WHAT PROPERTY OWNERS CAN EXPECT FROM CLASSIC HOMES REALTY, INC

The purpose of this section is to present the benefits our property owners can expect to receive from Classic Homes Realty, Inc.  In establishing a personal relationship with our customers, it is important that each party understands exactly what is expected of the other.  Our primary objective is to attain the goals and objectives of our customers and their rental properties.

We believe that by familiarizing our customers with our administrative process of how we can lease and manage your rental property, we can avoid surprises that could occur later on.  It is important that you realize that we will move forward with our administrative property management process as outlined herein, unless you otherwise direct us in writing.  Therefore, it is to your benefit to review and understand the following services that are automatically provided and instituted by Classic Homes Realty, Inc. for the benefit of you and your property.

The following is an outline of some of the benefits and services that you as our customer can expect us to automatically provide and institute on your behalf:

LEASING

• You can expect that we will place our attractive “Home for Rent” yard sign on your property (if allowed) prior to any known vacancy, or immediately, if you have just listed your rental home with us.

• You can expect that we will advertise your vacant property in the local newspaper.
• You can expect that our Rental Associates will schedule showings of your property seven (7) days a week, to all prospective renters until your rental home is leased.
• You can expect that all rental applicants will be subjected to:

1.                  A credit report on each adult rental applicant

2.                  An eviction search of the central Florida public records to ensure that the applicant has not been evicted in the preceding seven (7) years.

3.                  A verification of the applicant’s employment or income.

4.                  A Florida “Criminal Background Check”.

• You can expect that we will lease your property at the asking amount of rent, or higher.  You can expect that we will not lease your property at a lower amount, without first obtaining your permission.
• You can expect that once the rental applicant process is approved, we will complete and execute the lease agreement prepared by our attorney and give the tenants possession of your rental home.
• You can expect to be notified by our company that your property has been leased.  A copy of the lease agreement will be sent to you once fully executed.

Lease Renewals

• You can expect that we will attempt to renew the tenant’s lease at least 60 days prior to the lease expiration date.
• You can expect that we will renew the tenant’s lease for another year at the same or slightly higher amount of rent, if possible.  We will not renew the lease at a lower amount, without your specific permission to do so.
• You can expect that we will conduct an interior inspection of the home prior to renewing the tenant’s lease.
• You can expect that we will place our “Home for Rent” sign and begin showing the property for lease in the event the current tenants are not renewing their lease.  You can expect this to take place 30 days prior to the tenants vacating.
• You can expect that we will renew the resident’s lease agreement, or re-rent your property to new residents, unless we have a written directive from you not to renew or re-rent the property.

Rent Collection & Delinquencies

At Classic Homes Realty, Inc. we do not tolerate the delinquent payment of rents.  We are careful to explain this policy to new residents in order to avoid any misunderstandings that might arise later.  You can expect we will make every effort to collect rents timely.

Rent Processing & Accounting

At Classic Homes Realty, Inc., our property management software is the top property management software in the industry.

• You can expect to receive monthly, a computerized report showing all income and expenses of your rental property.
• You can expect to receive a year-end summary statement for your tax purposes showing all of your yearly income and expenses and categorizing said income and expenses.

Property Maintenance & Repairs

Rental homes must be properly maintained in order to preserve the value of the property and maintain a positive relationship with the tenants.  Florida also has laws that require landlords to comply with certain basic maintenance and repair items. We expect our owners have their own lawn, pest, and pool companies in place while we have the property listed.

• You can expect Classic Homes Realty, Inc. will not do repairs to your property in excess of $200, without first obtaining your approval.  NOTE:  This excludes repairs deemed by management as emergency repairs or repairs that are required to be done to bring your property into compliance by law, governmental building, zoning and safety and municipal codes, or the restrictive and protective covenants of your homeowners association or repairs that, in the manager’s sole judgment, are necessary for the safety of the tenants or your property.  Manager shall proceed with these repairs and bring property into compliance, subject to funds being available in property owner’s account.
• You can expect that we will institute minor maintenance and repair items ($200 or less) as requested by rental applicants to secure a lease to quality tenants for your rental property.  To avoid possibility of major liability to you, we also change the locks between each tenancy. We do not handle pool and lawn care on a regular basis. You need to have that setup up with separate vendors.
• You can expect that during the resident’s tenancy, we will institute minor maintenance repairs ($200 or less) when deemed by us to be necessary for the preservation of your property and/or the continuation of the residents tenancy, usually occurring at the renewal of their lease.  If the property owner provides manager with third party service contracts or maintenance warranties, then manager shall contact said provider for covered repairs. Otherwise, manager shall assume that none exist.
• You can expect that we will only use repairmen, vendors and tradesman that are properly licensed and insured to handle the type of work being performed on your property.
• You can expect to receive copies of the invoices of all repairmen, vendors and tradesmen contracted to affect repairs on your property.

Communications

·         At Classic Homes Realty, Inc., we believe that communication is the essential element in the success of our company. 

• In today’s business environment, no one can assume to know or read the mind of another, or be certain of their goals and objectives.  To this end, we at Classic Homes Realty, Inc. have gone to great lengths to be accessible to our residents and property owners.  We are available by phone, fax, e-mail and direct to our desks.

Conclusion

Thank you for taking the time to review our brochure!  We believe it is time well spent, especially for our newer clients.  We trust that your experience with our firm will be a pleasant experience and look forward to working with you and your property in the future.  Please do not hesitate to contact us directly any time we may be of service.

Becky BurkeProperty Manager