RESIDENTIAL PROPERTY MANAGEMENT

Our Comprehensive Residential Property Management Services for Landlords Include:


Access to the online portal for Landlords


Transparent and timely communication is a must, especially for non-resident investors that live on a different continent and time zone. Our online portal provides detailed financial reports to include rental income generated and monthly expenses paid out on your behalf. We also save all pertaining documentation, including contracts and inspection reports with pictures, so that you are informed at all times if you wish to check up on your investment.


Bookkeeping, including monthly and year-end financial statements and copies of bills paid


As an investor, you are looking for monthly and yearly financial statements to provide your accountant for tax purposes. Your financial statements are easily accessible through our online portal, which will also include copies of bills paid on your behalf. We make sure you are fully informed and have supporting documentation regarding your investments.



Initial property inspection


The purpose of the initial property inspection is to make sure the property qualifies for rental and doesn’t have issues that will jeopardize the health and safety of the tenant. This includes smoke and carbon monoxide detectors, handrails, caulking, how the property shows and whether it requires painting, carpet cleaning, water leaking, windows and cabinets…

We use an industry-leading software to conduct our inspections and store reports on the online portal for your reference.


Rent collection


Timely rent collection and depositing is done on your behalf. In case of delays or non-payment of rent, we pursue this on your behalf with the tenants and paralegal services if necessary. Tenants have a few options for rental payments, including Checks, Post-Dated Checks, and Online Payment.


Responsive recommendation of contractors for property maintenance and repairs


We know that you value your time as a real estate investor, and this is why you hired us. We will recommend contractors to take care of the b maintenance and repairs tasks .


It takes fineness to coordinate among various parties, including tenants, trades, and building management… The goal is to treat everyone with the respect and dignity they deserve and get the job done right in a timely and cost-effective manner.


Expert tenant management


Managing effective lessee and tenant communications and resolving tenant disputes


We will attract and vet applicants to find you the best tenant for your property. More importantly, we will maintain the relationship and lines of communication to ensure property maintenance for the property and tenant satisfaction in their new home. A happy tenant will treat your property well, and we know that firsthand. We are attentive, fair and professional in dealing with all our clients.


Fall walkthrough visual inspections/reports


We usually conduct fall walkthrough visual inspections around the daylight savings time change late, from October to early November. It’s our way of officially visiting and inspecting properties at least once a year. One of the major tasks we complete during the fall visits, mainly for homes, is to shut off the outdoor water taps and drain the pipes before the weather temperatures drop below zero degrees and risk pipes freezing. In addition, we check smoke alarms and Carbon Monoxide (CO) detectors. We also check for leaky taps, caulking around bathtubs and kitchen, take photos of potential areas that need attention, check for burned lightbulbs…


When conducting this task, we take into account previous inspections and compare them with the current conditions to assess how the property is faring and document any issues that need to be addressed immediately or planned for in the near future.


Issues found that we believe jeopardize the health and safety of tenants and/or safeguarding the property will be automatically addressed as long as the estimated cost is below $500. For maintenance issues that are above $500 we call property owners and get their consent before proceeding with the work.


Spring walkthrough visual inspections/reports


The Spring walkthrough visual inspection is a scaled-down version of the fall inspection. The main goal of this exercise is to see how the property faired over the winter season and check to see if any maintenance is required to be taken care of. We usually conduct this late April to early May, and both landlords and tenants have access to our documented findings through our online portal.


Move-in / Move-out walkthrough visual inspections / reports


We complement having a solid landlord/tenant contract to ensure both interests are protected with visual inspection reports at move-in and move-out. Sometimes a picture is worth a thousand words – we take pictures and notes at move-in to document the property’s condition and have the tenant sign on the report prior to handing over keys to their new home. We then do the same at move-out and highlight issues that are not part of normal wear and tear for the tenant to either fix themselves or pay us to address the issues on their behalf.


We do our best to document property conditions and set expectations from the onset. Having said this, the difference between Normal Wear and Tear as opposed to Tenant Damage isn’t always crystal clear and a lot is left for interpretation.


Access to discounted trades rates and materials


Given the volume of jobs we provide to contractors, we have a discounted rate for most Investment Real Estate Services as well as supplies. These discounts are passed along to you directly, which ultimately contribute to better returns on your investment.


Major renovation work


Any maintenance, repair or renovation project under $3,000 is managed by Prime Properties without any additional markups to the service fee rendered by a 3rd party. However, for bigger projects over $3,000 for which we solicit multiple quotes and oversee the work, we charge 10% of the cost of the project.


We believe in creating value through building and renovating our investment properties and recommend the same to our clients. A renovated property commands a better resale price, but if you are like us and hold on to your investments for generations to come, then renovating a property will get you higher rent and a better caliber of tenants.


Our Rent Guarantee Program


How does the Rent Guarantee program work?

If a tenant defaults on monthly rent payment, the Rent Guarantee program kicks into effect.

Go ahead and contact Prime Properties Property Management today for your free, no-obligation consultation; we look forward to serving you.


Call us: 703-771-2266


Please note that the Rent Guarantee Program is available for qualified properties and where Prime Properties  Property Management Inc. placed the tenant.