Bartomeo Property Management

We are a full service property management company that utilizes our proven systems, strategies, and experience to provide the highest levels of customer service while ensuring the maximum profitability. We strive to increase value and reduce costs.

Marketing Properties

Proper marketing of rental properties is extremely important because every day your property sits vacant, you are losing money.

99% of the properties we rent begin with online inquiries. People simply jump on google, or their favorite national rental finder website and go about their searches. That is why it’s so important for us to play ball with these big websites and get your properties on them.

Rather than just say “we advertise on a bunch of websites”, let us take a moment to explain how it actually works from an insider’s view.

There are 5 main ways we market your property to reach different groups:

1. Multiple Listing Service (MLS) - For Agents
   The MLS allows "Realtors" to list all properties for rent or sale which allows other realtors to see the information they need for their clients. The problem is potential renters don’t have access to it, so only those working with a rental agent would be able to see your property. 
2. Third Party Data Pushers - For Tenants
   These companies are incredibly useful because they syndicate the properties info out to all the big rental websites, such as Trulia, Hotpads, Apartments.com, Zillow, and about 100 others.
3. Qualified Tenant Lists - For Tenants
   This is our own in-house list of tenants we have collected over time. When one of our properties comes up for rent, or you give us yours to manage, we send the properties to this group.
4. Craigslist - For Tenants
   Typically this method is not needed, as the rental market continues to be so strong, items 1 and 2 are sufficient at finding a renter in an average of 10 days. Sites like Craigslist tend to attract a lower quality renter, and is full of scams. We will use this in a last ditch effort to move a property that is sitting for a longer period of time.
5.  Social Media - For Tenants                                                                                                  There is a growing trend for potential tenants to utilize social media for their property searches. We market your property on Facebook, Instagram, and You Tube. The average American spends 80% of their internet time on social media and your property will be there for them to see.

 

Tenant Placement and Screening

There are many pieces to the property management puzzle but this is the most important. 

Tenant applications are processed online only after they have viewed the property and have been prescreened. 

 

 

• Our industry leading software does nationwide background checks
• Credit, sex offender, criminal, terrorist, eviction, and felony checks included
• Income and employment verification
• We require prospective tenants make 2.5x the monthly rent
• Contact previous landlords/management companies for history
• Some of our owners are hands on and some are hands off. You can be as involved as you like. We will always give our recommendations on a tenant. .

Using this process, our eviction rate is under .1%. 

Inspections, Security Deposits, and Reports

One of the most difficult elements of being a Landlord is knowing how your property is being treated.

Here’s how it works:

1. When a property is ready to be on the market, we fill out a thorough inspection report accompanied with pictures and video so we know the exact condition of the property before a tenant moves in.
2. Once a tenant is placed, we advise them to take pictures of any problem areas and make note of it so they are not wrongfully charged when the move out.
3. At 10 months, we conduct an inspection to ensure the property is being properly maintained and taken care of, and give a recommendation for renewal. 
4. Upon the tenant vacating, we use the same type of report used a year prior (move-in inspection) and conduct a move out inspection, and of course, take pictures and video.
5. We compare the reports to determine what damages were caused by tenants. Most common dirty carpets, not deep cleaning the house, and leaving behind personal items.
6. Any items that is the tenant’s responsibility are deducted from their security deposits. The monetary amount deducted is based off estimates from vendors.

This process has proven to be the most effective and allows our clients to rest easy knowing we play a fair game in making sure damages are properly deducted, so their property can turn quickly and rent again.

Security deposit amounts are typically equal to the rental amount. All security deposits are handled following Florida State Law.

Maintenance Requests

One of the biggest concerns we hear from new owners is how poorly their old PM handled maintenance. Maintenance is normally where property owners get ripped off the most. Here’s some easy ways you can be ripped off without you knowing:

• Have vendors do work, but create their own invoices that have markups you could never see
• Say things are broken, like a $5,000 A/C replacement, when they’re really working just fine, and pocket the money
• Use their own in house handymen who are unlicensed and uneducated in the field of work, pay them $10 an hour and charge you $50 an hour

Sadly, we see this stuff happen quite a bit. That’s why we’re set up with transparency.

Here is how we handle maintenance:

• Tenants request all maintenance online and receive a response in 24 hrs or less.
• Get several bids on larger ticket jobs to get the best price
• Require owner permission above an agreed upon dollar amount. This is written in our agreement.
• Over years we have developed great relationships with trustworthy vendors.
• Use detailed reports for move in, renewal, and move out inspections along with high quality photos so you always know the condition of your property
• Monitor a 24/7 after hours phones for emergencies. This is for fires, flood, no water, no A/C, or plumbing issues. If the property or inhabitants are in danger, and we are unable to contact you, we will work on your behalf and send an emergency vendor.

We have a reputation of being easy to work with and paying our vendors quickly. The savings are always passed directly to you.

Rent Disbursements To Owner

Many new customers tell us how their old companies were inconsistent with disbursing their rent checks. To us, it’s unacceptable.

That’s why we’ve devised a system that guarantees you’re paid on or before the 15th of the month (as long as your tenant pays on time). This is attributed to our software and ability to clear checks quickly and efficiently.

• You’ll receive your rent on or before the 20th of the month.
• In most cases we can deposit the money right into your account. If you prefer mailed check, we can do that also.
• We make sure all rent checks are cleared so you don’t have to deal with bad check.

Management Fees

First off, we don’t charge you anything unless your property is rented. If you’re not making money, we aren't either. Our fees are structured based on several factors: amount of properties you have, their location, and their quality.

The different fees that are charged by property management companies are pretty standard:

• A monthly management fee
• A tenant placement, or “Acquisition Fee”
• A renewal fee - WE DON'T CHARGE!
• A maintenance coordination fee - WE DON'T CHARGE!

This is it, no hidden fees or expenses!

What are the actual fees?

Monthly Management: 10% of the monthly rent. This fee is reduced as property owners give us additional units to manage.

Tenant placement/Acquisition: this ranges from half to a full month’s rent. We look at the property’s location and rental amount to determine this. The idea is if you have a really high end rental, let’s say it brings in $2,000 a month, charging a full month’s rent would be unfair. The opposite holds true for lower end rentals.

Maintenance coordination: this is actually pretty nifty, we don't charge anything nor do we market any invoices. This saves you money. Seems strange, right? Our maintenance coordination fee (MCF) is 0%. As investors we understand that saving on expenses is key to cashflow and we never liked being "nickeled and dimed".

Renewal: it’s important to note that we don't charge anything here either. When a tenant is first placed, we charge an acquisition fee. Why don't we charge this fee? There are several reasons - the tenant is already in place, there isn't any marketing needed, and we do not have to research the tenant. At the end of their lease, if they decide to renew and stay, GREAT! We all win!

Eviction

The good news is that when we place a tenant it is a rare occasion that we have to evict a tenant. But, not surprisingly, this is the most asked question that we get. We try to find win/win scenarios to have the tenant leave without going through the eviction process to save you time and money.

Our eviction rate is under .1% per year, meaning it’s only a handful between all the cities we manage. In the rare case an eviction occurs, we handle the entire process for you. Many times, we hear new clients telling us stories of traveling to Florida just to handle an eviction and incur all the expenses with it.

• We handle all aspects of the eviction for you
• The cost is around $450, and not a dollar is profit for us
• Our partnered eviction company handles all legal aspects
• We meet the sheriff’s department at the property, and conduct a full inspection with pictures

 

Contact Us For More Information!

 

Investment Properties