Property Management
MHD Management Services, Inc. is a premier Property Management Company serving the mid Missouri area. We manage commercial properties or residential homes, apartments, and condos. Collect rent, pay bills, disburse funds, and maintain the property to protect your investment.
Assist owner by evaluating property and determine an accurate rental rate for highest rate of return by:
- Performing evaluation of interior and exterior, taking photos for marketing and advertising
- Offer recommendation on repairs and cosmetic improvements to maximize monthly rent and providing a strong ROI
- Provide data on rental rates in the area and comparable properties to determine optimal rental rate
Market and Advertise Property:
- Prepare the home for rental by cleaning and optimizing interior appeal
- Manicure landscaping to increase curb appeal
- Create ads tailored to the property and advertising medium
- Field calls from prospects for questions and viewing
- Provide tenants with rental applications, perform background checks
Tenant Screening and Selection:
- Perform background check to verify identity, income, credit history, rental history, etc.
- Provide feedback as to decision based on evaluation
Tenant move in responsibilities:
- Complete lease agreement
- Review all pertinent lease agreement and expectations, rent due dates, property maintenance, and inspection routines, how to handle correspondence to Management Company, etc.
- Perform detailed move in inspection with tenant and have tenants sign a report verifying condition of property prior to move-in
- Collect first months rent and security deposit
Rent Collection and Disbursing:
- Collect rent payments, handle late payments/fees
- Disburse funds to owner
- Pay taxes and insurance as applicable
Property Inspections:
- Perform periodic inspections inside and outside on a predefined schedule
- Notify tenant of repair needs, safety hazards, code violations, lease violations, etc.
- Send owner periodic reports on the findings of inspection
Financial Reporting:
- Make payments as directed by owner for mortgage, insurance, HOA, taxes, etc.
- Detailed documentation of expenses via invoices and receipts and maintain historical records
- Provide easy to read cash-flow statements with revenue and itemized expenses
Maintenance and Repairs (all subject to a written agreement between manager and owner):
- Oversee any in-house maintenance
- Provide a network of licensed, bonded and fully insured contractors who have been vetted
- Leaf and snow removal, landscaping, removing trash and debris
- Maintain and monitor 24 hour repair hot-line
Tenant move out:
- Inspect unit and fill out a report on property’s condition
- Provide tenant report of findings and cost to repair
- Return as applicable the security deposit
- Clean unit and perform needed repairs or contract out
- Re-key locks as required
- Put property back on market for rent
News
Credit Scores Might Soon Reflect Rent Payments
by MHDMS on July 1, 2014
Anybody buying a first home quickly learns how important credit scores are to mortgage lenders.
But if you’ve been renting for years and have a stellar record of monthly payments to your landlord, you typically run into a sobering reality when you shop for a mortgage: All your on-time payments show up nowhere in your credit- bureau files and don’t contribute to your scores.
Ditto for other routine credit payments -- cellphone, cable TV, utilities. You might have perfect payment histories for all of these, but nobody knows about them. Why? Because the landlord [...]
More Homeowners Becoming Landlords
by MHDMS on June 24, 2014
It’s been a busy spring in Central Missouri! It’s nice to see some signs of life in the real estate market.
From money.cnn.com: Low mortgage rates and soaring rents have convinced a growing number of homeowners to hang onto their former homes and become landlords instead.
“Clients tell us all the time, ‘We’re never going to sell our home, even after we buy a new one,'” said Glenn Kelman, CEO of the brokerage, Redfin. [...]