Let Us Manage Your Rental Homes
Rainey Realty, Inc. dba Rainey Property
Management specializes in managing single-family homes in the Central Arkansas
area. Rainey has been a trusted name in real estate since 1966.
Our Philosophy
We manage property a
little different than most managers. Instead of being the manager who makes all
the decisions for you, we believe we are your eyes and ears and we manage the
property with your input. For example, when we have applicants vetted and ready
for approval, we give you our educated opinion but then we ask if you believe
this is the right person for your property. When repairs are requested, we
consult you on how you want to approach the repairs. We use this same
philosophy on every aspect of property management. For decades, we have managed
thousands of properties for thousands of owners. We find every owner has unique
ideas on how they want their property handled. We try to handle things the way
you would want them handled.
For Sale or For Rent
In these uncertain economic times, we have a
lot of property owners come to us because they cannot sell their homes. We also
have lots of tenants who are scared to purchase homes because they have been
burned, especially in other markets. The result is we are leasing more beautiful
homes than ever before. So, we work with many owners to keep the house for sale
with their favorite Realtor while we market the home for rent. Sometimes it
sells. Sometimes it rents. We gladly cancel our agreement if you sell it. If we
rent it then you can test the market in a couple years if you decide it is time
to sell again. The only thing we do in
real estate is property management so we work well with fellow Realtors to take
care of your real estate needs.
Marketing of Your Property
Rainey has a strong marketing program to
attract prospective tenants. We implement all current available resources to
secure qualified tenants for our Owners as quickly as possible. Below are some
of the following resources we utilize: Yellow Pages; Yard Signs; Internet
Advertising through over 75 different websites including weekly postings on
Craigslist; Your property goes into the Multiple Listing Service; and optional
Newspaper Advertising when requested by the property owner. We have a low
vacancy rate because we price right, market well and then professionally handle
the inquiries and showings.
Qualifying the Tenant
One of the most important things we do is
place the proper tenant into your property. This is accomplished by a thorough
background check. This includes, but is not limited to the following: National
Criminal Background Search; Tenant background screening credit report,
furnished by a Trans Union; OFAC and USA Patriot ACT Compliance and Due
Diligence; National Sex Offender Background Check; Social Trace; Employment
Verification; and Past Rental History Verification. Once we have gathered all
the information, we present the facts to the property owner to make sure this
is the right tenant or do we need to keep marketing the property to find
someone more qualified.
Leasing
Upon acceptance of the tenant, we require the
tenant to sign the lease, pay the deposit and first month’s rent to take the
property off the market. Security deposits will be held in a non-interest
bearing Escrow Account. Our leases are annual leases and have been reviewed by
an attorney who specializes in Landlord/Tenant Law. Leases are continuously
updated to stay current with the changes in local and state laws. Tenant
responsibilities are clearly defined, giving us the ability to enforce lease
requirements.
Collection of Rents
Our collection of rents is a vital part of our
service to you. Rent is due on the 1st and late after the 5th
and we accept checks, money orders and credit cards. We charge the tenants a $5/day late fee after
the 5th (retroactive to the 1st) for our collection services. If the
tenant offers to pay by a certain date then we work with the owner to decide do
we want to work with this tenant or is it time to get
them to leave. Every owner’s needs are different so we consult with you. If it
is time to evict then we use the County Sheriff to serve the 10 day Notice to
Vacate. Using the Sheriff really gets the tenant’s attention. If the tenant
tries to pay after then the owner can decide if they want to rescind the eviction
or not. We have very few evictions because of our tough collection standards.
Owner Distributions
We pride ourselves on getting rent checks out
to our owners on the 10th, 15th and last day of the month
by direct deposit. Your deposit will be made at the next payout date after we
receive rent. We do not wait for tenant's checks to clear before issuing your
check. Any costs will be deducted and if you have work orders to be paid in the
current month then we will hold back enough to pay those repairs so you don’t
have to send us any money. Also, we believe in going green. You receive an
online account to see all your activity on the property.
Maintenance
Rainey is on call 24 hours a day, 7 days a
week. All maintenance emergencies are handled quickly and in a cost efficient
manner. Non-emergency maintenance requests must be made in writing or submitted
online to prevent frivolous requests. We consult the owner about the repairs to
make sure we understand what you want done. Rainey uses licensed and insured
repair people for the owner’s protection. Due to the high volume of properties
we handle, we can secure excellent rates from these vendors, which are passed
directly to our owners.
Inspections
We do inspections of the properties on a regular
basis to ensure tenants are complying with the Rental Agreement. We do
inspections at every turn over to document the condition of the property for
the new tenant and to decide the disposition of the security deposit from the
previous tenant. Many photos and a detailed report are available online for
your review. We do inspections on every property, regardless of turnover, to
make sure the tenant is taking care of the property.
Management Fees
We are a full service management company. Due
to our success over the years, we have been able to keep our fees low. We
handle the lease preparation, execution and renewals, but we do not charge any
leasing fees. We also do not require any maintenance deposits nor do we charge
anything above what the vendor charges us.
We charge 10% of the collected rent with a minimum of $75/month to
manage your property.
Let Us Manage Your Rental Homes!
Call (501) 221-8888 for more information!