Servicing our Landlords/Owners – Valuable Services For You and Your Properties!
MARKETING
After discussing ownership goals, we determine the current rental value by doing a rental analysis of area properties, taking into consideration the similarities and differences of physical characteristics such as type of structure, age and general appearance. When a marketable rate is determined, we then present the property to prospective tenants through newspaper advertising, military housing referral offices and continual exposure through the housing inquiries in our Real Estate office.
TENANT SCREENING and SELECTION
With our property manager always present, property viewings are scheduled with interested parties. We realize that the majority of folks work during the day so we often schedule viewings in the late afternoon and on weekends. Once rental applications are submitted, we then screen and qualify all prospective tenants. Credit checks are performed, employment is verified and previous landlords are contacted to verify payment history and property care and upkeep. We then contact you with the above information and make our recommendations.
LEASES and TENANT CHECK-IN
Once a qualified applicant is selected, they are brought into our office where they sit with our licensed property manager to go over the terms and conditions of their lease. All tenants are required to sign this rental agreement, acknowledging the contract and their responsibilities. At Watanabe International, Inc., we recommend an initial lease period of six (6) months in order to ensure proper care of the unit and tenant responsibility. If, at the end of this initial period all requirements are met and all parties agree, an extended lease can be entered into at this time.
At the time of signing, the security deposit, equal to one month’s rent, is collected along with any pro-rated rent due from the date of occupancy to the end of the first month. The tenants are then given keys and an Inventory and Condition check-in sheet, which must be completed room by room and signed and dated by the tenant and property manager. This sheet is then used for Inventory and Condition comparison at the time of tenant move-out.
RENT COLLECTION and OWNER DISBURSEMENT
At Watanabe International, Inc., we handle all receivables, payables and monthly financial reporting. We maintain strict control to alleviate your day-to-day concerns. All rents are due and payable by midnight of the first day of each month. Once the monies are collected, all maintenance or repair costs, General Excise Tax fees, or other items deemed necessary by the owner for payment are deducted from the rent along with the monthly management fee. Any and all residual rent monies will then be disbursed to the owner or his agent, or deposited directly into his designated checking or savings account. Accompanying the monetary disbursement will be a monthly Cash Flow Statement for each individual property, which shows an itemized account of all income and expenses including a year-to-date total. These reports keep you fully informed on the operation of your property.
In the event that rent is not received by the due date, procedures required by the Hawaii Landlord-Tenant Code are strictly followed in order to assure payment or, if need be, begin eviction proceedings to minimize potential loss to the owner.
MAINTENANCE and PROPERTY INSPECTION
If maintenance or repairs are deemed necessary, we will place a work order with a contractor or handyman who provides us with fast and economical service on a regular basis. We will use our discretion, unless otherwise directed, and contact you only on work orders of more than $200.00. To assure proper care and upkeep of the property and that tenants are adhering to the terms of the rental contract, the property manager will conduct routine property inspections.
MANAGEMENT FEE
An initial owner reserve of $200.00 is to be placed on your account. This deposit will be used, if need be, for the General Excise Tax license fee and/or the initial newspaper advertising cost. The $200.00 will remain in the account for the duration of the management contract to cover any expense that may be incurred during the month and after the owner disbursements have been made. This $200.00 deposit will be refunded to the owner at the termination of the management agreement.
Along with the initial deposit, a fee of 10% of the monthly rent will be charged for each property managed by Watanabe International Inc.
