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General Information
Bay Source Realty is a middle sized company which allows us to stay on top of each home & ensure top levels of service.
~ Our constantly evolving marketing & leasing strategies allow us to consistently stay ahead of the curve and use foresight in protecting your investment for years to come.
~ Our international & local connections coupled with our personal attention allow us to lease properties faster.. We understand the dynamics of larger companies & have chosen to operate as a smaller company to ensure cooperation with ALL franchises locally & abroad!
~ There is a onetime set up fee of $125 once you are under property management.
Maintenance
~ Bay Source Realty performs up to 6 inspections per year. With a least 1 monthly drive by to inspect the lawn so the tenant can’t take advantage of a absentee landlord. Bay Source Realty immediately send out 7 Day Cure Letters, which require that the tenant take necessary measures to correct whatever violation has occurred. If they don’t, Bay Source Realty will either, order such correction and take costs out of the deposit OR if the violation is serious enough, will immediately initiate the eviction process. Because Bay Source Realty explains to all tenants what expectations are up front when they sign the lease.
~Bay Source Realty has maintenance personnel for repairs. Bay Source Realty will pay then deduct the repairs from Rental proceeds. NOR do we own the repair company which can cause a conflict of interest. Bottom line, Bay Source Realty wants to SAVE you money on repairs and increase your bottom line – this makes you happy which equals job stability for me!
Background Checks/Application Process for Tenants
Bay Source Realty performs extensive background checks on tenants. Next, we check references which include past landlords and/or employers. Our theory is that if they are good employees, they will typically be good tenants.
~ Once the background check is complete, we will pull a credit report. To ensure they don’t have recent judgments, account charge-offs, bankruptcies, repossessions, evictions, etc. The real difference is that most companies just want to quickly collect a check and will take most anyone. While this can alleviate your financial situation in the short run, it can cost you much more over several months if we place someone in the home that has to be evicted 6 months later – or – destroys the walls & carpet (or worse).
Lease Process
Bay Source Realty has a strict lease provided by Florida Realtors and protected by the Florida Residential Landlord Tenant Act executed on all tenants. This lease covers ANYTHING you can think of and puts the burden square on the shoulders of the tenant to take proper care of your home! It features a grace period, exception for Holidays and weekends..
~ Forms – Bay Source Realty go’s over with the tenants in detail to ensure they understand our expectations for maintenance. Again, by doing this, we can make them understand that we are serious about their upkeep of our homes. WE DON’T MANAGE UNKEPT HOMES so the homes we deliver to tenants are always in good shape & we expect the tenant to keep it that way – it’s that simple!
Quality & Protection Assurance
~ Pets – while we don’t typically allow, we will in many cases if you agree to such. We typically call or e-mail you to get your approval on a case-by-case basis. Typically request a reference letter from previous landlord specifically related to the animal. Additionally, we will collect $250 non refundable fee per pet or more depending on size.
Pictures – pre lease and post lease. Bay Source Realty takes 20-30 digital pictures of all walls, floors & appliances to show the condition of the home prior to the tenant’s move-in. This way, when they vacate, if they attempt to dissent our reason for collection of deposits, we can quickly show that certain damage was not present upon their move-in. It leaves no margin for error! When the tenants understand this up front, again, they are likely to understand that they have to take care of the home.
~ Again, a pre & post lease walk through form that we require the tenant to preview & sign prior to and after occupancy to ensure that they understand what is expected. This relieves the pressure of us proving that they knew of our requirements should it ever become necessary.
Advertising
We utilize every possible method available and are constantly looking for innovative approaches to getting the word out. Such include:
~ MLS – would you believe many managers do not use this?
~ Rental sign in yard
~ Some people think that you need a worldwide recognized name-brand company to market your rental or listing – not true! We are part of relocation networks with MLS and the internet can offer the same level of service to worldwide prospects!
~ We advertise heavily to the military bases on AHRN and the relocation network. We love serving the military and do everything we can to procure their business!
~ Word of Mouth – we are constantly meeting with people and always take the opportunity to mention our properties.
Disbursement of Checks/Commission
We make direct deposits with Wells Fargo Bank and will process checks usually by the 5th day of the month, depending on Holidays and weekends. (Soon as the tenants checks clear). We take our commission out of the check so the check you receive is all yours to keep!
~ Commissions – Bay Source fee is 10% of the rental proceeds when rented per month.
~ Security Deposit is held in a non interest bearing account at Beach Community Bank in Navarre.
Qualifications
Accounting and Office Manager for 25 years
~ Licensed Realtor since 2005
~ Owner & Property Manager of Bay Source Realty since 2009
Conclusion
Our goal is to provide nice, well-maintained homes to quality tenants. By setting forth expectations up front & being honest & upfront with our tenants, we can minimize damage & evictions. We have checklists for every activity necessary. We take our clients and business very seriously and will provide the best service for you and your most valued asset.