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M. Scott Properties Property Management
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Rental Property Management Program The property management program was started by Marleane Scott 1995 to provide her investment property clients professional and personalized property management services. We have grown to be respected by many other Real Estate Firms in the Carson Valley, providing their clients with our same services. Kelly Jo Robertson, Property Manager, is a licensed Nevada Real Estate Sales Person. Raised in San Diego, CA, she moved to Douglas County in 1993. After working in the Title & Escrow business she became interested in Real Estate and has been working for M. Scott Properties since January 1998. Marleane Scott, Owner/Broker and founder of M. Scott Properties, Inc. is a licensed Nevada Real Estate Broker and a member of the National Association of Realtors. Raised in Huntington Park, CA she moved to Nevada in 1981 and worked with special education students in Gardnerville Elementary School. She became involved in Real Estate in 1987 working as a sales agent. In 1997 Marleane and Lori opened their own real Estate Office. CONTRACT Our management agreements are for a period of one year or unless either party elects to terminate the agreement with a 60-day written notice. RENT SCHEDULES The property manager and the owner determine the monthly rental rates. The property manager advises the property owner of rates for similar properties and current rental market conditions. The property manager also consults with the property owner regarding rental rate increases, which require a 45-day written notice to the tenant. ADVERTISING Our advertising runs once a week in the Record Courier, the local newspaper. "For Rent" signs are placed on rental properties unless the owner feels there is a security problem. We also advertise with National Best Sellers, a firm out of Carson City that compiles a rental list of all properties available in Carson City and Carson Valley. This list is sent to all real estate offices in Carson City and Carson Valley that request them. An updated listing of our properties available for rent is at our office at all times and is provided free to all inquiries. TENANT APPLICATIONS Prospective tenants are required to fill out a detailed application form, and sign a copy of our application policies. The property manager verifies current employment, or income. We contact present and/or previous landlords to inquire about past tenancy. An application fee of $25.00 is collected from the applicant and a credit check is ordered from Credit Managers Assoc. of Reno, with a response time generally within an hour. The application fee is credited to the property trust account and then paid to M. Scott Properties to reimburse the costs involved and incurred for credit reports and verification of employment, income, etc. TENANCY As agent for the owner, The Property Managers, M. Scott Properties Inc. enters into the rental agreement with the tenant. A month-to-month contract is signed with rights reserved for the property manager to do an inspection of the property during any reasonable time with a prior 24-hr. notification. This gives us the opportunity to determine if the tenancy should continue. Yearly leases are written with tenants upon owner approval. UTILITIES The tenant customarily pays for natural gas or propane, electricity and trash collection, while Property owners pay for water and sewer. The tenants are provided with a list of utilities and their phone numbers that are to be put in their names. It is strongly recommended that the property owner have standing orders with the utility companies so that the heat and power remain on after the tenant vacates. This helps prevent pipes from freezing and breaking and the resulting water damage during winter, keeps sprinkler systems on during summer months and allows proper cleaning to be completed if needed after a tenant vacates so that the property can be rented as soon as possible. PROPERTY SURVEY Walk throughs are done before and after a tenant vacates a property. We inspect to determine the condition of the property. The tenants security deposit is charged for any tenant damages or cleaning. Tenants will not be charged for normal wear and tear and owners should expect some improvements being needed between some tenants. During rental tenancy, we will inspect the property at the owner's request or every year or sooner if there is a reason. State law requires that we give at least twenty-four hours written notice to enter an occupied property. SECURITY DEPOSITS State law requires that property management firms hold tenant security deposit funds in a non-interest bearing trust account. Security deposits may be used to repair damages, clean the property, and change locks if the keys are not returned or cure rental delinquencies. State law also requires that security deposits be refunded with an itemized accounting of any deductions within (30) days of vacating. Penalties are very severe by not doing so. COMMISSON SCHEDULE The broker will negotiate the commission rate. Commissions collected are based on the gross rents collected, or can be a flat rate. This fee covers advertising, inspections, preparing notices, accounting reports and coordination of maintenance as needed on the property. We will also receive and pay any utility or mortgage payments as requested. No additional fees are charged and no minimum account balance is required. MAINTENANCE We hire independent contractors on behalf of the property owner to do minor repairs to the property and determine whether the costs are related to tenant damage. Although we will take whatever emergency action is needed to protect the property. PROPERTY STANDARDS Property owners should expect some maintenance when a new tenant occupies just as a result of normal wear and tear on any rental property. Tenants want to protect their security deposit and should want the property in good condition if they are expected to leave it that way. MONTHLY STATEMENTS Rental proceeds are mailed to property owners between the fifth and the eighth of each month. We also can provide for a direct deposit to your bank, if a local branch is in our immediate area or by mail. Commission, maintenance, and other deductions as authorized by the property owner are detailed on the owner's statement with a copy of bills provided. Owners are mailed a computerized year-end statement in January of each year reflecting income and expenses for each property as well as an Internal Revenue Services miscellaneous Income form 1099 (1099 miscellaneous) showing gross rental income during the previous year. Property owners are required to provide us at the time of signing the management agreement, the correct Taxpayer Identification Number that is to be used for reporting income for the 1099 form. INSURANCE Property owners are bound by the management agreement to maintain adequate insurance for their property. EQUAL HOUSING OPPORTUNITY IT IS ILLEGAL TO DISCRIMINATE AGAINST ANY PERSON BECAUSE OF RACE, COLOR, RELIGION, SEX, HANDICAP, FAMILIAL STATUS, OR NATIONAL ORIGIN OFFICE HOURS AND LOCATION Our office is centrally located in Minden, 1657 Hwy. 395 #102, we are next to Subway Sandwich Shop. A toll free telephone of (888) 254-5600 is provided for use by all clients or a local telephone number (775) 782-5600. Our office hours are 9 AM to 5 PM, Monday through Friday. Kelly has a 24 hr. voice mail pager, and can be reached 7 days a week to handle any emergency situations should they arise. Saturday & Sundays a receptionist is in our office to take calls and can reach a manager as necessary. You can e-mail us at: mscottrentals@aol.com REAL ESTATE SALES When a property owner is interested in a market evaluation of their property or acquiring additional property, they are encouraged to contact our office to speak with a sales agent who can assist with a comparative market analysis for their currently owned property or send additional information regarding real estate available for investment in this area.
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