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OPERATIONS
1. Establishment and implementation of standard operating procedures for
maintenance, repairs, safety, security and insurance.
2. Supervision of on-site staff and contractors.
3. Regular inspection of the investment.
4. Enforcement of Rental Agreements.
5. Careful screening of potential renters.
6. Placement of advertising in regard to rental of units.
7. Tenant relations.
FINANCE
1. Preparation of budgets, monthly reports and statements.
2. Controlling expenditures while maintaining the integrity of the property.
3. Establishment of rental prices.
4. Rent collection.
5. Maximizing the rental stream.
RENTAL EVALUATION
One of the first steps in renting out a property is determining the appropriate rental rate for the property. Initial contact usually begins with a DCCi Dorland representative meeting with the owner at the rental property.
At this time, we can give an estimated rental range for the unit, based on various factors such as size, location, special features of the residence, and local amenities. During this initial meeting, we go over the contract that the owners would sign with DCCi Dorland, highlighting the major parts of the contract, such as length, management fees, and insurance requirements.
TENANT SCREENING & PLACEMENT
For all vacant properties, one of the primary objectives is to put in suitable tenants in a minimum of time. Advertising is placed in a variety of local publications and pros-pective tenants are shown the property by a DCCi Dorland representative.
Tenants are qualified through a three step process: an employment verification, a credit check, and previous tenant history check.
A successful applicant is contacted and required to give a security deposit of up to one month’s rent. A room by room move-in inspection is performed with the tenant prior
to releasing keys.
RENT COLLECTION
Once a tenant has been placed in a property, DCCi Dorland will collect the rent from the tenant. Rents are due on the first of the month.
Tenants who fail to pay at the first of the month receive 14 day notices to vacate or pay in full. DCCi Dorland staff will follow up the 14 day notices with frequent phone calls to obtain any outstanding balance of rent, and have very good success in collecting rents.
MAINTENANCE COORDINATION
All properties require ongoing maintenance, and DCCi Dorland handles both immediate maintenance concerns (i.e. – leaky taps, non functioning appliances, as well as long term items (shingle replacement, carpet & lino replacement, siding & soffits, painting, etc.).
Through its network of contractors, DCCi Dorland is able to get fair value and quality work for the owners it represents. Invoices come directly to DCCi Dorland and are paid from the proceeds of the rent.
Major items are discussed directly with the owners before any decision to proceed with work is made.
FINANCIAL REPORTING
Rental funds (less current expenses) along with clear, concise financial statements are sent to the owners at the end of each month giving the owners a regular picture of what is happening with their properties.
Owners have the option of receiving as much or as little information as they desire each month, enabling an owner to have either a "hands on" or a "hands off" rela-tionship with DCCi Dorland and their property.
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