We seek to obtain the highest level of performance from each rental property. It is our philosophy that premium, renovated properties, along with attentive management produces the highest level of market rent, lowest vacancy rate and lowest turnover rate - ultimately leading to greater investment returns.
With today's rapidly evolving business climate going global, we understand clients needs for flexibility + speed as key ingredients of success.
- We'll act as your personal advisor and consultant during the property search process.
- During the negotiation, we will make our best effort to deliver an outstanding purchase price + terms from the seller.
- Prepare a lending package, gather all of the financial information required.
- Following close of escrow, we will market to and locate tenant(s) for your property within the tri-state area.
- Minimizing the days your property is vacant is our ultimate goal.
- Following tenant placement, we are there to be your local knowledge bank and source for addressing issues such as maintenance, compliancies, etc.
- Timely and accurate tenant billing.
- Preparation of annual operating budgets.
- Service and supply contracts negotiated using competitive bidding.
- Assist with compliance of government regulations.
- Careful administration of lease terms and conditions.
- Tracking vacancy rates, vacancy factors, time-on-market, and rent values for the area.
10% of the total gross income
Direct Deposit Schedule
Net Rent Income deposited monthly on the 15th
Equivalent of the first month's rent
Small fee is charged when we renew a current lease
Frequently Asked Questions
Why should I choose WHITCO?
We have the experience & “know-how” to make your real estate investment a success. When you hire us, you can expect the very best management solutions, we will make every effort to earn your trust. There is no better choice for your investment and peace of mind. Our corporate office in Memphis, Tennessee is an ideal location for servicing the Mid-South area. Our success lies in offering you the reliable, efficient property management service that you deserve. Our experience gives us expertise in: local rent structures, lease agreements, maintenance needs, insurance requirements and landlord/tenant law.
Why should I hire a professional property management company to manage my rental property?
Turnkey property management is all the rage right now. If you lack the time or expertise needed for day-to-day management of your residential/commercial real estate investments, an expert property manager can help you make a big difference in your investment success. We can help you with the following, while being your eyes and ears on deck:
- Market your rental property to minimize vacancies and maximize income (link: Property managers make their livings because they know the rental market, what comparable properties are renting for, and what potential renters are willing to pay for a rental property.
- They have the marketing know-how to reach potential renters and they have the experience and resources to weed out poor credit risks
- Fill vacancies with the best possible tenants;
- Maintain and keep your rental property in good condition (link: Property managers handle and coordinate routine repairs as well as emergency repairs. They have the experience to avoid unnecessary repairs to save you money);
- Track income and expenses to determine profitability;
- Negotiate rental agreements;
- Collect rent and track tenant deposits;
- Comply with federal, state and local laws; and
- Respond to tenant requests and deal with tenant’s problems
- How do we market your property?
We have a major presence on the web with our primary website at whitco.co, where we post up to 10 attractive photos of your property, information & directions. Our Marketing department daily takes care of online development and site management to ensure our clients that their property is getting the optimal exposure available online. Scheduled showings of vacancies are performed seven days a week (selected offices) by professional leasing agents. We post professional rental signs at the property to attract prospective tenants.
How can I know what my home will rent for?
We do a detailed analysis of the rental market, factoring in the condition, location, and amenities of your property along with the current rental market.
What happens when a tenant is in breach of the lease contract?
Once a violation has occurred, we will post legal notice to the tenant with an opportunity to cure the violation. If the violation is not cured, it will be forwarded to our attorney for eviction filings.
Who holds the Security Deposit(s)?
WHITCO maintains all security deposits, and is the fiduciary under Tennessee General Statutes. Please refer to the Management Agreement for details.
When does an owner get his/her check?
We make every effort to insure your funds are received no later than the 15th of the current month. Direct deposit of any owner's monthly check is available at no extra charge. In addition, we include an itemized accounting statement.
Will I know what is going on with my property?
Yes. We will communicate with you throughout our agreement and keep you aware of any issues that may arise. We will contact you at reasonable times to discuss repairs and notify you of the residents notice to move.
How often are inspections done at my property?
Before a new resident moves into your property, we will complete a detailed move-in checklist with the resident, which provides written documentation as to the condition of your property. Thereafter, each year we send a written notice to our property owners to recommend a safety and maintenance inspection. If approved by the owner, a certified home inspector is scheduled to inspect the property. During this inspection, the inspector will make sure the smoke alarms work, test for plumbing leaks, check the caulk and grout in the bathrooms, examine the exterior painting, and complete an inspection report.
How do you handle maintenance requests?
Residents may phone, fax, or mail their requests to us, and they can request maintenance online at our website. After we receive a repair request, we may contact the resident and ask them questions, which will help us determine the exact nature of the problem before sending a service technician. If the resident has a legitimate problem, we will schedule the repair. Most repairs are scheduled within one business day. Comfort items such as air conditioning, no hot water or heat, receive the highest priority and are usually attended to the same or next business day.
Do you handle problems late at night and during weekends?
Yes. Residents can contact us 24 hours a day and 7 days a week to respond to emergencies. We will then talk with the resident to determine how to proceed. Many times we can solve the problem over the phone, saving you the cost of an emergency trip charge.
Can you pay my monthly property bills for me?
Yes. We can pay your Mortgage, Insurance, Homeowners fees, etc. There must be sufficient cash flow from the property to cover such expenses and we will ask you to advance us the necessary funds for this purpose
Can you start managing my properties today?
Yes. To set up a free consultation to discuss your property in detail, please contact us.