4M Property Management manages just under 100 properties today. Our philosophy is to focus on quality vs. quantity in order to provide the highest-level experience to both the Owner and Tenant. Learn more about our founder and the reason why 4M came to be at http://4mpropertymanagement.com/about/
All Property Managers at 4M Property Management have a minimum of a SC Property Management license, SC Real Estate license, or SC Broker in Charge license. In addition to the continuing education requirements required for real estate licensees we are also a member of the National Association of Realtors, Greater Greenville Realtor Association, and National Association of Residential Property Managers (NARPM) www.narpm.org
We are glad to share personal references with you and encourage you to look at both our Google and Facebook reviews of both Owner and Tenant experiences.
4M Property Management was founded in 2013. Learn more about our story at http://4mpropertymanagement.com/about/
Although it would be hard to outline here what all is entailed in providing a successful rental experience we will list some of the basic. 4M Property Management provides leasing services for do it yourself Owners, provides full service property management, and helps investors find, purchase, sale, and manage investment property.
Rental rates vary and there are many factors that lead to the rental rate. 4M Property Management doesn’t believe in “shooting from the hip” but believes in providing data in the form of a rental analysis along with our property managers expert research and opinion on property values. Ultimately you choose the rental rate with your Property Manager.
4M Property Management advertises properties with yard signs, to Realtors and relocation specialist, to companies that are relocating staff to the Upstate, on the MLS, and to aprox. 50 different rental sites.
By using the latest technology potential renters can access and schedule appointments 24/7 on their smartphone or computers. In addition, our leasing lines are open Monday – Friday from 9am – 8pm est. and weekends 9am – 5pm.
Unoccupied properties can be shown by other licensed agents and seen by potential renters 7 days per week 8am – 8pm during summer months or 8am – 5:00pm during winter months. 4M Property Management offers a variety of options for showings including Property Manager showings, Agent showings, and pre-qualified self-showing options. Occupied homes by Tenants are shown on a weekly schedule between 9am – 5pm.
Most all leases are advertised as a 1-year lease. Leases are sometimes scheduled to end during peak seasons which are less than 12 months, and others with relocation/corporate assignments can go 18 months – 36 months. Our goal at 4M Property Management is to minimize vacancy.
The qualification process starts at the showing request with qualifying. Each applicant is required to provide a government issue picture ID, a credit and criminal background screening, verification of income and Employment, nationwide eviction search, and past Owner verification. Pets have additional screening when permissible with pictures and vet. Records. The process can be quite entailed and usually takes 1-3 days and the cost of the screening is paid for by the applicant. 4M Property Management follows all Fair Housing guidelines and does not discriminate.
We are pet lovers at 4M Property Management but understand the challenges that pets present when renting homes. Owners have the option of accepting pets, setting guidelines for what is acceptable and not acceptable, etc. 4M Property Management pet policy can be found at http://4mpropertymanagement.com/wp-content/uploads/2018/02/Pet-policies.pdf Owners receive pet rent minus the management fee.
4M Property Management has a non-smoking or vaping policy for all homes with no exceptions. Smoking or vaping inside a home is a lease violation and could be reason for terminating a lease.
A move in report is one of the most critical areas of the leasing process. The #1 reason why Owners and Tenants end up in court is over disputes about the security deposit. 4M Property Management uses special software to document, picture, and at times video homes to provide a conditions report when the lease starts. This report is later used at move out when a move out report is conducted in the same way to resolve the security deposit. It is not uncommon for a house to have 100 pictures or more in these reports and both the Owner and Tenant are provided copies of the report.
A 60-day written notice is required to end a lease and goes into effect the 1st of the month after it has been received. We have found a 60-day notice provides both the Owner and the Tenant ample time to prepare for the transition and renting of the home to a new Tenant.
4M Property Management uses 3rd party vendors to provide the needed services at homes. Vendors are vetted for several things including insurance, licensing when required, and their ability to provide a high level of service at a competitive market rate. When a service call is received the 4M Team starts trouble shooting with the Tenant to see if this can be resolved quickly or whether a vendor is needed. When a vendor is dispatched the Owner receives a full report about the dispatch and the service need at the same time.
The service evaluation cycle for a home provides access to a home a minimum of 2 times during each 12-month lease cycle. During a service evaluation air filters, plumbing devices, smoke detectors, general conditions and care, and any noted areas of maintenance either immediate or in the future are noted. Each Owner receives a full report when these services are completed and there are no additional charges for these evaluations.
The Tenant is responsible for changing air filters every 30 days, replacement of batteries in smoke detectors, lightbulb replacement, tightening of handles, lawn care, maintaining a clean and safe environment, and general upkeep of the property. The Owner is responsible for operating systems, appliances with a few exceptions, and the structure of the property. Any item that is damaged because of improper care, abuse, or misuse by the Tenant is the Tenants responsibility for repair cost. Many Owners provide preventative care to properties such as bi-annual heating/air service, spring/fall outside cleanup with power washing and gutter cleaning, and misc. other services.
We have found that home warranties although valuable to owner occupied property does not provide the level of service and care needed for Tenant occupied properties. 4M Property Management advises against home warranties as it does not provide the desired level of service and experience for the Owner or Tenant that we strive for.
Lawn care is traditionally the Tenants responsibility. 4M Property Management does have a good number of Owners that provide lawn care as part of the rental experience. If you or your HOA is particular about lawn care we would recommend including this as part of the rent.
4M Property Management maintains 24/7 options for maintenance emergencies included with your management services. All after hours emergencies are handled via a third-party call center, dispatched directly to 4M Property Management vendors and/or the Property Manager.
4M Property Management is glad to work with Owner’s vendors as long as they will work within the 4M standards of service.
Our agreement with vendors is to pay them monthly once work is completed and invoiced. 4M Property Management can spend up to $250 per month on service needs and pays the vendor from collected rents. If rents cannot or are not collected that month the Owner would be asked to fund their account to make vendor payment. Each Owner receives notification at time of a service dispatch and receives actual vendor invoices. We believe in communication and transparency when it comes to service.
Fees and Financial Questions:
We believe in transparency and as a result list our pricing directly on our website for your review. You can see pricing information at http://4mpropertymanagement.com/pricing/
There are no sign-up fee’s with 4M Property Management.
4M Property Management charges on collected rent and if a property is vacant and is not generating rent there are no charges. Vacancy is a BIG cost for Owners and one we take seriously. We believe “we win together and we loose together.”
4M Property Management splits late fees 50/50 with Owners. There is a lot of work that goes into collecting late rent, paying Owners out of the traditional pay cycles, etc. however we believe that the property manager should not be wholly incentivized for late payments. 4M Property Management maintains less than half the industry average in Tenant late payments and would prefer that all Tenants pay on time vs. charging and collecting the additional fee.
Rent can be paid several different ways. Rent is due on the 1st of the month, is late after the 5th of each month. Tenants can pay rent electronically with a savings or checking account online via a Tenant Portal, through their bank with BillPay, send a check, or drop a check off at the designated mail facility.
Each Owner is provided an Owner Portal where they can see all lease documents, service reports, and financial statements. 4M Property Management uses the latest technology to provide access and transparency to each Owner. In addition, a monthly statement is sent to each Owner that gives an accounting of all activity in the last month.
Owners funds are distributed monthly between the 10th-15th of each month. Most owners prefer an electronic transfer of funds into their bank account and an electronic statement via email. 4M also can send a monthly check or statement if preferred.
4M Property Management standard security deposit for a well-qualified applicant is equal to 1 months rent. Some applicants may be charged an additional security deposit up to 3X the monthly rental amount.
The property management company is required to hold the security deposit in a trust account. All security deposits are held in trust until the end of the lease and then resolved accordingly with the move in/out report and the requirements of the SC Owner Tenant Act.