Real Estate in Turkey - Reha Medin Global

PROPERTY MANAGEMENT

Real Estate in Istanbul Turkey - Reha Medin Global

PROPERTY MANAGEMENT

Property Management Guideline
 

1. Market the property for rent

a. Preparation of the property for rent
        i. House cleaning and interior optimization for appeal
b. Marketing material preparation and publishing advertisements on various media
c. Dedicating responsible operators within call center for questions, enquiries, and view requests
d. Dedicating responsible agents in the field to meet prospective tenants for viewing
e. Collecting applications with application fee

 

2. Tenant screening and selection

a. Performing a legal background check to verify:
        i. Identity
        ii. Income
        iii. Credit history
        iv. Rental history
b. Evaluating tenant according to pre-defined criteria and admission of tenant, if eligible

 

3. Tenant move in

a. Preparing leasing agreement 
b. Confirmation of move in details with tenant
c. Reviewing lease guidelines with tenant regarding payment terms and property maintenance 
d. Inspection of the property with tenant prior to move in and signing of the report verifying the condition of the property as leased to the tenant.
e. Collect first month’s rent and security deposit

 

4. Rent collection

a. Receiving payments for rent
b. Making sure tenant sticks to payment schedule
c. Sending out pay or quit notices
d. Enforcing late fees

 

5. Legal advisory

a. Handling all legal disputes or litigations with attorney at law business partners

 

6. Inspections and Oversight

a. Performing inspections on a scheduled regular basis, agreed upon with the tenant regarding repair requiremens, safety hazards, violations, etc. 
b. Issuing periodic reports regarding the state of the property to the owner

 

7. Financial

a. Accounting services for the owner on the property 
b. Making payments on behalf of owner (mortgage, insurance, taxes, etc.) 
c. Reporting the record of expenses to the owner 
d. Keeping all means of records for tax purposes and providing annual financial reports with taxation documents
e. Advisory for tax deductions

 

8. Maintenance, repairs, and remodeling

a. Assume and undertake all maintenance and repairs with dedicated full-time servicemen 
b. Advisory for renovation to increase market value of the property 
c. Provide detailed cost of renovation and market value projection to the owner 
d. Assume and undertake all renovation processes confirmed by the property owner

 

9. Tenant move out

a. Full inspection of the property prior to move out 
b. Prepare detailed report on the condition of the property and provide to tenant 
c. Confirm the deductions from the security deposit based on the condition of the property as indicated on the report
d. Return the security deposit, or make pay requests to tenant based on the total repairs and reperations costs 
e. Undertake all required repairs and cleaning of the property
f. Change the locks 
g. Re-marketing of the property


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