Our role is to achieve our clients’ objectives while preserving or increasing the value of an investment property and generating income for our clients. We advertise our properties, screen tenants, negotiate leases, collect rent, schedule maintenance for your property, keep accurate records, and provide regular reports and communication with our clients.

Before we offer to manage a property, we check to make sure it is clean and sanitary, doors and windows are operable and have secure functional locks, and the yard is well kept and free of debris and trash. We determine what repairs and improvements are mandatory and which are recommended to make the home more marketable. By establishing a benchmark for new residents, they have a much easier process moving in and will respect and care for the property more.

While our fees are very competitive, they do vary by property type, area, and other factors. Understandably, the fee to manage an apartment building is much different than the fee to manage a single family home. Our clients appreciate that we separate our property management fee from our leasing fee.

Leasing and management, while equally important, are completely different aspects of investment property ownership. A management fee is the cost associated with the administration of day to day activities involving your property. A leasing fee is an expense that only comes around when a home is vacant and needs marketing to attract new residents.

Typically, of the leasing fee we collect, half goes to a cooperating licensed REALTOR who brings in the qualified new tenant. Coldwell Banker Platinum Properties uses the remainder to pay for photography, signage,flier design, distribution, ad listings, and other items associated with the overall marketing strategy.

Some property management companies tout both services for a single “management” fee. There are a few reasons why an owner may want to avoid that fee structure. The first problem is these management companies collect that inflated fee every month, even if you have had the same tenants in place for 3, 4, 5 or more years. The second problem is, when it comes time to lease the home again, often these management companies see marketing as an area where they can cut costs to save their own money.

It doesn’t make sense to muddle a leasing and management fee together. By clearly delineating between management and leasing, you have a better idea of how your money is being spent. With happy tenants often staying for multiple years, our fee structure saves you money in the long run, gives better accountability of how your leasing funds are used, and makes more sense.

Typically, Coldwell Banker Platinum Properties requires a reserve of $250-$400 from rental proceeds to establish and maintain an expense reserve to be used for unanticipated expenses associated with the management or operation of the property. These funds, as with all of our clients’ money, are held in a trust account.

If rent is not received on, or before, the 5th of the month, a letter is sent notifying the resident that they are in breach of the lease and payment must be made within 3 days. In the event of nonpayment within the prescribed time we will contact you to discuss your options, including initiating the eviction process.

Costs can vary widely depending on how you would like the process handled. Broadly estimated, you can expect to spend $900 to $1500. Coldwell Banker Platinum Properties charges no additional fee to oversee the eviction process and most expenses, including the cost to market the home for lease, can be collected from the defaulting tenant’s security deposit.

For most clients, owner distributions are made mid month. Net proceeds are directly deposited into our clients’ accounts through an ACH transfer. Monthly statements are available online.

We strive to ensure a minimal amount of inconvenience to our residents by providing 24 hour emergency services as well as a quick response to routine daytime repair and maintenance requests.

We do require that owners carry a commercial general liability insurance policy for the protection of any claims arising out of the operation, leasing, and maintenance of the property. We do require a valid certificate of insurance, listing Coldwell Banker Platinum Properties as an additional insured party to be on file at all times – there is usually no additional cost from your insurance company associated with this.

• A marketing visit is made to the property to update any marketing materials and do a quick assessment as to the anticipated turnover time.
• A letter is sent to the resident notifying them of their duties, including cleaning and yard care.
• The reserve in the owner′s account is modified, if necessary, to ensure that funds are available to perform all necessary turnover items to get the property ready for the next resident.
• The property is placed in all of our marketing materials and a sign is placed at the property.

• We will perform a move–out inspection of the property. Our goal is to complete all of the inspections within the first five business days after the resident moves out. During this inspection, we will determine any items that should be charged to the former resident, as well as recommendations of items that are in need of attention by you to preserve the value of the property and decrease the vacancy time.
• Once cleared for viewing and all work is complete we allow prospective residents to view your property.