I am looking for a property management company and want to know more about Alabama Rental Managers.
Alabama Rental Managers is a full service residential property management company serving the greater Birmingham and Tuscaloosa areas. Established in 2006, we serve a growing need for a professional property management company that specializes in residential single family homes, townhomes, and condominiums. We accept homes on a case-by-case basis, and have homes with rent ranging from $800 to over $3500 per month.
Why should I choose Alabama Rental Managers over another property management company?
There are several reasons for choosing Alabama Rental Managers. We have no up-front cost to initiate service; if we don’t lease your home, you don’t pay. Due to our extensive marketing and advertising, we lease homes quickly. We have Licensed Realtors that show our homes; prospects are accompanied 100% of the time. We have no separate advertising fee. We grew from 5 properties under management in August 2006, to over 700 homes under management in August 2014. The majority of our business comes from referrals or repeat business.
What are the advantages to renting out my home?
Many people are considering renting their home as opposed to selling it, based on an expected financial benefit. We do our best to get the financial benefit that you desire, by striving to maximize and sustain the rental amount and manage your investment so that it continues to make money for you for years to come. Renting out your house turns it into an investment property. This entitles you to deduct operating expenses, maintenance and repairs, and to depreciate the property. Your tax accountant can help you with changing tax laws and all tax related issues.
Why should I hire a professional management company? I might be able to manage things myself?
Being an absentee landlord is difficult unless you have someone to administer the property. Do you have the time to conduct market comparables to price your home in the current market so that it rents quickly? Can you take the time to show your property to potential renters? Do you have the means to screen them by verifying rental history, income verification, a credit check and a criminal background check? Will you be able to manage the property from afar? What happens if a pipe breaks and you’re out of state? Alabama Rental Managers will look after everything related to the property – from advertising your property and screening your tenants to executing the lease agreement, collecting rent, monthly account reconciliation, coordinating maintenance needed on the property, and conducting inspections. Based on the number of clients that we have who began self-managing, and then hired us after a bad experience, it is worth the 10% to hire Alabama Rental Managers.
What services do you provide?
We provide a full range of services to property owners including residential leasing, management, accounting, inspections, and tenant management.
We charge one month’s rent for
finding a new tenant.
- Market research to provide comparable rental home prices to determine fair market rent
- Professional advice to prepare the property for maximum results in marketing including staging and renovation recommendation
- Broad market advertising with internet syndication to multiple websites
- Licensed Realtors showing your home to prospective tenants
- Universal lock box to maximize showing opportunities
- Photography of interior and exterior premises
- Professional signage to attract drive by prospects
- Tenant screening, including credit check, criminal background check, income verification, and rental history
- Professional leases provided
- Negotiate lease term with new tenant
- Perform property inspection before a tenant moves in
- Collect upfront fees and deposits associated with each property
- Coordinate move in with new tenant
We charge 10% of the monthly income collected for managing your property.
- Create Owner account specific to their property
- Execute lease agreement with new tenant(s)
- Collect monthly income for each property
- Utilization of an escrow account to process and retain security deposits
- Process contracts, including the management agreement, lease and lease renewals, termination and evictions if necessary.
- Insure compliance with Alabama landlord/tenant laws
- Insure compliance with federal/state fair housing laws
- Perform move in and move out inspections, periodic inspections upon request
- Coordination of maintenance services within predefined authorized limits set by each owner.
- Coordination of utility services between occupancies
- Monthly accounting statements emailed and available through owner portal
- Direct Deposit to owner bank account
- Year-end accounting statement for ease of tax preparation
- Filing of form 1099 with the IRS
Will I have one contact within Alabama Rental Managers?
Alabama Rental Managers has specific departments staffed with professionals to assist you when you have questions. We have a maintenance call center, leasing team, quality assurance team, and an accounting team. When you have questions, you will be able to speak to someone who specializes in your question, a real benefit to property owners. You will not have to speak to the leasing team about your finances, nor will you have to speak to accounting about your maintenance.
What type properties do you manage?
We specialize in residential single family homes, townhomes, and condominiums. We will accept homes on a case-by-case basis. We manage many homes with rent exceeding $3,500 per month and have a great deal of experience marketing homes priced in rent ranging from $800-$3500. Minimum monthly rent for new properties is $800.
Does my home have to be empty to begin the process?
We will list a home while occupied; however we do require a move out inspection prior to the new tenant’s move in. We will list an owner-occupied home, a tenant-occupied home with a lease, or a vacant home.
How much money should I have set aside for expenses?
We recommend three to six months of expenses depending on your risk tolerance.
Do you have location restrictions?
We provide management to homes within 60 miles of our office. We are located in Birmingham on Valleydale Road. Our homes are located in the following counties: Jefferson, Tuscaloosa, Shelby, St. Clair, and others on a case-by-case basis.
How do I get started?
To get started, Alabama Rental Managers will need the signed Management Agreement, Listing Checklist (a simple checklist of amenities and special instructions specific to each property), a form W9 and a completed ACH form with a voided check. All utilities will need to remain on through the first day of the lease, and the home needs to be professionally cleaned, including the carpets.The paint needs to be in good condition and the grass needs to be cut. The better a home looks, the better it shows.
Who chooses the rental price for my home?
You do! One of our agents will go by your home and make an assessment, but ultimately the decision is up to you. Certain factors play into pricing a rental property including location, size, and condition of the home.
Interested in listing your property with Alabama Rental Managers? Learn more here.