Property Management for Tampa Property Owners
At Advantage Realty, our licensed real estate professionals have been delivering exceptional property management services to owners for more than three decades. We work closely with every owner to determine what their property ownership goals are and how we can help.
Property owners appreciate our deep knowledge of the federal, state and local property laws. Our property managers maintain memberships and certifications with professional realtor organizations and remain informed about the latest regulations and best practices.
The professionals at Advantage Realty are also experts on the local Tampa market and have broad networks of quality contacts who deliver professional contracting services and discounted marketing rates.
One of the primary reasons owners turn to Advantage Realty is for convenience and peace of mind. Our professionals take care of all maintenance requests and emergency repairs, leaving owners with more control over their schedules. We also enforce rent collections and follow the proper procedures in the event that a resident fails to pay.
Professional Services and Policies
Your property is presented to the largest available rental market. This includes, but is not limited to, weekly rental list distribution to over 60 other rental estate companies and publication in the Multiple Listing System to include: www.realtor.com, www.trulia.com, www.hotpads.com, www.homes.com, and Automated Housing Referral Network for Military Personnel www.ahrn.com as well as yard signs. We strive to put emphasis on all of the military that make your property desirable and special.
We stay abreast of our current market conditions, which allows us to rent your property at its highest value.
We lease only to qualified, responsible tenants who have passed a thorough credit and reference check. A fee is collected at the time of application, which covers the cost of the credit check.
We take fair, appropriate security and pet deposits, which are held in an escrow account until they are either refunded to the tenant after successful check-out inspection or forfeited to cover damages caused by lease violations.
Proper lease agreements, deposits forms, late notices and other legal documents are used to provide you with maximum protection. We take care to explain our policies and procedure on an effort to minimize misunderstanding and potential problems.
Key control procedures protect you and the tenant against unauthorized entry.
Our rent collection policies are designed to provide maximum income from your property: All rent due on the first of each month, and is considered late if received after the fifth of the month. Late notices are sent on the sixth, and eviction proceeding are initiated if the tenant does not make immediate arrangements for the rent payment. Late rents are subjected to fees and penalties.
Our monthly management fee is automatically deducted from your account at the time the rent is posted, provided that the property is occupied.(We shall not deduct the fee while your property is vacant.)
Account and Monthly Statements
We provide you with concise, accurate, understandable monthly statements (ordinarily placed on-line two working days after the fifth of each month) of your account. In the event that you have more than one property with us, each will maintain a separate account. Original work orders and receipt will accompany statements for funds due above your minimum balance.
Year-end statements provide you with full, itemized and summarized records of all transactions, which simplify tax preparation for you or your accountant. As required by the Internal Revenue Service, a 1099 MISC form showing the total gross rent received on your behalf will accompany the year-end statement.
We will direct deposit your month rental proceeds into an account of your choice at no additional charge.
A thorough move-in inspection and inventory of all items part of the property is conducted before a tenant may occupy the property. The owner is required to inventory additional items that will be left for the tenant.
Inspections of the interior of the property are performed in accordance with the rights outlined in the lease agreement. The original Property Condition Report is used to identify any discrepancies, damage or missing items, or any maintenance items that are our responsibility.
Driving tour inspect the exterior of your property, which provides a reasonable idea of the condition of the property as a whole, and could alert us to a problem before a scheduled inspection.
An Inspection Failure Report is sent to tenants who fail an inspection. A second inspection is performed in 10 days. If a tenant has not shown good faith in correcting the listed items(s), we will begin proceedings to correct the problem at the tenant’s expense.
Maintenance and Repairs
Proper maintenance is essential to the value of the property. We provide constant supervision, routine inspection and regular maintenance to minimize major repair bills and protect your investment.
We use an outside network of qualified, competent independent contractors and vendors for repairs and maintenance services. We insist upon reasonable, competitive prices and prompt completion of work.
Routine repair and maintenance will be performed as needed based on our judgment. (We require that a minimum be held in your account for emergency repairs.) In the event of a major repair, we will obtain written estimates and notify you before we proceed.
Job request are put in writing and must be approved by the property manager before any work is performed. Our service providers will not perform any unauthorized jobs request by tenants. Work orders are fully documented and backed up with receipts.
In addition to your normal homeowner’s insurance policy, we require you to maintain an “Owner, Landlord and Tenant” (OL&T) liability policy to protect all parties against a wide range of losses caused by unintentional hazards or unsafe conditions on the property.
We make every effort to keep vacancies to a minimum by monitoring lease expirations carefully, never allowing our leases to lapse into automatic month-to-month extensions.
Approximately 45 days prior to a lease’s expiration, we send a Lease Renewal Notice, thirty day written notice form and any notification of necessary rent increase or lease amendments. These steps avoid unexpected vacancies and allow time to prepare and advertise if a tenant does not choose to renew. (A thorough check-out inspection is required before a tenant is released from a lease agreement.)
An extensive professional network allows us to provide all available exposure to a property minimize lost rental income. We encourage local leasing agents to show the vacant property to their prospective tenants, while strict key control maintains the security of the property.
Should you wish to sell your property, we have a pool of willing potential investors and stay abreast of current market conditions to minimize your selling cost and maximize your return. Frequently, selling to your current tenant reduces the cost of sale and minimizes sale-required repair.
If you wish to expand your investment, we can identify properties with high earning potential and tax advantages to provide cash flow without delay.