Elm Grove Property Management
Let Us Manage Your Elm Grove Rental PropertyRENU Property Management in Elm Grove has the knowledge, experience, tools, and staff to thoroughly address every aspect of your investment portfolio. We take every measure to protect your asset and maximize the return on your investment. The intricacies of property management go well beyond collecting a rent check. We have implemented detailed processes for marketing Elm Grove vacancies, screening applications, executing leases, processing rent payments, inspecting and maintaining properties, issuing account statements, and more. We care about your Elm Grove property as if it were our own and will go the extra mile to exceed your expectations. Some of these extra mile services include: tenant move in and move out videos emailed to owner and tenant, automatic e-deposits for owners, and 24/7 online access to view every detail about your rentals.
The Benefits Of Working With RENU Property Management In Elm Grove
Market Analysis: We analyze comparable homes in the current Elm Grove market to ensure accurate rental pricing.
Property Condition: We walk the property to become familiar with condition and amenities. We make recommendations for the best implementation of improvements.
Online Marketing: We create a detailed Elm Grove property listing and distribute it online across a large network of rental websites to capture the largest audience possible.
Additional Marketing: We recognize that sometimes a different approach is beneficial for maximum exposure in a particular market. We will create traditional printed flyers or MLS listings for homes where the market calls for them. (An additional fee will apply for MLS advertising.)
On-site Information: Our “for rent” signs and supplemental pamphlets on-site direct prospective tenants to apply online 24/7 or to contact our office by phone, text, or online with any questions. Inquiries receive an immediate auto-reply and an additional personal response as soon as possible thereafter.
A reliable and long-term renter is worth their weight in gold. RENU focuses on renting your Elm Grove investment property to stable tenants who will take care of the property and pay the rent on time. In order to do this, all RENU Property Management Elm Grove tenants must pass a comprehensive screening process. Our screening process in Elm Grove results in fewer late payments and longer tenant retention. We adhere to Fair Housing practices and will not discriminate on the basis of race, color, religion, sex, handicap, familial status, or national origin. We WILL deny an applicant the basis of creditworthiness, monthly income, and/or rental history. Upon receipt of an application you can trust that we will:
Review the applicant’s ID: We look for matching name, date of birth, and address.
Run a credit report: We look for qualifying credit, no open bankruptcies, and for red flags such as unpaid utilities, debt to a previous landlord, or large collection balances.
Conduct a criminal background check: We review public records for any criminal history.
Check public records: We search for any past evictions or landlord-tenant disputes.
Verify employment: We obtain verification of current, local employment.
Verify monthly income: We review current paystubs for proof of qualifying income.
Verify landlord references: We ask for three years of rental history and contact previous landlords to inquire about payment history, length of tenancy, proper notice given, lease violations, rent amount, damages, and any other noteworthy concerns.
Setting fair prices for rental units requires an understanding of current market trends in Elm Grove . In addition to our knowledge of the Elm Grove area, we run a market analysis along with our review of the property to maximize your income in the shortest amount of time with the best tenants. Responding to tenant leads in real time allows us to obtain useful feedback and provide you with weekly updates on lead activity and responses. From there, we use our experience to adjust the listing or conditions at the property as necessary. Once an applicant is screened and approved, we execute an attorney-reviewed lease, collect and hold a tenant security deposit, and inspect the property. Our Elm Grove move-in inspection includes detailed photos of the property so that we can hold the tenant responsible for any changes in condition beyond normal wear and tear.
Lease Agreement: RENU Property Management in Elm Grove has a customized, attorney-approved lease agreement to govern the landlord-tenant relationship. The lease includes rules for creating a safe, peaceful living environment that protects the landlord’s and tenants’ rights as well as the welfare of the property.
Move-in Packets: New tenants in Elm Grove receive additional guidelines for care and use of a house, any HOA governing documents, and information about local utility companies.
Move-in Inspections: Each Elm Grove move-in is preceded by a thorough inspection. The interior/exterior inspection includes photos of each room and fixture and includes notes on condition or existing damages. This allows RENU Property Management to hold tenants accountable for any tenant-caused damage to the property at move-out.
Rent Collection: Our lease outlines a clear rent due date, late fee schedule, and eviction process for when tenants fall behind so that there are no surprises.
Property Care: The lease agreement also stipulates what the tenant is responsible for maintaining themselves so that those items are not neglected.
RENU Property Management in Elm Grove is equipped to handle any maintenance needs, any time. Regardless of why maintenance is needed, RENU will dispatch our trusted Elm Grove area contractors, coordinate with the tenants for property access, and handle invoicing on your behalf. Tenants have a fully integrated portal, allowing them to request maintenance servicing when it is needed. Emergency servicing systems ensure urgent matters are handled expediently, mitigating as much damage as possible. Routine property inspections enable RENU to identify issues before they worsen. We also have professional remodeling services to take care of repairs and refurbishments as required. We coordinate tenant requests, property access, obtaining estimates, and paying contractors on your behalf to make maintenance of any nature a smooth process. Continual maintenance keeps your Elm Grove property in top condition. Happy renters and fewer repairs increase your revenue.
Standard Maintenance: Each RENU Property Management Elm Grove tenant has a unique online Tenant Portal login where they can request maintenance. They provide contact information for scheduling, photos of the problem (optional), and an explanation for what the problem is.
Emergency Maintenance: We provide tenants with a 24/7 Maintenance Hotline to reach us whenever something goes wrong at their Elm Grove property. We screen requests, assess the nature of the request, dispatch emergencies immediately, and work to mitigate damages, keep repair costs low, and keep tenants happy. This system mitigates damages, keeps tenants happy, and reduces expenses.
Preventative Maintenance: Regular property inspections allow us to identify concerns before they become problems. We watch for interior and exterior needs, record and share any tenant-reported concerns, and monitor tenant care of the property.
Turnover Maintenance: Our thorough move-out inspection not only allows us to charge tenants for any damages, but it is also an opportunity for us to identify any capital investments which would increase the value of your Elm Grove property for the next lease.
Each RENU Property Management Elm Grove property owner receives access to an online Owner Portal. Around the clock access to your account information means that you can stay organized and informed from anywhere in the world with the click of a button. This online account includes 24/7 access to:
Monthly Statements: The current and historical account statements provide a record of rent income, management fees, and any other bills or expenses for that month.
Payment Disbursement History: We provide a transaction log showing the date and amount for every payment you receive via direct deposit.
Tax Documents: 1099 tax documents are sent out each January and a copy is saved in your portal for easy access.
Property Inspection Reports: The photos and comments from each Elm Grove property inspection are saved to your account for review.
Tenant Leases: A copy of each lease or lease renewal is available on your portal.
Management Documents: A copy of your RENU Property Management management agreement is saved on your account for your convenience.
Online Tenant Payments
RENU Property Management tenants in Elm Grove make all rent payments via our online Tenant Portal. The funds are then electronically deposited to the bank account of your choice. Online payments guarantee that no checks get lost in the mail and no time is lost waiting in line at the bank. This design streamlines payment processing to ensure that you receive your funds as quickly as possible. Payments are automatically tracked and recorded for accuracy. Monthly statements provide a breakdown of disbursements and any other account activity for your records.
Evictions & Collections
We do our best to protect your interests and place tenants who will fulfill their lease. Sometimes tenants still default on their lease agreement due to unforeseen circumstances. RENU Property Management in Elm Grove has the experience to navigate through complex situations while mitigating risk and complying with the law. We coordinate with our eviction and/or collection attorneys to move through the appropriate legal processes and recoup your funds as quickly as possible. If an eviction is necessary, we work to regain possession of the property and re-rent it as soon as possible. If a tenant moves out leaving damages behind, we have a collection process in place to hold them accountable thanks to our thorough move-in inspections.
RENU works with Investors to acquire and stabilize single family homes in multiple areas across the United States. We are the Industry Leaders in underwriting process and acquisition technology. The following RENU methods have helped investors successfully acquire over $2.9B in U.S. Residential Assets since 2009:
Proprietary Analytics Software
RENU Analytics is a software platform that takes direct data feeds from Multiple Listing Services, Tax Records, and Public Data. With this software we are able to accurately and efficiently underwrite over 20 Million Homes per day. Real-Time data combined with historical data is applied to a proprietary algorithm to surface the best assets for a specific investor every 60 seconds. Asset level expenses are used to capture exact yield potential in each market.
Corporate Underwriting Team
RENU’s Corporate Underwriting Team consists of 20 analysts that use the data generated from our analytics software to further analyze each property. Our Team performs benchmarking and underwriting analyses to provide opinions of value on real estate before we make a purchase. Analyses include reviewing municipal and HOA laws, construction budgets, embedded equity, home price appreciation models, and gross & net yields from cash flows. Once the property has been analyzed by the Corporate Team, it is sent to the local teams to validate.
Local Operations Team
Our local operations teams manage final underwriting, offer writing, contract negotiation, and transaction management. Underwriting integrity is preserved and locked into RENU Analytics. These teams are also able to provide significant off-market asset sale leads. The feedback we obtain from the local team rounds out the perfect real-time approach.
Construction Management – Rehab Management
RENU is able to make the rehab and construction process efficient through the use of technology and leveraging our local relationships. Rehab oversight is performed at the job site while further oversight and accountability measures are performed at the Corporate office.
Corporate Process Management
Operations, Treasury, and Acquisition responsibilities are all managed at the Corporate office. The technology we implement provides transparency throughout all stages of the process.
Elm Grove Area Information
Elm Grove is a village in eastern Waukesha County, Wisconsin. The population was 5,934 at the 2010 census. Elm Grove was named as America’s best suburb by Business Insider in October 2014.
Village of Elm Grove is widely considered a premier outer ring suburb where the natural beauty of sloping hills and forested properties creates a true urban-rural living experience only 15 minutes west of Milwaukee. The community is home to more than 5,900 residents, many of whom commit their time and talent to serve on the all-volunteer Village government standing committees and participate in highly active community organizations. Strong community involvement and engagement is what contributes to the Village’s unique character and charm.
Elm Grove government is headed by a village president and overseen by a board of trustees, the seven members of which are elected to two-year terms.
Twenty-first century residents of Elm Grove take pride in their community’s heritage yet remain concerned about its potential for business growth and development. Best of all, residents are willing to contribute to the village’s overall quality of life via a virtually unequaled collective volunteer spirit.
The village of tree-lined streets and expansive, well-maintained yards and gardens is a sanctuary for birds and other wildlife. Here business owners take time to know their customers and treat them like “family.” Here leisurely walks, neighborhood block parties and picnics at the park are not a thing of the past.
Volunteers can be found making a difference in every part of town as members of organizations such as the Elm Grove Woman’s Club, the Elm Grove Junior Guild, the Friends of the Elm Grove Library, the Elm Grove Citizen Police Academy Alumni Association, the Elm Grove Garden Club and the Golden K Kiwanis. Volunteers act, build sets and handle myriad other functions at Elm Grove’s own gem of a community theatre; Sunset Playhouse. Volunteers educate and help guide young lives with their involvement in school parent-teacher organizations and church groups. Some volunteers even take pride in helping “keep seniors off the streets” through programs at St. Mary’s Senior’s Club.
Our elected Village President and Board of Trustees members donate countless hours each year as do those who receive appointments to various village committees. Public safety-minded individuals are ready to assist at a moment’s notice as volunteer Fire Department/EMS volunteers.
The desire to retain a long-standing building – which many consider to be part of Elm Grove’s “heart and soul” – made front page headlines a few years ago. Local historians and community leaders, some of them descendants of early settlers, fought to preserve their heritage and “Save Old St. Mary’s” through a grassroots campaign. Thoughtful collaboration by S.O.S. members, St. Mary’s Parish, and local business owners, ultimately resulted in the renovation and re-use of the landmark old St. Mary’s Church as an architectural firm. That it remains standing at the same intersection – Juneau and Watertown Plank – where a certain horse once stood and refused to budge, seems altogether fitting.