Property Information

Information for the Owners
When people call inquiring about property management, the two questions they usually ask are;
What do you do? and How much do you charge?
Getting right to the point, here are the answers. What do you do?
We basically take on all of the functions of the landlord for your property.

Typical Process:

1

We inspect the property, we can meet with the owner or owner's representative, or if no one is available to meet us and access can be made available to the property, we will make a summary sheet and take property photos for later review by phone, mail or internet conference with the owner. The property does not have to be vacant.

2

We suggest possible repairs to make the property rent ready if any are needed. We have contractors who can provide estimates if needed. They are independent contractors, not “in house or a division of Urban Residential. in other words, we make no profit from their work, and there is no conflict of interest. We have no maintenance oversight fee. They offer fair prices, quality work, done within an agreed time scale. Or, if you have maintenance people you want us to use, or perhaps you want to do some types of maintenance yourself, we will do everything we can to make that work too.

3

We can help determine rental value. We rent a lot of property. We constantly monitor the rental market. Our knowledge will help set the rental market value with the owner. The ultimate asking price, however, is the owner's decision.

4

We go over the Management Agreement and answer questions. Our agreement is direct and to the point. It is not a long term contract. If the owner's situation changes and you want to sell, move back in, or make other changes, you can do it with a short 30 days notice.

5

We advertise the property through our website; list them on multiple other internet sites, put up For Rent Sign, Newspaper ads etc.

6

We show the property, so you don't have to. We are available to make phone calls and emails.

7

We screen the applicant through verification of their business or employment status. They need to look good on paper. Plus we consider the applicant when we show the property. Are they on time? How is their appearance? What questions do they ask, and what comments do they make that would indicate their level of responsibility.

We look for someone who can afford the rent, has a good payment history, who likes and appreciates the property, and who appears to be someone who will treat the property with respect. When we have a viable applicant, we contact the owner and run it by them for their input.

8

We prepare a Rental Agreement. We meet with the tenant and carefully go over the contract with them. We want our relationship with the tenant positive and professional.

9

After move-in, our service includes, but is not limited to, rent collection, enforcement of rent collection, handle all tenant calls, oversee maintenance, inspections, bill payment, and other landlord duties. In addition to quarterly statements, we provide an annual property profile. We will keep you in the loop regarding any major issues and you don't have to deal with the tenants directly.

How much do you charge?

To rent out your property, we charge the 1st month’s rent. You pay nothing in advance. We take our fee from the move-in monies. You do not pay for advertising or other charges related to renting your property.

For continued management, we charge a percentage of the rent collected. The percentage will vary with the range and scope of work. It will range from 8% to 12%.

Non-resident owners who wish to keep their property vacant and use it occasionally, regular checks of their properties, and paying utility bills, and government taxes are basic functions of our ‘Key Holding ‘services. We charge a fixed monthly fee for this, which varies with the area the property, is located. It will range from Tk. 2000 to Tk. 3000 per month.