Guardian Property Management LLC

" We'll care for your property as if it were our own."

 

Professional Management and You

This section is designed to answer some basic questions property owners have about property management. It isnít possible to give a complete explanation on this web page of why you should be using a professional. However, some of the main reasons include:

                                                                        Click on a topic
                                                                       
to see more information.


 



3D Question Mark   Why You Need a Professional Manager

More income, more free time for you
You will likely make more money using a professional property manager, than you will pay out in management fees. Not only will you be making more money, but you could use the time you have freed up for something else!!  Hiring a professional doesnít cost you money - it saves you money!  (See the section below that tells you what your time is worth.)  We have our own carpet-cleaning equipment, as well as wholesale accounts at carpet mills, heating, ventilating, air-conditioning and appliance parts distributors.  This can mean significant cost-savings on repairs and refurbishment.

Maximize the advantages of your most valuable asset
People hire professionals to help manage many aspects of their lives. Doctors, dentists, stockbrokers, engineers, mechanics, attorneys - help all of us manage our lives with maximum expertise. Now, obviously we arenít talking about your life, or expensive health-care services. But we are talking about something that is very valuable. If you think about all of the tangible assets you own, your property is likely the most valuable. Doesnít it make sense to hire a professional to manage your most valuable tangible asset, someone who is more likely to help you accomplish your goals with your investment?

Maximum expertise available 24/7
Many people either manage their rentals themselves, hire a tenant as an "on-site" manager, or simply get a close relative to do it. These persons can only care for the property in their "spare time." A professional manager is able to devote the entire resources of their organization to the care of your property full-time. A professional has the expertise to screen prospective tenants thoroughly, and handle tenant relations.  A professional has the tools and experience necessary to complete repairs or essential maintenance correctly.

Tenants fully expect the appliances and systems in the property to function. When they donít, tenants also expect repairs to be completed promptly and correctly. At Guardian Property Management, we are available 24-hours a day, 7-days a week to accommodate the needs of property owners, and their tenants. We are dedicated to keeping your investment in good repair with minimal cost. Our in-house maintenance and repair personnel are experienced and skilled. In addition, we maintain strong relationships with numerous cleaning, repair and maintenance contractors, who provide their expertise when necessary to keep your property in first-class condition. All vacancies are promptly made ready to re-rent. Personal attention has always been our goal.

Property Managers are regulated by the State of Utah
The Division of Real Estate, which operates within the Utah Department of Commerce, has numerous regulations governing property management. Regulation 162-5 (in summary) states, "All persons who engage in management of property for another, must hold a current real estate license." There are some exceptions to this regulation, but basically, if youíre not the owner, or a regular salaried employee of the owner, you need to have an active real estate license to manage property for someone else.


Demon from Hell    Avoiding undesirable tenants

Normally, we dislike companies that use scare-tactics, and worst-case scenarios to frighten their potential customers into using their product or service. It is an unfortunate fact however, that our society contains a certain percentage of people whose ethics and morals are, shall we say, degenerate or non-existent. Prostitutes, drug dealers and drug users, gang members, persons with a criminal record, or who have been evicted in the past, or who have unpaid judgments (some from previous landlords) on their credit record; these are the kinds of people and problems you absolutely do not want to bring to your property.

Now of course, you say you would never rent to a prostitute, or gang family, or a person who has an eviction in their past. However, these people are NOT living on the streets. Where ARE they living? In an apartment somewhere!  How did they get into an apartment?  Obviously, whoever screened their application did not do a thorough job.  Many landlords and managers feel that applicant screening is just too much trouble.  If you rent to one of these kinds of people however, the trouble, expense, and aggravation will be multiplied exponentially to rid yourself of these problems.

Telephone & Fax Machine   Tenant/Applicant Screening

At Guardian Property Management LLC, applicant screening is one of the most important jobs we do. We consistently follow a list of procedures to carefully scrutinize rental applications, prior to renting a vacancy. These procedures will generally eliminate the large majority of potential problems and nuisance tenants, BEFORE they occupy your property.  We verify income, employment and rental histories, obtain a credit report, and conduct a criminal records check, in addition to talking with personal references supplied by the applicants.  It is our commitment to our clients to do our best to find good, qualified tenants for their properties.

Why is it so important to rent to good tenants?  With good tenants in your property, there are less expenses, greater income, and more peace of mind for you the owner.  In the long-run, this translates into lower rents for tenants, and with lower rents, your property is much easier to re-rent when you have a vacancy.

What do we mean by less expenses and hassles, and greater income? In the long-run, good tenants:
Stay longer - Lower turnover means less vacancies and associated costs
Pay their rent on time - Less time expended chasing tenants to pay their rent, less legal expenses, less evictions
Care for the property - Less maintenance and repair costs
Are not nuisances to their neighbors - Less time communicating with tenants about problems, less nuisance evictions
Give proper notice when moving out - Vacancies can be re-rented more quickly
Leave the property in good condition when they move - Less refurbishment and cleaning expense
Adhere to the terms of the Rental Agreement - Less time dealing with rental violations, less nuisance evictions

It is also very important to avoid discrimination when selecting tenants. Guardian Property Management LLC is an equal-opportunity housing provider. We conduct business in strict compliance with the 1968 Civil Rights Act, Title VIII, and the 1988 Amendment to the Federal Fair Housing Act.

   Rental Agreements

After choosing a qualified tenant, we use the appropriate rental agreements and other documents to protect the interests of both the tenant and the property owner.  A rental agreement is a legally binding contract.

Agency Disclosure informs the new tenant that the Manager is the representative of the Owner. There exists a contractual agency relationship between the owner and the manager, and the manager is obligated to act in the best interests of the property owner.

Uniform Residential Rental Agreement contains all of the basic terms of the agreement, such as rental amount, late fees, restriction on pets, subletting, etc.

Inventory & Inspection List is a written statement that both the tenant and the Manager sign, prior to the tenant moving in, which lists the condition of the property in great detail. When the tenant moves out, the condition of the property is checked against this list to determine if the tenant should be charged for anything over and above normal wear and tear. It is designed to protect both the owner and the tenant.

House Rules contain additional terms of the rental agreement specifically about things tenants may, and may not do with the property.

Crime-Free Housing Addendum is designed to allow the expedited eviction of tenants who are engaged in criminal activity.

Lead-Based Paint Disclosure is required to be given to tenants who are renting properties built before 1978, which may or may not contain lead-based paint. We give new tenants this pamphlet and have them sign an acknowledgement that they have received the information, which we keep in our files should the EPA ever conduct an audit of our records.

Welcome Letter provides the tenants with basic information about how to sign up for utilities, pay their rent, who to contact in case of emergencies, or if they need to request repairs, etc.

Moverís Guide compiled by the US Postal Service is also provided to new tenants, to help smooth the transition to their new address.

Photo identification of each adult tenant is checked against the information on their application, and then scanned into our computer and kept in our files for security purposes.

Tenant Relations   Tenant Relations

We take a unique perspective on tenant relations. Many tenants are only accustomed to adversarial relationships with previous landlords. It shouldnít be "us" versus "them". Tenants are our best customers!  Without tenants, where would property owners be? Without tenants, property owners would be unable to accomplish any of their objectives with their property. Our desire is to be emotionally generous with our residents, and smile when they call!



Reporting to Property Owners   Monthly And Annual Reports

So, how do we keep you informed about what is happening with your property?

Each month, you will receive a detailed report on the income and expenses for the month, as well as a Cumulative Report, which is a year-to-date summary of all the income and expenses to date.

You will also receive an Activity Log Report, which shows all of the repairs, maintenance and tenant contact that has occurred during the previous month, so you will stay informed about everything that is going on with your property.

Lastly, at the end of the year, you will receive an Annual Summary, that shows the income and expenses for the entire year, broken down into months, with an annual total at the end. This Summary is designed so that you can simply take the expense and income figures from this sheet and plug them directly into an IRS Tax Form to report your rental profit.




Clock & 3D Dollar Sign   What is your time worth?


If you manage your property yourself, how many hours a month (average) do you spend taking care of it?  Bookkeeping, showing vacancies, communicating with tenants, etc., all take your valuable time.

Check the chart below to see what your time is worth on an hourly basis. For example, if your annual income from your regular job is $50,000, your time is worth $24.04 per hour. This calculation is based on a 40-hour work-week, for 52 weeks per year.

If you're doing something that you could pay someone else to do for less money than what your own time is worth, doesnít it make sense to hire someone else to do it? You could spend your time doing something more profitable (or more fun!). Let someone else do the work, and save money at the same time!! (Thatís a no-brainer.) So ask yourself, how much time do you spend caring for your rental property?

ANNUAL

PER

ANNUAL

PER

ANNUAL

PER

INCOME

HOUR

INCOME

HOUR

INCOME

HOUR

$20,000.00

$9.62

$60,000.00

$28.85

$100,000.00

$48.08

$22,500.00

$10.82

$62,500.00

$30.05

$102,500.00

$49.28

$25,000.00

$12.02

$65,000.00

$31.25

$105,000.00

$50.48

$27,500.00

$13.22

$67,500.00

$32.45

$107,500.00

$51.68

$30,000.00

$14.42

$70,000.00

$33.65

$110,000.00

$52.88

$32,500.00

$15.63

$72,500.00

$34.86

$112,500.00

$54.09

$35,000.00

$16.83

$75,000.00

$36.06

$115,000.00

$55.29

$37,500.00

$18.03

$77,500.00

$37.26

$117,500.00

$56.49

$40,000.00

$19.23

$80,000.00

$38.46

$120,000.00

$57.69

$42,500.00

$20.43

$82,500.00

$39.66

$122,500.00

$58.89

$45,000.00

$21.63

$85,000.00

$40.87

$125,000.00

$60.10

$47,500.00

$22.84

$87,500.00

$42.07

$127,500.00

$61.30

$50,000.00

$24.04

$90,000.00

$43.27

$130,000.00

$62.50

$52,500.00

$25.24

$92,500.00

$44.47

$132,500.00

$63.70

$55,000.00

$26.44

$95,000.00

$45.67

$135,000.00

$64.90

$57,500.00

$27.64

$97,500.00

$46.88

$137,500.00

$66.11

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