Aborn Propenies. An Introduction. Contents. .:. Company Philosophy and History.:. Properly Management Services.:. Real Estate Services.:.

Transcription

1 Aborn Propenies An Introduction Contents.:. Company Philosophy and History.:. Properly Management Services.:. Real Estate Services.:. References

2 Page 2 Our PhilOSOphv Abom Propenles Our purpose is to make Real Estate investment as profitable and troublefree as possible for our clients. We keep properties rented, at a current market rate, to tenants who care about and understand the responsibilities of maintaining a property. Our tenants know what is expected of them; we provide firm and courteous enforcement of tenancy rules, as well as reliable and businesslike collection of rent. Real estate is an excellent long-term investment provided that the purchase price and timing are appropriate for the particular client's financial picture. In order for the investment to maximize, it must be properly maintained, rented to qualified tenants who value where they live and are willing to aid in maintenance, as well as being able to pay a reasonable rent for the neighborhood. Keeping the rental price competitive allows the owner/manager to select from a wider variety of applicants. Tenant selection is essential to good cash flow in the short term and overall property value in the long term. Once the basic criteria of income credit history and good references are met, it is important to determine if the applicant intends to be long term and is reasonably able to meet that commitment. We have a tremendous amount of experience with tenant selection. Our experience is that long-term tenancy is in the owner's best interest unless there is a particular need on the part of the owner for a shorter period of tenancy. Often the greatest amount of wear and tear to a property arises from tenants moving in or out. Property maintenance is both a tenant and owner responsibility. The tenants should keep the property and grounds neat and clean and the owners should make necessary repairs to plumbing, electrical, etc. whenever necessary.

3 (408) Paue3 Our Historv Aborn Properties has provided quality residential property management services, throughout the Santa Clara Valley, for more than 20 years. We have grown from one home to over $30 million in assets under management. Our clients live as close to their properties as next door, and as far away as Japan, Pakistan, and Greece. Some of our clients have been with us since our inception, seventeen years ago. Often new clients are referrals from people who have done business with us, either as owner or tenant, in the past. Clients have recommended Aborn Properties to their parents, children and siblings. X;" We currently manage properties for multiple ~"" generations of the same family. Gary and Donna Walker, the company founders, began buying investment property in 1971, they then went on to offer property management, and general real estate assistance to others. Mr. Walker continues to actively manage the company. Gary is a real estate Broker with more than 25 years, experience including: property management, sales, exchanges and lease options. We specialize in providing worry-free property management for our clients. We handle all emergencies, and are available 24-hours a day, 365 days a year. We pledge to act, with our owners, to achieve the maximum possible benefit from their investment property. We also act closely with our tenants so they can assist us in maximizing property values. Some of our tenants have lived in several different residences we manage, because they appreciate the respect and fair service we give them.

4 PaU84 Aborn Propanles ProperIJ Management Services Services With the understanding that individual needs will vary, the terms of particular management agreements will be changed accordingly. Following is a list of services provided: We do our best to re-rent a property before the present tenant moves out. not like vacancies any more than do owners! We do A. Advertising and showing the property 1. We advertise in the San Jose Mercury News. 2. We maintain a 24-hour advertising line. 3. We utilize the fee agencies (fees charged to renters). 4. We show the property to prospective tenants. B. Screening prospective tenants 1. Prospective tenants submit a completed application, preferably after viewmg the property. 2. Credit checks are performed, including a search for previous Unlawful Detainer (Eviction) actions. 3. Applicants' income and employment history are confirmed directly with employers. 4. We interview the applicant's previous landlords when possible. C. Implementing tenant selection 1. When more than one good applicant is available, the owner will be contacted and assist in the selection. 2. We execute a legally binding lease covering any additional terms as deemed appropnate. 3. A security deposit is collected to protect the owner. 4. The first month's rent is collected prior to occupancy. 5. We conduct a complete walk-through with the tenant prior to move-in. We take pictures thought the property and the tenant signs a Statement of Condltlon, acknowledging the condition of the property at the time of move-in. D. Rent Collection - we are firm and fair 1. Rent is due on the first day of each month. 2. After the 5th, a late charge is assessed (about 5%) 3. A "3 Day Notice to Payor Quit" is served if the rent has not been received by the 7th, and tenants are assessed a $25 Service Fee. This Notice usually results in rent being brought current.

5 (408) Paue 5 PropertY Management SelViees (eonl) E. Maintenance, Repairs and Cleaning 1. We use licensed, bonded workmen, thereby' lessening owner's liability. Repairs are made as soon as possible. Major repairs must nave owner's prior approval before any work IS begun. F. Inspections 1. We do a complete "Statement of Condition" with photos at movein. 2. We do an interior inspection at least once yearly, the first within 6 months of move-in. Results are shared with the owner. 3. We do random, unannounced drive-bys of the property. 4. After a tenant moves out we inspect the property and compare it's condition with the condition at move-in. Any deviations determine the basis for possible deductions from the Security Deposit. G. Record keeping and Administration 1. Monthly, by the 7th, we send complete statements to the owner, itemizing all income and any expenses. 2. We can perform full debt servicing if you wish, paying any expenses related to the property Including mortgage, taxes, and homeowner's dues. 3. Copies of invoices for all work performed are enclosed with the financial statements. 4. We maintain a reserve fund for any emergency repairs. H. Fees Our fees are fair and competitive. The Leasing fee covers our costs of finding and selecting a qualified, reliable tenant. It is $350, plus the actual advertising costs. Should a tenant move out in less than 9 months, we will re-rent the unit at no additional charge to the owner. No leasing fee is charged for transferring your property to Aborn Properties if your rental is currently occupied or under management by another firm. The management fee is /0 of the gross monthly rent collected, and is specified in the Property Management Contract. The percentage calculation comes from the rent amount of the specific property. It covers all costs associated with timely rent collection and processing, debt servicing, communications with tenants on your behalf, and any crisis management.

6 PaU88 Real Estate Services Aborn Properties can handle all of your Real Estate needs, with more than 20 years experience in the Santa Clara Valley. ( Real Estate Listing and Selling Our years of experience here gives us great knowledge of neighborhoods, the market situation, applicable rules and the best ways to advertise and list or sell your property. We can work with you to make the process fast and smooth. Exchange Services We are experienced with 1031 Exchanges and other recommendations to limit tax liability, though we can not offer tax or legal advice, we can make recommendations for other experts in those fields. We can also assist you in identifying other income-improving assets in which you might exchange. Refinancing We have complete experience with refinancing assistance. can provide any supporting documentation for the new lender as needed; as well as provide access for appraisers. We Referral If a new job or retirement takes you out of the Valley we can refer you to a new Sales Agent, Listing Agent or Property Manager in your target destination. We have a large network of agents available with expertise throughout the States. Property Management Services Full details of our property management services available on the previous pages.

7 Abom Properties Pagel Nancy DeLara San Francisco, CA (415) (Current client, since 1987, 3 properties under management) Jon and Bernadette Bohanon Heber City, UT (435) (Current client since 2001) Sharman Noguchi Assistant Vice President Senior Asset Manager Union Bank of California (415) (Current client, 3properties for bank managed trust assets) Doug and Pat Schleppegrell Morgan Hill, CA (408) (Current client, Manage 2properties since 1997, and 3 additional properties for other members of the family.) Lonnie Truj iiio Alameda, CA (510) (Current client since 1997) Christy Barney San Jose, CA (408) (Current client, since 2000) Jane O'Callahan San Jose, CA (408) (Current client since 2008, Retired Real Estate Broker, personal properties managed) Doris Ebert San Jose, CA (408) (Current Client since 1997, 3 properties managed) Ablrn Properties 2660 John Montgomery Dr. #1 San Jose, CA Phone: (408) / Fax: (408) propertymgr@abornproperties.com

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