Our goal is to create and maintain the financial success of your property, while freeing you from the day-to-day management tasks.
Berkshire’s 8 Step Approach to Rental Property Management
1. Strategic Property Advertising
Internet campaigns (including our own website) include but are not limited to Zillow, Hotpads, Trulia, Craigslist, Rentlinx, Facebook, Forrent.com, Postlets, LinkedIn, YouTube and many more. We also advertise with signage on the property, broker referral programs and tenant referral programs.
2. Meet With the Prospective Tenants
We believe that building a relationship with a prospective tenant is a key factor in property management. Our customer service is top-notch, and we want to show the tenant that from day one.
3. Comprehensive Tenant Screening
We pride ourselves on this part of the property management process. Nothing is more important than insuring that only the most qualified applicant is approved and is allowed to move into the client’s property. BMG understands this better than most property management companies, as we are property owners also.
Berkshire Management Group takes the following steps when it comes to the application and leasing of a client’s property: Complete tenant screening and background checks to include – but are not limited to – criminal, credit, civil search for any evictions or litigation, employment verification, social security number verification, previous rental history, and references.
Once a tenant has passed our rigorous background check and a qualified tenant has been established, our job has just begun. Berkshire takes care of the day-to-day operations of our client’s investment.
4. Execute Lease Documents
Once a tenant has been approved, we require half of the security deposit due as a reservation fee to hold the home and take it off of the market. Upon lease execution, this money will be applied to their security deposit due. A security deposit equal to one month’s rent will be collected for every tenant at lease signing. All security deposits will be held in a non-interest bearing escrow account. We offer annual leases and, on occasion, 7-month leases to prospective tenants.
5. Collect and Process Monthly Rent Distributions
The collection of rent and distributions is a pivotal asset to our owner’s. We pride ourselves on getting our rent checks out to our owners no later than the 10th of each month. Our rent payments from our tenants are due on the 1st of each month and considered late on the 6th. We charge a $75.00 late fee on the 6th and then $5.00 per day thereafter until the rent is collected in full.
6. Schedule Maintenance and Repairs
Berkshire Management Group, LLC is available 24 hours a day, 7 days a week for emergency maintenance repairs. We have an after-hours answering service that dispatches emergency calls to the appropriate vendors. If the maintenance issue does not fall within our emergency guidelines, then the call will be handled by our staff the next business day. We use only licensed and insured contractors for to protect our owner’s best interest.
7. Conduct Periodic Site Inspections
Berkshire Management Group, LLC conducts exterior inspections on a monthly basis. An interior inspection of the property is completed twice per year to ensure that the tenant is complying with the rental agreement. If violations are present, tenant will receive a notice to cure and comply.
8. Monthly Owner Reporting and Distribution
Owner distribution checks will be mailed on the 15th of each month and include an owner’s income statement as well.