A brief overview of the property management services we provide are described below.
All rental applicants complete an application form and pay an application fee. Before approving or disapproving an application, we run a credit, criminal and eviction reports.
Timely rent collection is essential to both your company and ours. Rent is due on the 1st, late on the 2nd, and subject to late charges. Legal proceedings to remove the tenant may begin as early as the 10th of the month, depending on the occupant’s history and the timing of holidays, weekends, etc.
All maintenance requests are directed to our office. The tenant is asked to check breakers, reset buttons, switches, etc. to solve the problem himself and / or to fully determine the nature of the problem. If this is not successful, the proper service person / company is sent to the property.
Service company bills are checked for correct service address, correct billing rate, etc. The bill is then approved for payment and is paid from rents collected. All costs to operate the property are paid by the owner, including repairs and maintenance, advertising, legal costs, etc.
Rental agreements and leases are negotiated with tenants and, when expedient, are compromised or otherwise modified. Occasionally, concessions to tenants may be deemed necessary in the interest of retention or to avoid losses.
Maddox Management, LLC will make mortgage payments if the property has a positive cash flow. If the property has a negative cash flow, we do not make mortgage payments.
Complete details regarding our Albuquerque property management services are provided in our Property Management Proposal.