9. Maintenance
To keep a property in a condition that keeps it marketable, periodic maintenance needs to be performed.
Service Agreements are set up with each property through local reputable service companies generally cover plumbing, appliances,
air-conditioning etc. RealVantage will assist in the set up of these agreements and will continue monitoring the account on
the owner’s behalf.
Tenants generally call with maintenance issues not within the parameters of the property
service agreement. This work is typically scheduled and completed within 24 hours to 1 week, depending on the severity of
the issue and the time constraints for performing the work. Emergency service is done on an as needed basis.
Services such as pool service
and lawn mowing can be arranged. Supervision and payment can be arranged by separate agreement and for an additional administrative
fee.
10. Preparation
of Property:
When a property
becomes vacant, a RealVantage representative walks the property and lists all repairs and maintenance items required
in order to market the home for rental. Estimates are prepared and owner is advised as to the scope of work to be done and
the associated cost. With the owner's approval, work is started and completed as expeditiously as possible to maximize
marketing time of the property.
11. Rent collection
RealVantage schedules all rents to be collected by the first of each month. In the event that a lease starts
within a month, a pro-ration of rent is collected. Although rents are due on the first of the month, there is generally a
grace period considered due to delay of mail, legal holidays etc... Should a rent payment not be made within this time
frame, RealVantage takes the following steps.
a: The tenant is contacted by
phone. Communication is very important and the reason for the delay may be legitimate. Payment, however will be demanded
for the following business day.
b: If payment is not received by the following
business day, a 3-Day Notice to "Pay or Quit" is placed on the door of the property. This is a legal requirement
to start eviction proceedings if it becomes necessary. RealVantage will contact you at this time to apprise you of the
situation.
c: If rent has not been received within three business days after posting
the notice, we take immediate action to start eviction proceedings.
A copy of all notices will be delivered to the attorney
and to the owner at this time.
12: Disbursements:
Payments will be sent to you between the 10th
and 12th of each month, subject to receipt of rental payments by tenants. Payment is done by ACH directly to your account.
It generally takes two business days for you to receive payment. You will be notified by email.
13. Eviction:
If the delinquent account is not brought current by the end of the three business
day period, the account will be turned over to our attorneys to start eviction proceedings.
Keep in mind, A full eviction process takes 4 – 8 weeks. Costs may vary however an uncontested eviction generally
runs between $600.00 to $850.00
When a tenant has chosen not to pay rent and has not vacated the property and
owner and RealVantage have chosen to proceed with eviction proceedings. RealVantage submits original lease document, original
3-Day notice and delivery service and appropriate documentation to the eviction attorney. After this point, any payments made
by the tenant will have to be made to the eviction attorney and not RealVantage. Payments will include any rent due, late
fees and attorney fees.
A copy of all notices will be delivered to the attorney and to the
owner at this time.
14.
Statements
We provide statements only when any deductions are done from the reserve account. This will detail all
expenses paid on the owner's behalf.
