a. An initial 90-day inspection of owner's property with photos and an email report.
b. We spend additional time during the screening process as needed, to pay for top level professional screening of all applicants. Our background checks will include a FICO score, S.S. number verification, Fraud Alert, plus criminal background check. This includes a physical call to the applicants job and landlord to confirm if they have the proper income to pay rent and to confirm if there were no problems with a past landlord.
c. Collection calls if rent is not paid by the 1st of each month, beginning on day-3 and day-5, which is the end of the grace period. Each month we routinely manage internal collection efforts as needed, where our staff makes phone calls and personal visits to each rental if needed to assure that rent payments are collected on time. WE DO NOT charge an extra fee for our staff to go to court on owners behalf.
d. We or a process server will issue a 3-day Notice to Pay or Quit, on days 6-8 and we do work weekends and holidays for this service. This notice is posted on their door and mailed.
e. A BCI Agent will communicate with the tenant to find out just why they were late and to impress on them how important it is for the property owner to pay their mortgage on time!
f. If we see a tenant is having problems paying rent on time, that is a red-flag .........
We then put into action our pre-prepared plan to find the tenant a cheaper rental, pay for a free UHaul truck and other measures to help the tenant move out, providing that they keep their rent paid in full and on time during this process, and keep the rental in clean condition. This level of tenant care and concern pays off for our owner/clients by avoiding the high costs of evictions and possible damages to the owners rental. BCI pays these costs of mitigation, not our owners.
g. Maintenance needs are addressed 7-days a week, there is always a live person available for tenants to contact in case of needs or emergencies. A BCI Agent will investigate and assign a vendor to assess what is needed with costs. Our vendors are well schooled by BCI to report to us who is liable for the maintenance or repair needs. We then take our assessment to you the owner for final approval. If we determine the tenant is liable and caused the need for maintenance then we bill the tenant. This can be time consuming and require more than one visit to the property. Owners must pay any vendor inspection fee or repair costs naturally, even for our own service personnel, because we have to pay for that time and it cannot be absorbed into the basic fee structure. If the maintenance or repairs are determined to be the tenants fault.., then we will bill the tenant naturally.
*Note: if tenants cannot pay a repair bill that they are liable for, then owners must pay the cost initially until the tenants can pay. Tenants who do not pay any invoice or bill that they owe are generally sent to collections and asked to move. Collection companies will follow tenants for up to 10 years and garnish their wages, plus it will show up as an unpaid black mark on their credit report until paid.
h. The basic BCI fee includes a daily accounting of all owner funds as needed, plus our full service bookkeeping, with monthly reports and invoicing available online with a password protected Owner Account. The setup for new accounts takes time and this is included at no extra cost in consideration of our monthly fee and no setup fee or upfront funding is needed. BCI pays about $800 a month for Professional Rent Manager software, as an included benefit to our owners.
i. Log entries must be made daily, weekly and monthly as needed for our tenant accounts, which are separate from owner accounts. In fact we include daily online updates for our owner and tenant accounts as needed, with the updating and posting of maintenance or repair work orders, plus calling utility companies for change over to a tenants name..... and more.
j. Renewal of lease begins 90-days prior to lease expiration, with checking of market and area rent averages and communication with owners to see if they want any changes. Also, we perform a new full inspection at the end of 12 months for annual leases when they are renewed unless an inspection has been done within the past 90 days. Thereafter we schedule 180-day inspections with photo/reports to owners.