PROPERTY MANAGEMENT

RENTAL APPLICATION GUIDELINES

  • FAIR HOUSING – Burnette Real Estate Sales & Management strictly abides by the Federal Fair Housing Act, Virginia Fair Housing Law and principles of equal opportunity. We open our doors to all, regardless of race, color, religion, national origin, ancestry, sex, marital status, source of income, physical or mental disability, familiar status, sexual orientation or gender identity/ expression.
  • IF YOU WISH TO SEE ONE OF OUR PROPERTIES – Foe security reasons, we always require either a credit card on file, or a fully completed rental application, before we schedule a property showing.
  • CONFIDENTIALITY – Your privacy is important to us. Please read our Privacy Policy on our website.
  • APPLICANTS – Each proposed occupant 18 years of age or older must complete a separate rental application. Our rental application processing fee is $30 per application, and must be submitted before we begin review of your application. This fee is non-refundable, and must be paid via cash or PayPal only. If paying cash, your application fees may be dropped off at our office at 200 Country Club Drive, Blacksburg, Virginia 24060. If you prefer to pay via PayPal, please email us at rentals@burnetterealtors.com and will send you an PayPal invoice. If there is more than one applicant (CO-TENANTS), your application scores will be blended to arrive at a decision. All blanks must be filled in. If something doesn’t apply to you, please enter “N/A” in the space provided.
  • FIRST COME/ FIRST SERVED – We process rental applications on a first- come, first- served basis. If we accept your application for processing, that means it will either be approved or declined. Your application either meets our criteria, or not. And our qualifying criteria can be found on our website, so you’ll know exactly how we will evaluate your application. Your application will not be accepted for processing, unless all required information is provided, including applications from co-tenants. The additional documents required (photo ID, proof of income) can be emailed to rentals@burnetterealtors.com or dropped off at our office at 200 Country Club Drive, Blacksburg, VA 24060. Application fees must be paid before we will accept your application for processing.
  • CREDIT CRITERIA – Burnette Real Estate Sales & Management will attempt to obtain a consumer credit report for each applicant. This report must be generated by Burnette Real Estate Sales & Management and not the applicant. In addition to a credit report, we also run a fraud search, eviction search, bad check search, national criminal database scan and driver’s license verification. We also may contact current and previous landlords, employers and references. If you currently owe unpaid utilities, or owe money to a former landlord, or have been evicted from a rental within the past 5 years, your application will be declined.
  • INCOME VERIFICATION – PROOF OF INCOME – Please provide us with copies of your last 2 paycheck stubs or a letter on company letterhead from your employer to verify income. This can be emailed to rentals@burnetterealtors.com or dropped off at our office. If you are self-employed, please provide a copy of last year’s income tax return and 2 months bank statements. Other income such as retirement, child support, etc. must have reliable documentation if you wish it to be considered. If your combined income (for all applicants) is less than 3 times the monthly rent, you will be required to pay a minimum of 2X the advertised security deposit on the property.
  • IDENTIFICATION – Photo identification is required. Please provide a copy of your driver’s license or government issued photo ID. This can be email to rentals@burnetterealtors.com or dropped off at our office.
  • SMOKING POLICY – All of our properties are non-smoking properties. No smoking of tobacco, herbal or other products is permitted inside of our rental units.
  • PETS – Most of our properties will consider pets on a case-by-case basis. The final decision as to whether to approve your pet is always the property owner’s. Your security deposit will be increase by $200 per pet.
  • RENT PRORATION – All rents are prorated to become due on the first of each month. Leases that commence after the 15th day of the month will require the full payment of both the first month’s rent prorated rent and the second month’s rent. Rent will be collected on leases that end after the first day of the month that will be prorated.
  • CRIMINAL HISTORY – We abide by principles of equal opportunity and welcome all responsible renters into our properties. If you have been convicted of a felony within the last 10 years involving drug manufacture or sales, or a violent crime (such as murder, rape, arson) your application will be declined. You have the right to appeal any decision we make in this regard, by providing additional information within 14 days of the day your application is declined.
  • FALSE INFORMATION – If any information provided on your application proves to be false or misleading, your application will be declined. If you have already entered into a rental agreement on a property when we discover that you’ve provided false information, you will be subject to immediate eviction from the premises.
  • HOW AND WHEN DO WE DECIDE – We process rental applications on a first-come, first- served basis. Until we have a complete application and all required documents we will not begin the application process. It usually takes no more than a day or two to process rental applications, once we have all the required documents. You can find our rating system that we use to score you on our website. Your application will be approved or declined and we will notify you of the outcome.
  • ONCE YOUR APPLICATION IS APPROVED – In order to secure your position as the approved tenant for the property, you must sign a lease agreement and pay the security deposit within 7 days of the day we notify you that your application has been approved. Should you fail to comply with these deadlines, the property will be offered to other qualified applicants.

 

Turn-Key Property Management

One of the first questions a new owner client will typically ask us is, “What is a turn-key property management option? What will that look like, in practice?”

Our property management services are bundled to provide a “full service” approach to managing your residential rental property. The program is designed specifically for the investment-minded property owner who understands the value of professional guidance in managing what is often his or her largest single investment.

Our clients have neither the time nor the desire to become expert property managers, nor do they have extensive knowledge of Virginia Landlord-Tenant law, state and federal fair housing laws, disclosure requirements, tenant screening practices, rent collection, maintenance coordination, and lease administration – all of which are required for successful management of residential property in Virginia.

When you contract with us to manage your rental property, you’re contracting with the best. Our company is well respected in this industry by owner-investors, renters, and our peers. There’s a good reason for that. Burnette Real Estate Sales & Management has decades of experience managing rental property for others.

As your property managers, Burnette Real Estate Sales & Management will handle all the day-to-day management of your rental property. If something needs repair, we’ll get it done without hesitation. Proper maintenance of your rental property is not optional. Neglected properties give rise to the horror stories we’ve all heard, about bad tenants! By attending to maintenance issues as they arise, we communicate the importance of proper care of the rental home, and the renters understand the same is expected of them. This environment of care typically results in long-term, reliable tenants. (Of course, if a repair is caused by tenant damage or misuse, we will bill the tenant for the cost.) Major repairs/replacements not requiring immediate attention will be bid out to at least 2 contractors, and discussed with you, prior to ordering the work.

Speaking of good tenants… we’ll select them for you, based on our objective screening criteria. When it comes to whether or not to allow a pet, you make the final decision. We’ll document the property’s condition at move-in, administer the lease throughout the tenancy, conduct periodic inspections, and manage the move-out process when the time comes.

You’ll hear from us monthly, when we make your ‘owner draw’ deposit to your bank, and send you a month-end operating statement. We’ll also contact you to give you a ‘heads up,’ if there are any upcoming move outs, or other foreseeable events that may interrupt your cash flow Additionally, you’ll have 24/7 access to your Owner Portal containing property documents, paid invoices, and both current and historical financial information on the property.

 

To summarize, we manage your residential property with both care and expertise, and always with your best interests in mind. 

 

SERVICES

  • Services Included in Full-Management Program
  • Initial property viewing to determine the home’s competitive status in today’s market
  • Market rent study; recommendations to Owner to improve property’s marketability
  • Design & placement of advertising, including Rently, Zillow, Trulia, Hotpads, and many other venues
  • Featured listing on our website, including link to multiple up-to-date property photos
  • Virtual tours
  • Minimum once weekly vacant property check
  • Handle rental inquiries; show vacant properties 7 days a week!
    (We utilize the latest technology by placing controlled-access lock boxes on vacant homes. This allows prospects to view your property at their convenience. A verified credit card is required from the prospect in advance, in order to view the home.)
  • Rental application processing (tenant screening) for all residents 18 years of age or older
  • Video lease document review for tenants, prior to signing. Electronic signature collection.
  • Collection of initial move-in monies (rent & security deposit via certified funds); future rents paid electronically
  • Thorough Move-in Condition Report w/photos, conducted prior to occupancy
  • On-call availability 24/7 for property and tenant emergencies
  • Monthly drive-by inspection of property
  • Annual interior and exterior inspection of home
  • Accounts payable/receivable processing monthly
  • Tenants have 24/7 access to a Portal where they can review their lease documents, pay rent, and submit repair requests
  • Monthly and annual financial reports to Owner
  • 24/7 online access to Owner documents and accounting reports through your “Owner Portal”
  • Owner disbursements made monthly
  • Monthly owner disbursements via Electronic Funds Transfer (EFT)
  •  Trust account for tenant security deposits
  • Arranging for routine maintenance
  • Owner consultation, as needed
  • Late notices to tenant, as needed
  • 1st phase of eviction action for non-payment of rent and/or lease violation, if required
    (We haven’t had a single eviction in over 5 years! This speaks volumes for our Tenant Selection Process.)
  • Move-out inspection and security deposit reconciliation when tenant vacates
  • Lease administration; renewal tracking
  • 1099 reporting and processing annually