It can be time-consuming and stressful to manage your property yourself, especially if you don’t live in or close to your property. This is why it is a good idea to use Exsol Properties to manage all your properties. We turn liabilities into assets and monetize these assets in real-time.
How you manage your property today has a great impact on its value tomorrow. This is a concept that Exsol Properties fully understands, and underpins on how we manage your portfolio. We have a track record when it comes to property management in Ghana.
We have fully and partly managed Adolf Valley Estates, North Atomic Kwabenya; Lajoya Court, Redco Madina; ManetVille Spintex, and many other properties across the country.
We deliver superior returns even when market conditions are rough and we serve both private and commercial property owners.
Exsol Properties commitment to proactive portfolio-based property management through strategic building life-cycle maintenance, utility management, and use of technology is focused entirely on unlocking the true potential and the long-term value of our clients’ properties.
We will do everything we can to ensure that your tenant is satisfied and your property remains in optimum condition.
What We Do For You
Evaluate the property and determine an accurate rental rate
- Perform detailed documentation of interior and exterior including photos
- Offer recommendations on repairs and improvements that maximize monthly rent whiles providing a good return on investment.
- Gather data on rental rates in the area and work with owners to determine the optimal rental rate. Rent research will vary but should include looking at the recently rented comparable according to size and type.
- Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking, etc.
- Install a lockbox
Market the property for rent
- Prepare home for rent
- Clean home and optimize interior appeal
- Manicure landscaping to increase curb appeal
- Create ads tailored to the property and advertising medium. Some of the mediums commonly used are:
- Paid and free rental listing websites
- Print publications
- Work with other realtors and leasing agents to find a tenant
- Field calls from prospects for questions and viewings
- Meet prospective tenants for showings throughout the week and weekend.
- Collection applications with the application fee
Tenant Screening and Selection
- Perform a background check to verify identity, income, credit history, rental history, etc.
- Grade tenant according to pre-defined tenant criteria
- Inform tenants who were turned down
Tenant Move In
- Draw up a leasing agreement
- Confirm move-in date with tenant
- Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance
- Ensure all agreements have been properly executed
- Perform the detailed move-in inspection with tenants and have tenants sign a report verifying the condition of the property prior to move-in.
- Collect rent and security deposit as well as Common Area Maintenance Fees
- Receiving rent
- Hunting down late payments
- Sending out pay or quit notices
- Enforcing late fees
- Filing relevant paperwork to initiate and complete an unlawful detainer action
- Representing owner in court
- Coordinating with law enforcement to remove tenant and tenants possessions from unit
- Advice in the event of a legal dispute or litigation
- Refer the owner to a qualified attorney when necessary
- Understand and abide by the latest local, state legislation that apply to renting and maintaining rental properties.
- Perform periodic inspections (Inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
- Send owner periodic reports on the condition of the property
- Provide accounting property management services
- Make payments on behalf of the owner (Mortgage, insurance, etc.)
- Detailed documentation of expenses via invoices and receipts
- Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
- Provide annual reporting, structured for tax purposes as well as required tax documents
- Advise owner on relevant tax deductions related to their rental property
- Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses
Maintenance, Repairs, and Remodeling
- Provide and oversee an in-house maintenance crew
- Establish a preventative maintenance policy to identify and deal with repair needs
- Provide a network of licensed, bonded, and fully insured contractors who have been vetted for good pricing and good work that is up to code.
- Assign jobs to different parties (in-house employees, handyman and professional contractors) based on who will do the best job for the best price.
- Maintain outdoor areas
- Leaf and snow removal
- Removing trash and debris
- Maintain and monitor a 24 hour emergency repair hot-line
- Larger renovation or rehab projects
- Provide recommendations on how the project can maximize rental income.
- Prepare preliminary cost estimates
- Act as general contractor overseeing the work
Tenant Move Out
- Inspect unit and fill out a report on the property’s condition when the client moves out
- Provide tenant with a copy as well as estimated damages
- Return the balance of the security deposit to the tenant
- Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in owner reserves for repairs.
- Clean unit and perform the needed repairs or upgrades
- Re-key the locks
- Put the property back on the market for rent