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Thank you for your interest in renting a home that is professionally managed by Advantage Property Management Services. Below you will find the instructions and criteria required when submitting a rental application. It is important that you read the information below prior to submitting an application to understand what is required for renting the property. If you have further questions, please contact one of our leasing agents at x2.
Q: General Application Information
A: Anyone 18 years of age or older must submit a rental application. When submitting an online rental application, you may complete the “Other Applicants and Adult Household Members” section, which allows separate applications to be submitted together.APMS can only approve complete Rental Applications. A complete application includes the online Rental Application form for all adults household members, proof of income documents, and the application fee. If you have a pet you must also submit the Pet Application through the third-party screening service we use. If your application is approvable, but not the approved one for the property for which you are applying, you may consider applying for our other available properties for 45 days without payment of an additional application fee. After 45 days you will be asked to submit a new Rental Application.All Applicants must see the interior of the property before an application will be processed. The property must be accepted in “AS-IS” condition before an application can be approved, except where there is written agreement for modifications or repairs. Any such modification or repair request must be in writing and included with your application under “Other Information – Any other information we should know?” If your maintenance and repair request is acceptable to APMS, then it will be acknowledged in writing. Verbal representations are non-binding. In the event that the manager receives two or more unrelated applications for the same property, the Applicant understands the Landlord may select the Applicant desiring the property in “AS IS” condition over another Applicant requesting maintenance or repairs (this does not apply if the request is related to accessibility accommodations).
Q: Application Processing and Time Frame
A: Most applications are processed in 2-3 business days. However, it can take longer. You can help speed up the process by putting your current employer and current and past Landlords on notice that we will be contacting them.No vacant rental property will be held for more than 14 days unless approved by the property owner. Negative findings may cause denial of an application; false documentation or failure to disclose information is grounds for denial of an application. We will send you a link so that you may monitor the progress of your application.
Q: Income Requirements
A: Basic Criteria: Gross household income of 3.5+ times the asking rent.Minimum Criteria: Gross household income between 2.5x – 3.49x the asking rent will be considered with an increased security deposit. Applications with gross household income below 2.5x the monthly rent will not be considered and should not apply. Income must be verifiable. Examples of income verification include, but are not limited to, pay stubs, employee records, income tax returns, social security documentation, and bank statements.
Q: Basic Criteria
A: Priority will be given to an Applicant who meets all of these Basic Criteria, is willing to sign a long-term lease, has no pets, and is willing to take possession the date the property is available for move-in. To be accepted at the advertised Security Deposit, an Application must meet ALL of the following criteria:Income: Gross household income of 3.5+ times the asking rent.Credit: 700+ credit scoreRental History: No evictions, unpaid balances to past Landlords, 2 or more late rental payments, foreclosures, bankruptcies, or non-medical collections.Criminal History: Within the last 7 years, no felonies for illegal manufacture or distribution of a controlled substance, or felonies resulting in bodily harm or intentional damage or destruction of property (for example “arson”). No sexual related offenses for any time period.Applicants who do not meet the Basic Criteria, but exceed the minimum criteria, are encouraged to apply and may be accepted with a higher security deposit.
Q: Credit Requirements:
A: Basic Criteria: Credit score of 700 or higher for each Applicant.Minimum Criteria: Credit score between 600-699 will be considered with an increased security deposit. Applicants with credit scores below 600 will not be considered and should not apply.
APMS obtains a credit report for all Applicants and does not accept copies of credit reports from Applicants.APMS accepts discharged bankruptcies if the prospective Tenant has re-established good credit.
Negative credit reports may be grounds for denial of an application.Due to credit reporting regulations, we cannot provide you with a copy of your credit report or discuss its contents with you. However, we can provide you with the name of the credit-reporting agency so you may request a copy from them. All information collected for the approval or denial of this application is considered confidential in nature and for company use only.
Q: Application Fee
A: A $45.00 application fee is required per Applicant, without exception, and is non-refundable. This fee offsets the costs incurred while processing an application. A $45.00 application fee for guarantors is required as well and is non-refundable. If you have a pet, a separate pet application fee will be due to the third-party pet screening service.
Q: Security Deposits & Risk Mitigation
A: The advertised security deposit is available to applicants that meet all the Basic Criteria and have no pets. Applications that do not meet the Basic Criteria are considered higher risk. APMS mitigates the increased risk by increasing the security deposit. Applications that do not meet the Basic Criteria, but exceed the Minimum Criteria, may be approved with a higher security deposit. If a pet is accepted, the security deposit will be increased by $500/pet.If an application is approved with a Guarantor, the security deposit will be increased to double the monthly rent. If the property is furnished or partially furnished, the security deposit will be increased by 1x the monthly rent.
Q: Rental History or Property Ownership
A: Basic Criteria: APMS requires a minimum of two (2) years of verifiable rental history, and/or homeownership.Minimum Criteria: we will consider applications without verifiable rental history or homeownership with an increased security deposit. An eviction in the last 10 years is grounds for denial. References must be verifiable and family references are unacceptable. Negative references can be grounds for denial of an application.
Q: Criminal Background
A: Applicants who have been charged with crimes should disclose all information. This information does not automatically disqualify Applicants. However, Applicants should not apply if, within the last 7 years, they have been convicted of any felonies related to the illegal manufacture or distribution of a controlled substance, or felonies resulting in bodily harm or intentional damage or destruction of property (for example “arson”). Applicants should not apply if they have been convicted of any sexual related offenses.
Q: Acceptance/Denial of an Application
A: All Applicants applying together must qualify; denial of one Applicant may result in the denial of all Applicants.APMS typically notifies Applicants of acceptance or denial within 3-5 business days of application, unless APMS cannot complete verifications. If more documentation is required, APMS will notify the Applicant. Submitting a rental application does not constitute an offer to rent or commitment of any kind. If an application is accepted, APMS will send the Applicant an “Offer to Rent” email. Applicants are required to adhere to the timelines outlined in the “Offer to Rent” email. You will be asked to provide the security deposit and the first month’s rent within 48 hours. Make sure your funds are available in advance. The security deposit and first months rent must be paid by cashier’s check or money order payable to “Advantage Property Management Services”.
Q: Multiple Applications
A: If we receive multiple applications we will process all applications for consideration as to what we (in our sole discretion) deem the best Applicant, which may not necessarily be the first application received. In such cases, more than one Applicant may be approvable. Because we represent the best interest of the property owner, we will accept the best application, which may not necessarily be the first application received. Applications remain active for 45 days and may be assigned to another property we have available for rent.APMS expends time and incurs cost in processing applications. Hence, our policy is that the application fee is non-refundable. If your application is approvable, but not the approved one for the property for which you are applying, you may consider applying for other available properties that we may have for 45 days without payment of an additional application fee.
Q: Ideal Applicants & How To Make Your Application More Attractive
A: Ideal Applicants will have qualifications that exceed the basic criteria, will sign a longer-term lease, will to move in on the advertised available date, and will not have any negative rental history, bankruptcies, evictions, or collections. Applicants can make their applications more attractive by providing required documents quickly, agree to a lease term longer than 12 months, and/or agree to move in on the advertised available date.
WE ARE PLEDGED TO THE LETTER AND SPIRIT OF THE U.S. POLICY FOR THE ACHIEVEMENT OF EQUAL HOUSING OPPORTUNITY THROUGHOUT THE NATION. WE ENCOURAGE AND SUPPORT A PROGRAM IN WHICH THERE ARE NO BARRIERS TO OBTAINING HOUSING BECAUSE OF RACE, COLOR, RELIGION, SEX, HANDICAP, FAMILIAL STATUS, OR NATIONAL ORIGIN.
Download “Making the Most of Your Rental Property” Ebook
Reading this will help you:
– Understand how to increase your profits and avoid common landlord pitfalls.
– Discover the value a property manager can bring and how to find tenants effectively.
– Learn how Landlords must hold escrow and how to handle maintenance and inspections properly.
– Understand how to command top dollar for your rental and earn a positive cash flow.
A: We specialize in residential single family homes, duplexes, tri-plexes, four-plexes and apartments under 50 units in Alameda County and Contra Costa County.
Q: What geographic areas do you cover?
A: Our property management service area includes all cities in Alameda County and Contra Costa County. In certain situations, we can also service properties in the South Bay or in Tracy/Mountain House.
Q: What type of Property Management experience do you offer?
A: Advantage Property Management Services (APMS) delivers a unique real estate investing experience to our clients. Unlike traditional property management companies who co-manage properties with you, APMS does ALL the work for you. If it’s related to your rental property, APMS will take care of it. Our clients love us because they can be a true real estate investor, not a landlord. The APMS owners have been investing and managing rental properties for more than 10 years. They understand the real estate investor mentality and will treat your rental property as if it were one of their own investment properties.
Q: Why should I hire you as my property manager?
A: Advantage Property Management Services (APMS) delivers a unique real estate investing experience to our clients. Unlike traditional property management companies who co-manage properties WITH you, APMS does all the work FOR you. If it’s related to your rental property, APMS will take care of it. Our clients love us because they can be a true real estate investor, not a landlord. Our services are superior to the outdated, traditional property management model. We have reviewed every component of the property management process and found ways to deliver better service and better results. The Why Choose Advantage Property Management page offers a short list of some key differentiators. Turning over your rental property to the care of a new property manager can be an emotional and frightening experience. You have to be able to trust your property manager so that you won’t be worrying about your property. The more research and information you gather, the better you will feel about your final decision. You should hire APMS only if you believe we are the best match for you. Frankly, we are not a perfect fit for every property owner, especially owners who want to be involved in the day-to-day management. Of course, we’d love the chance to earn your trust and manage your property, so please read on.
Q: How much will my house rent for?
A: We are asked this question more than any other by new owner prospects. The rental market is a competitive market with many variables that are constantly changing. Contact us and we will provide you with a free Rental Analysis. There is also some strategy behind choosing the right asking rent. We have found that asking above-market rent leads to higher vacancy periods and higher turnover. Both of these contribute to a smaller bottom-line. Asking market rate rent increases the chances of finding great tenants who want to stay in the property for a long time. Better tenants and lower vacancy will put more money in your pocket! Many owners who have purchased in the past 10 years and made a small down payment cannot lease the home for an amount that will cover the carrying costs, especially in newer neighborhoods. You also might not have enough equity to sell without bringing money to the closing table. If you are in this situation, you are not alone. Some of our new clients are “involuntary landlords”, forced into leasing their home by market conditions. The good news is, if you can ride out the market, you are likely to be much better off in a few years than if you sell your home now at a deeply discounted price. This in fact is why many out of state investors bought investment homes, expecting the long term gain to offset the short term cash flow loss. The most important thing to know is that the rental market is indifferent to your mortgage payment amount. The rental market does not care that you might have a negative cash flow, and will punish with extended vacancy owners who overprice their rental homes. When you hire us as your property manager, we will look at the rental market in your particular area, survey the competing homes, and make sure your home is priced so that it will be viewed favorably against the competition.
Q: What will you do to rent my house?
A: We give it maximum exposure, convert a high percentage of leads to showings, and showings to applications. We process applications carefully, but quickly, to rent your property as fast as possible. There are a few key differentiators that we have proven will rent your property faster.
INTERNET LISTINGS: Our available homes for rent are posted on dozens of for-rent websites, complete with high quality photos, maps and property details for the convenience of those searching for a new home. Our ad-copy is carefully crafted to provide critical information to prospects who only spend a few seconds reading ads.
PROFESSIONAL PHOTOGRAPHY: Prospective tenants are visual, often looking at the photos before reading the ad. It’s critical to have high quality photos to attract high quality tenants. Compare our photography to other companies. You’ll instantly see the difference and understand why we convert a huge percentage of page-views to showings.
VIDEO TOURS: When possible, we film and publish video tours of our rental properties. Photos are great, but it’s difficult to “feel” the flow of the house with still photos. Video tours give prospective tenants the ability to virtually walk-through your property and experience the floor plan and flow of the home. Our high-definition videography
INSTANT ONLINE SCHEDULING: When a prospective tenant wants to schedule a showing it’s important to make the process as easy as possible. Instead of playing phone tag with a leasing agent, APMS prospects can instantly schedule a showing online. Enabling prospects to instantly schedule a showing allows us to convert a higher percentage of inquiries to showings.
CORRECT PRICING: Even the best and nicest homes will not lease quickly if overpriced. We make sure your rental home is priced according to current market conditions.
THOROUGH PREPARATION: Even the best located and well-priced rental homes will not lease quickly if the rental home is not in top showing condition. Homes for rent in the East Bay absolutely must show well and have an attractive “curb appeal” or they may sit empty for extended periods. Part of our job as property manager is to make sure your rental home is presented in a clean and attractive condition so that it will attract a good tenant.
Q: What, specifically, do you do to qualify a tenant after they have applied to rent my house?
A: This is one of the most important aspects of successful property management, yet is filled with fair housing liability. To be compliant with the myriad of California and Federal Fair Housing Laws and ensure we only lease to qualified tenants, APMS has created a risk-based model for screening rental applications. Learn more at our Rental Criteria and Application Instructions page. We process applications carefully to ensure that only qualified applications with positive rental history occupy our properties. Our fee structure is designed to ensure that we do an excellent job at screening applications. Nobody screens their tenants as well as our property management team.
Q: How do you make sure the tenant is taking good care of my home while renting?
A: There are several ways we monitor the condition of your property during tenancy. Above all, careful tenant selection from the outset protects your property from being rented to irresponsible people. During the lease term, we may enter the property for repair or maintenance reasons and will use that opportunity to identify lease violations or other maintenance issues. If we are fortunate enough not to have any repairs or maintenance at your property over an extended period of time, your property manager will schedule a Safety Survey twice per year. During Safety Surveys a property manager tours the inside of the property, tests smoke and CO detectors, checks the furnace filter, and checks for unreported plumbing leaks. If any lease violations are identified during the Safety Survey they will be addressed with the tenant.
Q: What do you do if they are not taking care of my property as they should, or you discover unauthorized pets?
A: Your property manager gives the tenant an opportunity to correct the situation and usually the tenant will. If a problem persists, we will make a decision based on that specific situation. If an agreement cannot be reached then we have the option of evicting the tenant.
Q: What happens if the tenant does not pay their rent?
A: We make it so easy for tenants to pay their rent that it is unusual for them to pay late. Each day the rent is late the tenants receive an email from us reminding them to pay. If we still haven’t received rent by the ~7th day we post a 3 Day Notice To Pay or Quit. If the tenant does not respond to the notice, we will contact you to discuss the options before moving forward with an eviction. Whether or not the property manager eventually proceeds with a formal eviction depends on the specific circumstances. It is always financially better for all involved if a solution can be worked out. If the tenant has experienced a one-time event which is causing them a financial hardship, and we have had no previous problems with them, it is better for you and the tenant if we give them a chance to catch up, if there is reason to believe they can do so. If the tenant has demonstrated an ongoing pattern of late payments, broken promises about payments and/or evasiveness, we know from experience that eviction is the best course of action.Each case is unique and the property manager will make a decision based what is best for you and your home in the long run. That said, we proceed with the legal notices required for eviction regardless of any other factors.
Q: How informed will I be about what happens with my property?
A: Each month when rent is paid you will receive an email notification. If a tenant submits a maintenance request you will receive an instant email notification. Absent any special considerations unique to you or your property, our rule of thumb is this: If something may cause a potential interruption in your ordinary cash flow (loss of tenant or non-emergency repair in excess of the pre-authorized limit), we will let you know about it right away. Other than that, the saying “no news is good news” is most appropriate. We encourage you to contact the property manager anytime you have a question or wish to discuss something.Our system provides your 24/7/365 portal access to the status of your property. You can login from any Internet connected computer or device and see the status of rent payments, repairs, bills, etc.If you are a worrisome property owner or someone who desires a high degree of personal involvement with the property or who needs constant communication from the property manager, such as a phone call before any repairs are completed, we are not a good match for your needs. The property owners who appreciate us the most are those who truly want everything handled for them turn-key and don’t want to be bothered unless something important is happening. That is the type of property management service we offer. That being said, we are always available to talk about issues.
Q: How do you handle maintenance requests?
A: Tenants submit maintenance requests using an online form in the Tenant Portal. When a request is submitted, the system instantly notifies you via email. After we receive a maintenance request, the property manager may contact the tenant and ask them questions which will help us determine the exact nature of the problem before sending a service technician. We also make sure it is not something the tenant can fix themselves (ex: reset button on the disposal, tripped breaker) before your money is spent on a service call. After determining that it is a legitimate problem, we will send the appropriate service vendor to make the repair.
Q: Do you use the cheapest maintenance people you can find?
A: No. However, our goal is to deliver the best value to our clients. Our maintenance technicians are middle of the road in price and are competent and reliable. Our main “go-to” maintenance techs work on a time and materials basis, currently at a $65/hour labor rate (subject to change). Some repairs are billed on flat-rate or bid-price depending on the issue. Specialized vendors, such as HVAC, garage door repair, plumbers, electricians, roofers, etc range in price from $85/hour to $120/hour, and sometimes more for conditions such as an after-hours emergency sewer backup. We try to have our primary maintenance techs handle most of the multi-trade and make-ready tasks. This saves our owners a lot of money on multi-trade repairs by cutting down on the number of service calls to the property by different vendors. It also means that if we are called out on a dishwasher repair, we are going to be checking the furnace filter, sink drains, smoke alarms and general condition of the property ‘ something that a single trade vendor will not do for you.We think we have developed a very sensible approach to handling maintenance and repairs and that you will realize cost savings that other property managers simply can’t deliver.
Q: Do you hold some of my money for repairs? How much?
A: We will reserve some money in your account so that we may distribute funds to you earlier in the month.
Q: How do I know your property manager won't spend my money on large repairs without my approval?
A: This is a legitimate fear. We promise in writing not to do that. The Property Management Agreement includes a spending limit to protect you.Sometimes expenses such as a replacing a water heater, repairing a roof leak, or emergency furnace repairs are unavoidable. In emergencies where 1) the health or safety of a tenant is at risk, or 2) there is only one option to consider or 3) the property will incur damage if immediate action is not taken, the property manager will initiate the repair work even if it is higher than the pre-authorized spending limit, and then let you know of the situation and what we are doing about it.
Q: What if I want you to use my plumber, A/C company, etc?
A: If you would like to nominate a service company to be added to our preferred vendor list, they can contact us and we will interview them and let them know what documentation and references we need, what our invoicing and payment policy is, etc. We cannot guarantee, however, that your favorite company will be sent on all service calls to your home. Our concern is always to resolve repair problems in the most efficient way possible with the best available vendor at the time.Our professional reputation as property managers, both with tenants and owners, is largely, if not almost entirely, determined by the effectiveness with which we handle maintenance. We follow a practice that is most likely to insure the best possible response and resolution to maintenance and repair problems for your property.
Q: When do you distribute Owners funds and send statements?
A: Owner’s distributions are sent via ACH to your bank account on or about the 10-15th of each month. Statements are posted to the Owner’s Portal at the beginning of the next month.
Q: When will I receive with my monthly statements?
A: Monthly statements showing all income and expenses are published to the Owner Portal at the beginning of the following month. For example, March’s Owner Statement will be published at the beginning of April. All invoices/receipts are scanned and saved to the Owner Portal in real-time.
Q: How much is the leasing fee?
A: There is NO leasing fee under our full service property management program. If you are interested in leasing services only, the leasing-only fee ranges from $1,500-2,000 depending on the size of the property.
Q: Are your property management fees negotiable?
A: No. We don’t think price should be the determining factor in deciding which property manager you hire to manage your home. We don’t try to compete against lower priced property management companies or Realtors who practice property management as a side business. Frankly, we know you can find a cheaper property management company. Companies that offer low rates have to cut corners or limit service levels. We are not willing to compromise our service level to compete with the low cost providers out there. Our focus is on value — delivering the very best property management service at a fair price.The ultimate cost of using a property manager is determined by many things other than the fee charged. The efficiency and manner in which maintenance and tenant relationship problems are handled, how fast turnovers are completed, and the level of detail during the move-in/move-out are areas in which we excel. By simply turning properties faster we can put more money in your pocket and more than offset our management fees. We feel that our set of services, our systems, and the experience and expertise we offer are an excellent value at the fee structure we have established.
Q: Are there administrative fees or other service charges up and above the property management and leasing fees?
A: There are no administrative fees or start-up costs. We don’t charge for advertising, lease renewals, copies, long distance calls, mileage, or other incidentals. We don’t mark up maintenance costs or nickel and dime you with petty fees as do some property management companies. The only other expenses you could incur would be for services which fall outside the normal scope of our property management agreement (examples include attending HOA meetings, coordinating with the tenant for a refinance or property sale, or managing a capital improvement or restoration project).There are two exceptions to this. 1) If you are not a resident of California and cannot obtain a waiver from the CA Franchise Tax Board, we do charge a nominal administrative fee to manage the required withholding and file the quarterly form. 2) If you have a home warranty and we submit a claim through the home warranty provider we charge a nominal fee to manage the claims process.
Q: Does your property management agreement give you exclusive rights to sell my property?
A: >No, we are property manager’s not sales agents. We would be happy to refer you to an experience real estate broker who can assist with the sale. This is another trick that discount property managers use. They manage your home at little or no profit knowing they have you locked into an eventual sales listing. We think, at the time you decide to eventually sell, you should be free to decide who the best listing agent will be for your property given its location and characteristics. Most of our owners choose a full time sales agent to sell their home and we encourage them to do so in most instances.
Q: Is the Property Management Agreement a standard, widely used form?
A: Yes. We use the California Association of Realtors Property Management Agreement.
Q: How much security deposit do you charge the tenant?
A: As a general rule of thumb we collect 1.25 times the monthly rental amount for the security deposit. Based on an applicant’s qualifications we may increase the deposit to mitigate risk.
Q: Are you a licensed Property Manager?
A: We are licensed real estate brokers through the California Bureau of Real Estate. Our company’s license number is 01764298. Verify real estate licenses online at http://www2.dre.ca.gov/PublicASP/pplinfo.asp.
Q: How soon can you start managing my home?
A: We can start the process immediately. We will start by obtaining some information about you and your property. Contact us online or call us today at (925) 273-9865 x1.
Each of our properties has its own unique Pet Policy, which is specified in the advertisement. Before you schedule a showing or submit a rental application, review the property’s pet policy to ensure your pets comply.
Applicants with pets or service/companion/assistive animals are required to submit a pet application through a third-party pet screening service. There is a fee for the service (fee is waived for service/companion/assistive animals). The application is available here.
If a pet is allowed, the security deposit amount will increase by $500/pet and Tenant will pay a Pet Administration Fee (“Pet Fee”) of thirty dollars ($30.00) per month for the first pet and twenty dollars ($20.00) per month for any additional pets.
Even if a property allows dogs, the following dog breeds are never allowed: Akita, Alaskan Malamute, Boxer, Bull Mastiff, Canary Dog, Chow Chow, Doberman Pinscher, German Shepherd, Husky, Pit Bull, Rottweiler, and Wolf Hybrid. Applicants with these dog breeds as pets should not apply.
We appreciate your interest in our available homes for lease offered by XYZ PM. In order to qualify for one of our rental properties, you must submit a rental application. The rental application must be completed by each person age 18 years and older who will occupy the property. Applicants are required to complete the application in its entirety and submit all specified documents.
Leases are granted on a first-approved application basis. XYZ PM will process your application and notify you if you qualify to lease the desired property. Allow two business days for the rental application to be processed. If any additional information is needed a representative will contact you.
We perform a video taped move-in inspection at the start of a tenancy.
At around 90-days after the start of the tenancy, we perform an occupied inspection to check for issues like:
– Unsanitary conditions
– Excessive wear and tear
– Unauthorized occupants
– Unauthorized pets
We take photos to document. If there are issues, we schedule action and subsequent follow-up inspections. Assuming all is OK, the next interior inspection is an Annual Property Review in 6-months or 90-days prior to the end of the lease.
The Annual Property Review (APR) is a written report with photos performed by a licensed home inspection company. The APR goes beyond tenant lease compliance to inspect the major systems in the property (such as roof, plumbing, electric, heating and cooling, appliances, etc.). This is important report for our landlords. Owning an investment property is like owning a car – if you don’t maintain it properly, it will let you down. The licensed home inspector also performs our comprehensive safety inspection at the same time. We want your tenants to be safe in your property, and it benefits you as the landlord because it lowers your potential liability to personal injury claims.
At move-out, we perform another video taped move-out inspection. We bring this back to our office to compare it with the move-in so we can make informed decisions about tenant damages and cleaning responsibility.
