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Bacchus
Realty Group, 4315 Camelot Circle, Naperville, IL
A full-service real estate company serving Naperville, Westmont, Lisle & W
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Managing
Your Property Includes the
Following Services:
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Determining
Rental Rate
We will make an appointment
with you, the owner, to preview your property.
After we have researched your area and competition,
we will recommend a rent price range as well
as give you suggestions, if applicable, on ways
to maximize your return.
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Advertising
the Property
When
you list your rental property with us, we immediately
start advertising it. Within 24 hours after signing
the management or listing agreement, a "For Rent" sign
is placed in the front yard of the property. Within
72 hours, the property is added to the multiple listing
service. The multiple listing service is where all
real estate agents look to find available rental
properties as well as properties for sale. Within
72 hours, the property will be posted on the Bacchus
Realty Website. And within the first week, the property
will also be advertised in the local newspaper.
Two
months prior to the expiration of a lease, tenants
are asked to commit to a renewal. If they do not
renew their lease, we will start advertising your
property. Using these 60 days as a lead time, has
proven to keep vacancy rates to a minimum.
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Showing
the Property
We
make ourselves available to show your property 7
days a week. If the property is occupied, we will
make arrangements directly with the current tenants
to show it. We will try to give the current tenant
a minimum of 24 hours notice. However, depending
on the prospective tenant's schedule, there may be
an occasion when the current tenant may only be given
an hour notice. We try very hard to work with both
parties, but our job is to get your property rented.
If required, we will be present when your property
is being shown by a realtor from another real estate
company.
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Qualifying
Prospective Tenants
Any
applicant interested in renting your property will
be required to fill out an application with a non-refundable
fee. This application provides us with enough information
to enable us to pursue or reject the prospective
tenant. If they meet our requirements, the application
is then submitted for a credit and background check.
The applicant's employment, income, and history with
current and past landlords will be verified. A credit
report will be ordered to determine their credit
standing. In addition, a search of public court records
to see if there is any pending bankruptcy that would
affect their financial standing will be performed.
The entire qualifying process takes an average of
5 business days.
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Negotiating
the Terms of the Lease
In
order to properly service you, we need to have a
good understanding of what you are willing to accept
and what you are not. For example; will you allow
a tenant to have pets? Would you consider a corporate
transferee that wants a diplomatic clause or a six
month lease? When we negotiate the lease, we make
sure that your interests are protected. If a situation
arises that was not previously discussed, we will
contact you, the owner, before responding to the
prospective tenant.
As
part of the lease, we require all tenants to complete
a "Move in / Move out" form. Prior to your tenant's
move in date, we will have a walk through. The tenant
will be asked at that time to note on this form any
flaws that may be present. Once completed, both the
tenant and Bacchus will sign and date the form. When
the tenant moves out, this form is used to determine
any responsibility for damages the property may have
sustained.
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Security
Deposit
The
security deposit will depend on the circumstances
of the prospective tenant.
For example, if the tenant is from another country
and we cannot run a credit / background check, we would
require a minimum of two months security deposit. In
addition, we would request a guarantee from their employer.
If the tenant has a flawed credit history but everything
else is in order, we may require a deposit that is
reasonable but in line with the additional risk. And
finally, if the tenant has good credit, in most cases,
only one month security deposit is required.
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Rent
Collection
Rent
is due on the first of each month. We allow a grace
period of five days. If the rent is not received
by the fifth day, a $50.00 late charge is imposed.
On the six day, if we have not received the rent
payment, regardless if it has been mailed, we require
the tenant to stop payment and hand deliver a new
check to us or in some cases, we will personally
go and pick it up. In addition, we would have a conversation
with the tenant to determine whether this is a one
time occurrence or the beginning of future problems.
We monitor payments very closely. If they are late
with their rent two months in a row we may take a
different approach; increase their security deposit,
offer them an incentive to move out, which in most
cases is cheaper than an eviction. What ever the
course of action, we act immediately in an attempt
to avoid the situation from becoming a serious problem.
Details are always discussed and agreed upon with
the property owner prior to any action.
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Maintenance
Whether
your property is vacant or rented, we are on call
twenty four hours a day seven days a week to handle
emergencies or concerns from the owners or tenants.
During the periods that the property is vacant we
will maintain the property as well as pay the utility
bills on behalf of the owners. All repairs and routine
maintenance such as lawn care, cleaning of gutters,
furnace, air conditioner, and painting will be supervised
and coordinated by us. As our customer, in many cases,
you will enjoy the discounted prices we were able
to negotiate. For any repair that exceeds the dollar
amount that was agreed upon in the management agreement,
we will obtain 3 bids and present them to the owner
for final approval.
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Purchase
or Sale of Rental Property
Should
you decide to buy or sell a property, you may want
to consider using us. As investors ourselves, we
have developed tools and strategies to help obtain
properties at the best possible prices. Similarly,
by understanding why a property may not be selling,
we are able to advise you on how to get your property
in market ready condition in order to obtain a quick
sale as well as receiving the best possible price
for your property. In addition, as an existing customer
of Bacchus, we can offer you a lower commission rate
than competing real estate companies. In some cases,
we may have a current investor interested in buying
your property or selling one to you.
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Monthly
and Yearly Itemized Statements
We
provide a monthly statement showing the income
and the expenses for each property. Expenses for
the month are itemized and invoices are also included
with the statement. Expenses pending to be paid
for that month are also indicated. In addition,
we will provide you with a year end statement recapping
all the income and the expenses we received and
paid out for your property that year.
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For
pricing information, contact us at:
information@bacchusrealtygroup.com
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Bacchus Realty Group, Naperville, IL
Copyright © 2003 - 2010 Bacchus Realty Group: All Rights Reserved |
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