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Live in Style!
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Live in Style!
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Neighborhood's we serve.
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Good Tenants, Good Properties, Good Landlords, everybody's happy!
Landlord (owner) Services:
Evaluate the Property. Evaluate the property to determine rent price based on specifics of the house, location and comparables in the surrounding area. Evaluate the property based on renovations or updates. I.e. if you updated the kitchen or painted could you get more rent and how long would it take to recoup the expense. Perform inspection of the property looking for items which need to be repaired immediately or at some point. Marketing your Property. The world wide web has quickly become the most used resource for people looking to buy, sell and rent real estate that's why we have chosen to use internet for the majority of our marketing efforts. We utilize several local housing boards from business and universities in the area as well as classified posting sites like CraigsList as well as our own site. In our experience, the internet has proven to be a more effective tool when marketing for rentals than yard signs and the newspaper, but we still use these methods when necessary. Screening Applicants. Will this person be a 'good' tenant? Bottom line you want a tenant who will take care of your property and pay the rent on time. We use four main factors to strengthen our chances at getting a 'good' tenant for your property. Employment Income, Past rental experience Background and credit checks. We can perform other screens if requested. We do not discriminate in any way, shape or form. Management Agreement and Leasing. All of our forms are the NC forms approved by the real estate board. We use the Exclusive Property Management form to define the agreement between the owners and our agency. We use the Residential Rental Contract for our lease with tenants. Our application asks for employment, income, rental history, references and permission to check all of these plus perform background and credit checks. There are also several other forms which will become part of the management agreement and lease like the Lead Based Paint addendum for homes older than 1978, Move In Inspection and Maintenance addendum. Maintenance. From the tenants, routine inspections, leasing we're going to find things that need to be maintained. When we do, you'll be hearing from us. If it's a small ticket item, $100 dollars or less (this amount is set by you) we'll take care of it and send you pictures, statements, whatever documentation you require. If it's a more costly item, we'll call you to discuss the problem, then we will get estimates and get it fixed. From several renovations of our own we have a network of trustworthy, experienced, licensed and insured professionals who can fix just about anything. *There is a 10% fee charged for negotiating maintenance and/or repairs over the set amount above. Accounting. Month to month and year end accounting for all income and expenses is provided by property and account. You will receive a statement each month outlining all income and expenses to date. Along with a payment reflecting the difference between the rental income less any expenses and our fee. Payments can be made by check via regular mail or bank draft directly to your account. You will receive a yearly statement and 1099 for your tax purposes. Services and Rates. All of the items above refer to our typical Property Management service where we are hired to manage the property for the owner on an ongoing basis. The owner can be as involved as they see fit. Our rates for this service start at 10% of the monthly rent. There are no other fees other than maintenance fees discussed above. This rate is negotiable depending on the circumstances for each client. We also offer a one time Finders Fee for clients who just need help finding the tenant. The fee for this service equals one month's rent and is due when the lease is signed. This includes marketing, showings and assistance with completion of all forms. We are not part of any of the contracts nor do we screen, check credit or references for this level of service.
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First Street Properties' motto is; Live in Style! Call us for information on real estate sales, marketing and rental properties in the Winston Salem area. We have on staff a real estate agent and project managers ready to assist you with buying, selling, renting, home restoration, remodeling, computer automation, home theater installation, and relocation. We specialize in turning old run down historic properties into the beautiful treasures they once were.We specialize in historic neighborhoods like West End, Ardmore, West Salem, Washington Park, Holly Avenue or anything in downtown Winston Salem. We are also a very knowledgeable resource for those considering a 'fixer upper'. We can help walk you through the process of finding a home, renovations, tax credits, and craftsman. Check out some of our projects; before and after photos.Contact David Phillips at
david@first-street.com with
questions or comments about this web site or our services.
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