What We Offer
Our Services
At RENewell, we offer a number of services that can help you manage your properties and find great tenants. We are not your standard property management company and are here to improve the communities we work in.
Tenant Placement and Management
We can help you find the best tenants for your property and then assist with managing all tenant interactions once approved.
Property Maintenance
We can provide assistance with exterior and interior maintenance, including snow removal, lawn care, basic upkeep, or helping you find the best contractors for more significant projects.
Property Registration
We offer rental property registration services to property owners. This includes lead inspection, property registration, and rental property registration with the city/county.
Long-term Property Management Planning
Property-specific planning to either increase property values to be equivalent to surrounding properties or to maintain value to maximize return on the investment property over the long term.
Rental Value Report
We can provide a Market Analysis and Rental Property classification (Growth vs. Income) with future rental rate projections that can keep you in the know about your investments.
Fair Value Guarantee
A rental price-point that will result in a tenant placement within 2 months of listing or RENewell will forfeit our placement fee. We compare prices to other rentals in the same area to ensure the best price for the owner and tenant.
How to Contact
If interested in working with us or learning more about our services, please contact us via email at calebnewell@renewellproperties.com or give us a call at 443-347-3639.
FAQ
I’m interested in property management services, who should I call?
- You can e-mail us at calebnewell@renewellproperties.com or call 443-347-3639
What property management services do you offer?
- Our services are offered as part of a contract or as ‘a la carte’.
- Rental property registration services
- Property evaluations and market research
- Property listing and showing to potential tenants
- Property maintenance
- Property upgrades
- License renewal
- Property inspections
- Tenant Interactions
- Tenant screening
- Rent negotiations
- Management of security deposits
- Rent collection
- Maintenance requests
- Tenant transitions (property inspections, unit prep)
- Legal interactions (RENewell Leases, court appearances, evictions)
- Property management company transitions
How much rent should I charge for my property?
- RENewell performs a property inspection and uses this information along with a comparative assessment of similar properties to help suggest a rental rate for the property. Our goal is to set a rent that both minimizes the vacancy time and assures a competitive market value.
What are the fees for managing my property?
- The following fees are routinely charged as part of a property management contract
- Tenant Placement: 50% 1st month’s rent (if tenant found by RENewell)
- Stage and marketing of property
- Background/credit check ($25 fee paid by prospective tenant)
- Property Management Fee: RENewell follows a tiered price structure in which the property owner pay a smaller percentage of the rental price/unit, the more units managed. 2015 price structure is as follows: 1-3 units: 10%, 4-6 units: 9%, >7 units: 8% of monthly rent.
- Sign tenant to RENewell residential lease
- Open business checking for rent deposit
- Hold security deposit
- Process all rent payments
- Disburse rent income to owner by the 15th
- Property Maintenance Fees: Dependent upon the needs of the specific property
How is the rent from my property disbursed?
- RENewell is equipped to handle disbursements in a variety of ways. The most common method is monthly, but quarterly biannually and even annually are also options when RENewell pays properties’ bills. We attempt to minimize bank fees by maintaining an average checking account balance that is above the bank’s minimum requirements:
- Monthly: Disbursements by the 15th of each month
- Quarterly: Disbursements by the 10th of March, June, September & December
- Biannually: Disbursements by the 5th of June & December
- Annually: Disbursements by the 5th of December
What happens if a repair needs to be made?
- RENewell manages all repairs made to a property. Those repairs are ultimately paid for by the owner, but often these expenses are initially paid by RENewell and reimbursed using the next month’s rental funds and/or the repair escrow. All repair needs are reported to the owner as soon as possible. RENewell then gets quotes for the repair from an appropriate professional (vendor), reviews the quote for value and supplies the details to the owner. If the repair price is less than the owner approval threshold (usually $250-$500) or is urgently required (i.e. leaking ceiling, gas leak, plumbing disaster, etc). The repair work is approved by RENewell and reimbursed by the owner. If the repair is above the threshold and not urgently required, RENewell requests permission from the owner to begin the work or get another quote. If additional quotes are required, RENewell will request them. Depending on the type and size of the repair, RENewell may request that a portion of the quoted repair price be supplied to RENewell to secure the service, with the balance due upon completion. RENewell tries to use local vendors to handle the majority of our repair requests, but we will work with owner specified vendors when requested.
How much should I budget for repairs?
- Budgeting for repairs is necessary for all property owners but the amount required varies based on a large assortment of details of the property (age, upkeep, etc) When a building is well managed, emergency, unforeseen repair requests will be kept to a minimum, but cannot cover all eventualities. A good rule of thumb is to set aside 10% of earnings from a rental property to cover future expenses. RENewell reviews each property under management with the owner on a yearly basis and provide the owner with a list of property repairs and/or upgrades that will be required within the next 3 years helping owners to budget appropriately.
What happens when a resident defaults on rent?
- RENewell manages legal interaction with the tenants. This includes court appearances and evictions when required. The cost of pursuing an eviction is explained to the owner and agreed to prior to initiating the process. All incurred legal fees are paid for by the property owner or in certain circumstances, by the evicted tenant. RENewell has a law-firm on retainer for when legal action is required, but will utilize the services of a separate firm when a property makes a request for us to do so.
How do I sign up?
- You can e-mail us at calebnewell@renewellproperties.com or call 443-347-3639