1. What services does Woodminster Property Management provide?
A combination of services that will relieve you of the stresses and time commitments associated with managing residential property.
The services we provide are and all inclusive package that includes- advertising, individual showings and open houses, detailed application process, background AND screening of tenant applicants, documenting the condition of your property, collection of rents, direct deposit of your rental income, coordination of basic repairs, after hours or emergency service, repair of tenant damage or basic repairs associated with normal wear and tear.
2. What do you charge?
Our fee is a percentage of the gross monthly rent. When a property is vacant we charge the highest percentage during the first month of tenancy. Every month thereafter there is a small fee that is deducted from the rent paid. If a property is occupied when we take over management we charge a slightly higher fee the first three months to cover the costs associated with the change in management then we lower the rate to the small monthly fee.
Regarding the actual amount charged, this is dependent on the amount of rent we may charge and the condition or age of your home, condominium, or multi unit property. Our fee cannot be determined until we do an on-site visual inspection of your property.
3. Are there any upfront fees charged for your services?
4. Are there ever any fees in addition to the “small fee deducted from rent paid”?
Yes. There are hourly fees charged for evictions, coordinating remodels, coordinating capital improvements, for fire or water restoration and other services outside of normal day to day management responsibilities.
5. What types of properties do you manage?
We manage single family homes, condominiums, duplexes, triplexes, and multi unit properties to 15 units.
6. How many units does Woodminster currently manage?
We currently manage 103 units consisting of single family homes, condominiums and multi unit buildings as large as 10 units.
7. What areas do you cover?
Our offices are in Oakland but we manage property in Richmond, Martinez, Concord, Oakland, Dublin, Hayward, San Leandro, Berkeley, and Oakland
8. Are there ever any mandatory expenses in order to prepare a property for the rental market
Yes. The water heater, smoke detectors, door knobs/lock, and security bars if any must be in compliance with local, state, and federal law. Also, all furnaces must have a recent inspection or maintenance by a licensed furnace contractor. Any other maintenance issues that can identified during a visual inspection like windows that do not operate or lock or electrical outlets that are missing covers or are simply non operational must be re-mediated.
Regarding locks, no locks may be “double” dead bolt and all locks must be fully functional. Depending on the age and condition of your property other repairs may be necessary.
9. What does the tenant application process consist of?
- The completion of Woodminster’ s rental application and providing all necessary supporting documentation
- Verification of employment and income
- Verification of credit worthiness. This includes the use of the National Tenant Networks Scoring System
- Verification of current rental history
- Verification of the tenants meeting or exceeding a set of rental standards
10. When do tenants pay their rent?
Rent is due on the first and there is a five day grace period. If a local rent control ordinance is in place the grace period may be longer.
11. When do owners receive their payment?
Owners receive their deposit on or before the 15th. If an owner prefers that we issue and mail a paper check the check will be mailed on or before the 15th.
12. If a tenant pays late will a deposit still be made by the 15th?
It depends. If the tenant is late you should expect that payment to you will be after the 15th. If payment from the tenant is received after the 15th we will make your deposit as soon as possible.
13. If a tenant does not pay will a payment of any kind still be made to the owner?
No. Woodminster will not provide payment on any expected rents or rental income. Payment will only be made on rents received.
14. What happens when a tenant vacates?
We do a walk through inspection and if necessary we make deductions for any tenant damages, cleaning deficiencies, or any other outstanding issues *any and all deductions from a tenants deposit are strictly regulated by the state of California. Once the tenant vacates and the unit is ready the process starts over again.
15. What is the duration of the Property management Agreement between Woodminster and the property owner?
The agreement is for 1 year. However, the agreement renews every year on its anniversary for an additional 1 year term. If you wish to cancel the agreement you must do so 30 days or more prior to a renewal period.
16. May an owner cancel the property management agreement at any other time?
Yes. However there will be a cancellation fee. This fee will be equal to one month of rent as listed on the lease/rental agreement with your current tenant. If the unit is vacant it will be based on the last residential lease or rental agreement and if the property was never occupied the amount will be equal to the lowest rental rate agreed to by and between owner and management.
17. What happens when an owner wants to move in or sell a rental unit and the owner needs the tenant to vacate?
Typically 30 day notice must be given to a tenant that has lived at the property for less than a year and 60 day notice must be given to a tenant that has lived at the property in excess of a year. However, if a lease is in effect notice to vacate cannot go into effect until 30 or 60 days prior to the expiration of the lease agreement.
Of course the preceding examples are for illustrative purposes only and any notice to vacate is dependent on federal, state, and local law or ordinances including but not limited to any rent control ordinance.
18. Will Woodminster find a tenant and let the owner take over as management?
No. We only provide full service management
19. What happens if Woodminster has trouble finding a tenant for my property
Woodminster documents all advertising and tracks all phone calls and showings with potential tenants. Typically if we are not receiving any phone calls or if we are receiving phone calls and showing the property but no one is turning in an application the rent will need to be lowered. Sometimes an incentive like “free first month’s rent” or “rent for 12 months and the 13th is free” may be necessary.
20. When it comes to landlord tenant issues is there a reference that Woodminster generally defers to?
In California the number one resource is the Landlord Tenant book published by the California’s Governor’s office. For rent controlled cities we also defer to the rent control ordinance and any publications.