Rental Home Management
We specializes in residential property management. Regardless of how many rental homes you own, our strategy is designed to save you money at every stage of the process, so our property management service pays for itself.
We relieve the stress and interruptions that come with property management for homeowners who have a single property investment, multi-family or multiple properties. In addition, many of those who have invested in real estate rental homes and began by self-managing their property turn to Norman Investments, LLC to save time and avoid hassles.
With changes in home ownership behavior and more homes “For Rent” than ever before, more investors trust us to manage their portfolio of rental properties. We understand the needs of investors, large and small, and have the knowledge and expertise to make managing your portfolio easier. We have the experience to simplify everything for you with one reliable and cost-effective management program.
Norman Investments, LLC makes every effort to keep you informed about your property. By providing you updated on property activity, including vacancies, leasing, maintenance, inspections. We are here to answer your questions and work with you to get the best return on your investment.
Comprehensive Marketing & Advertising
For each day your property is vacant, that’s money out of your pocket. Professional management costs are easily offset by shorter vacancy times. Your property is advertised on high traffic rental and classified websites. A professional “For Rent” yard sign adds exposure to capture drive-by prospective tenants. We respond promptly to inquiries and advise prospective tenants on details about the property, and show your home in the best possible light.
Maintenance is a necessary expense in owning a rental property, and the return on your investment can be significantly impacted without timely, cost-effective repairs and upkeep. When handled by us, you’ll save time and money and ensure repairs are completed in a professional manner. We have sub-contractors, vendors to handle property maintenance and repair work.
Remember, tenants pay down your investment property mortgage, pay your taxes and maintenance costs plus help you build your asset’s value. Treating them with the respect they deserve and responding to their perception of receiving the service they are paying for will cement longer term renter relationships and positive word of mouth that helps you gain trust and grow as a successful residential rental investor.
So property management may be DIY, or hiring a professional management company like Norman Investments … either way, it’s the tenants’ experience that will deliver the least stress on landlords and the maximum ROI for residential rental investors.
Our Clients … Landlords and Residential Rental Property Investors
As your property managers, we serve residential property owners in the management of their rental properties. We refer to tenants as our clients’ customers.
As customers, our job is to fulfill tenants’ expectations to have a peaceful, safe place to live with a minimum of interruptions to the basic comforts anticipated as a renter. When the inevitable disruptions occur, how the property manager deals with the issues is what will be remembered by the renter and defines tenant/owner relations as well as the reputation of the landlord.
While people like to have their problems fixed, what they most want is to be seen and to be cared about. Of course this must be balanced with the bottom-line expectations of the investor.
So at Norman Investments, we deliver successful property management based on simple math: Add value to your assets, then subtract unnecessary expenses.
Adding value to your assets includes the application of “people skills” that represent a substantial role in tenant retention. That’s especially critical when you have a tenant who pays on time and is not overly demanding. Fewer turnovers translate into less expense and enhanced profitability.
Our clients, landlords, profit from our tenant-centric culture to engage our property management and contractors with a shared value to do the right thing when responding to tenant complaints and maintenance. That does not mean giving in to each and every renter’s demands. It does mean starting with an attempt to understand and respect tenants as real people with real concerns for their home.
Strict and Compliant Evictions
Even with careful placement there is occasionally a tenant who needs to be evicted. If the tenant does not pay rent on time or breaches the terms of the lease, we initiate the proper legal steps necessary, in the fastest possible time frame, to minimize your costs and get the property leased again.
Timely Rent Collection
Nothing affects your cash flow more than late or missing rent payments. We collect the rent every month and deposit it into your account expeditiously. Our collection processes are professional but tough, and we are extremely diligent in collecting rent through a timely process.
Tenants are offered a variety of ways to pay rent so you can get your money as quickly as possible. In addition, we treat each tenant respectfully and fairly, as a positive relationship with a tenant leads to timely rent payments as well as better care for your property.
Thorough Tenant Screening & Selection
Placing the wrong tenant can quickly cost you what you save by managing a property yourself. Every tenant application is evaluated based on credit, criminal background, employment verification and residency/rental history. Our thorough screening complies with all applicable laws, including Fair Housing and Fair Credit Reporting Act.
When we have found a qualified tenant we schedule lease signing and a move-in condition assessment with the approved tenant.
Visual inspections of your property both inside and out are beneficial to ensure tenants are complying with the terms of their lease and to assess property conditions.
We conduct move-in, periodic, and move-out inspections. Documentation and photographs from these inspections assist in determining needed maintenance and repairs to maintain your home’s value and avoid costly repairs if left unattended.
Assessing market rent amount
Coordinating the advertising for the property for rent
Showing property to potential tenants
Screening potential tenants
Collecting security deposit
Performing move-in inspection
Coordinating routine maintenance issues while property is vacant (cleaning, lawn maintenance, etc.)
Full Service Management:
Notifying tenants with a pay or quit notice when they are late
Assessing and collecting late fees
Receiving maintenance requests from tenants and dispatching professional, reliable, and fairly-priced subcontractors
Performing regular inspections as well as move-out inspections
Reconciling security deposits
Strategic long-term planning including recommendations for long-term maintenance issues, potential rent increases, etc.
Lease Renewal Services:
Reassessing market rent
Reaching out to tenant to negotiate the renewal
Procuring a signed renewal letter or in some cases, a new lease
We manage the lease signing with the approved tenant, using our professionally prepared lease, and ensures that all proper contracts are executed correctly. At the same time, rents, deposits and any fees are collected.
Finally, the leasing agent and approved tenant conduct a walk-through to document conditions. This important walk-through assists in accurately assessing any changes in conditions when the tenant moves out.
Post Office Box 6, Gum Spring VA 23065
(804) 339-6529 direct
(804) 309-4172 e-Fax
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