How Does H&M Property Management Screen Applicants?
H&M Property Management follows a comprehensive screening process in accordance with state and federal laws. Our screening criteria include but are not limited to: credit check, income verification, rental history, criminal background check, and references.
Please note that in accordance with California SB 267, applicants that receive a government subsidy will be given the option to provide alternative proof of ability to pay in lieu of a credit check.
Our screening process is designed to be fair and transparent while ensuring the quality of residents in our properties. If you have any specific questions or concerns regarding our screening criteria, please feel free to ask.
What Services Does H&M Property Management Offer?
H&M Property Management is proud to offer a wide variety of services tailored specifically to your needs as an RPO (Rental Property Owner).
Some of the services provided include but are not limited to: Property Marketing, Tenant Screening, Lease Preparation and Execution, Rent Collection, Property Maintenance, Financial Reporting, Resident Relations, Real Estate Services, Legal Compliance, and Property Inspections.
What Real Estate Services Does H&M Property ManagementProvide?
H&M Property Management excels at putting together creative deals in the ever changing real estate market. With over 50+ years of experience, our team has a proven track record of structuring innovative solutions such as lease options, seller financing, and other creative arrangements.
Whether you’re looking for a traditional or non-traditional approach to buying or selling, our expertise ensures that we can tailor solutions to meet your specific needs.
What Is The Process For Reporting And Resolving Resident Issues Or Complaints?
We handle resident issues and complaints in accordance with state and federal laws to ensure a fair and complaint resolution process.
Our approach includes but is not limited to: Open Communication, Timely Response, Legal Compliance, and Documentation. If you have any specific questions or concerns, please feel free to ask.
How does H&M Property Management handle rent collection and late payments from residents?
H&M Property Management utilizes a technologically innovative cloud-based software that allows residents to submit their payments directly from their personalized portal. Late payments are managed in accordance with state and federal laws.
Upon the expiration of a standard grace period, a notice is served and mailed to the resident. If no payment is received and no payment arrangement is made, we consult with the rental property owner to decide on the next steps, which may include filing an unlawful detainer as a last resort.
It’s important to note that we make every effort to collect payments promptly to avoid the need for unlawful detainers, as they can be time-consuming and expensive for all parties involved.
Our goal is to maintain positive landlord-tenant relationships while upholding legal obligations and ensuring timely rent payments.
When Will My Owner Draw Be Processed?
H&M Property Management processes Owner Draws on the 25th of each month, which allows us to offer a rent grace period and sufficient time for due diligence to collect late rent payments, as well as to pay any bills associated with the property.
However, if your resident is a recipient of a government subsidy, your Owner Draw will be processed on the 10th of the month.
What Are The Fees Associated With Using Your Property Management Services?
Our management fees are structured based on the services provided and can be tailored to meet specific needs.
For standard property management services for a single residence, we currently charge 8% per month of the rental income, along with a 50% lease fee each time there's a resident placement or turnover.
Since we offer a wide variety of services that can be customized to your specific needs, we recommend discussing your requirements with us directly. This way, we can provide a detailed breakdown of the fees based on the services you require.
How Often Do You Conduct Property Inspections, And What Is Included In These Inspections?
For properties with a set lease term, we conduct property inspections 45-60 days before the expiration of the lease term.
We assess the condition of the property, identify maintenance or repair needs, and address any issues before the lease renewal or termination. Our standard property inspections include Interior Inspection, Exterior Inspection, Safety and Compliance, and Documentation.
Additionally, we offer the option for a higher frequency of inspections at an increased cost, depending on the specific needs and preferences of the property owner.
This allows for more frequent monitoring and maintenance to ensure the long-term integrity and value of the property. For specific questions regarding our inspection services, please feel free to ask.
Do You Offer Any Online Portals Or Tools For Property Owners And Residents To Access Information?
We are pleased to offer a portal for both our residents and property owners, providing convenient access to various functionalities. Please feel free to inquire about any specific functions or features you would like to learn more about.
What Steps Do You Take To Ensure Compliance With Local, State And Federal Laws And Regulations?
At H&M Property Management, we prioritize legal compliance as a cornerstone of our operations. Our team is committed to staying abreast of the ever-evolving landscape of local, state, and federal laws and regulations. We achieve this through continuous professional development, including participation in specialized courses, seminars and webinars.
By proactively pursuing knowledge and staying informed about legal intricacies, we ensure that every aspect of our property management practices aligns seamlessly with legal standards.
This dedication empowers us to provide our clients with comprehensive and compliant services, safeguarding their investments and promoting trust and confidence in our management approach.
How Do You Handle Emergencies Or After-Hours Maintenance Requests?
For maintenance issues, residents are encouraged to submit non-emergency maintenance requests directly from their resident portal. This streamlined process ensures that the request is received promptly by our dedicated maintenance department.
Our team assesses the issue and schedules a qualified technician to assess and fix the problem efficiently. In case of emergencies, we have a dedicated phone line specifically for emergency maintenance requests. This allows us to address urgent issues promptly and ensure the safety and well-being of our residents and properties.
What Types Of Properties Does H&M Property Management Manage?
H&M Property Management manages multiple types of properties including, single family residential, multi-family residential, and commercial.
Do You Offer Financial Reporting And Statements For Property Owners?
Yes! We issue monthly statements on the final day of each month to provide a comprehensive overview of your properties income and expenses for that month.
This allows you to have a clear understanding of your financial position and track the performance of your investment.
Additionally, 1099s are issued on January 31st each year, and along with the 1099s, you will receive a year-end report that summarizes your properties financial activity for the entire year. This report provides valuable insights for tax purposes and financial planning.
Can You Provide Information On Insurance Options For Rental Properties?
We advise our clients to consult with a licensed insurance agent to discuss their specific insurance needs.
However, as per our company policy and property management agreement, property owners are required to hold a $1,000,000 insurance policy for any property that we manage naming H&M Property Management as additionally insured.
This requirement helps ensure adequate coverage and protection for your investment.
How Do You Handle Property Damage Caused By Tenants?
We conduct regular property inspections that include preventative maintenance measures to minimize the risk of resident-caused damage. However, it is impossible to guarantee that a resident will not neglect your investment.
In the event of resident-caused damage, we address it promptly and professionally and require per our contract that the tenants to carry a $100,000 landlord liability policy.
We follow state and federal laws by providing the resident with a notice outlining the damage(s) and the required action(s). If the damage is discovered at the time of move-out, any necessary repairs or damages are deducted from the security deposit, as allowed by law.
If the amount owed exceeds the security deposit, we provide the resident with a 30-day period to provide payment. If no payment is received within this timeframe, we escalate the matter by turning the file over to a collection agency that we are partnered with.
This process ensures that any outstanding amounts are pursued in a timely and effective manner.
Can You Assist With Legal Matters Related To Rental Properties, Such As Lease Agreements And Eviction Proceedings?
While we possess extensive knowledge regarding the complexity of landlord-tenant laws, it’s important to note that none of our staff are attorneys or lawyers.
However, we are committed to exhaust every option to resolve legal matters effectively. If necessary legal action arises, we will assist you in hiring a qualified attorney who specializes in real estate and landlord-tenant law.
We will work closely with the attorney and provide them with any necessary information or assistance to ensure a smooth legal process and protect your interests.