Wauwatosa Property Management
Let Us Manage Your Wauwatosa Rental PropertyRENU Property Management in Wauwatosa 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 Wauwatosa vacancies, screening applications, executing leases, processing rent payments, inspecting and maintaining properties, issuing account statements, and more. We care about your Wauwatosa 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 Wauwatosa
Market Analysis: We analyze comparable homes in the current Wauwatosa 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 Wauwatosa 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 Wauwatosa 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 Wauwatosa tenants must pass a comprehensive screening process. Our screening process in Wauwatosa 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 Wauwatosa . In addition to our knowledge of the Wauwatosa 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 Wauwatosa 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 Wauwatosa 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 Wauwatosa receive additional guidelines for care and use of a house, any HOA governing documents, and information about local utility companies.
Move-in Inspections: Each Wauwatosa 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 Wauwatosa is equipped to handle any maintenance needs, any time. Regardless of why maintenance is needed, RENU will dispatch our trusted Wauwatosa 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 Wauwatosa property in top condition. Happy renters and fewer repairs increase your revenue.
Standard Maintenance: Each RENU Property Management Wauwatosa 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 Wauwatosa 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 Wauwatosa property for the next lease.
Each RENU Property Management Wauwatosa 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 Wauwatosa 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 Wauwatosa 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 Wauwatosa 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.
Wauwatosa Area Information
Wauwatosa is a city in Milwaukee County, Wisconsin. The population was 46,396 at the 2010 census. Wauwatosa is located immediately west of Milwaukee, and is a part of the Milwaukee metropolitan area. It is named after the Potawatomi Chief Wauwataesie and the Potawatomi word for firefly.
The City of Wauwatosa consists of several distinct districts. East Tosa is a classic “Main Street” with an array of goods and services, located along North Avenue between Wauwatosa Avenue and 60th Street. East Tosa is now home to six murals, all within walking distance of each other, that are a part of NoMAD (North Avenue Mural Arts District). The Northwest Corridor is home to the industrial businesses and warehouses of Tosa. MidTown Tosa, along North Avenue from Menomonee River Parkway to Wauwatosa Avenue, is home to both commercial goods and services, and an urban residential neighborhood. The Village is the historic commercial heart of the city. With local and national shops, various restaurants, and century-old brick buildings, there is something for everyone in The Village.
The city is also home to the Wauwatosa Life Sciences District, which is comprised of the Milwaukee County Research Park, the Technology Innovation Center, the UWM Innovation Campus, and the Milwaukee Regional Medical Center. In addition to this concentration of medical and technical research and application, Wauwatosa is the home to Mayfair Road. Mayfair Road boasts both Mayfair Mall and Mayfair Collection, and also serves as a central location with access to Highway 45.
Wauwatosa contains Milwaukee County’s Regional Medical Center, which includes the Medical College of Wisconsin, the Children’s Hospital of Wisconsin, and Froedtert Hospital, one of two level-one trauma centers in the state. Other points of interest are the Annunciation Greek Orthodox Church designed by Frank Lloyd Wright; and the Memorial Center, built in 1957, which contains the public library, an auditorium, and the city hall. The Washington Highlands Historic District, a residential neighborhood designed in 1916 by renowned city planner Werner Hegemann, was added to the National Register of Historic Places in 1989, as was the Kneeland-Walker House. The Milwaukee County School of Agriculture and Domestic Economy Historic District, located on a former high school campus, was added in 1998. Other buildings on the list include Wauwatosa’s oldest house, the Lowell Damon House; the Thomas B. Hart House; and the Wauwatosa Woman’s Club Clubhouse.
In July 2019, the Tourism Commission of Wauwatosa sponsored the installation of several new murals by professional artists. The murals are curated by Milwaukee-based public arts agency Wallpapered City, and the artworks appear on buildings from 64th Street to 70th Street along North Avenue.
Wauwatosa is the home town of the narrator of an unrecorded song by Bob Dylan, “On, Wisconsin” (not to be confused with the University of Wisconsin fight song of the same name). The lyrics were written by Dylan in 1961 and finished in 2018 by local musician Trapper Schoepp. Schoepp wrote music to accompany Dylan’s lyrics and recorded the song at Wauwatosa’s Wire & Vice studio for his album Primetime Illusion.