What We Do for Property Owners
We firmly believe that a real estate management company should do more than collect rent and pay bills. We are landlord advocates. When you partner with Exclusive Rentals Inc, you can be confident that we are dedicated to keeping your investment in good repair at minimal costs and building a trusting relationship. Exclusive Rentals knows how to get the optimal rental rate and the best-qualified residents for your investment, with almost 20 years of services have proven that.
Keep in mind, property management is all we do. We are not a sales company that does property management on the side.
Our interests are always aligned with our owners.
1. Owner Communications
Owners can expect to receive regular, clear, and concise information about their investment property when needed. Property owners want a property management company that they trust and reach out to when needed, with one person to contact to answer all of their questions. We provide this to you in the following ways:
We Answer Our Phones
Like you, we too, get frustrated when immediately getting a voicemail system when we call a business. We do things differently. Our staff makes it a priority to answer our phones. Our Customer Service Standards dictate that we respond to your phone call or email within 24 business hours.
No Vacant Property Surprises
When a notice to vacate from a tenant is received, we email you promptly to let you know of a pending interruption in cash flow. Likewise, we notify you as soon as the property leases with the conditions of the lease.
Vacant Property Status Email
Should your property become vacant, once it is on the lease market, you will receive an email update from your property manager reporting on the showing activity the property received. We want you to know what’s going on with your investment, no surprises.
Maintenance Cost Control
Should a maintenance expense (other than a health and safety event) of more than the set amount in the contract occur, your property manager will contact you to discuss the cost. We understand and respect that this is your money.
2. Tenant Selection, Tenant Evictions, and our Guarantee
Leasing your investment to the wrong tenants can cost you tens of thousands of dollars in repairs and lost rent. A property management company should be experienced in investigating the background of its applicants. Since 2004 Exclusive Rentals Property Management has processed thousands of applications and signed thousands of leases. Our owners have said that they want: top-quality tenants that pay on time and take care of the property. For each applicant, we will:
- Verify each rental applicant’s lease history
- Run a credit report on each applicant
- Verify each applicant’s employment and income
- We perform video inspections utilizing the best currently available online software so that we limit the disputes on move-in & move-out
3. In-House Maintenance Personnel and Vendors
Having an experienced, well-qualified maintenance tech on our team yields many benefits for our owners:
- Our uniformed maintenance person’s goal is to respond to maintenance requests within 24 to 48 business hours. Quick service is critical to tenant satisfaction.
- Our maintenance tech is covered by Workers Compensation insurance to protect you
- The maintenance tech completes a multi-point check at each property visit. This alerts the property manager to any possible issues and allows us to handle things proactively instead of reactively, and that saves you money.
- Since the tech can perform several different trades in one service call, our owners save money. Instead of sending different vendors, one person, one service call, one detailed invoice for you to review.
- We only use vendors that agree to the terms and conditions in our Vendor Program. These vendors agree to a high level of service and are honest, experienced, fully insured (Workman’s Comp and General Liability insurance) and are competitive in their pricing. We will not accept poor workmanship.
4. Quick Tenant Services = High Tenant Retention Rates = Better ROI
A primary goal is to provide tenants with superior service. If tenants receive quality service, chances are higher they will stay longer, which helps keep your costs down. Less turn over means a better ROI for our owners. This is accomplished in various ways:
- We respond to a tenant’s maintenance request within 24 – 48 business hours.
- Tenants can pay their rent and submit a maintenance request through our website 24 hours a day.
- Tenants receive a quality control email survey after each repair to assure their satisfaction with the work.
- We understand that turnover is expensive and strive to keep good tenants in place.
5. Detailed Monthly Statements
Your monthly property statement report includes a comprehensive packet of information. Your report will include, but is not limited to:
Invoices for repairs are included in your statement and reviewed by the property manager before payment.
Statements provide a detailed breakdown for each property and show every transaction. We also provide you with a monthly and year-to-date profit and loss statement and prepare your year-end statements for tax purposes.
Owner Account Portal
Your owner portal will have each month’s statement and all supporting documentation available to you anytime.
Net rental income is sent to you by electronic transfer directly into your bank account, no cheques to deposit.
6. Examining Operating Costs
While it is not always possible to control many items’ costs, it is possible to examine operating expenses to establish whether they are fair and competitive. We make it our goal to examine all property operating costs to see that our clients are not overpaying. Here are a few examples of areas where we have helped our clients keep costs in line:
7. Properly Insured for Your Protection
Errors and Omissions Insurance Protection
Most of our competitors do not carry professional Errors & Omissions (E&O) insurance. Fortunately, since our establishment in 2004, no one has ever had to make a claim against our policy.
Worker’s Compensation Insurance Protection
Every employee at Exclusive Rentals is covered by Worker’s Compensation insurance. If someone were to get injured on your property, it does not become a liability to you.
Vendor/Contractor – Required Insurance Protection
We also require contractors to carry Worker’s Compensation insurance. Many property management companies do not require this coverage; however, without this protection, your liability is far greater than the minor amount of money that would be saved from using an uninsured contractor. If you are unsure about this, call your insurance agent or attorney and ask them about your liability and what a properly insured property management firm can do to protect you.
8. Property Condition Surveys and Properly Maintained Property
Your property is a valuable investment that appreciates when it is properly managed and properly maintained. To assist you in maintaining your investment’s condition, an annual (or bi-annual) maintenance survey is provided to you performed by your property manager. Surveys go room by room and provide pictures and/or video of the entire property to give a clear idea of its condition.
Property Survey/Report at Takeover
When we onboard a property, your property manager walks and prepares a detailed, room-by-room survey for you. This report also establishes baselines for the property going forward.
Property Survey before Lease Renewal
The survey provides a look at the property before offering the tenant a lease renewal. At your direction, identified repairs or improvements can then be scheduled. Ideally, such repairs or improvements should be made while the property is occupied and rent is coming in.
Proactive Response to Repairs
The survey will also provide you with the information necessary to approach and properly plan for identifiable maintenance items (such as roofing, exterior painting, air conditioning, heating, flooring,.) on a proactive basis instead of a reactive basis. Reactive maintenance is always more costly and can damage your relationship with the tenant. This information can also be a useful tool for tax planning purposes.
Keeping you Informed
Each inspection is performed by your property manager and unlike other management companies, this is not farmed out to a third party. This gives you the assurance that we know the condition of your property first hand.
These are just a few of the many property management services that we provide to our clients.
Interested in more information?
Take a moment to complete our brief Contact Us form, and we’ll send you detailed information about these and the other benefits of becoming an Exclusive Rentals client.