The basics of property management and how we do it at Full Circle
So you own
or will own rental property? No matter if you are a reluctant landlord renting
out the home you lived in or are an experienced investor looking for value and
profit, a good manager can help you eliminate stress and enhance monthly and
long term value. Here in this publication is a guide to how to do that!
PART I: Pre-Rental Analysis and set-up.
of the most difficult things for an investor is to determine the correct rental
amount, so you can maximize your income without scaring away good tenants.
Tenants that will pay a higher rent than market rent are those that no one will
take, that have some evictions they are running from, and just need a quick
place to stay. Good tenants do their research, they know the market, and shy
away from the
ones or those needing work.
will assist you in analyzing your property and determining the correct rental
amount and what improvements may be needed to make your property “rent-ready”.
If there is work to be done, we can assist you with one of our preferred
vendors or our in-house
team, at a discounted rate, passing any of our discounts on to you as we have a
network of preferred vendors that are top quality vendors operating at
we will set up your rental bank trust account to collect the rent and pay the
bills each month, and we will use that account to transfer electronically any
deposits to your personal bank account, normally by the 10th of the month. A
separate bank account complies with Ohio law and also makes your accounting clean
and neat for taxes. We will also set up your secure online access where you can
see the repairs made, rent collected, run reports, and monitor how much money
is in your account, whenever you want-wherever you are, online 24/7.
PART II: Finding and screening a
The process of finding and
screening a tenant is a key component of successful management of your
property. We use a variety of ways to find tenants, including yard signs where
applicable and based on location. In addition, we use websites like craigslist,
Zumper, Trulia, Zillow, Hotpads, Padmappper, and a host of others.
Additionally, we keep a database of interested people who call us from time to
time looking for property in certain areas so sometimes we already have a good
tenant for a vacancy before you even sign up with us.
Screening your prospective tenant is thorough
and comprehensive. We screen all prospects for credit history, previous rental
history, criminal activity, prior evictions, sex offender status, source and
amount of income, and references. Tenants pay for this service with their
application fee so its free to you! We combine computer searching with personal
calls, unlike most rental companies.
are looking for the tenant who has income of 3 times the rent at minimum, clean
eviction and criminal record, good references from previous landlords, and
decent credit. We thoroughly screen tenants as those with a few blemishes in
the far past but good trending can sometimes make the best tenants. Once we
find a prospective tenant, we will make a recommendation to you, and you have
the final approval, not us. You will remain in full contact with us during the
process, being updated as we go, and we will make suggestions if the property
is not quickly rented.
PART III: Collecting rent and paying the owners:
out all the forms with the tenant, move them in and collect the rent in a
variety of ways to provide your tenant with the most chances and ways to pay on
time, including debit and credit cards, if they prefer. Rents are due on the
1st, late after the 5th with $50 late fee as standard in our lease. Once they
pay, we let the payment clear for 3 banking days, then electronically transfer
the rent, minus expenses and our fee, to your bank account. This bank to bank
transfer takes 3 business days due to Federal banking regulation, so in most
cases you will have your funds by the 10th to 15th of the month or
PART IV: Repairs to your property:
there is a repair needed, it will normally be at 3 AM, or on a holiday weekend!
Actually if that happens it is rare, but we do maintain a 24 hour emergency phone
service in case of emergencies. Maintenance calls come to our maintenance
department by phone, by email through the tenant portal, or from our website.
If they are minor, we normally save you money by using our in-house maintenance
staff, charging $55 per hour during normal hours. If the repair is outside our
normal skill level, like
complicated plumbing or electrical
issues, we will use one of our preferred vendors where we have negotiated
discounts that will be passed on to you. There is a small scheduling and
supervision fee on outside vendors prices, and we get preferred service and
the item is expensive, over $700.00, we will get bids and consult with you for
your decision with our recommendations. If you have vendors you prefer to use,
and they are regular contractors with insurance, we can use your vendors. Plus
you can always do your own repairs if you want, just let us know your
PART V: Reporting
of our owners will be provided access to our 24/7 website where you can see
your income, expenses, and run reports anytime you want. In addition you will
receive monthly email reports that you can print and save, normally by the 15th
of the following month, and an annual summary report at the end of the year for
easy transfer to your Schedule E for taxes.
PART VI: Pricing
We have some of the most competitive pricing in the
market, and the highest level of customer service. Our fees are flat,
maximizing profit for you and decrease based on units!
Sample Management Fee:
1—3 Units: $
75.00 per month per unit
4—7 Units: $
65.00 per month per unit
8 Units or more: $
55.00 per month per unit
* For special property like
multi-family or campus property or commercial please call.
Leasing Fee: $
500.00 per unit leased
Lease Renewal Fee: $
150.00 if tenant renews for 6 months or longer, includes unit inspection and
Late Rent Fees: 75%
to the owner, 25% to the management company
Top reasons to choose Full Circle Property Management:
flat monthly management fee saves you money!
fee of $500, and includes screening, showing, lease documents, move-in, and all
advertising costs. Tenants are fully screened!
maintenance department to keep your costs low and provide fast service at $55
per hour (regular hours) to save you money
Hour Maintenance service so you don’t get called at 3 AM, we do!
handle tenants from move-in to move-out, including eviction if needed (Eviction
mark-up on vendors and maintenance-you pay the actual bill price
licensed real estate brokers, regulated by State of Ohio
tenant fee– if the tenant does not stay the full year we discount our fees for
next tenant based on how long they rented
set-up fees, admin fees, or monthly vacant property fee
On-line website access to your account,
electronic funds transfer, and tenant pay online capability, 24 hours per day
in real time updates
Contact us at 614-538-1717 or email to