About our Rental Department and Owner FAQ's

Mailand Rental and Property Management.

OWNERS:
Mailand Realty can help find reliable tenants for your rental property. We list your property on the MLS, set up showings, and do a credit check on all tenant prospects. We can also verify employment and rental history for you.
When a tenant is found, we complete a lease on your behalf.

Our company receives 1/2 of the 1st months rent for locating a tenant for you, screening the tenant, collecting initial rent, pet deposits, and security deposits for you, and completing the lease On seasonal rentals, we charge 10% of the total rent to be collected in the total lease period.

If you would like us to manage your property, we will collect the rent each month on your behalf. We will arrange for minor repairs on your behalf using known vendors that we rely on to show up on a timely basis and charge reasonable prices. We will check on your property periodically to verify tenants are maintaining the property. If a tenant lapses and falls behind in rent, we will make every effort to collect your payment in a timely manner, we will submit past due notices and contact tenants regarding prompt payment. We receive 10% of the rent each month for this service.

Our realtors are experienced in marketing rentals and finding reliable tenants. Our property manager is fully licensed in Community Association Management and is fully qualified and knowledgeable on managing individual rentals as well as larger condominium associations. We are available 7 days a week to provide expedient service whether to show your property or contact a vendor for a repair.

Call us today for
Professional, Personalized, FULL Service...
321-253-0454

Bonnie DeCaro
Property Manager, CAM

Email: s.c.realtor@earthlink.net

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Owner FAQ’S

This “Property Owners Handbook” is designed to familiarize you with our administrative process.  It is our sincere belief that when you, as our client, understand this process, we can better serve your needs.

All relationships are established by written agreement between you and Mailand Realty.  All terms, conditions and provisions outlined in this handbook are subject to change or withdrawal at any time without notice.  You should look solely to your individual property management services agreement for actual services rendered.

The following index outlines the benefits, services and what you as our client can expect from Mailand Realty Property Management.

OVERVIEW:
Mailand Realty has helped many people like you realize strong financial rewards in the lucrative field of investment properties.  We have grown from managing individual residences and now manage condominium associations as well. We pride ourselves on giving each client and their property individual attention and care, that is what makes us unique.

The following section explains the many benefits and advantages of a full service, professional property management company.

PROPERTY PRESENTATION:
We present your property to the largest available rental market.  We are always aware of current market conditions.  This allows us to rent your property at its highest value.  We minimize your rent loss by advertising an available rental property through the Melbourne Area Association of Realtors Multiple Listing Service and/or the Realtors Association of Indian River County’s Multiple Listing Service.  All rental property listings appear on realtor.com as well as on our company website.  We use a broad range of advertising media, including signs, flyers, newspaper classifieds, and the Internet. 

PROPERTY INSPECTIONS:
A thorough property inspection is done at the time your property is listed with Mailand Realty.  Suggestions are given to the property owner to enhance the rental property to enable our company to find tenant’s in a timely manner. 

TENANT SCREENING:
We complete a thorough credit check through TransUnion. Based on the credit check we can also contact previous landlord's for a complete rental history and/or employment verification. Property owners make tenant selection based on this information.
We take time with each new tenant to explain the benefits and responsibilities of leasing a home from us. We provide you with protection through the use of a proper lease agreement, late notices, and other legal documents.

PROPERTY PROTECTION:
If your property is rented furnished, we maintain and update an inventory of all personal items in the home. A copy of the inventory is reviewed and signed by the tenant at the time the lease is signed.

The property manager routinely drives by each rental property to do an exterior inspection and will notify the tenant of any problems seen at that time. An interior inspection is done quarterly. Tenants are notified within 48 hours of a pending interior property inspection and the inspection is done with the tenant present.

MAINTENANCE:
We have a list of known qualified vendors who are trusted to show up promptly and provide service at reasonable prices. 

ACCOUNTING SERVICE:
We do all of the bookkeeping chores for you.  Our property manager keeps complete, accurate records of all income and expenses associated with your property.  A convenient monthly statement accompanies each rental disbursement providing you with a full, itemized record of all transactions.  Our end of year statement accompanies the 1099 MISC form and simplifies the job of tax preparations for you and your accountant.

INVESTMENT ASSISTANCE:
We keep abreast of current market conditions and active investors at all times.  We can help you spot undervalued properties, often with a mortgage payment lower than the rent, for an immediate positive cash flow.  Our extensive resources let us help you select an investment property that will meet your exact goals of the highest possible return and tax advantages. 

INSURANCE:
We recommend strongly that all tenants have renters insurance to protect their belongings in case of catastrophe.  Owners are encouraged to maintain an “Owner, Landlord and Tenant” liability policy in addition to your normal home-owners insurance policy.  This coverage protects the tenant, you, and us against a wide range of losses caused by unintentional hazards or unsafe conditions on your property.

RENT COLLECTION:
Late notices are sent to tenants when rent is not paid by the 5th day past the due date on the lease.  Late rents are subject to a $25.00 late fee as stated in the lease.  If the tenant does not make immediate arrangements for rent payment, a three day notice for eviction will be posted on their door. 

Rent disbursement is usually sent out 5 – 10 days after rent is collected after verification that funds have cleared our account.  A monthly statement accompanies each disbursement to inform you of monies collected and any bills that were paid during that month out of the rental funds collected. 

We will be happy to answer any questions you have about your account.  Please report any discrepancies you find within 10 days from the time you receive your statement.

TENANT PLACEMENT AND MANAGEMENT FEES:
The leasing fee and our monthly management fee is payable when the rent payment is received.  It is automatically deducted from your account at the time the rent payment is posted. 

Our tenant placement and management fees are as follows:
Tenant placement: 
Long Term:  ½ of the first months total rent
Seasonal / Short Term:  10% of the total rent to be collected in the lease term
Property Management: 
10% of the total rent collected each month

VACANCIES:
Vacancies are expensive for both of us.  We make every effort to keep our vacancies to a minimum.  We produce an attractive listing of your property to be given to prospective tenants and local leasing personnel.

We monitor lease expiration dates carefully and notify tenants a minimum of 45 days prior to lease expiration to verify that they would like to extend the lease or plan to move out.  If tenants are interested in extending their lease we notify owners immediately to inquire if a rent increase is requested before the new lease is negotiated and signed.  If the tenant plans to vacate the premises we put the rental listing back on the Multiple Listing Service within 30 days prior to vacancy.  The property must pass a thorough check-out inspection before the tenant is released from the Lease Agreement and the security deposit is returned.  This minimizes the preparation and turn-around time before your property is re-leased.  The inspection will not be made until the tenant has removed all furnishings and other personal belongings, and the tenant is not allowed to re-enter the property once the inspection is complete. 

We maintain careful control of your property while it is vacant.  Leasing agents must be a licensed real estate agent and we request they leave a business card at the property at the time of each showing.  All prospective tenants must be accompanied to the property by an agent. 

LEASING:
The security deposit is taken after the tenant has been approved by the owner. This is an act of good faith on the tenant’s part, and should the tenant not move into the rental unit, the deposit is forfeited to you as liquidated damages if the property was taken off the market and was unable to be shown.  An appointment will be made with the leasing agent and/or the property manager to complete the lease agreement and collect the remaining funds to complete the lease closing.  We have found that this extra personal attention to the tenant’s needs greatly reduces misunderstandings and eliminates many potential problems.  Also, this gives us a chance to answer any questions and to carefully explain the tenant’s responsibilities as well as our company policies and procedures.A thorough move in inspection is done with the tenant before your property is released to them.

We require our owners to maintain the home in as good as condition as if they were living there.  This includes interior and exterior painting, tree trimming and the upkeep of the appliances.   

SECURITY DEPOSITS:
As an additional protection, appropriate security deposits are always collected upon approval of a rental application by a prospective tenant.  Under no circumstances will we allow the deposit to be used as rent.

All security deposits are kept in a special escrow trust checking account, as required by the Florida Real Estate Commission regulations, until they are either refunded to the tenant upon the successful check out inspection of your property or are forfeited to cover damages caused by lease violations.

REPAIR AND MAINTENANCE SERVICE:
Timely, competent maintenance is the key to protecting your investment.  Our goal is to assist you in maintaining your investment property by providing a list of vendors known to us that are reliable and cost efficient.  The property manager will notify you immediately when maintenance request notification is received; and can help schedule the vendor to do the repair. 

WHY CHOOSE US?
Our people make the difference.  Personal relationships, experience, and know how.  Our agents are available to show rental properties 7 days a week at prospective tenant’s convenience.  Our outstanding accounting records assure accuracy.  Our services are tax deductible.  We save you time, money and aggravation in dealing with your rental property. 

Using our tenant screening process we enable you to find the right residents for your rental property. 

Throw your aspirin away and call us today!  321-253-0454.

Mailand Realty
2715 N. Harbor City Blvd. Suite 4 • Melbourne, FL
Phone: (321) 253-0733 • FAX: (321) 253-0731
Copyright © 2007

 

 


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