Management Services
Property Associates Management Co. is a professional Real Estate Company committed to offering the best in Property Management services to Western Nevada County. Our goal is to maximize our Owners’ return on their investments while providing quality housing for our residential clients. We strive to provide personalized, responsive service, effective communication, strong business ethics and technological innovation.
Frequently Asked Questions
1. Why should I choose Property Associates Management Co. to manage my property?
We have specialized in Nevada County residential rentals for twenty-five years. Nevada County rental demographics are constantly changing, and we work hard to understand the needs of our owners and tenants. Our focus is on finding the best possible tenants for your property who will take good care your home, pay their rent on time, be communicative, respectful and responsible. It is not just about numbers, income and credit reports. It is also about assessing responsibility, intentions and character. Our personal approach helps us bring that extra level of assessment to the placement process.
2. What else will Property Associates Management Co. do for me?
a. We understand federal, state and local laws regarding tenancy, discrimination and security deposit disposition, ensuring those rules are followed.
b. We know and understand the local market in terms of advertising, rental rates, and repair work, so that you will often save money under our management.
c. We enforce collection of rents and serve the proper notices upon failure to pay or comply with lease terms.
d. We handle the maintenance and emergency calls, providing you some peace of mind.
e. Through twenty years of residential rental management, we have built an expert team of house cleaners, carpet cleaners, handymen, contractors, HVAC technicians, electricians, roofers and plumbers who are responsive, professional and fairly priced.
e. We work very efficiently when transitioning properties between tenants. This saves you money by minimizing lost rent between tenants.
f. We pay you electronically on the 10th of each month via ACH.
3. How many properties does Property Associates Management Co. manage?
We actively manage for approximately 70 owners and 100 units. 90% of our rentals are homes, the balance are small apartment buildings, two to twelve units in size and granny units.
4. Do you provide me with a monthly report of activity on my property?
Yes, Property Management Associates, Co utilizes Appfolio Property Management Software which provides fully integrated accounting reports. On the tenth day of the month we send the previous month’s financial general ledger to date via email. These statements detail all financial activity of your property. Invoices are kept on file and copies can be sent at the end of the year at your request. Appfolio hosts an owner’s portal where you access your monthly reports, year-end report and 1099 for tax purposes.
5. How do you advertise my property?
Advertising is provided through my website, nevadacounty4rent.com, and multiple online rental sites, including Zillow. Newspaper advertising is no longer effective. A sign is placed on the property when appropriate.
6. How much does professional property management cost?
The monthly management fee is $125/month up to 7% of the rent. The management fee for multi-unit properties is 6% of the rent. In addition to the monthly management fee, a placement fee of $600 up to 30% of the 1st month’s rent is charged for the screening, showing and signing of the lease agreement. Online advertising is included in this fee. This placement fee includes all aspects of move-in and move-out services, handling the security deposit disposition and making the home rent-ready for the new tenant.
7. Are “Placement Only” services available?
Yes, the fee structure is similar: The placement fee is $600 up to 30% of the first month’s rent for the service of screening, showing, preparing and signing the lease agreement. The owner is responsible for the walk-through, preparation of the property for rent and all other facets of tenant communication and management. Online advertising is included in this fee.
8. How long will my property be vacant?
We work with tenants to begin advertising and showing your rental property once we receive their 30-day notice to move. In normal conditions, a home or unit that is priced right and is in good condition should rent within two weeks. We normally have vacancies of only a few days up to 2 weeks between tenants, minimizing the cost of a vacancy to you.
9. How do you screen tenants?
We know that approving a tenant to move into your property is a very important responsibility. Prospective tenants fill out an application, which is then rigorously screened. We run their credit report first, and then verify their landlord references, employment references and personal references. We do not accept smoking inside the rentals. Through careful screening, we strive to keep your property rented to well-qualified tenants minimizing potential problems in the future. The most qualified applicant is then selected with your approval and the lease is prepared and signed.
10. How is the security deposit held?
In order to have the funds available after the tenant moves out, we require that all security deposits are kept in the Property Associates Trust Fund Account at Tri Counties Bank.
11. What happens if we have to evict a tenant?
On the rare occasion that we must start eviction proceedings, we employ the services of an attorney who specializes in eviction and tenant law. The cost of the eviction is paid by the owner of the property. Currently the cost is approximately $1400, including court costs. Evictions are very rare due to our effective and thorough screening process and management.
12. What can I do to enhance the rentability of my property?
Curb appeal is very important. We want your property to look its best to attract the best possible tenant. Start on the outside and work your way in. How does the outside look? Does the yard look well-maintained? Is there any peeling paint on the house? How old is the roof? Is the garage door in good working order? Inside: Is the house freshly painted? Are the carpets and floors, miniblinds and/or draperies, appliances kitchens and bathrooms clean? Are there any leaks? The bottom line: good quality prospective tenants want to move into a clean, well-maintained home.
13. How is the move-out and security deposit handled?
When we receive a 30 days-notice, a move-out letter is sent to the tenant. Inspections are performed and upon move-out deductions are made from the tenants’ security deposit for any required repairs and cleaning, not including normal wear and tear. The remaining security deposit is returned to the tenant within 21 days minus any allowed deductions. Simultaneously, the house is prepared to be re-rented, including any recommended additional repairs, professional cleaning and improvements.
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