Why Patrize Properties?
- Signed property management agreement
- IRS form W9
- Certificate of insurance, with Patrize Properties as an additional insured
- Two copies of all Keys, garage remotes, and fobs if applicable.
Once a tenant submits their 30-day notice we begin showing your property to find a replacement tenant to move in as soon as possible after the current tenant moves out. The average vacancy period is only seven days which significantly reduces vacancies and maximizes your return.
Reduce Maintenance Cost
We work with a network of vendors and handymen that provide us a discounted rate which we pass along to you. The relationships we have with our vendors allows us to ensure that repairs are done quickly and properly so the tenant can continue enjoying your property.
Our agreement is for one year and becomes goes month-to-month thereafter.
We receive this question often so we decided to dedicate a page going over the answer.
Pricing & Accounting
Our management fee is deducted from your monthly owner distribution.
One month’s rent for qualified applicants.
Security deposits may increase depending on the applicant’s credit or if they have a pet.
Statements can also be accessed through the owner portal.
We use multiple sources to review comparable rentals, market rate, and apply our deep local knowledge.
We understand the importance of receiving the highest rent possible, so we will do everything in our power to make that happen.
Yes, we require a $250 reserve to be held in our broker trust account for repairs.
Maintenance and Repairs
Our management agreement allows us to make any repair up to $300. Any amount over $300 requires an owner’s approval to initiate the work. When owner authorization is needed Patrize Properties will provide you with the estimate(s) and our recommendation for the repair.
Inspections are completed at move-in with the tenant is present, two weeks before the tenant vacates to determine what repairs are needed, and again when the tenant is fully out.
Additional inspections are completed when a work order is being performed to ensure the damage requiring repair was not caused by the tenant.
Yes, if the property is vacant and the repairs are completed within 3 days. Once occupied, we highly recommend using our vendors to ensure the work is completed within 24-48 hours and because we recommend owners not introduce themselves to their tenants as this can create confusion.
We screen all prospective tenants with credit and criminal history checks, employment verifications, rental bureau check and both past and present landlord verifications. After we complete our in-depth screening process we then allow you, the owner, to make the final decision about who to accept as a tenant.
Locating a new tenant usually takes 3 weeks or less depending on a few factors: the location, time of year, and the price. Two weeks is our “sweet spot” to find a tenant so if we have little to no activity within that period it usually means the price is too high.
We begin showing the property as soon as the tenants submit a 30-day notice to vacate to limit the vacancy time in between tenants.
Tenant & Leases
Yes, however we can only provide you limited details in order to protect you from violating fair housing laws. California has strict guidelines that can easily be broken without even knowing it.