Our Property Management Service

Loewen Clovis Realty Property ManagementLoewen Clovis Realty is dedicated to easing the burden of managing rental property.  We built this company around good property management service, and we believe we have the best property management program in Clovis.  Matthew Loewen, the owner of Loewen Clovis Realty, is also the active manager, and has been taking care of rental properties for over 8 years now.  He isn’t going anywhere, which means that you won’t have to worry about your property manager changing every several months, as happens in many other rental firms.

And in case you are wondering what our property management program includes, we do everything that is common for having a successful rental property.  Attached is a list of our services:
Property Management List of Services

We also have an extensive list of answers to some of the most common property management questions below.  If you are interested in what we can do for your rental properties, call us at 575.742.8488!

Frequently Asked Questions:

What Fees are Charged by Loewen Clovis Realty for Property Management?

We have a basic fee of 10% of the collected rent plus NM Gross-Receipts Tax.  If you have 5 or more properties, we will lower the commission to 8% of collected rent.  If rent is not being collected, Loewen Clovis Realty does not earn a commission.

In addition to these fees, the owner is responsible for the mortgage payment, if any, property taxes, insurance, basic homeowner associate dues, if any, the maintenance of the rental property, and for maintaining a minimum amount (owner’s reserve) in the owner’s account of $200 per property.

The owner reserve is an amount held by Loewen Clovis Realty in the owner’s account to cover incidental expenses such as maintenance. The reserve amount belongs to the owner and is replenished, as necessary, from in-coming rent or, if need be, by the owner. The reserve requirement applies only to the first five properties belonging to the same owner(s). The reserve requirement is waived for the sixth and subsequent properties belonging to the same owner(s) and coming under management by Loewen Clovis Realty.

What Does Our Property Management Service Include?

We handle about anything and everything that is incorporated in running an efficient rental.  Here is a list of our most common services:

  • Background Checks, Credit Reports, Rental & Employment History, and References on all prospective tenants.
  • Move-In, Move-Out, and Periodic Inspections of Rental Property.
  • Photographs and Inventory of Appliances in the Property.
  • State-of-the-Art website and property management software
  • Our property management software includes:
    • Ability for Tenant’s to Pay Online
    • Monthly and year end statements
    • Work order tracking
    • Tenant tracking and payments received
    • Varied reports available
    • All bills paid and vendor lists
    • Photos & Inventory of property
  • Vacancies are advertised on the Internet, newspapers, rental lists around housing offices, and “For Rent” signs on the property.
  • Negotiation and Signing of Leases.
  • Collection of Rent and Late Fees.
  • Complete compliance with Federal, State, and Local Laws.
  • Coordination of tenant eviction procedures, if necessary.
    • We have 100% successful results in necessary legal actions.
  • Posting Notices of Violation, when necessary.
  • Coordination of Maintenance Issues
    • Minimum reserve held for minor repairs and emergencies.
    • Owner approval required for repairs over minimum amount
    • Work Orders placed with qualified contractors
    • Work is inspected for quality performance
  • Monthly Statements provided by the 15th of each month.

What Needs to be Done to Prepare a Rental Home for Rent?

The condition of the rental home can make all the difference in the amount of rent that can be obtained for the property and the length of time it is on the market. Our goal is to obtain the highest rent possible while minimizing the time it takes to place a tenant.

The rental property should be in the best possible condition. It should be clean and appealing both inside and out.

If the home does not look like you cared for it, the prospective tenant probably won’t care for it either.

Some things to be aware of:

  • Painted surfaces should be clean and free of blemishes;
  • Flooring should be clean with particular attention to carpets, which should be professionally cleaned;
  • Any and all appliances should be clean and in good working condition;
  • Windows should be clean, operate easily, have screens, as necessary;
  • Blinds and drapes should be clean and in good condition with any hardware in good working condition;
  • Landscaping should be well tended and the yard picked up; and
  • Driveways and walkways should be in good condition and with as few stains as possible.

Loewen Clovis Realty will perform a detailed inspection of the rental property and have a discussion with the owner regarding issues that need to be addressed before putting the home on the market.

How is the Amount of Monthly Rent Determined?

As with nearly everything having to do with real estate, the value of a home is dependent upon its location.

To determine the approximate rental value of your property, we take several factors into consideration:

  1. Location and competition;
  2. Square footage of the home (includes heated living areas only);
  3. Number of bedrooms (master bedrooms on the main level of multi-story homes are a plus);
  4. Number of bathrooms and type, i.e., full bath, three-quarter bath (shower only) or half bath (no tub or shower);
  5. Number of garage spaces; and
  6. Landscaping (low maintenance landscaping with native plants and shrubbery is a plus).

There are other factors to be considered, too, such as:

  1. Does the rental home have fireplaces and, if so, how many and where are they located;
  2. Is the home cooled by an evaportive cooler or by refrigerated air;
  3. Are appliances furnished or available on request;
  4. Does the home have any patios, decks or balconies and, if so, are they covered or uncovered

How Does Loewen Clovis Realty Advertise their Rental Homes?

We put a “For Rent” sign at the property, but we also extensively advertise online.  We find that the higher the price range, the more likely a tenant will find our rental online, while the lower the price, the more likely they are to see the “For Rent” sign or an ad in the newspaper.

Our rentals are displayed on our website, as well as Trulia, Zillow, Craigslist, and many others.  We also input our rentals into the base housing database for incoming military.  On top of that, we submit our rentals in the Thrifty Nickel and Clovis News Journal where needed.

There is a good chance that prospective tenants will see your property for rent if you utilize us as your property management company!

 How Long Does it Take to Rent a Rental Property?

Generally speaking, it will take 6 to 10 showings of a rental home to attract the first application for tenancy. The “Law of Attraction” usually results in receiving subsequent applications for tenancy, if needed, in fewer showings.

However, aside from the rent being asked for the rental property and its overall condition, there is little else that can be done to improve the chances of renting the home quickly.

Obviously, we cannot relocate the home and it is not likely that adding more bedrooms, bathrooms or garage spaces would be cost effective. Therefore, keeping the property as attractive as possible and adjusting the asking rent are the only options available for attracting tenants quickly.

What Happens When Rent is Not Paid on Time?

All rents due after the move-in date are due and payable, in full, on the first day of every month.

If rent has not been paid by the close of business on the 3rd day of the month, the tenant is assessed a late fee of 10% of the gross amount of rent due and sent a demand notice to pay rent or surrender the property.

When collected, 50% of all late fees assessed the tenant are credited to the owner’s account.

When rent remains unpaid after the 5th of the month, the property manager will mail and, if possible, e-mail to the tenant a 3 Day Notice to Pay Rent or Surrender the Property. In addition, the property manager will attempt to make phone contact with the tenant and, should that attempt be unsuccessful, the property manager will post a copy of the demand notice on the front door of the property.

If the tenant has not paid rent by the deadline noted in the demand notice, Loewen Clovis Realty will take legal action to evict the tenant, whether or not the tenant has made payment arrangements acceptable to the owner and Loewen Clovis Realty. The cost of such action (approximately $100) is paid from the owner’s account, but charged to the tenant’s account. As a court hearing is rarely scheduled any sooner than 10 to 15 days after such action is taken, the tenant has more than sufficient time to pay the rent.

A Loewen Clovis Realty property manager will represent the owner at the court hearing and, if rent is not paid at the hearing or acceptable arrangements are not made to do so, the property manager will ask the court to grant a Writ of Restitution. The writ is usually effective within 3 to 7 days of the date of the hearing.

If on the effective date of the writ, the rent still remains unpaid or the tenant has not voluntarily surrendered the property, the property manager will engage the services of the county sheriff to evict the tenant.

Loewen Clovis Realty informs and consults with the owner at every step of the eviction process.

When are Funds Paid to the Owner from Collected Rent?

We pay all owners on or before the 15th of every month.  By law, Loewen Clovis Realty cannot send funds due the owner from collected rents until sufficient funds are available in the owner’s account to do so. Therefore, we must allow seven calendar days for deposit of rent checks to clear the appropriate financial institutions. To do otherwise would risk a negative balance in the owner’s account and being in violation of the law.

Loewen Clovis Realty uses a state-of-the-art, web-based property management software. All owners having Internet access and an e-mail address are provided access to this application through an owner specific Internet portal.  We also have the ability to direct deposit funds into an owner’s bank account in a way to expedite the payment process.

How are Normal Maintenance Repairs Handled?

Loewen Clovis Realty maintains a relationship with a wide variety of vendors providing maintenance and repair services. These vendors are selected based on their quality of work, competitive pricing, timeliness of response, and willingness to stand behind their work. As a result, Loewen Clovis Realty has the ability to assign work orders in a timely and cost efficient manner.

When possible and more expedient or less costly to do so than to engage the services of one of our vendors, Loewen Clovis Realty personnel will address the maintenance or repair issue.

Except in the case of an Emergency, the owner will be consulted prior to the authorization of any maintenance or repair work order having an estimated cost in excess of $200 or when the total of all maintenance and repair costs over the past 30 days for any one property is over $200.

In the case of an emergency repair, the owner will be notified as soon after the work was authorized as possible.