Frequently Asked Questions
Owners who are considering property management have many questions and concerns about how it works how it benefits them, what the property management company is responsible for, and what it costs. Here are answers to some frequently asked questions regarding our service.
WHAT SERVICE DOES A PROPERTY MANAGEMENT FIRM PROVIDE FOR THEIR FEE?
BRIDGE CITY PROPERTY MANAGEMENT SERVICE, LLC advertises your property for rent, screens applications through a credit and tenant reporting service, provides a written rental agreement which is continually updated to be comprehensive and in compliance with all landlord-tenant statutes, does move-in and move-out inspections, helps maintain your property in an up-to-date condition, collects rent, pays the property bills, provides the owner with a monthly statement of account, disbursing remaining rental funds to the owner each month. We also send necessary notices to the tenants and evict them if they neglect to pay their rent or in any way violate their rental agreement.
WHAT ABOUT INSPECTIONS?
BRIDGE CITY PROPERTY MANAGEMENT, LLC does regular drive-by inspections of your property, and annual or bi-annual interior inspections as scheduled, considering the length of occupancy, dependability of tenants, condition of exterior, rental violation, or specific owner request. These inspections also help to keep your property in the best condition possible.
HOW IS MAINTENANCE HANDLED?
BRIDGE CITY PROPERTY MANAGEMENT, LLC has Oregon licensed contractors who help to maintain all the properties and have repairs performed at reasonable market rates. We hire contractors who can perform any necessary carpentry, painting, appliance repair landscape maintenance and tenant turnover maintenance. We also work with many reliable licensed electricians, plumbers, and pump services. Our management agreement limits the amount of money we can spend without owner authorization; however, it may be necessary to exceed that amount in an emergency which involves essential services which are required by Oregon Law, if we cannot reach the owner immediately. In that case, we will notify you as soon as possible of the expense.
WHAT IF I WANT TO DO MY OWN MAINTENANCE?
BRIDGE CITY PROPERTY MANAGEMENT, LLC TAILORS EACH ACCOUNT TO MEET WITH OUR OWNER’S NEEDS AS NYCH AS OISSIBLE. We have many owners who do their own maintenance. We simply call them when we receive a written maintenance request, and the owners either do the work themselves or authorize us to take care of it.
WHEN DO I RECEIVE MY MONEY AND MONTHLY STATEMENT?
We make owner disbursements between the 10th and 15th of each month. This is after all rents and bills are posted and paid. Owner statements are mailed at the end of the month. There statements, which itemize the previous month’s income and expense, give you not only the current activity. This is very helpful at the end of the year when you need income tax information.
WHAT OTHER BENEFITS DO I RECEIVE?
We act as your full time agent receiving those late night emergency phone calls. We deal with the tenants directly to save you from having to settle disputes, perform evictions, and make accommodations which are not comfortable to you but are hard to refuse, or insist on compliance with rental agreement provisions. Our 24 hour answering service means we are always available to assist with problems or emergencies and you can be free to spend your valuable time in other pursuits.
WHAT HAPPENS TO OUR CONTRACT IF MY PROPERTY SELLS?
We only manage for the person with whom we have a management agreement. If your property sells, our agreement terminates immediately, with no penalty to you. Otherwise, the contract is for a one-year term, renewing year to year unless either party gives a 60 day notice to cancel.
HOW MUCH DOES ALL THIS COST ME?
We base our fees on the number and type of units managed. Fees range from ____ per door to ____per door for residential properties, for rent collected each month on occupied unites. There is a small initial set-up fee. All advertising is paid for by the owner, but we have found that our yard sign and website generate sufficient activity to place tenants. Other fees may be negotiated as necessary. We always talk with each prospective owner about his or her expectations regarding the amount of services we will provide, and sometimes the fees are adjusted according to the services required.
WHY SHOULD I CHOOSE BRIDGE CITY PROPERTIES MANAGEMENT?
We have 2 licensed Property Mangers on staff and have 15+ years experience in Real Estate transactions. We are continually updated on all federal, state and local housing laws, so you can rest assured that you will always be in compliance with any landlord-tenant requirements. We also stay updated on the most efficient and cost effective ways to maintain your investment property, and the latest in innovative ways to market and increase rental values. We are associated with several professional organizations which constantly analyze current conditions and educate their members on how to improve their management strategies and techniques. We have an excellent staff that is experienced in all phases of property management, and our goal is to provide you with the best service possible.
CAN YOU LIST MY PROPERTY IF I WANT TO SELL?
Yes we can. We have both the knowledge and experience in both residential and commercial real estate sales.
HOW DO I SIGN UP AND WHEN CAN YOU START?
We can assume the management of your property as soon as we have signed a management agreement. We will send notices to any current tenants, advising them of our location and phone number, and begin marketing any vacant units.
We welcome you to set up an appointment to come in and meet with our staff, review our management agreement, and ask any other questions you may have. If you are out of the area and are unable to visit our office, arrangements can be handled by mail, fax, email or you can download the necessary documents by visiting our website at www.bridgecitypm.com.
We look forward to being of service to you. Thank you for your time and interest.
Sincerely,
Tony, Ron, and Elsie Forhan.
