Mila Realty rental portal is a perfect solution for busy homeowners to oversee the performance of their rental property. The portal gives our owners instant access to review your statement at any time. In addition to the portal, owners will also receive a PDF detailed copy of the monthly statement that will show all transactions that had taken place during the designated time-frame. So, what else is great about our owner portal?
1. Financials and General Ledger
The Financials tab of the portal shows the full income and expense activity for the property. The homeowner can drill down to specific line items within the General Ledger as well as obtain specific transaction details.
2. Documents
The Documents tab…
Per Section 193.052, Florida Statutes if the assessed value on the return is greater than $25,000, a return should be filed. All Taxpayers who lease, lend or rent property must file a return. Property Appraisal Offices will apply 5% penalty per month or portion of a month on Returns filed late. A 15% penalty is required for unreported property, and a 25% penalty if no Return is filed.
Property renting is one of our strongest property management capabilities. It actually starts with the free market analysis. After locating most reasonable rental comparable, our property managers present the proposal to the investor. The homeowner will receive most recent and accurate data, so the potential property income can be estimated.
Our average Tenant Placement is 10 days. To achieve this results we are making sure that property is accessible and ready for showings.
We follow simply steps described below:
1) We take property images, and start advertising
2) We process inquiries from the prospects, pre-approve the prospects, and schedule showings
3) Once we receive a rental application, we start a background check, income verification, employment verification, and rental verification.
4) Our general requirements for most of the properties are no evictions, 3 times income, and credit score 600+.
5) If applicant is approved, we receive a Good Faith Deposit, and remove the property from the market.
6) Then we do preparation for the move-in inspection. We prepare the lease agreement. Resident connects the utilities and obtains the rental insurance. Needed repairs to be performed.
7) Once property has utilities, we…
Great question. Most of the homeowners who transferred their estate to us from another management were dissatisfied the high cost of repairs, poor communication, and low efficacy per se. We do conduct a detailed move-out inspection, and resident will sign it. Then manager will compare and analyze both move-in and move-out reports. The office will issue a Security deposit claim when applicable. Resident will have 15 days to dispute it. If not disputed, security deposit will be withheld in amount to cover the damages caused during the tenancy.
Also, few words about the transition itself. Once we complete On-Boarding paperwork, we will contact your property manager and request a transition. We…
If we advertise vacant property, normally we leave leave a lockbox by the front door unless instructed differently by the owner. Lockbox will allow Licensed realtors to access the property by extracting the access ode from MLS. In case when potential applicant does not have a realtor, one of our representatives will the property. During the showing we explain applicant the next step and discuss application process.
Rental prospects may contact us directly or through the real estate agents. About 80 percent of the leads we generate internally, with our own marketing efforts. When prospect contact us, we want to make sure that there is a good fit. Therefore, we ask when is desired move in? We understand that homeowners dislike the gaps, so we want to have as little vacancy as possibly. Then we try to pre-approve potential applicants. We ask about their income, credit score, and other important requirements. Once we determine a good fit, we schedule showing.
Maintenance need may arise if resident creates a ticket through tge tenant portal, if the homeowner submits a request, or if need was detected during the property inspection conducted by one of our Property Managers. Firstly we assess the need of repair. In case when repair costs more than $200, we collect serveral quotes and obtain owner’s apporval. In event of emergency, Property Manager may solely decide what route to take considering the best interests of the property and the homeowner if owner does not reply wihin 24 hours from the approval request. What relates to the minor repairs, these are mainly taking care of by our in-house maintenace team.
Maintaining assessment rolls
Managing the assessment coupon books
Collection and deposit of assessments into an insured bank account
Preparation and processing of past due notices, intent to lien notices and liens
Managing the collections of delinquent accounts