FAQs
- What should the customer know about your pricing (e.g., discounts, fees)?
Standard Management Fee: Our management fee is a flat 10% - 20% of the monthly rental income. This fee covers the comprehensive management of your property, including tenant placement, rent collection, maintenance coordination, and financial reporting. Initial Setup Discount: We offer a 5% discount on the first month's management fee for new clients. This is our way of saying thank you for choosing Reaux's Properties Vacant Property Fee: During periods when your property is vacant, we reduce the monthly fee to a flat rate to cover basic maintenance and property checks, ensuring it remains in pristine condition for prospective tenants. Tenant Placement Fee: We charge a one-time fee equivalent to 50% of one month’s rent upon the successful placement of a tenant, which covers the costs of advertising, showing the property, screening tenants, and preparing the lease agreement. Long-Term Commitment Bonus: For clients who sign with us for a period of two years or more, we offer a reduced management fee after the first year as a token of appreciation for your long-term commitment to our services. Referral Program: We value referrals greatly and offer a credit off your next monthly fee for any new client you refer who signs a management contract with us.
- What is your typical process for working with a new customer?
Initial Contact: Customer Inquiry: The customer reaches out via phone, email, or an online contact form. Initial Response: We promptly respond to acknowledge receipt of the inquiry and gather basic information about the customer's property and needs. Consultation: 3. Consultation Scheduling: We schedule a free initial consultation, which can be conducted in person, over the phone, or via a video call. Needs Assessment: During the consultation, we discuss the customer’s specific requirements, the services we offer, and how we can tailor our services to their needs. Property Walk-Through: If the customer is interested, we schedule a time to visit the property for a thorough walk-through to assess its condition and discuss management details. Proposal and Agreement: 6. Service Proposal: We provide a detailed written proposal outlining our services, fees, and any other conditions or responsibilities. Contract Review: The customer reviews the proposal and contract, with the opportunity to ask questions or request modifications. Agreement Finalization: Once the customer is satisfied, both parties sign the management agreement. Onboarding: 9. Customer Onboarding: We collect essential documents and information, such as property deeds, service agreements, tenant leases, etc. Property Onboarding: We conduct a detailed inspection, record property condition, set up maintenance plans, and, if necessary, begin the tenant placement process. Systems Setup: We set up the customer in our property management software, where they can track property performance, financials, and maintenance requests. Management Commencement: 12. Service Implementation: Our full suite of management services begins, including tenant communications, maintenance coordination, and rent collection. Regular Reporting: We start our cycle of regular reporting to the customer, as per the agreed schedule (e.g., monthly financial reports). Ongoing Communication: 14. Routine Check-Ins: We establish routine communication with the customer to discuss updates, provide advice, and receive feedback. Continuous Improvement: We continually review our service provision and adapt to the property’s evolving needs. Throughout this process, we emphasize transparency, communication, and quality service. We make it clear that the customer's satisfaction is our priority and that we are committed to the care and performance of their property. Each step is designed to build trust and establish a strong working relationship that will last for the duration of our management agreement.
- What education and/or training do you have that relates to your work?
Educational Background: Master’s Degree in Business Administration: This foundational degree provides a comprehensive understanding of real estate principles, property valuation, finance, and business operations. Professional Certifications: 1. Certified Property Manager (CPM) Designation from the Institute of Real Estate Management (IREM) 2. Residential Management Professional (RMP) from the National Association of Residential Property Managers (NARPM) Training and Workshops: 1. Fair Housing and Legal Compliance Training 2. Financial Management Training 3. Maintenance and Building Systems Training