Full-Service Property Management
Connecting with 5 Star Property Management provides you with access to a team of experienced professionals who are dedicated to making your job as a property owner as seamless as possible. Protecting the value of your real estate investment is our promise. Let 5 Star help you by:
- Meeting with prospective tenants to show properties and explain terms of occupancy.
- Collecting monthly assessments, rental fees, and deposits and payments.
- Inspecting grounds and facilities routinely to manage necessary repairs or maintenance.
- Investigating complaints, disturbances, and violations.
- Negotiating the lease of properties and completing or reviewing appropriate documents and forms.
- Maintaining records of rental, maintenance, and operating costs.
- Determining and certifying eligibility of prospective tenants – following government regulations.
- Preparing and administering online delivery of monthly income and expense reports, annual statements, and 1099s.
- Marketing vacant spaces to prospective tenants through leasing agents, advertising, and other methods.
- Reviewing rents to ensure that they are commensurate with market rents.
- Preparing and administering contracts for provision of property services such as cleaning, maintenance, and security.
- Analyzing information on property values, taxes, zoning, population growth, and traffic volume and patterns to determine if properties should be acquired.
Lease Only
If you enjoy managing your own property, our Lease Only Service can list your property for rent and screen applicants. During our screening process, we verify employment, rental history, credit history, court history, and criminal background. You are then equipped to make an informed business decision toward placing the right tenant in your property. 5 Star’s Lease Only Service also includes:
- Meeting with prospective tenants to show properties, explain terms of occupancy, and provide information regarding local areas.
- Negotiating property leases and completing or reviewing appropriate documents and forms.
- Determining and certifying eligibility of prospective tenants – following government regulations.
- Marketing vacant spaces to prospective tenants through leasing agents, advertising, and other methods.
- Reviewing rents to ensure that they are commensurate with market rents.
Frequently Asked Questions
| What Process Do You Use to Screen Potential Tenants? |
At 5 Star Property Management, finding a great tenant is a top priority. That’s why we carefully screen each applicant, running extensive background checks which include criminal, sex offender, and credit. Additionally, we verify employment, explore applicant rental history, and perform an identification check.
| What If My Tenant Must Be Evicted? |
With our multi-step screening system in place, tenant eviction is a rare occurrence. However, if a tenant is past due on rent and requires an eviction – you won’t have to worry. 5 Star’s management agreement gives us authority to go to court on your behalf. We process evictions through an agency that makes the process systematic and seamless for our clients.
| When Should I Expect to Receive My Monthly Rent? |
Rent is due by the first of the month. After the monthly management fee is deducted (along with any approved maintenance bills), the owner withdrawal is processed by our full-time bookkeeper. Owners should expect remaining funds to be direct deposited or mailed between the 11th and 15th of each month.
| Do You Also Manage Commercial Properties and/or HOAs? |
Yes. 5 Star’s managing broker has 21 years of experience in commercial real estate. At the end of 2019, 5 Star property-managed 72 commercial units and HOAs.
| I Already Have a Tenant in My Property, Will You Still Manage It? |
Yes. After completing the appropriate paperwork, your tenant(s) will receive a letter of introduction signed by the property owner and our managing broker. 5 Star will coordinate inspecting the property and share any changes of tenancy with the tenant.
| What About Repairs and Maintenance? |
5 Star Property Management requires all tenant maintenance requests to be submitted in writing. We include our clients in these communications, so they are notified in real time.
In the event of a maintenance emergency (fire, flood, etc.), 5 Star Property Management reserves the right to employ stopgap measures to maintain the integrity of the home.
| Do I Have Any Input on What Repairs Are Performed? |
Absolutely! As a property management client, you have previously approved minor repairs up to a certain price point (typically a few hundred dollars). If the cost of the repair exceeds this pre-determined price point, we will reach out (typically via e-mail), seeking your written approval for repair facilitation.
Note: Please be aware that there are a number of common transitional repairs that may need to occur within the first few weeks of tenant occupancy. We encourage owners to be prepared for maintenance requests during this period.
| Do You Conduct Property Inspections? |
Upon owner’s request, Broker/Manager shall provide a complimentary property evaluation one (1) time per year, consisting of a visual inspection of the property and a written report, which may or may not include photographs. Owner agrees to pay Broker/Manager a fee of $90 for any additional evaluations.