Silver Spring Property Management
Let us manage your Silver Spring rental property
The decision to rent your home is not easy. Most landlords are either members of the military facing deployment, a homeowner who cannot sell a house and is thinking about renting it out, or a real estate investor with lots of experience and a portfolio of properties. Whatever type of landlord you are, you need expertise to do it right.
Being a landlord is a fulltime job. You have to be prepared to approach it that way. Here are some of the things required of you:
- Pricing your home at a rent consistent with the market value and avoids long term vacancy
- Marketing your property in the right places.
- Compliance with all federal, state and housing laws in your advertising
- Screening applicants who are serious about renting your home
- Showing your property at times that are convenient for potential renters
- Stay in contact with prospective tenants after they have viewed the property
- Doing extensive background checks on applicants
- Writing a lease that is legally enforceable
- Collect and handle security deposits, placing them in escrow accounts
- Inspect and document the condition of the property before move in
- Understand and follow all landlord and tenant laws
- Respond to tenant repair requests and maintenance issues 24/7
- Schedule vendors for repair work
- Making payments to vendors for completed work
- Collecting monthly rent payments and chasing down late rent
- Keeping an accounting system of rent, expenses and income
- Handle problem tenants who cause damage or violate the lease or HOA requirements
- Execute evictions when necessary
- Regular inspections to ensure the tenant is taking care of your property and following the lease
- Collecting back rent from former tenants
- Completing a move out inspection
- Return the security deposit to tenants within required number of days
- Get your home ready during the vacancy for the next tenant
- Start from the beginning with a new tenant
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Before you embark on the journey of being a landlord, ask yourself if being a landlord is worth your time and resources. You probably have a full time job already, and a family that you enjoy spending time with. Do you really want to invest the time and energy it takes to manage property correctly?
Benefits of using Flat Fee Landlord
- Tenant Assurance Program guarantees the tenants we find for nine months
- We can place a highly qualified tenant in your home within 30 days, guaranteed!
- We have one of the lowest eviction rates in the industry at 1%
- Cancel for free if you ever become unhappy with our services
- No fees and costs upfront for you
- We charge one flat fee per month instead of a percentage of your income
- Your property management costs are 100% tax deductible
- No hassle management
- Automated owner statements
- Online Owner Portal Access
- Industry leading marketing tools
- 24/7 maintenance request handling
- Prompt Response to Tenant Requests
- Low vacancy rate
- Low time on market
- Industry specific local knowledge
What we do as your Silver Spring property manager:
- Fill vacancies
- Advertise your rental
- Handle tenant inquiries
- Background and credit investigations
- Application processing
- Lease signing
- Full service repair
- Rent collection
- Coordinate Evictions
Great property management firms provide landlords with comprehensive property evaluations. Providing great property evaluations is exactly what we do at Flat Fee Landlord. Most companies just “say” they did an inspection, Flat Fee Landlord provides landlords with a full inspection report complete with dozens-hundreds of photographs. Our goal is to provide our landlords with a report so comprehensive that it is as if the landlord actually visited the property themselves. Our Evaluations are completed at the beginning and end of each lease term. Additional evaluations are completed approximately every 4-8 months and more evaluations are available at an additional expense.
Having your property rented at the highest market value in the shortest amount of time is our number one goal. We limit the amount of vacancy to your home while providing you the highest amount of income available by the rental market. We take several marketing pictures of your property and syndicate your rental listing the most popular home rental sites on the internet. These sites include but are not limited to:
In addition to the top independent real estate websites, your home will be eligible to show up on other real estate firm’s websites.
Marketing your home is the first step to finding a well qualified tenant rent your home. We put a lot of emphasis in marketing your property. The marketing of your home is included in our tenant placement fee.
Tenant screening is the most important aspect of renting your property. Finding a tenant is easy; however, what sets us apart is that we have very strict and high standards for placing only the highest quality and qualified tenants in our managed properties. As a result of our due diligence, our company has an industry leading eviction rate of less than 1% all time! Additionally, we have one of the best security deposit return rates in the industry. Not only do your tenants pay rent on time, but they also do very minimal/if any damage at all to your home while they rent it.
To ensure we have the best tenant possible rent your home, we utilize our proven “Perfect10ant” verification system. The “Perfect10ant” includes:
- Credit score
- Income Verification
- Debt to Income ratio
- ID verification
- Past Evictions
- Address verification
- Interview previous Landlords
- Rental History
- Criminal History
- Employment History
Navigating security deposit laws and regulations can be tough. We will collect the security deposit prior to allowing the tenant access to your property and hold it in escrow during the lease term. Upon move out, we coordinate repairs as needed and return the security deposit balance to the tenant minus any costs for damage that exceed what is legally considered “normal wear and tear.”
Our team will prepare and administer a lease on your behalf upon your acceptance of an application. Both the landlord and tenant sign the lease; which will be uploaded to your client portal for access. We utilize a tightly locked and analyzed lease provided by our attorneys to best serve all parties involved in the lease. The lease preparation and administration will be handled by us so you can just sit back and relax!
Silver Spring Area Information
Silver Spring is an unincorporated community and census-designated place (CDP) in Montgomery County, Maryland, United States. It had a population of 76,716 according to 2013 estimates by the United States Census Bureau, making it the fourth most populous place in Maryland, after Baltimore, Columbia, and Germantown.
The urbanized, oldest, and southernmost part of Silver Spring is a major business hub that lies at the north apex of Washington, D.C. As of 2004, the Central Business District (CBD) held 7,254,729 square feet (673,986 m2) of office space, 5216 dwelling units and 17.6 acres (71,000 m2) of parkland. The population density of this CBD area of Silver Spring was 15,600 per square mile all within 360 acres (1.5 km2) and approximately 2.5 square miles (6 km2) in the CBD/downtown area. The community has recently undergone a significant renaissance, with the addition of major retail, residential, and office developments. Source From Wikipedia
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