Property Management Services
Congratulations on your investment!
We are excited to partner with you to make it as profitable
for you as we can. One thing that many people often take
for granted, however, is that with any business investment
there is risk of loss as well. We highly encourage you to
make sure that you have money in reserve for unexpected repairs
and are able to cover the bills (like a mortgage) during
the periods of vacancy. We suggest to all of our clients
that they stay a minimum of one month ahead on their mortgage.
While our experience will aid your venture to be prosperous,
any property manager you choose cannot and should not make
guarantees of the future. We encourage all of our clients
to interview other property managers in the area before signing
a management contract—as each company has a different
management style and we want you to be matched well.
Your success guarantees our success, so we will, of course,
always be looking out for your best interests. We look forward
to working with you and taking on some of the “headaches” of
day-to-day property management for you.
What to expect from Windermere Property Management
We begin the process by having one of our property managers
evaluate your property and make recommendations to prepare
your property to obtain the optimal monthly income. At this
time, make sure your property adheres to certain rental conditions
provided by law. We will coordinate maintenance and improvements
that are approved by you with qualified, licensed vendors.
We do not make any profit from outside vendors, you will
be billed only actual charges.
The Windermere name has long been associated with excellence,
and will be an asset in drawing quality tenants to your property.
We also utilize local newspaper advertising, circulars, flyers,
restaurant menus, the internet, and the other Windermere
offices in Sequim and Port Angeles. We will post professional
signage on your property, and offer color pictures in our
office and on our website. All of these advertising options
are at no cost to you.
We use a quality third party screening service to verify
income, employment, references, and rental history and credit
worthiness. This screening is at no cost to you. Our goal
is not to “fill” a vacancy -we aim to provide
you, our client, with a long term resident who meets the
criteria to maintain a positive cash flow to your investment.
While we cannot guarantee tenant performance, we will endeavor
to provide quality residents. Evictions can be very expensive
and time consuming for our owners, so we work very hard to
make sure they are not necessary.
We will collect the first month’s rent and security
deposit prior to your tenant’s move in. We will draw
up and execute the lease, document on paper the move in condition
of the home (we also utilize digital pictures and/or video),
and explain the rules, rights, and expectations of tenancy
according to the laws of Washington State.
Rent Collection and Disbursement
Rent is due on or before the first of every month, regardless
of what day of the week it is. We provide each tenant with
the opportunity to pay via direct debit, by mail, in person,
or in the after-hours drop box. From this income, we deduct
any expenses and authorized deductions, and disburse the
rest to you promptly—either by direct deposit to your
bank or by check. We will mail you a monthly report with
all income and expenditures in detail, as well as the original
receipts and bills (paid on your behalf) for your records.
We do monthly drive by inspections of the outside of your
property. If there are any red flags (poor lawn maintenance,
debris/trash, broken down vehicles etc), we will schedule
an indoor inspection right away. Otherwise, we strive to
do them once a year, usually at the time of lease renewal.
When a tenant moves out, we use the same paperwork to inspect
the home that was used at time of move-in. We will schedule
any additional cleaning or repairs that need to be deducted
from their security deposit, and get the home ready for re-rental.
We will disburse the security deposit (which we hold in a
trust account) back to the tenant based on the laws of our
Tenants will report all maintenance issues directly to
us. We will call you for approval of non emergent issues
that exceed the predetermined maintenance provision included
in your contract with us. If the repair is a safety or health
concern, or one addressed by the Landlord-Tenant Act of Washington
State, we will follow the guidelines set forth in that Act.
Repairs that are not tenant responsibility will be itemized
and deducted from your monthly statement. We will get bids
on your behalf, when applicable, and will use the most cost
effective options available to us—but it is important
that our property owners understand that we are very serious
about following the letter of the law regarding health and
safety issues. We strive for excellence in providing you
with quality tenants, and providing
our tenants with quality homes.
Taxes and Reporting
In addition to your monthly statement, we will send you
profit and loss statements every six months. In January,
you will also receive the previous year’s report and
a 1099. We report gross rents to the IRS, as required by
law. You can use the Profit and Loss report to take to your
tax consultant along with the 1099.