Asset Protection

Posted by bayside

Windermere Property Management helps protect your asset in ways that most rental owners don’t have time or expertise to handle.  Rental properties require care and attention.  They are much more than just temporary money generators, they are long-term investments that can rise or fall in value depending upon the repairs and maintenance they receive.  We keep you informed AND update you regularly, so you always know what is recommended for the best possible results.

How we help protect and grow your asset

  1. Regular Inspections

    Annual Inspections, inside and out of the property are performed, along with a minimum of a quarterly drive-by.  Our inspections include photographs and checklists automatically saved into the property’s computer file and shared with the property owner.

    • Annual Inspections are performed by a Property Manager, not the maintenance staff.
    • We make owners aware of improvements that may need to be made before renting to the next tenant.
    • We are PROACTIVE rather than REACTIVE regarding improvements.
    • We solicit neighbor input. If neighbors have complained about high traffic, broken rules, noise, litter or smoking, we will investigate the complaints.
    • Our computer program automatically documents text messages to tenants and if there is non-compliance, we follow up with letters. All of our policy actions and procedures are consistent and well-documented.

    Windermere inspection topics

  2. Exemplary Maintenance Team

    Our maintenance crew consists of 6 highly-trained specialized staff, including an electrician, water damage expert and appliance repairman.  Each one has a van and carries replacement parts.

    • If a “work order” for maintenance is requested, we attend to it immediately, schedule it as soon as possible, and during the same visit our team inspects:
      1. General Premises Condition – the maintenance crew is also reporting on housekeeping, garbage, inappropriate external décor, yard condition and more.
      2. Smoke Alarms –  confirming all are operational.
      3. Water Tank – most of our rentals feature a “leak alert alarm” that detects water in the pan. We photograph the tank and the tank’s service records. We require Earthquake straps. We check water temperature to prevent scalding. We recommend tank replacement BEFORE the expiration date of the appliance.
    • Our maintenance team is trained to watch for “red flags” of potential future problems with the rental units, not just the problem at hand.
    • Should our maintenance team be called in for anything repairs, they also automatically fill out a health and safety checklist.
    • Our in-house maintenance is always accessible with 24/7 emergency response.
    • Our repair team is trained in “Tenant Relations,” screened for personality as well as technical skills. They are personable, presentable and have had background checks. Tenants may not call if they don’t trust the maintenance crew, and our crew is trustworthy.
    • Maintenance performs exterior home and apartment winterizing in the Fall and prepares for seasonal changes in the Spring. Tenants are responsible for the furnace filters.
    • Our crew assesses if the problem is tenant-caused or a maintenance issue.  Tenants are responsible monetarily for their own damage. We document and photograph problems for future reference.

  3. Tenant Vetting and Background Checks

    Renting to the appropriate tenant from the beginning goes a long way toward protection of the asset.  Quality tenants who care about your property take better care of it! We go above and beyond to qualify renters and if they cannot pass, we are polite, courteous and compassionate in our response.  Potential customers may return another time, and everyone remembers how they were treated, especially when times are hard.  Here are a few ways we go above and beyond to match the perfect rental to a tenant and the perfect renter for you:

    • We believe that building relationships so that renters are happy goes a long way in preventing vacancies.  It costs much more to find new tenants than it does to keep good ones.  Less turnover, means growth for you.
    • A lower, entry level apartment, like college housing, may require less income than an executive home, but all receive background and credit checks.  A co-signer may be required if a renter lacks a rental history.
    • Prospective renters must pass our requirements.  We are consistent in our policies. We do not discriminate.
    • As markets change it’s important to understand the wants and needs of the market.  We advise you based upon our experience on the appropriate rent to charge to remain competitive and still grow your asset.

  4. Legal Liability

    Making a mistake can be an extremely expensive proposition.  This is where a property manager can be invaluable.  Owners need to know the laws, and usually don’t have the time or resources to keep up on them.  Windermere property managers are updated on the latest legal changes in the tenant/owner market.  We attend regular seminars, and read publications like the WA Landlord periodical, belong to NARPM (The National Association of Residential Property Managers), and utilize “AppFolio,” a highly effective property management software.  All this and more keeps us updated and informed, protecting you and your assets.