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Why choose property management?
Maybe you have just inherited a property and don’t have the experience or you are a busy professional with no time. Maybe you are relocating or finally retiring. Perhaps you administer a trust and need a third party to handle the trust’s affairs. Whether you are a first-time home buyer, property investor or an experienced apartment owner, Peergroup Corporation can assist you with all your real estate needs. We have great success in making sure that properties are leased to qualified tenants and that the properties are properly maintained. Peergroup approaches property management as an income-generating business. We are not doing our job if we do not keep your expenses low and your income high. To do this Peergroup maintains a high standard of reliability and accountability, and gives owners the true peace of mind that comes with knowing that their property is in the best hands possible.

Once I start with Peergroup, who do I talk to? Who handles my property? Who do tenants call?
Communication is the key to a successful property management relationship. You are assigned an experienced Property Supervisor familiar with the area in which your property is located. The Property Supervisor is available via cell phone or text message, and will be your day-to-day contact. Many questions can also be answered by our staff, including bookkeepers and senior staff members. Similarly, tenants have direct access to the Property Supervisor. In addition, they can make maintenance requests online using our online form which is automatically e-mailed to us, by faxing, mailing, or e-mailing a maintenance request form, which is available on our website for download, or by calling our office during business hours.

How do you decide what rent to charge when there are vacancies?
Your Property Supervisor will do a market survey of rents charged for similar rental units in your area. We are also leasing units on a daily basis, and are very familiar with the market and changing rents. Based on this information and consultation with you, the Property Supervisor will determine an asking rent that appears competitive.

How do you advertise your vacancies?
Peergroup markets vacancies by whatever means that have proven effective, we start the marketing process as soon as we are advised of a vacancy. We place ads on our website as well as on Craigs List, Westside Rentals, Zillow and many other online rental searches. We update these ads EVERY DAY until your vacancy is rented. Because of our reputation many prospects contact our office for a free list of our vacancies and look at our website on a daily basis. Applicants are also able to apply directly through our website. We will also put eye catching signs and banners on your property giving rental prospects access to our services. Ads are also placed in the print media (PennySaver, LA Opinion, El Clasificado, etc.), tenant incentives, and by distribution of flyers.

Can I see the application and approve the tenants?
Peergroup typically screens and approves the tenants, as our staff is trained in issues such as credit screening and fair housing. Our software has very strict parameters for determining credit worthiness. In addition, we check all applicants’ rental history and verify employment. We are very careful in choosing tenants, as we have to interact with them on a daily basis. In other words, it’s to both our advantage to choose carefully!

How do you handle Security Deposits?
When your tenant vacates, we will provide all required accounting of the tenant’s security deposit within the time legally allotted. If there are damages they will be deducted from the security deposit. We are allowed by law to charge the resident’s deposit for rent, damages above normal wear and tear, and cleaning. We want you to know that we consider this an important time in the management cycle, and we will protect your interests.

How often do you visit the property?
When a property first comes under Peergroup management, an interior and exterior inspection is scheduled as soon as possible to determine if there are any health and safety issues which need to be addressed. This includes such items as smoke detectors, water leaks, or trip hazards. Obviously, if there is a vacancy, the property will be shown as appointments and open houses are scheduled, sometimes on a daily basis. Once the property is full and the initial inspection has been done, the Property Supervisor will schedule regular drive-by and walk-through inspections not less than twice per month. All interiors of units are inspected a minimum of once a year.

Who collects rent?
Tenants can pay rent by either mailing, dropping it off at our office, or paying to the property supervisor. When rent is received it is immediately placed in your property’s operating account. At this point all bills that Peergroup is directed to be paid are paid.

When do you serve 3-Day Notices? Who handles evictions?
Peergroup is very aggressive in rent collections. If rent has not been received from a tenant by the 5th of the month, Peergroup will serve a three day notice to pay or quit. We do our best to work with tenants to keep units occupied, but if a tenant has lost their job, or falls ill and cannot pay rent, and chooses to stay in the residence, Peergroup works with highly experienced eviction attorneys to regain possession of the unit as quickly as possible. The eviction attorneys we use are reasonable in cost.

What happens if there is an emergency after business hours?
When you hire Peergroup, we become responsible for your property 24 hours a day. There are always a property supervisor and a senior staff member on call to quickly address emergencies.  We have access to vendors who can respond in an emergency, no matter what the hour.

Can I use my own vendors?
Peergroup often continues to use an owner’s regularly scheduled vendor, such as the gardener or pool service. While we are happy to use your own vendors, one important benefit of Peergroup’s management is that we have developed relationships with vendors, such as plumbers or electricians, who charge low rates and are reliable, because Peergroup gives them a significant volume of business. You, as the owner, benefit from these vendors’ excellent service and prices.

I am really nervous about racking up big maintenance expenses. How do you control expenses? Can I approve all work?
Peergroup always attempts to improve your bottom line, and one way is to control expenses. For major repairs, such as re-piping or re-roofing, several bids are obtained, and Peergroup will get your written approval. Our typical contract requires us to get pre-approval from an owner for any one expense item if they are over $1,000, excluding turnover costs and regularly occurring monthly expenses (i.e. utilities, etc).  However, if there is an emergency, such as a burst water heater, or a government inspection requires certain work, or, a routine repair is requested, such as a leaking faucet, or broken toilet, then Peergroup will go ahead with the work and keep you informed. Our vendors are reasonable and reliable; otherwise Peergroup would not utilize their services. In addition, if it is discovered that a tenant caused the damage, we charge the tenant for reimbursement of the repair expense.

When do I get my financial report and what does it include? When do you send the monthly owner distribution checks?
A detailed report is sent out by no later than the 15th of every month, for the entire previous month. These reports are easy to read, and can be tailored to your specific needs. In each report, at a minimum we include a Cover Letter highlighting major issues, a Rent Roll, an Income & Expense Statement, a General Ledger a copy of the most recent Operating Bank Account, a Deposit Register, an Expense Register with copies of all bills paid, if specifically requested by Owner. Reports are either mailed or emailed, depending on your preference.  The owner distributions are sent after all expenses are paid for the month by the 7th of the month electronically, or can be mailed in check form with your monthly report by no later than the 15th, whichever you prefer.

We own the property with several partners. Can we get separate disbursements?
Our software can easily disburse funds based on pre-assigned percentages. We can also send our monthly reports to more than one owner.

Why do I need liability insurance for my property?
You wouldn’t drive without car insurance, or go without health insurance. Similarly, as a landlord, you must have insurance to protect you from the unexpected. If you don’t have insurance in place, Peergroup can provide you the names of several agents to contact and obtain proper coverage.

Are your prices competitive?
Our management fees are very competitive and reflect our expertise and commitment to excellent service. We have found that poor management can have a very high cost. When ALL fees are considered, we are actually less expensive than most companies around.

Call (323) 954-7575 to sign up with Peergroup Corporation, and don’t forget to ask about our monthly special today!