Professional management of your investment property, or properties, can make the difference between a lucrative investment or not. Rental property doesn't just run itself. With informative accounting services, proper leasing and tenant screening, knowledgeable property protection, and systematic maintenance, RAM Enterprises can help you realize the financial rewards of owning investment properties. We are experts in the field of rental property management. We give each client and each property the individual attention and care you are looking for.
Listed are a few of our many professional services:
- Rigorous and Thorough Tenant Screening
- Detailed Record Keeping
- Property Inspections to Ensure Proper Maintenance
- Versed in Current State laws
- Extensive Marketing and Advertising
Take Advantage of the benefits and advantages of having RAM Enterprises manage your property.
RAM Enterprises operates as a licensed real estate brokerage specializing as full-service property managers. Our operation is handled by professionals who are regulated by State and Federal laws, as well as regulatory guidelines provided to us by the Arizona Department of Real Estate.
RAM Enterprises is first and foremost a service company. The staffs primary focus is to provide our professional skills to our owners, and subsequently their customers with a spirit of helpfulness. We help owners maximize their properly investments.
As property managers, our focus is to educate. As a business entity, our purpose is to provide excellent service to you and our community.
Services and Benefits
We offer our owners premium property management services. We have specialized in the property management business since 1979. We are the solution for the single to multi-family property owners or investors who have neither the time nor the desire to become involved in the complexities of property management. Laws are constantly changing, and it's our responsibility to keep up with all current regulations.
MARKETING AND ADVERTISING
We have a very aggressive marketing program to get your property exposed to greatest population possible. We advertise your vacant property (or upcoming vacancy) in the local news media and on multiple mediums on the World Wide Web including our company website www.ram-enterprises.com, which is the most comprehensive and user friendly property management website in the tri-city area.
We also share our current vacancy lists with other real estate agents and many business owners in the Prescott tri-city area. By accessing these resources, your property gets promoted by a greater team of advocates.
Our up-to-date rent lists, property information, photos, maps, and community information, accompanied with a friendly and service oriented staff ensure that every effort is made to rent your property.
We pride ourselves on our thorough record keeping. Our computer system allows us to provide services that would be difficult, if not impossible, with a conventional manual accounting system.
We record and explain every transaction affecting your account balance in detail. If we manage more than one property for you, we transfer funds between your properties with out intermixing accounting transactions from different properties.
Each property always has its own complete and separate account record.
Each month we send out your proceeds from the rent through Electronic Deposits directly to your bank account. This procedure is easy and convenient, and the funds will appear in your bank account the next banking day. To accompany your Electronic Deposit you will receive and E-statement with access from your e-mail. You will have the capability to access these E-statements at your convenience from anywhere.
Copies of all work orders and receipts are kept on file throughout the year. Our office retains the original receipts, however copies are sent with you monthly e-statement.
In addition to the monthly statements, we also provide a complete year-end cash flow statement. This shows each accounting transaction posted to your property as well as a summary of all transactions by specific accounting code (total rent received, total plumbing expense, and so forth). These statements have been specifically designed to simplify the year-end tax preparation for you or your accountant. We urge you to keep your reports as we send them throughout the year. It is complicated and time-consuming to regenerate past reports, and therefore, we charge a $30.00 fee for any duplicated reports.
As required by Internal Revenue Service regulation, we prepare and submit a 1099 for showing the total gross rent income that we collected on your behalf during the year. A copy of this form will be attached to your year-end-cashflow statements. If you are a corporation, we do not need to send a 1099 to the state or Internal Revenue Service. A W-9 form has a place that you mark to designate if you are a corporation and the Employee Identification Number.
All of our rents are due on the 1st of each month and are considered late after that time. A late fee will be assessed if rent is not in our office at the close of business on the 5th of the month. Late notices are sent initially and eviction proceedings usually are filed around the 18th if the resident has not arranged for rent payment. Our office retains late fees and penalties to offset the added administrative expenses. Late fees and penalties will show up on your statement only as a matter of record.
A one-time $150.00 management fee is charged for all new properties. This covers our costs for property survey, data entry into accounting, and property databases, coding keys, taking photos and overall preparation for marketing your property on our website, other internet mediums and our rentlist and property books. Our monthly management fee is 10% for one single family unit. However, monthly management fees for owners with a multi-unit dwelling or multiple single family units will be lower. Management fees are payable when the rent payment is received. It is automatically deducted from your account at the time the rent payment is posted. However, since one of our jobs is keeping your property occupied, we do not charge a management fee if your property is vacant.
There is a $125.00 advertising fee (fee varies for multiple units).
LEASING ONLY SERVICES
If you prefer to manage your own property, but need some assistance with the screening process, procuring a qualified tenant, we would be happy to can help you and leave the day-to-day management to you.
We want to select the best qualified tenants for you; therefore, we use a service to secure a thorough credit check, at no cost to you, before each lease is signed This includes checking credit history, public records for bankruptcies, judgements, liens, past rental history, criminal history, and verifying employment.
Vacancies are expensive for both of us. We make every effort to keep our vacancies to a minimum. When a tenant gives us notice to vacate, we begin the marketing process immediately. The file is pulled, data reviewed, rent amounts evaluated and is placed on the rentlist.
Our office is licensed to provide professional leasing assistance. Our lockbox system allows a maximum number of showings for each property. This allows the quad-city community to assist us and we pay a referral fee (at no cost to you) for assisting us in procuring a qualified tenant.
Our computer system allows us carefully to monitor our lease expiration dates. It gives us the opportunity to renegotiate the rent on a renewal lease. Approximately 45 days before a tenant's lease agreement is due to expire, we send them a lease renewal notice. This notice explains our lease renewal procedures. If they plan to vacate at the expiration of the lease, they are still required to give us a written 30- day notice. This prevents unexpected vacancies and avoids a needless loss of rent revenue for you, the owner, and providing the necessary time needed to prepare the unit for the next tenant, advertised and show your property.
Should the tenant have a situation by which the lease needs to be broken, they are aware that they are financially responsible until the property is re-rented They will be charged up to $250.00 for a broken lease penalty so the cost of re-leasing is not charged to the owner.
If the tenant chooses to vacate, the property must pass a thorough check-out inspection before they are released from their financial responsibility and their security deposit is returned This reduces the preparation and turnaround time before the property is re-rented The inspection will not be made until the tenant has removed all furnishings and other personal belongings and turned over the keys.
The amount of the security deposit is equal to the monthly rental rate. Applicants with pets are required to pay an additional "pet deposit" amount. The total cannot be more than 1-1/2 times the monthly rental rate, per Arizona law.
All security deposits are kept in a trust account as required by state real estate regulations. These deposits are either refunded to the tenant upon the successful check-out inspection of the properly or are forfeited to cover damages caused by lease violations.
Our main job is to protect your investment property. We do this by making drive-by inspections of various properties we manage through out the month. Exterior inspections are very important. A property that is well maintained on the outside is normally being taken care of on the inside as well. Also, we have set walkthroughs of each property twice a year.
Our regular walkthroughs with the existing tenants give us the opportunity to evaluate the tenants' care of the property. If the tenant has not shown good faith in making the requested maintenance and repairs, we will begin proceedings to correct the problems at the tenants' expense or give notice to vacate.
Walkthroughs are scheduled twice a year, whether occupied or vacant. These walkthroughs allow us to inspect the property for preventative maintenance issues as well as to check up on our tenants. There is a $25.00 charge a year for these walkthrough (plus cost of supplies, batteries/ new smoke alarms).
MAINTENANCE AND REPAIR SERVICES
Timely, competent maintenance is the key to protecting your investments. Our goal is to provide you with high quality and efficient maintenance, using qualified technicians from around the tri-city area. All vendors are required to provide us with insurance and Workmen's Compensation information. Vendors have been selected because of their ability to provide the best possible service at the most reasonable rates.
Our maintenance responsibilities are defined in detail in the Property Management Agreement. You may elect to reserve the right to do your own maintenance or request us to use a vendor you select. If any invoices are paid from your account from our office, the vendor must provide us with the documentation we require as previously explained. In the event of an audit from State Fund, the owner will be required to pay for Workmen's Compensation by vendors who do not carry their own policy.
We require a minimum balance of $200.00, per property, to be kept in your account to cover expenses incurred between time proceeds have been sent to you and rent is received for the following month. However, health and safety repairs will be taken care of immediately to comply with Arizona law regarding the tenant's health, safety and welfare. Tenants are given guidelines upon moving in that gives them steps to call for emergencies. Our voice mail is retrieved after hours, weekends and holidays as well to call out vendors to do emergency maintenance.
Before any repairs or maintenance is done, the job request is reviewed. It is assigned and a work order completed, only after the request has been approved by the maintenance coordinator or property manager. A vendor will not do unauthorized jobs requested by a tenant. In addition, a request for maintenance work that is the tenant's responsibility or for repairs caused by the tenant's negligence will be charged to the tenant.
Our Technology Advantage
We invest in advanced technology systems so we can provide you with the best service and manage your properties efficiently and effectively. We have chosen property management and accounting software called AppFolio Property Manager. Some of the benefits that we are able to pass on to you:
- We can respond faster and provide better service to both owners and tenants.
We can securely access information about all properties at any time and from anywhere. Sensitive data is securely housed in a state-of-art data center, and backed up regularly and automatically.
- Monthly statements can be delivered to your email inbox, saving time and paper.
The statements are easy to read and provide you with a quick snapshot of your property details for the past month.
- We address property maintenance issues faster.
We can create electronic work orders and communicate with vendors so we quickly solve issues.
- You will be paid faster and more securely.
We are able to use electronic payments (ACH) to deposit funds directly into your bank account.
- We can more effectively market your properties to fill vacancies sooner.
We can quickly and professionally advertise your properties on our Web site, Craigslist, and other Web sites.
Owner Statements Available Online
Did you know that you can now access your owner statements online?
- Concise statements covering the performance of your property for the previous month
- All data on your property is stored in a state-of-the-art data center
- Access information about your property 24/7
- Access information about your property from anywhere with an internet connection
How it works:
In order to keep your financials secure, we use a state of the art portal system which communicates with your email.
Each time you wish to view your reports, you must visit the portal and enter in your email address. You will be emailed a single-use link where you can view your statements. This link does not have a time limit, however, it will only work once.