WAVA Property Management Services
WAVA Property Management is your partner in maximizing the return on your investment property...
Marketing and Financial Services - WAVA Property Management understands operating expenses and budgeting. Appropriate rental rates are set, balanced by the current market and what it will support in the way of rents. WAVA Property Management has a strong knowledge of the area and competitive rental properties. WAVA Property Management may recommend marketing programs, special promotions and other advertising strategies to you in order to maximize occupancy and rental rates.
Tenant and Occupancy Services - WAVA Property Management understands the needs of the tenants. Getting them to move-in is only the beginning. WAVA Property Management responds to tenant requests, monitors their activities and regards the lease requirements, collects rent in a timely manner, and continually assesses the tenants' satisfaction and regards the property's amenities versus those of competing rental properties in the area. The unwelcome task of eviction for violations or non-payment is part of this function also.
Facility Management Services - Property management is also physical management of the structures and outdoor areas. Landscaping, electrical, plumbing, roof, walls, appliances, and much more are all part of the physical property. WAVA Property Management maintains relationships with contractors and repair companies, budgets capital expenditures, and monitors the quality of all repairs and maintenance. This function ties in with the financial piece, as some improvements will require signifiant capital expenditures and budgeting for them. It ties in with tenant and occupancy management because it is important to tenant retention to have well-maintained properties.
Administration & Risk Management - This is the files and records part of the property management function. Federal, state and local governments all have some jurisdiction over real estate property management activities. Certain reporting requirements must be met for all of them. Meticulous records for accounting and taxes are a must. For reasons of liability, all activities and tenant interaction must be recorded and maintained for specified periods. Though also related to financial functions, there are very rigid requirements in most states for the handling of funds paid by renters for disbursement to owners.