As a property owner, when you partner with a property management company, it’s essential to understand the legal aspects of this relationship. This is where the Property Management Agreement comes into play.

Our team has outlined eight crucial components of the Property Management Agreement that you should carefully review before entering into this legal partnership. It’s important to read through until the end, as we’ll also share what a Property Management Agreement does NOT do.

At Ramona Property Managers, we understand the significance of a Property Management Agreement and want to ensure you have all the necessary information. Our goal is to provide you with a seamless and transparent experience as we manage your property.

How Easy Is It To Cancel The Agreement?

We understand that reviewing the termination clause of the Property Management Agreement may seem unusual, but we consider it to be one of the most critical aspects. It demonstrates our commitment to providing you with the utmost flexibility and ensuring your satisfaction with our services.

At Ramona Property Managers, we firmly believe that a property management company should never restrict you or impose penalties for terminating our agreement. Your freedom to choose should always be respected.

That’s why our management agreement is structured as a month-to-month arrangement, allowing you the option to leave whenever you deem necessary – without any termination fees or penalties.

Are There Fees Hidden In the Agreement?

We take pride in our commitment to transparent and fair fee structures. We believe that open communication about fees is essential for a successful partnership.

It’s important to be wary of companies that hide fees within the agreement. This lack of transparency can be an indication that they are not upfront about their charges. We understand that you want to have a clear understanding of the costs associated with our services.

With us, you can expect full disclosure and clarity regarding our fees. We believe in open and honest communication, ensuring that you have a complete understanding of what you will be charged for our services. Our goal is to build trust and provide you with peace of mind, knowing that our fees are fair and in line with the value we deliver.

Is Your Money in An Account Separate from the Management Company?

The Number One Commandment in Property Management is: Thou Shalt Not Commingle.

That means your money cannot be used to pay for somebody else’s expenses – and definitely not the operating expenses of the Management Company.

Ramona Property Managers maintains a trust account for your property and you will keep this account funded with a reserve account.

This money serves two purposes: 1) This money may be used to pay expenses; and 2) Maintaining a positive balance in your account at all times prevents comingling.

Ramona Property Managers, Inc. requires a reserve amount of $500.00.

When Do You Get Your Money?

As a property owner, it’s crucial to have a clear understanding of when you can expect to receive rental payments from your tenants. After all – it is your money.

Our accounting cycle closes on the last business day of each month for the previous month’s transactions. This means that we diligently reconcile all rental payments and expenses, providing accurate accounting for your property.

To ensure a secure and efficient transfer of funds, we utilize secure ACH to directly deposit the funds into your account no later than the 5th day of the following month.

We understand the importance of timely and accurate payments, as they directly impact your cash flow and financial management. Our goal is to provide you with a hassle-free experience, knowing that your rental income will be disbursed promptly and according to a reliable schedule.

What is the Maintenance Limit?

Our maintenance protocols clearly define the responsibilities between tenants and owners when it comes to repairs. We handle all repair issues promptly and efficiently, allowing you to focus on other aspects of property ownership.

For your convenience, we have set a threshold of $500 for repair requests that we handle without involving you.

We believe in proactive communication and transparency, and we will keep you informed of any significant repair or maintenance issues that may require your attention.

Our goal is to minimize disruptions to your daily life while ensuring that your property remains in excellent condition.

Who Handles The Evictions?

In the unlikely event that an eviction becomes necessary, our experienced team will oversee the entire legal process from start to finish.

This includes preparing and serving all necessary legal notices required to initiate the eviction process in California.

We handle all aspects of the eviction process, saving you the time, effort, and potential additional expenses of engaging separate legal representation.

Our team is well-versed in the specific legal requirements and procedures involved in tenant evictions in California, allowing us to navigate the process efficiently and effectively.

It’s important to note that our commitment to providing comprehensive legal support means that you won’t need to involve your own legal counsel.

Who Handles Maintenance?

Maintenance is a crucial aspect of property management, and we take care of all maintenance tasks on your behalf.

Our team of experienced professionals is available 24/7 and dedicated to promptly addressing any issues that may arise, ensuring that your property maintains its value.

To maintain high standards of quality while minimizing liability for owner and Ramona Property Managers, we do not use owners’ preferred vendors for maintenance services.

We are proud to hold a valid contractor’s license, which allows us to perform a wide range of maintenance and repair tasks in compliance with local regulations. Our licensed status demonstrates our expertise and commitment to providing professional and reliable maintenance services.

While our team handles the majority of maintenance tasks, we understand that some owners may prefer to perform certain maintenance work themselves. If you would like to prepare units for tenants, we appreciate your proactive approach.

However, any turnovers performed by the owner must be approved by Ramona Property Managers

What We Do

Marketing

Our hi-tech and hi-touch marketing system attracts high-quality applicants to quickly find the right tenant for your property.

Tenant Verification

We have one of the most comprehensive verification systems in the industry. Applicants are screened for credit, employment, rental history, and more.

Rent Collection

Tenants pay rent directly to our office. We offer tenants 8 ways to pay their rent which maximizes our ability to collect 95% of rents in a timely manner.

Maintenance

With vendors available 24 hours a day, 7 days a week, we handle all maintenance requests and coordinate repairs so you don’t have to.

Accounting

Full accounting records, monthly statements, year – end statements and you can access your account any time through the 24/7 Online Owner Portal.

Evictions

If a tenant relationship ever takes a turn for the worse, we can assist with the eviction process & minimize its impact on your bottom line.

Inspections

Annual and on-demand inspections allow us to identify potential problems in advance, maintain good communications with tenants, & keep your home healthy.