Castlegate Group, Inc.
About this pro
Outstanding organization! Full-service through listing only capable. Have been a customer for over two years and Castlegate Group Inc has vetted great renters and have had a great experience. I believe the renters would agree as well. David and Tamimy are very professional and make the process extremely easy for property owners! Would highly recommend.Jul 28, 2016
Professional in every way. Treated me as though I was their only customer!Mar 26, 2014Verified
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- What should the customer know about your pricing (e.g., discounts, fees)?Our pricing is not complicated. We can customize a plan that fits your needs and budget.Broker Fees To Procure a NEW Tenant = 100% one-month rent NO Property Management Fee charged for the 1st Month Lease Renewal – same Tenant 75% of Gross Rent To Procure NEW Tenant = 75% of Gross Rent + Co-Op Fee If no Co-Op involved – it’s not charged to you. Tenant already in place – Startup fee $150.00 + Property Management Fee Property Management Fees Monthly to choose from 6% - Program: Collection and Disbursement of Rents only 8% - Program: Full Service Management including 3 inspections per year 10%-Program: Full Service Management including 4 inspections per year We can customize a plan for you that fits your needs and budget Sales Commission – If you decide to sell the house to the Tenant We Procure, Brokerage is due 3% of Sale Price. NO HIDDEN FEES!!! Home Warranty Recommended – Reduces your Maintenance costs tremendously!! Example pricing: Home Warranty $430 year - $60-$75/ Trade call fee (billed to you by Home Warranty Company) $405 year - $100/ Trade call fee (billed to you by Home Warranty Company)
- What is your typical process for working with a new customer?GETTING STARTED Initial Property Visit A member of our Management Team must visit the property before we can set a price or agree to manage it. This visit must include interior access to the property. Proposal Immediately following the initial visit, Management will prepare a proposal containing a market rent survey of rents for comparable properties in the area and what Management Programs we offer. We will deliver these documents to you by email or in person. Engagement of our Services We must receive the following to begin the management engagement: • Signed Lease Listing Agreement & supporting listing documents if we are listing the property. • Signed Management Agreement & supporting management documents. • A key / garage remotes to the property. Property Inspection We will inspect the property during the initial visit, but once we receive the signed Property Management, Lease Listing Agreement and keys to property we will walk through the property to ensure we can accept the risk of placing a tenant in the property and that the property is ready to market. We will be inspecting the following: • Verify that all light fixtures work and have light bulbs. • Verify that all appliances are in working order and are clean. • Verify that house is “white glove” clean including, floors, countertops, appliances, cabinets, sinks, tubs and toilets. • Verify that furnace and air conditioning unit work. • Verify that all plumbing fixtures function properly. • Verify that all windows are operable. • Verify that all utilities are turned on. • Look for obvious structural defects. • Verify that property is in showing condition inside and out. • Verify that the property meets our requirements for move-in condition. • Required: If you have anything professionally cleaned prior to us putting the house on the market, we must have a copy of the receipt. In order for us to require the tenant to do the same at move out, this is required. (Carpets, windows, pressure wash etc.) Necessary Maintenance Needed After we inspect the property, send you a report if requested of our findings. If we find the property needs work, we will detail list of repairs/maintenance. You may elect to use our contractors complete the work or you may complete the work yourself and must be done prior to putting a qualified tenant in the home. * Marketing After the property is move in ready for tenant occupancy, we will take photos, place a sign in the yard (if HOA regulations permits) and market the property. OWNER DOCUMENTS We will provide a copy of all your listing & management agreement documents with all supporting documents including this manual. Listing Agreement This agreement under Georgia law allows us to list your home for lease in the Multiple Listing Service which reaches out to all Realtors and Syndicated sites for the broadest marketing your investment property. Management Agreement Under Georgia law we cannot manage your property unless authorized by you to do so in a management agreement. COMMUNICATION Communication is the key to success in our business relationship. We strive constantly to improve communication with all of our clients and prospective clients. This includes, owners, tenants, applicants, vendors, buyers, sellers and the public. OWNER RESPONSIBILITIES We take our business relationship seriously and request that owners do the same. Owners Responsibilities include: • Maintain the property in a condition that is marketable & habitable. • Notify us of any ownership changes or any communication, address etc. with accurate information. • Support Fair Housing Laws and guidelines, as well as all necessary legislation. • Maintain current insurance policy for the property and provide policy # and contact information to Castlegate Group as well as advise the insurance carrier that we are authorized to contact them on your behalf regarding any claims submitted regarding the property. • Review property insurance yearly and update as needed. • Provide Home Warranty policy information (if owner chooses to purchase one) • Provide HOA Contact Information to us along with a copy of Covenants or any changes that occur. • Provide Pest Control Information. • Provide Security/Alarm company information to us. Make us point of contact as well as yourself and supply code. PROPERTY MANAGEMENT NOT INCLUDED IN OUR PROPERTY MANAGEMENT SERVICES Some tasks go beyond what is covered in our property management services. • Refinancing • Staging • Fire or major damage restoration • Major Rehab Projects or Renovations • New Construction advice • Debt collection • Eviction and Attorney Services • Credit Counseling • Attending Homeowners Association meetings FUNDING We recognize the important of accurately collecting and distributing funds to our owners. *The first month’s rent is paid out to Brokerage as a tenant procurement fee. * For the remainder of the lease, we receive 6%, 8% or 10%, or other flat fee as a monthly management fee and the owner receives the balance of the rent less any expenses or repairs. (Refer to your Property Management Agreement for details). Owners funds are mailed or deposited into your account as instructed each month on the 10th, unless the 10th falls on a weekend or holiday, then it will be disbursed next business day. We do offer depositing to Suntrust, Bank of America, Chase, Wells Fargo Bank accounts currently otherwise your check will be mailed USPS. We will email/mail monthly statements along with your check outlining details of any deductions along with copies of any deduction invoices (maintenance, repairs, pest control etc.) PREPARING YOUR PROPERTY FOR RENT When prospective tenants schedule an appointment to view your property, we want to make sure it looks the best and be able to compete with other rentals in the same area. Requirements for property condition: • Carpets must be professionally cleaned or appear to have been. • All interior paint must be fresh or appear to be freshly painted. • All floors swept and mopped. • All cabinets, drawers and built in cabinets must be clean. • All appliances included in your rental must be operating and white glove clean. • All utilities must be on. • Landscaping/Curb appeal must be in good condition. • If anything requested by management on a work order needs to be completed over $250 , owner needs to complete that work by a licensed and insured contractor or professional or management handle work and either charge to a credit card or deduct from rent. Again….when a tenant moves in to your home, it must be “white-glove” clean and ready. We expect a lot from our tenants when they move out and they must leave the property in the same condition as when they moved in. We have the tenants sign off of a Cleaning Exhibit that is part of our lease that they must abide by in order to get their security deposit returned. Less work and out of pocket expense for everyone. MARKETING YOUR PROPERTY We display a “For Lease” sign at the property with our office contact information promoting calls on the home. We offer effective internet marketing. Each rental is entered into the FMLS database and therefore syndicates out to many other popular home advertising sites. We have found that internet marketing is far more cost effective than print advertising. We do not recommend print advertising but if you request it, we are happy to do so at an additional cost to you. We schedule showings for your property. Agents and Tenants contact us and we arrange showings in advance. We have a user friendly application process for Tenants. We prepare and execute leases with approved tenants. Thorough screening is crucial for successful property management. We require all applicants to fill out a detailed application and supporting documents, pay stubs, drivers license. All applications are processed through National Tenant Network directly. We examine the results which provides credit criteria, background, criminal report, rental history, employment history, Income stability and eviction history. If a Co-signer is required for certain situations, we will notify the owner, discuss the reason and obtain owner authorization. We typically do not accept Co-Signers on leases. PETS If owner authorizes a pet or pets in the home, there will be an additional fee required. This fee is split between Brokerage and Owner per your agreement. It is non-refundable to tenant and is not part of the Security Deposit. Service animals for handicapped persons are NOT considered pets by Federal law and owners cannot discriminate against handicapped/disabled persons with a service animal. Fair Housing legislation does NOT allow owners or property managers to collect deposits of any kind for service animals. MOVE –IN Rent & Security Deposits We require first month’s rent and security deposit by certified funds. Brokerage will hold security deposit in a no interest bearing trust account unless otherwise agreed by owner. Lease Once funds are received, a lease is completed. All persons 18+ are required to read and sign the lease and all exhibits and addendums. Move-In / Move-Out Inspection The leasing agent completes the move-in/ move-out inspections. We get photo’s before and after as well. COLLECTING RENTS * Rent is due on the 1st of each month . * If rent is not received by 15th then we will proceed with the eviction process. * All late fees are retained by Management. * If eviction is filed, we use “Evictthemforme.com” a Licensed Brokerage in Georgia”* an attorney is recommended. You can use your own attorney or you can utilize our Attorney. Notices of Violation to Tenant We will notify the tenant as situations arise if necessary such as yard violation, pet violation, occupancy violation etc. These notices will be in the form of a letter or legal notice form. Often these notices are simply to correct a minor tenant problem and most tenants comply. We will notify the owner if further discussion is needed in a situation. Tenant Problems We have years of experience with handling a range of issues and difficulties that can occur. Our policy is to obtain good tenants eliminating any tenant problems. However, even good tenants can have problems. We treat each problem equally and with common sense and with accordance with the Georgia landlord/tenant law and we use the appropriate documentation. If the situation finds to be serious, we will contact the owner and we will work together to find a solution. Maintenance Please reference your property management agreement for maintenance details. WE DO NOT UPCHARGE OUR MAINTENACE TO YOU. If maintenance repairs go over our $250 minimum, we will call you with estimates and payment might be required by you to pay contractors directly. Otherwise, maintenance comes out of rent each month. Tenant Move-Out Tenant must give Management 60 days notice prior to vacating. Management will conduct walk through within 3 business days after tenant vacates property. Tenant has then 2 days after we send our move out letter to respond with a dispute or not. Management will take photo’s at move-out inspection. We will blind copy you on the move out letter sent to the tenant. Security Deposit Refunds – proper handling of the security deposit refund is crucial. At move out if there are any damages we will have our contractors give estimates to disburse the security deposit accordingly. Please refer to your Property Management Agreement for details. The work must be done and receipts show exact amounts deducted from Tenants Security Deposit. Evictions/Dispossessories: There is an additional cost for this if necessary. You are welcome to hire you own attorney or we can process everything through ours, it’s your decision but we will inform you if it gets to this point. Cancellation of Management Services- NO FEE CHARGED! We require 30 days written notice to cancel your agreement with us with no penalty, unless any outstanding funds are due management. Please reference your Property Management Agreement for details.
- How did you get started doing this type of work?We developed a love for the business early in 1998. Although I started on a different real estate path, with being very successful in real estate investing and educating in that realm, the bigger picture was becoming an agent and then a brokerage.