DMHouseRentals.com - Property Management Company

DMHouseRentals.com Property Management, LLC is a full service property management company. We provide all the services you need to make and keep your property a success.

Advertising

• Getting your property rented quickly by a qualified tenant is our #1 priority.  We use a variety of methods to accomplish this.
• Print media: Des Moines Register, Other Relevant Newspapers and Publications in the Area
• Electronic media: All listings are posted on our web site at DMHouseRentals.com, Craig’s list, and various other web sites. Pictures are attached to each listing.
• Property Signage: A “For Rent/For Lease” sign is posted in front of the property.
• Flyers and Circulars: Posted at Local High Traffic Establishements

Tenant Screening 

While it’s important for us to keep your property occupied, experience shows that it is more important to be selective in a process of choosing a tenant. In the long run you will benefit because your tenant will normally stay longer and take better care of the property.  Our Screening process begins with a personal interview and the gathering of tenant background information.  Not only do we obtain a credit report on each individual, we also check with past landlords for rental history, verify employment and do a criminal check prior to occupancy.

• Prior to showings, prospective tenants are pre-qualified over the telephone according to the restrictions of the property (pets, smokers) and an appointment to show the property is made. If interested, application is processed and verified.
• We put all tenants through a careful screening process, which includes a criminal check, a credit check, confirmation of income levels, and verification of rental history.
• All tenants are notified in writing as to the application criteria with the rental application form. It can take 5 to 10 business days to verify all the applicant’s information to clear an applicant. The property will remain on the rental market until the applicant is approved and until all fees and deposits have been paid in full.
• If there is more than one applicant qualified to rent the property the applicant who is approved first will be given first option to rent the property.
• All applicants must be over the age of 18.
• A non-refundable fee of $35 per applicant must be paid to process the application.
• Each applicant must fill out a separate application form.
• All applicants must provide at least two sources of identification including one piece of photo identification.
• If the applicant has been a homeowner over the past 2 years we will ask for proof of ownership and mortgage payment history.
• If an application is denied the applicant(s) will be notified by mail.

Collect Rents 

Rents are due on the first of the month and delinquent after the fifth. We make every reasonable attempt to cooperate with a good occupant, to insure rental payment. Should an occupant become delinquent, our procedure is set by law to complete the eviction process.

• Collect first month’s rent and adequate security deposit.  All rent is due by the close of business on the first of each month. If the first is a Saturday, Sunday, or public holiday it then becomes due at the close of business on the next business day.
• On the 5th of the month all uncollected rents become past due and will incur a $40 late charge.   .
• Any delinquency is followed up promptly with personal contact and formal, 3-day written demand notice, as needed, at cost of legal services
• Bill and collect monthly rents during the entire term of the lease
• State-of-the-art computer-based billing and recordkeeping system ensures timely rent
• notification and collection
• Late charges are imposed whenever appropriate.
• On the 15th of each month unless this is a Saturday, Sunday, or public holiday all checks and statements will be mailed to the landlord with copies of all paid invoices, receipts, and work orders for repairs or maintenance.
• Online Rent Payment via credit card, allowing more tenant flexability.

Property Inspections 

Our policy is to do periodic exterior inspections and interior inspections a minimum of one time per year. If we see anything that would lead us to believe the property is not being maintained by the tenant as per the rental contract we make arrangements to view the inside. We maintain a file of digital photos of the interior and exterior of each property as part of the move-in move-out inspection. The exterior inspection may also include a photo to be added to our photo library.

• We inspect the property before a tenant moves in to make sure all heating, air-conditioning, appliances, etc are in working order. We will inspect the property when the tenant moves-out thus ensuring a well-kept and marketable property.
• We conduct routine, announced inspections of every property we manage. Residents are present and problems are corrected promptly.
• Once a month we will make an unannounced drive by of the property to make sure that the yard and the exterior of the property are being kept up. Any needed yard or exterior maintenance issues will be reported to either the tenant or the landlord depending on whose responsibility it is to perform the maintenance. This will catch minor issues before they become expensive ones.
• Bi-annually we will do a walk through inspection of the property and any needed repairs or maintenance will be reported to either the tenant or the landlord depending on whose responsibility it is to perform the repair or maintenance. Again this is with the hope of catching minor issues before they become expensive ones.
• When residents vacate, a thorough check-out inspection is conducted.

Property Maintenance/Repairs 

We offer the flexibility of using your choice of professionals or to use our qualified and experienced team selected for responsiveness and cost efficiency.  Our management contract includes a provision to spend a pre-authorized amount of money to make repairs to the property. These costs are itemized and deducted from your gross rent receipt. You are responsible for the costs of all repairs beyond those identified as the tenant’s responsibility in the tenants residential lease agreement. There can be no compromise on safety. The issue of whether or not to make health and safety repairs are specifically addressed in the Landlord-Tenant Act. Any health and safety issues that arise will be addressed immediately in the most cost effective method possible. We will notify you of the issue and discuss repair options, but the repairs will be made.

• Project manager on staff for on-site repairs and general maintenance
• 24/7 tenant emergency service availability to keep property landscaped, clean and well maintained
• Regularly-scheduled inspections by in-house field operation managers
• Facilitate all insurance claims
• We monitor all contracted labor and accurately document all expenditures.
• We can handle all aspects of maintaining or upgrading your property. Investment properties require top of the line service at a minimal cost to insure the highest return possible.
• If you have a preference for a service provider we will be more than happy to use that person with your written request.
• We will obtain all necessary bids for maintenance and advise you, the landlord, of these costs as stated in the contract.
• We will have all repairs performed on the landlord’s behalf up to the amount of the owner’s reserve fund.
• At the end of each month along with the rental check the landlords will receive a copy of all invoices, receipts, and work orders for repairs or maintenance done on their property.
• The tenants are expected to report all repair issues to our office promptly so they can be fixed in a timely manner.
• After a repair has been completed a member of our staff will perform a quality inspection.

Record-Keeping/Financial Services

We provide easy to understand quarterly financial statements. Our service includes paying the expenses for your property, if you chose us to. This can include mortgage payment, insurance payments, homeowner dues, real estate taxes, etc. These payments are deducted from the rent collected.  We keep accurate and timely records on all aspects of the management of your property. We maintain records that reflect all rental income and expenditures incurred in connection with our management of the property. These records are maintained in our office. We provide Owner originals of all invoices, statements, purchase orders, and billings received and paid during such preceding month as well as such other information relating to the management of the property that, in the opinion of Agent, requires the attention of the Owner.

Insurance:

Our management agreement includes the requirement for every landlord to carry fire and extended hazard insurance coverage on the property and the improvements situated on the property. We include indemnification and hold harmless language in our agreement and also require that DMHouseRentals.com Property Management, LLC be named as an also insured in any policy covering the property. We strongly recommend to tenants that they purchase renters insurance.

Residential Landlord-Tenant Act:

We manage your property within strict compliance with the State of Iowa’s Residential Landlord-Tenant Act. We provide a copy of this regulatory document to both owners and tenants. We encourage all our clients to understand this governing document.

• Preparation of quarterly financial statements: balance sheet, income and expense statement, aged payables and receivables, deposit reporting, and vendor payment list or check register, based on cash or accrual accounting methods, whichever is appropriate for you.
• Develop annual statement for tax purposes
• Preparation of all documents for legal and binding leases as prepared by
• landlord/tenant law attorney
• Keep track of tenant occupancy through move in/move out reports.
• Rental income can be mailed to the owner, deposited into a bank account or kept in your rental account.
• In accordance with Iowa State trust law, the security deposit in the amount of one months rent is deposited into a non-interest baring trust account. Said deposit shall not be used as last months rent.
• Complete double-entry accounting, using generally recognized standard accounting practices with a separate income and expense ledger maintained for each property.

Move In & Move Out/Evictions/Vacancies 

Inspections of each unit are done before the new tenants move in, small repairs that are needed are noted and are completed promptly also any existing normal wear is noted. When the tenant moves out another inspection is completed. Any repairs deemed to be the occupants responsibility are completed and deducted from the security deposit. The property is then cleaned and painted, if necessary, and made ready for the next renter.

Minimizing the costs of vacancies and turn-around times are important concerns at DMHouseRentals.com Property Management, LLC.  To minimize vacancies lease expiration dates are monitored carefully by computer, and Renewal Notices are forwarded to tenants approximately 45 days prior to expiration. The Notices include any necessary revisions in price or terms, and the lead time helps eliminate month-to-month extensions.  Vacating residents are required to give 30 days notice. This policy helps us prepare, advertise and re-lease the property with minimal losses in revenue.

If an eviction is required, we handle all aspects of the eviction process at the owner’s expense. The screening process we use will help to eliminate this unpleasant aspect of the business. Our goal is to never have to take this action.

Additional Services We Provide

• We negotiate with tenants the terms of the rental agreement within the parameters agreed to in our management contract. We also negotiate with service providers to provide you the most cost effective maintenance service.
• Routine tenant relations and correspondence.
• Lease preparation and move-in Availablity. (May be additional charge.)
• We will advise you on competitive rental rates based on location, physical condition of the property, and market conditions.
• Asset management functions (e.g. loan and insurance procurement)
• Complex resident problems.
• Coordination of legal case or matters, insurance claims.
• Rent Board Petitions, preparation or representation.
• Rent Board Appeals.
• Complete payroll services, when required.
• Vendor 1099 reporting, when required.
• Federally mandated annual lead notice & documentation of same.
• 3rd Party vendor work, Repairs and maintenance (such as locksmith, plumbing, painting, roofing, electrical, etc.).
• Janitorial services.
• Coordination of contractor improvements (contract RFP, bids, negotiation, documentation, review and standardized contract addendum for Owner’s protection are included).
• Building renovation contractor oversight and management.
• Insurance claim processing and coordination of insurance repair work.
• Quarterly and Annual property inspections with contractor.
• Pre-move-out inspection(s) when requested by resident.
• Vacation back-up of on site employees.
• We also recommend that you put aside each month a percentage of the monthly rent to cover future maintenance and repairs (painting, leaky roof, carpet, flooring, etc) or any unforeseen problems that may occur.
• Giving the tenant the appropriate notice (usually one-month) before terminating the rental agreement.
• Giving the tenant the appropriate written notice (usually 24 hours) before performing inspections of the property.
• Removing or arranging for all items to be removed that may become damaged by the tenants, prior to renting the property.