Bay Capital Real Estate has been involved in property management since the 1960’s. We specialize in the management of apartment buildings and single-family homes in San Mateo, Santa Clara, and Santa Cruz, and Monterey Counties. Our property management fee is 5.0% of gross rent, or a per unit cost for larger buildings, with an initial leasing fee of 50% of the first months’ rent.
Set the market price and choose the best tenant
- Perform a detailed market analysis on the property and present a recommended rental rate.
- Document all interior and exterior amenities and take 20+ pictures.
- Offer recommendations on repairs and aesthetic improvements to maximize monthly rent.
- Discuss with owners the pros and cons of different lease terms to maximize property ROI.
- Prepare a unit for rent by managing the interior and exterior cleaning.
- Create ads tailored to the property and present to the owner for approval..
- Manage all incoming calls from prospective tenants and schedule showing appointments.
- Show prospective tenants vacant units throughout the week and weekend.
- Provide prospective tenants with rental applications that are legally compliant with fair housing laws.
- Perform a comprehensive background check to verify identity, income, credit history, rental history, etc.
- Manage lease agreement negotiations between tenant and owners.
- Supply all required California and San Mateo, Santa Clara, Santa Cruz, and Monterey County disclosure documents.
- Perform detailed “Move-In” inspection with the tenant and execute the Move-in, Move-out disclosure.
- Collect first month’s rent and security deposit and send to owner
Rent collection
- We use the Buildium Property Management software to electronically pull tenant rents and make owner disbursements within 3 days of the first day of each month.
- Sending out pay or quit notices
- Enforcing late fees
Evictions / Legal
- Refer local legal representation in the event of an eviction or litigation.
- Coordinate with local law enforcement to remove tenant and tenants possessions from unit
- 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) every 6 months to identify required repairs, safety hazards, code violations, lease violations, etc.
- Send owner periodic reports on the condition of the property
Financial
- Provide detailed financial accounting on each rental property
- Track all expense documentation via invoices and receipts
- Maintain all records (invoices, leases, inspection reports, warranties, etc.)
- Provide annual reporting, structured for tax purposes as well as required tax documents including a 1099 form
- Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses.
Maintenance, Repairs, and Remodeling
- Manage our 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
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 a property management company’s activities.