Linda Fox-Jarvis Team - Property Management Brochure

OUR Team

Our team has provided property management services for over 30 years and has succeeded in helping our owners increase their rental revenue while also protecting their investment. We manage your property from start to finish, tending to the myriad of details, paperwork, and legalities, including abiding by the Virginia Landlord Tenant Act and Fair Housing Act. We choose to keep the number of properties we care for to a manageable level to ensure that our owners and tenants receive the personalized service they deserve.

We pride ourselves on managing quality homes and procuring responsible tenants! Stephanie and Linda manage our rental properties as a

team with the support of both a licensed assistant (Layne) and an administrative assistant (Mae). In addition, we have the support of BHHS RW Towne Realty for the accounting, property management software, and website. As a result, you will receive an extra personalized and customized approach with BIG results.

We are very proud to say that over 50% of our current owners have been using our team as their property manager for 7-10 years. Through the years, we have only had a property management agreement terminated for two reasons – either the owners were moving back into the house, or they wanted to sell their home and chose OUR TEAM to be their listing agent. Results that speak for themselves. We take care of our clients’ homes as if they were our own.

Services OUR

COMPLIMENTARY CONSULTATION

We begin by meeting with our owners in their home to tour the property, make any recommendations regarding condition, give you a rental market analysis, including pricing recommendations, explain our services and processes, and answer any questions or concerns you may have.

LISTING

When we list your home for rent, it will be featured on our local MLS (REIN.com) as well as on social media and all major home search engines (30+ websites at a minimum). This gives your home the MAXIMUM exposure possible.

SHOWINGS

A sign and lockbox are placed on the property to facilitate showings. You will be notified in advance about all showings, and we will obtain feedback from the prospective tenants and/or their agents and communicate that information to you.

RENTAL APPLICATION

All prospective tenants create an application online on the BHHS RW Towne Realty’s customized AppFolio website. The application process obtains the prospective tenant’s credit report, rental history, employment information, income and debt information, and landlord references. We review the rental applications to ensure the tenants pass our guidelines and then present the applications to our owners. YOU will make the final decision on approving or denying a prospective tenant, subject to the VA Landlord Tenant Act and Tenant Fair Housing Act, Laws, and Regulations.

LEASE PREP AND DEPOSITS

Once a tenant has been accepted, we will prepare the lease, obtain the tenants’ signatures, and ensure the tenant pays their security deposit (typically one month’s rent), pet deposit (if applicable), and their prorated first month’s rent payment prior to move-in.

MONTHLY MANAGEMENT

During the lease period, our team will be the primary contact with the tenants in terms of maintenance requests, rental payments, periodic property inspections, etc.

RENT PAYMENTS

All tenant rental payments are made online directly through our property management website to ensure they are on time. Rental payments are due on the first of the month, with a late fee enforced after the fifth of the month. Owners will then be paid with an electronic deposit directly to their bank account, typically by the 14th of the month.

REPAIRS

During tenancy, all repairs and maintenance needs will be coordinated through our team; a tenant will never contact you directly. All of our contractors must have a business license and a certificate of insurance on file.

INSPECTIONS

We perform a visual walk-through inspection of the property approximately every six months to ensure the tenant is complying with the lease and to see if any recommended repairs are needed.

MOVE OUT

Upon the termination of the lease, our team will conduct a move-out inspection to determine any tenant-caused damages above normal wear and tear and any recommended repairs to make the property more desirable. We will coordinate any repairs needed and process the tenant’s security deposit release, deducting any charges for repairs that are the responsibility of the tenant.

RE-RENTING

Per our lease, the tenants are required to give a minimum of 60 days notice if they do not plan on renewing a lease. In addition, they must allow showings with a lockbox up to 60 days prior to the lease termination. In most cases, we rarely have vacancies and have tenants renting back-to-back – thus ensuring the maximum income for our owners.

TAX REPORTING

We provide annual 1099s for your tax reporting.

VACANT HOME SERVICES

If the home needs extensive preparation, we offer a service to assist in landscaping coordination, interior upgrades/improvements, and general overseeing of repairs ($250 - $500).

Processes FEES AND

PROPERTY MANAGEMENT AGREEMENT

The first step to getting started is signing our property management agreement, which spells out our services and both parties’ obligations. This also gives us the authorization to start all of our processes to secure a tenant for your property.

LEASE

We use a Virginia Association of REALTORS® lease that has been thoroughly vetted by multiple attorneys. We are happy to supply a copy for your review. See below several items of note.

• SMOKING: The lease states there shall be no smoking inside the dwelling.

• PETS: It is the owner’s decision whether or not to allow pets as well as the type, number, and size. We do find that many tenants have pets, and it can be limiting to restrict pets entirely. We recommend saying pets are negotiable, and you can then review the tenant and their pet(s) on a caseby-case basis. When a tenant has a pet, we add a special “Pet Addendum” to the lease and also require an additional pet deposit.

• VIRGINIA FAIR HOUSING LAW: It is illegal to discriminate in residential housing on the basis of race, color, religion, national origin, sex, elderliness, familial status, disability, source of funds, sexual orientation, gender identity, or military status. Additional protected classes may be added to either the federal or state law which we must uphold.

• MILITARY FAMILIES: Our standard lease does include a military clause which includes allowing tenants to terminate a lease early due to a change of permanent orders or a deployment.

FEES

• There is a $150 setup fee charged by BHHS RW Towne Realty to set up our owners in AppFolio, on the website, and in accounting. This is the only fee that will be charged until we secure and have received rent from your tenant (unless you’ve opted for the Vacant Home Preparation Service).

• There is a one-time finder’s fee of 10% of the monthly rent offered to the agent who brings the “accepted” tenant to the property. This is deducted from the first full month’s collected rent.

• The monthly management fee is 10% of the collected rent, which will be deducted each month from the collected rents prior to disbursement to the owner.

ESCROW ESTABLISHMENT

We will set up an escrow account for your property to ensure money is available for repairs, and the contractors are paid in a timely manner. We start the escrow account with $350, which will be deducted from the first month’s rent disbursement. As repairs are paid from the escrow, the account will be replenished monthly to maintain a $350 balance.

MAINTENANCE

We communicate to you any tenant repair issues and will not authorize any repair over $350 without your approval unless it is an emergency. We also make sure that the repair is not a result of tenant neglect or cause, in which case the repair cost would be the tenant’s responsibility. At the time of signing the Property Management Agreement, please advise our team if you have any specific contractors you would prefer us to use for repairs. Tenants are able to make repair requests online through their portal which ensures a paper trail and proper notification. All invoices are recorded in the owner’s portal; however, we will always advise you via email of repair requests made by the tenant.

OWNER PORTAL

You will have access to the owner’s portal on our property management website to review rent payments and deductions, invoices, inspections, lease renewals, etc. Your 1099 will also be available on your online portal in January.

INSURANCE

Make sure to change your homeowner’s insurance from an owner’s policy to a landlord’s policy effective the date you are no longer occupying the property and provide us with a copy. Our company also needs to be added as a co-insured for liability insurance. All tenants are required to have a tenant insurance policy in place to cover their personal property.

We offer the best technology and software in property management to ensure that our owners receive all payments, communications, and updates on their property in a timely manner. AppFolio is the most recommended, robust, and user-friendly property management software available. Our rental website and subscription to the AppFolio property management software offers a private online portal for both our owners and tenants that allows them to make payments, review past payments, report and track maintenance repairs, and check general information regarding their property.

Online SOFTWARE AND Reviews SERVICES

“Linda Fox-Jarvis found a renter for my parents’ condo in 2010. The renter stayed for five years. During this time, starting in 2010, the real estate market was very tight. When the renter left, The Linda Fox-Jarvis Team was able to sell a difficult property in a matter of months. Thanks Stephanie and Linda.”

“Best in the business! Trusted professionals! Fantastic mother-daughter real estate team. For 12+ years, we worked with Linda Fox-Jarvis and Stephanie Jarvis Caskill to list/sell a house and manage a property for five tenants. This team managed issues (big and small) with impeccable ethics and personal integrity. Their strong reputation and extensive network in the Tidewater Area are a plus. Reliable and engaged at every turn!”

“I’ve worked with Stephanie and her group since 2012, and I’ve had an excellent experience across the board. It’s been such a relief since I live out of town. As you’d expect, maintenance issues come up along the way, and Stephanie addresses the issues promptly and coordinates with the tenant and service provider so it is a seamless process with the pricing being appropriate for the issue. I was only without tenants the first month we started working together. Otherwise, my property has been rented consecutively since 2012, and the tenants have been excellent. My property has been kept in excellent condition and there have thankfully been no issues with late payments or anything of the sort. Anytime I’ve had to request copies of documents or of our agreement, they email it right away. I also really appreciate the owner’s statements they provide, summarizing the financial activity. It facilitates the expense tracking for tax purposes. Stephanie and her team are responsive, proactive, and I honestly cannot say enough great things about them. They’re honestly the best property management team I’ve seen.”

STEPHANIE JARVIS CASKILL AND LINDA FOX-JARVIS