Long Term Residential Management
Long term residential leasing is well positioned for investors interested in long term equity gains and wealth planning. This strategy has three core goals: risk mitigation, asset protection and tenant retention. Our standard operating procedures are well documented and geared toward our three core goals.
1. Rigorous Tenant Screening
Our rental application is completely custom to our portfolio, with qualification questions, credit reports by TransUnion, US national criminal background checks, eviction history, rental history, and income verification to ensure we are placing legit reliable, long-term residents. In addition to the “human screening”, we run every emotional support animal through a pet screening service. No more fake emotional support animal letters. Our screening service reviews and denies or approves all forms of assistance animals to meet the HUD & FHA standards. This is a service that protects the property owner.
2. Iron-Clad Leasing & Compliance
Contracts and documentation is vital to this business. We use standardized Tennessee Association of Realtor forms drafted in by the association’s legal team. All parties will know exactly what they are responsible for and consequences if a breach of the lease agreement were to occur.
3. Proactive Maintenance and Inspections
Maintenance costs can make or break a property’s ability to turn a profit. Deferred or failure to act proactively on major property systems or elements can mean a $3000 replacement bill when a proactive service call would have only cost $120. All tenant service requests are documented in writing with photos. Our inspections note detailed photos and commentary of the property’s condition before, after, and during every tenancy to keep a pulse on wear and tear vs tenant damage. If we need to charge a tenant for damages, we will have the documentation proof.
4. Money in the bank: Rent Collection and Disbursement
We collect rent online through our tenant portal for easy and reliable collection. Disbursements are sent to owners on the 15th of each month. Owner statements are provided with every disbursement for full financial transparency.
We handle all late payments with proper legal notices as required by Tennessee law.
5. Time to Cut Losses: Eviction Coordination
An eviction is every property owners worst night mare. We provide full hands-on coordination if we ever need to file an eviction on an occupying tenant. The first step if a breach of the lease occurs, we send the tenant a 14-Day Notice to Cure or Quit. It is vital to submit this notice as soon as a breach occurs to be able to file the eviction without delay after the 14 day period. In the event we have to go through with an eviction, we’ll be right there with you, advocating on your behalf, and making sure we have all the documentation supporting the eviction cause.
