Tenant Customer Service and Issue Resolution
There is a strong relationship between rental property profitability and the retention of responsible tenants. We minimize tenant turnover and its resulting leasing and vacancy expense by developing strong landlord tenant relationships based on expeditious response to tenant concerns and cheerful customer service.
Leasing Units and Processing Evictions
Our management fee is based on rental revenue actually received (not gross rent roll) so, we have a personal incentive to make sure your units are always rented and that rent collection is aggressively pursued. We operate on a strict policy that rent is due on the 1st and eviction notices go out on the 15th of the month. This policy actually minimizes the necessity to carry the eviction process to its conclusion. Tenants tend to prioritize the payment of their rent over other financial obligations once they understand how strictly we enforce our delinquent rent policies.
When it is necessary to completely follow through on an eviction action, we manage every step of the process. This may include hiring a lawyer to represent our clients in court. We take all necessary steps to ensure whenever a tenant is leaving due to either lease expiration or eviction that the unit is aggressively advertised to minimize lost revenue due to vacancy
Property Renovations and Construction
Due to the number of properties damaged as a result of years of civil conflict, many Liberians abroad need to refurbish their homes to either lease/rent or move back into, if returning to Liberia. They usually turn to family members to manage the renovations only to go through a disappointing process of misuse of funds and/or mismanagement of the project (See the cartoon on the right). Our goal is to ensure that our Liberian clients abroad have the comfort of knowing that their renovation, construction and/or land purchase projects are going smoothly and that the funds are actually being allocated appropriately (See the cartoon on the left).
Thus ReDen, Inc. has developed a specialized service to meet this need. We conduct a comprehensive assessment and execute the needed renovations as per our client’s specifications. Typically, renovations include complete replacement of all electrical wiring and plumbing. If the property is being prepared for international or UNMIL tenants, a water tower, well, generator house and secure security perimeter will have to be included in the renovations. We have competent team of masons, carpenters, electricians, plumbers, and other professionals that delivers high quality service to each project.
Property Maintenance and Improvements
There is a need for continuous up keep of the various properties we manage. Therefore, ReDen, Inc. provides its tenants with work order forms, which help to facilitate the maintenance and improvement of the property. We have a team of approved contractors to perform all necessary property maintenance. Using our local experience and expertise, we make recommendations to clients on improvements thereby enabling them to increase the value of their properties and possibly increase the return on their investment.
Bill Payment, Bookkeeping and Financial Reporting
At no extra cost, we will manage the paying of bills related to clients’ properties out of their rental revenue and provide our clients a quarterly income statement detailing their properties’ performance for the quarter. These reports, along with profit checks, are sent out on a quarterly basis, reflecting all previous month’s activities regarding the property on a cash basis.
We scrutinize bills for accuracy and handle the resolution of billing discrepancies. We also do an annual expense audit for our clients and look for ways to minimize expenses. Our books are professionally kept and at year’s end we deliver a financial statement for the year to our clients’ tax filing needs.
Real Estate Brokerage Services
ReDen, Inc. also acts as a broker assisting clients who have the potential to invest in others properties, as well as a liaison between the Diplomatic community/foreign guest and a property owner(s).
Sellers, buyers, lessors and lessees use our database of properties as a resource tool for locating properties and corresponding party to their real estate transactions.
Property Management Fees/Services Charges
Our fees are based on 15% of a client’s gross rent roll collected each month. A rent roll collection system ensures that you do not have to pay a fee based on rent that may or may not be collected each month. For example, unoccupied units will be exempt from rental fees until occupied.
Property Protection Services (PPS)
Property Protection covers a wide range of activities designed to legally establish ownership of disputed empty lots and neglected buildings and secure them going forward. The current deficiencies, limitations and corruption of the judicial system makes it very difficult and sometimes, seemly impossible task. It may involve a combination of activities such as:
• Removing of illegal or fraudulent cornerstones
• Hiring of approved squatters to “guard” property
• Pursuing legal options like injunctions, ejections and stay orders
• Conducting land re-surveys
• Building a perimeter fence