Property Management Services Overview
Download: Property Management Services Info
Download: New Owner Information Information Packet
Tenant Application Process
We strive to provide you with the highest quality tenant possible. Our application is
conveniently located online. Everyone over the age of 18 must submit a separate application.
Non-married tenants must qualify individually. This ensures that the rent can still be paid in
the event there is an issue and a roommate moves out. Our tenant application process
includes the following:
• Credit Inquiry: Qualified tenants must have a credit score of 680 or higher
unless you have approved the use of a cosigner. In order to qualify for a
cosigner, the applicant still must have least a 620. The cosigner must have a
credit score of 700 and cannot be a tenant.
• Rental References
• Background/Criminal Inquiry
• Verification of Employment: Applicant must provide proof of net income to be
double the rent with either a pay stub or letter from employer.
• Eviction History
By performing an in-depth screening, we are abIe to maintain a higher standard of qualified
potential tenants.
Protecting Your Investment Property
Tropical Sands Realty, Inc. (TSR) conducts a safety inspection and inventory of your home
and land. Photos are taken prior to tenant occupancy and again after move out. An inspection
checklist is completed at both intervals and kept on fiIe.
Marketing and Tenant Acquisition
Tropical Sands Realty, Inc. (TSR) uses online advertising to promote interest in your property
to potential tenants as quickly as possible. We include your property on the ReaItor′s MultipIe
Listing Service (MLS) as welI as numerous home sale and rentaI directories. These include
but are not limited to the following:
• Tropical Sands Realty, lnc. website
• Realtor.com
• Trulia
• Zillow
• HotPads
• Rent.com
• ForRent.com
• Zumper
• Abodo
• AHRN.com
• Homes.com
Management Fees
Our initial home evaluation is free! This evaluation includes visiting your property to evaluate
its status, taking photos for advertising purposes, and MLS price comparison to determine
a fair market rental price. We have a one-time set up fee of 30% of monthly rent price which is
collected once the first tenant has made the first rent payment. This set-up fee is charged only
once for the duration of TSR′s management of your property, not for every new tenant. Our
management fee is 10% of the monthly rent amount received. Management fees are charged
only when rent is collected. There are no marketing fees collected when no rent is being
collected.
Maintenance Services
TSR maintains a list of trusted licensed and insured contractors who perform repair and
maintenance services at affordable rates. We do our absolute best to keep you informed of all
repairs. Non-emergency repairs that exceed your maintenance Iimit ($400) are subject to your
approval prior to repair. Emergency situations that require immediate action for the protection
and preservation of your property or the safety of your tenant will be completed and charged
to you at the discretion of TSR. We urge homeowners to establish a financial reserve
containing sufficient funds to meet necessary repair costs. Tenants can contact us after-hours
for emergency maintenance at (850) 278-6944.
Insurance Consideration
Please consider contacting your insurance company to change your homeowner’s policy to
fire and general liability insurance (landlord policy). This may lower the cost of your insurance
policy. Tenants are advised to purchase renter′s insurance for the protection of their personal
property. When contacting your insurance company, we would also encourage you to find out
if your policy has any breed restrictions for pets that would be allowed in your home.
Accounting Services
Rent is due on the first day of each month. If rent has not been paid by the 3rd, we will make
contact with the tenants by email, phone call, text message and/or personal visit to
ensure the rent is paid. As part of our accounting services, we perform/adhere to the
following:
• Deposit advanced rent and security deposits in a Florida non-interest bearing escrow
account at Regions Bank in Miramar Beach, Florida
• Collect security deposit equal to one months’ rent prior to occupancy
• Maintain work orders and receipts on file for five years
• Provide owners with IRS 1099-MISC for tax reporting purposes
• Provide owners with access to an online portal that shows monthly statements, work
orders, invoices, tax documents, and allows you to make owner payment contributions
in case of a large repair that would exceed your rent payout
• Pay owners via ACH bank transfer about the tenth of every month
Owner Move Out Reminders
We ask that our homeowners leave your property in the same condition we ask our tenants to
leave your home. If you do this, your first tenants are likely to take better care of your home
as it sets a good precedent. Some general tips that we like to remind homeowners of are
listed below. If you need recommendations for vendors to help you with these items, we would
be happy to recommend someone for you!
• Cleaning: Please be sure to leave your home clean. Some areas homeowners tend to
miss are ceiling fans, baseboards, window sills, and inside appliances.
• Carpet Cleaning: We require all of our tenants to have the carpets cleaned at move
out. If possible, please have clean carpets for your first tenants. If you have pets, we
recommend a dry clean instead of a steam clean to prevent lingering odors.
• Walls: We recommend you have neutral paint colors. This is not a requirement, but it is
not uncommon for tenants to decide not to rent a home due to bright or non-neutral
paint. We also request that you patch and paint all nail holes so your first tenants have
a clean slate!
• General Maintenance: Please ensure everything in your home is working properly. If
anything is not, please let us know so we can help you get it repaired. Our tenants are
required to have all light bulbs and smoke detectors working at move out and install a
fresh air filter. We ask our homeowners to do the same.
• Exterior: Please ensure that the lawn is mowed close to your move out date. If your
home has a vacancy period, especially in the summer, we may recommend the lawn
be mowed prior to your tenant moving in. We will be happy to contract this out for you
and usually handle this on a case-by-case basis.
• Appliances/Manuals: Many homeowners have manuals for their home and/or kitchen
appliances. Please leave these items in the home in a bag or binder for your tenant’s
reference. We encourage you to take photos/record your appliance model numbers in
case they need to be replaced.
Showing Procedures
If your home does not rent immediately, don’t fret! While occupied by either homeowner or
tenant, we do require an approved application from all parties to set up an appointment. This
reasoning is two fold. First, scheduling showings can become intrusive. We do not want to
waste your time or the prospective tenant’s time to set up an appointment to view your home
if they are not qualified. Second, we do ask our homeowners to do showings while they are
still in the home. Since we do not generally accompany prospective tenants on showings, we
want to ensure we know who we are sending to your home for safety purposes. Each person
will have an approved application which does include a background check.
Once your home is vacant, prospective tenants do NOT have to submit an application. They
can come by our office during office hours to check out a key to view your home. When they
come to the office, we obtain a copy of the individual’s driver’s license as well as a phone
number with the date and time the key is checked out. We check out the key on a first-come
first-serve basis.
Long Term Property Management without stress for you is our mission! Owners are encouraged to stop
by and meet your Broker and Property Management Team face-to-face. If you have any
questions or concerns, please visit our office and meet your future property management
team! We wound love to answer any questions you have in person. However, if you are
unable to come see us, please feel free to contact us by calling (850) 278-6944 or emailing
pm@tropicalsandsreaIty.com.