individual has an enjoyable experience
with our company and we strive to make things right if we fall short of expectations.