Ricci Rentals Property Management
At Ricci Realty Property Management we strive to make your role in property management as easy as possible. We take the time to listen and adapt to your Financial & Personal goals regarding your rental property, wether you like to be hands on with our entire management process or prefer a completely hands off approach and have true passive income.
We have a powerful backend software that allows us to provide you with hundreds of different options such as
- Direct Deposit of Rent Proceeds or wait a day or two for a check
- Access to Detailed Income & Expense Reports for every Month or Year to Date that can be accessed 24/7 from anywhere
- Direct Owner Contributions can be made online towards your property for any long or short term imrovements you'd like to do
- Instant 1099s' when you need it for tax time
We can set up the property management guidelines in the manner that suits you best. We handle whatever problems arise and are here to make your life as easy as possible.
The Benefits of Property Management
1. No constant showing of property
2. All paperwork handled by us
3. Renter calls us instead of you for problems
4. We have a repair staff on hand to handle minor maintenance
5. We have managed property for years and are well versed in rental issues that commonly arise.
6. We have an attorney on hand for legal questions and matters.
7. We supply all signage for renting the property saving you the cost of buying signs
Getting started is easy as well. After signing the property management agreement, we handle the rest. We immediately place ads in the Orange County Register and notify our various other rental agencies of our new rental listing. Provided the rent is at a reasonable rate, properties are usually rented within a four week span depending on the rental market at the time.
What about the tenants?
The tenants are usually responsible for the gas and electric bills. In most rental properties the owner assumes the cost of waste and water in addition to any property taxes that may arise. The tenant also must agree to a code of conduct, which list any illicit activities as grounds for eviction. The tenant in most cases must also sign a one-year lease. This can only be exempted by the owner's permission.
What about costs to me?
The cost to you is zero until the property is rented. Upon renting of the property, the owner will pay the one time tenant finder fee, in addition to any advertising costs compiled. The advertising costs due to our bulk advertising remains lower than to the private individual. In addition any repairs not attributed to renter malfeasance will come out of any proceeds check issued. All property taxes and other insurance costs are also paid for by the owner.
What do you require to manage the property?
A property management agreement is required in addition to being named on the owners homeowner policy. We also require access to the property in the way of keys and or lockbox. We will need contact numbers for you. These numbers will never be made available to the tenant.
What do I need to do to start?
1. Property Management agreement must be signed
2. All bills that we will pay must be addressed to Ricci Realty
3. Keys for the property will be required
4. A repair deposit of $300 to handle minor repairs. All repairs over $300 will require your approval.
5. Repair deposit can come out of future proceeds
6. Any costs to preparing the property must be assessed immediately.
7. An address or instructions on how to pay the rental proceeds
8. Ricci Realty must be named on homeowners insurance policy
9. Contact numbers in addition to a mailing address.
10. Any special instructions must be detailed in writing