10 Ways Rollingwood Management Inc. is Different
We firmly believe that a real estate management company should do more than collect rent and pay bills. When you hire Rollingwood Management Inc, you should be confident that we are dedicated to keeping your investment in good repair and at a minimal cost. Rollingwood Management knows how to get the best rent and the best residents for your investment, our 33 plus 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.
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 can reach out to when needed and one person can 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. Also, our Customer Service Standards dictate that we respond to your phone call or email within 24 business hours.
- No Vacancy Surprises - When a notice to vacate from a tenant is received, we let you know. Likewise, we email you as soon as the property leases with the conditions of the lease. This lets you know about a potential interruption in revenue.
- Owner Handbook - All owners receive a comprehensive handbook that covers our Policies and Procedures concerning their property. This goes into details of our marketing, tenant screening, key control, tenant education, emergencies, tenant security deposit refund process, and more. The goal is to let you know how we manage your investment on a daily, monthly and annual basis.
- Property Status Reports - While your property is on the market, you will receive a weekly email update from your property manager reporting on the showing activity your property received. We want you to know what's going on with your investment, no surprises.
- Single Point of Communication - Our style of property management is called "portfolio" management. What does this mean for our owners? You make "one" call to your property manager for any questions about your property, they control all aspects of the property. You don't have to call a different department (accounting, leasing, maintenance,...) to get your questions answered.
- Maintenance Cost Control - Should a maintenance expense (other than a health and safety event) of more than $400 occur, your property manager will contact you to discuss the expense. 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 1986 Rollingwood 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
- Check each application's criminal record and check for prior evictions
- Verify each applicant's employment and income
- If a pet is allowed, a current letter from their vet is required stating the weight, breed, and age
- Tenants MUST attend an orientation in our office before they receive the keys
In the last 10 years, we have performed less than one eviction per year. We consider that a success for our owners and for our resident selection criteria.
We believe so strongly in the success of our qualification process, we offer a Six Month Tenant Lease Guarantee.
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 7-Point Maintenance Check-Up at each property visit. This alerts the property manager to any possible issues and allows us to handle things proactively instead of reactively.
- Since the tech can perform 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 and 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 and this 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.
- Our annual property survey lets the tenant know the property owner cares about the condition of their home.
- See what a few of our residents have to say about us.
- On average our tenants stay with us over 3.2 years! The usual stay for a tenant is a little more than 2 years. However, we track this and focus on giving tenants the service they want. We understand that turn over is expensive and strive to keep good tenants in place.
5. Unique Money Back Guarantees
- Three Month Management Fee Guarantee - We are so confident in our level of real estate management service to you and your residents, that if at the end of the initial 90 days, you are not completely satisfied for any reason, you may cancel your contract with us by notifying us in writing and receive a full refund of the management fees that were collected. That is our promise! It is that simple; no strings attached.
- Six Month Leasing Commission Guarantee - Since we believe strongly in the quality of our residents and our resident selection process, we offer a guarantee on our leases. If a resident(s) breaks their initial lease for any reason during the first 6 months, we will find another qualified resident for your property, and you will not be charged another lease commission. No other property management company will offer you this guarantee. (Does not apply to the termination of the lease with military orders, early termination when the tenant pays for all the fees to rerent the property or other valid provisions in the lease)
6. Detailed Monthly Statements
Your monthly property statement report includes a comprehensive packet of information. Your report will include, but is not limited to:
- Invoices - Invoices for repairs are included in your statement and reviewed by the property manager before payment. There are no markups or hidden fees. Some companies do not provide invoices
- Itemization - Statements provide a break down for each property and show every transaction. We also provide you with a month and year-to-date profit and loss statement and year-end 1099s.
- Account Portal - Your owner portal will have each month's statement and all supporting documentation available to you anytime.
- Fund Transfers - Net rental income is sent to you by electronic transfer directly into your bank account. No checks to deposit.
7. The Ratio of Employees to Properties
Rollingwood Management currently has 7 employees and maintains a ratio of around 53 properties to each employee. Other management companies have an employee to property ratio of over 100 properties per employee. As a result, Rollingwood Management is able to attend to tenant and owner needs quickly. Quicker response time equals higher customer satisfaction and in turn, equals higher lease renewal rates that save you money. Ask about our Customer Service Standards.
8. Examining Operating Costs
While it is not always possible to control the costs of many items, it is possible to examine operating costs 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:
- Property Insurance - When you purchased property insurance, did you shop the market for the best rate and protection? To assist our clients with their insurance coverage and cost, we have been approved as a Certified Property Management (CPM) company with Cypress Texas Lloyds Insurance Company. Cypress Texas Lloyds is a domestic Texas insurance company that specializes in coverage for investment properties. If you are a client of Rollingwood Management, you can realize a 10 to 15% cost savings.
- Property Taxes - Do you know whether your property is properly valued for property tax purposes? We provide a service that will annually review the appraised valuation of your property (for local property tax purposes, not sale value) to determine if you are paying only your fair share of taxes. Since we initiated this program, our owners have realized a "direct cash benefit" of over $750,000.00 in money they would have paid out had they not used this valuable service. One client saved $4,300 in just the first two years of the program. Is your property over-valued? If it is, you are giving away money you could be putting in your pocket.
9. Properly Insured for Your Protection
If your property management firm makes a mistake that costs you money, does that firm have the capability of reimbursing you? The court may give you a judgment against the management company, but what would keep the manager from declaring bankruptcy to avoid paying the claim?
- Errors and Omissions - Most of our competitors do not carry professional Errors & Omissions (E&O) insurance. Our insurance policy offers our clients up to $500,000 of protection. Fortunately, since our establishment in 1986, no one has ever had to make a claim against our policy
- Worker's Compensation - Every employee at Rollingwood Management 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 Required Insurance - 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 help protect you.
- Tenant Damage Insurance - Tenants are required to provide proof of damage liability insurance on behalf of the Owner and Property Manager of $100,000 for damage to Landlord's property before they can move in. The policy must cover the perils of fire, smoke, explosion, accidental water discharge and sewer back up. Since the lease states that the tenant is responsible for tenant-caused damages, serious damage can be more than a tenant can financially handle. For example, a tenant accidentally set the wood deck on fire and cause $23,000 worth of damages. In this instance, the tenant's insurance stepped up and paid to replace the deck. The other upside is the Owner's policy didn't make the claim and the Owner didn't have to pay the deductible. Smart management!
10. Property Condition Surveys and Properly Maintained Property
Your property is a valuable investment that appreciates in value when it is properly managed and properly maintained. To assist in maintaining the condition of your investment, an annual (or bi-annual) maintenance survey is provided to you performed by your property manager. These help you know and maintain the condition of your property proactively.
- Property Survey at Takeover - When we onboard a new property, the property manager walks that property and prepares a survey for you that establishes a baseline going forward. This initial survey is provided at no cost.
- Property Survey before Lease Renewal - The survey provides a look at the property prior to 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, and air conditioning and heating systems) on a proactive basis instead of a reactive basis. This information can also be a useful tool for tax planning purposes.
- Keeping you Informed - Each survey is performed by your property manager and unlike other management companies is not farmed out to a third party. This gives you the assurance that we know what 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 a Rollingwood Management client.