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

Market Analysis

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.

Marketing

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.

Tenant Screening

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.

Tenant Move-in

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.

Inspections

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 state.

Repairs

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.