Part I     OVERVIEW

MyHomeSpot.com specializes in residential sales and rental management only.   Our firm has helped many hundreds of people like you realize strong financial rewards in the lucrative field of investment properties.  We are experts in our field.  We have grown from managing several dozen homes to managing hundreds, and we still give each client and each property the individual attention and care that makes us unique.

The following section explains the many benefits and advantages of a full service, professional property management company.

1. We present your property to the largest available rental market.

2. We are always aware of current market conditions. This allows us to rent your property at its highest value.

3. Our computer system enables us to maintain an exhaustive list of all the features that make your property desirable and special.

4. We minimize your rent loss by advertising a vacant property in the local newspapers, at the Naval Housing Referral Offices, through the Association of REALTORS Multiple Listing Service, and on our several web sites on the Internet.

5. We use a broad range of advertising media, including signs, flyers, newspaper classifieds and the Internet.

6. We share our vacancy listings with other Real Estate offices. We pay a referral fee promptly to agents who show and rent our homes.

Our main job is to protect your investment property. We do this in two different ways. Our property managers make frequent driving tours by the various properties we manage. Exterior inspections are very important, because a property that is well maintained on the outside is normally being taken care of on the inside, too. In addition, we make regular preventive maintenance inspections of the interior of the property.

1. We lease only to qualified, responsible tenants.

2. We are experienced in judging credit worthiness.

3. We do a thorough credit and reference check before the lease is signed. This includes checking credit history with the credit bureau, verifying employment, checking all appropriate references including past landlords, and an eviction history.

4. We take time with each new tenant to explain the benefits and responsibilities of leasing a home from us.

5. We provide you with protection through the use of proper lease agreements, deposit forms, late notices, and other legal documents.

6. We take fair and appropriate security deposits.

1. Our comprehensive screening procedures assure you of desirable tenants.
2. We maintain and update an inventory of all the personal items that are part of your property.
3. We constantly perform spot checks and announced routine inspections.
4. Our key-control procedures protect you and the tenant against unauthorized entry.

1. We provide qualified, reasonably priced personnel who will get the job done right.

2. We are maintenance experts. Since we deal with this daily, we know what repairs should cost and how long they will take to complete.

3. Because of the large volume of work we give local firms, we have the necessary recourse to correct poor performance.

4. We help avoid costly repairs through routine preventive maintenance inspections.

5. We protect the value of your investment by maintaining your property at current neighborhood standards.

1. We do all the bookkeeping chores for you. Our computer system keeps complete, accurate records of every income and expense that affects your property.

2. Our convenient monthly statements provide you with a full, itemized record of all transactions.

3. Our end-of-year statements simplify the job of tax preparations for you and your accountant.

4. Because we are computerized, we can meet your individual needs, including budgeting, itemized summaries for tax preparation, and other unique services.

1. We have a large pool of willing, potential investors, including other property owners and our tenants. This will be a great help if you find you must quickly dispose of a property for tax purposes.

2. We keep abreast of current market conditions and active investors at all times. We share this information by phone, letter and newsletters.

3. We can help you spot undervalued properties, often with a mortgage payment lower than the rent, for an immediate positive cash flow.

4. Our extensive resources let us help you select an investment property that will meet your exact goals of the highest possible return and tax advantages.

This Section Explains The Policies And Procedures We Have Implemented To Protect Your Property Investment And To Provide You With The Best Possible Service.

Insurance
In addition to your normal home-owners Fire and Extended Coverage insurance policy, we require you to maintain an "Owner, Landlord and Tenant" (OL&T) liability policy as well. This coverage protects the tenant, you, and us against a wide range of losses caused by unintentional hazards or unsafe conditions on your property. In addition, MyHomeSpot.com must be listed as a co-insured on your liability policy, with minimum limits of $100,000.00.

We must have proof of insurance coverage before we can manage your property. If you do not currently have OL&T coverage, we can arrange to purchase a competitively-priced policy for you. We will also recommend strongly to the tenant to have renters insurance to protect their belongings in case of catastrophe.

Mortgage Payments
If you wish, we can make the mortgage payment on your property for you. This additional service is offered free of charge. We require you to maintain, at all times, one month's mortgage payment in the escrow account. Mortgage Payments will be deducted from the account on the first of the month. This is not contingent on the tenant's rent payment. If there are insufficient funds in your account, Florida law prohibits us from making the payments.

Accounting Services
We pride ourselves on our thorough, accurate record keeping. Our computer system allows us to provide services that would be difficult or impossible with a conventional manual accounting system.

1. Every transaction affecting your account balance is recorded and explained in detail. Accounting is done on single-entry cash basis with a separate income and expense ledger maintained for each property--just as if your property had its own checking account. If we manage more than one property for you, we open another income and expense ledger in your name (in addition to the property ledgers). This enables us to transfer funds among your properties without intermixing accounting transactions from different properties. Each property always has its own separate and complete accounting records.

2. Copies of all work orders and receipts are kept on file throughout the year. Duplicated receipts may be included with your monthly statement at an additional charge.

3. In addition to the monthly statements described in the next section, we also provide a complete summary of account at the end of the year. These show you a summary of all transactions by specific accounting code. These statements have been specially designed to simplify the year-end tax preparation job for you or your accountant. Our computer system enables us to get this vital information to you immediately at the end of the year.

4. As required by Internal Revenue Service regulations, we prepare and submit a 1099 MISC form showing the total gross rent income that we collected on your behalf during the year. A copy of this form will be sent with your year-end statement.

Rent Collection
All rent is due on the 1st of each month and is considered late if received after the 3^rd of the month. Late notices are sent on the 6th and removal proceedings are initiated if the tenant does not make immediate arrangements for rent payment. Late rents are subject to additional costs by the tenant which MyHomeSpot.com will retain. 

Monthly Statements
Our computer system enables us to provide you with a concise, accurate, and understandable statement of account. Plus, it allows us to get your statement and any rent proceeds out to you quickly. Statements are normally sent on the 15^th day of the month. Occasionally, a statement will be held for a few extra days because of a late rent payment in order that we may send you your full monthly rent proceeds.

Your statement will include a check for any funds due you above your minimum balance, unless the amount due is less than $1.00.  Accounts that fall more than $1.00 below the minimum balance will be invoiced with the statement. This invoice is due and payable upon receipt. If payment is not received by the end of the calendar month, your account may be assessed a late fee and interest for the loan extended to you.  Your prompt payment is appreciated.

We will be happy to answer any questions you have about your account. Please report any discrepancies you find within 15 days from the time you receive your statement.

Management Fees
Our monthly management fee is payable when the rent payment is received. It is automatically deducted from your account at the time the rent payment is posted.   However, since one of our jobs is keeping your property occupied, we will not take our management fee as long as your property remains vacant.

Vacancies
Vacancies are expensive for both of us. We make every effort to keep our vacancies to a minimum. We are members of the local rental association within our Association of REALTORS. We maintain an extensive computer database of the features that make your property special. This enables us to quickly produce an attractive listing of your property to be given to prospective tenants and local leasing personnel. We are also members of the National Association of Residential Property Managers.

KEY POINTS:

1. Our computer system enables us to monitor our lease expiration dates carefully. We never allow our leases to lapse into an automatic month-to-month extension unless there are extenuating circumstances. This also gives us the opportunity to renegotiate the rent on a renewal lease. Approximately 45 days before a tenant's Lease Agreement is due to expire we send a Lease Renewal Notice. This notice explains our lease renewal procedures and the necessary rent increase. If the new lease is declined, the tenant is required to give us 30 days prior written notice. This prevents unexpected vacancies and gives us adequate time to prepare the property and to advertise and show it. It also helps prevent needless loss of revenue. If the tenant opts to go month-to-month, there is an automatic 10% increase in the rent.

2. If a tenant chooses to vacate, the property must pass a thorough check-out inspection before the tenant is released from the Lease Agreement and the security deposit is returned. This minimizes the preparation and turn-around time before your property is re-leased. The inspection will not be made until the tenant has removed all furnishings and other personal belongings, and the tenant is not allowed to re-enter the property once the inspection is complete.

3. Vacancies are advertised weekly until rented. We use all available media including the local newspapers, Naval Housing Referral Office, signs, our many web pages on the Internet and fliers. We maintain a standing copy change advertising contract with the newspaper.

4. We maintain careful control of your property while it is vacant. Only one key for a showing is issued at a time. Leasing agents must be a licensed real estate agent and present a business card to sign out a key. All prospective tenants must be accompanied to the house by an agent. We do not give keys out to prospective tenant's.  Access if further granted and controlled using a computerized lock box system.

Leasing
We want responsible tenants just as much as you do. We pride ourselves on the quality of tenants we are able to attract. Our extensive tenant screening and lease procedures help to ensure this.

KEY POINTS

1. Applicants are required to complete a Rental Application and to provide credit information and references. We are members of TransUnion. We were one of the first property management firms in the area to be on-line with the Credit Bureau. A credit check is made of every prospective tenant. In addition, we report to the bureau the tenant's rental account and payment history. We explain to all applicants that prompt rent payments will help maintain their good credit rating. If an otherwise acceptable tenant does not have a local credit file with the bureau, we open one for him. As members of the TransUnion system, we are able to access credit files worldwide.

2. The security deposit is taken only after the application has been approved. This is an act of good faith on the tenant’s part, and should the tenant not move into the rental unit, the deposit is forfeited to you as liquidated damages.

3. Once a tenant’s Rental Application has been approved, an appointment is made with the property manager to sign the actual Lease Agreement and proceed to a lease closing. We have found that this extra personal attention to the tenant's needs greatly reduces misunderstandings and eliminates many potential problems. Also, this gives us a chance to answer any questions and to carefully explain the tenant's responsibilities as well as our company's policies and procedures.

4. Before your property is released to the tenant, we make a thorough move in inspection, using the Property Condition Report. This is done in the presence of the tenant. We find this helps develop a good working relationship with the new tenant. At the same time, it gives us one more chance to encourage our tenants to take pride in their new home.

5. We require our owners to maintain the home in as good a condition as if they were living there. This includes interior and exterior painting, tree trimming and upkeep of the appliances.

Security Deposits
As an additional protection, appropriate security deposits are always collected upon approval of a Rental Application by a prospective tenant. The amount of deposit is based on the monthly rental rate. We suggest $50.00 less than the rent. The reasoning is that if the deposit is the same as the rent, some tenants have a tendency to try and use it as the last months rent. Under no circumstances will we allow the deposit to be used as rent.

All security deposits are kept in a special escrow trust checking account, as required by the Florida Real Estate Commission regulations, until they are either refunded to the tenant upon the successful check out inspection of your property or are forfeited to cover damages caused by lease violations.

We maintain two deposit escrow accounts. Both are non-interest bearing. The first account is used for the collection of rent and other owner funds, the second is for the security and pet deposits. 

Property Inspections
Our main job is to protect your investment property. We do this in two different ways. Our property manager makes frequent driving tours by the various properties we manage. Exterior inspections are very important, because a property that is well maintained on the outside is normally being taken care of on the inside, too. In addition, we make regular preventive maintenance inspections of the interior of the property during the vacancy or renewal period.

KEY POINTS:

1. The right for us to make routine, announced inspections is part of the tenant's Lease Agreement. Tenants are notified in writing of a pending property inspection. The inspection is done with the tenant present.

2. Tenant's who are doing a good job receive a letter congratulating them. Those who are not, receive an Inspection Failure Report listing the conditions that must be corrected within 10 days. If not, we begin making the corrections at the tenant's expense.

Repair and Maintenance Service
Timely, competent maintenance is the key to protecting your investment. Our goal is to provide you with this important service at a reasonable price using only the best, qualified personnel.

In addition, it is our aim to prevent major repair bills. We accomplish this through constant supervision, routine inspections, regularly scheduled maintenance, and by selecting those tenants who will take pride in their leased home.

All our repair and maintenance services are performed by independent, outside vendors and contractors.

KEY POINTS:

1. Our maintenance responsibilities are defined in detail by the Property Management contract.

2. You may reserve the right to schedule and control all, or a particular part of, the repair or maintenance responsibilities if you desire.

3. We require that a minimum balance of $200.00 be kept in your account with us to cover repairs. We use these funds to pay the vendors upon completion of the job. We have found that they are more responsive to our calls because of this fast payment record.

4. Before any work is performed, the job request is reviewed. The job is assigned and a work order issued after the request has been approved by the property manager. Our maintenance personnel will not perform unauthorized jobs requested by a tenant. In addition, requests for maintenance work that is the tenant's responsibility, or for repairs caused by tenant negligence, will be charged to the tenant.

5. We ensure the quality of the work performed by making spot checks and follow-up inspections. You are further protected because each job is fully documented in writing and backed with receipts by our comprehensive work order accounting system.

6. Routine repair and maintenance will be performed as needed in our judgment and will be based on urgency and importance. For any major job (cost in excess of $500 or the greater of 1/2 the monthly rent), we will obtain written estimates from two different companies and notify you before we proceed.

Equal Housing Opportunity
The Company always adheres to the Supreme Court decision of 1966 in the case of Jones VS Mayer and all Federal, State and Local laws and regulations whereby any person, regardless of race, creed, color, age, sex, religion, national origin, has the right to choose where he wishes to live and the homeowner, in accordance with the decision, cannot discriminate.

It is the policy to NEVER discriminate against color, religion, sex, national origin, family status or handicap.  This policy is to be strictly adhered to and any client making insinuations, gestures or verbal requests must be informed about the Fair Housing Act and the Civil Rights Act of 1968.  The client or customer must withdraw the request to discriminate or you will be required to withdraw from any future relationship.  In the event you feel you, your client or customer have been discriminated against please notify the broker immediately for proper action.  Additionally, this office will not tolerate any practices of "redlining, steering or block-busting".   If you  desire any additional clarifications on these practices and definitions, contact the Office of Equal Opportunity, under the direction of the Secretary, Dept. of Housing and Urban Development. 

PART IV    THE CONTRACTS

  
PART V    TYPICAL PROCESSING Preparing Your Home

It is essential that your home be in absolute move-in condition prior to the showing and marketing of the property.  It has been proven time and again that those homes in the best condition rent faster, for more money and attract better tenants.  By leaving the home in less than clean and maintained condition tells the tenant you do not care for the property.  If you give this message to a tenant, ask yourself, why should the tenant care for a home you are unwilling too. 

It is additionally important that we certify the present condition of the property so the return condition can be controlled.  For this reason, we require that you have your property's carpet professionally cleaned and give us the invoice.  If you prefer, we can arrange this service for you.  The reason is that we will then require the tenant to do the same upon their vacating of the property.  Upon our initial visit to setup your account, the leasing coordinator will complete an "Initial Condition Statement" certifying the properties condition and deficiencies.

After recent local litigation, we have adopted a policy to require that all owners re-key the property each time the property is leased.  You are required to take appropriate precautions for the tenant's safety and preventing unauthorized access is a small part of this.  Once your property has been leased, we will hire a locksmith to re-key the entire property at your expense.  Our office will then retain (2) copies with strict security for future inspections and access.  A few dollars invested at the initial origination will make owning investment property easier and more profitable.

Entering into Contract
Our firm must have a written agreement to begin management of your property.  These forms are available via email, fax, direct mail or an office appointment.  After you complete a copy, we will then setup your account according to the instructions of our agreement.  All of this data is inserted into our computer system so each rental office and manager may have access to your account specifics.  We believe that our management system is better than any other company if you will give us the opportunity to prove it.   Now that the contract is complete, we can begin the marketing services. 

Marketing Services
This starts with our many offices, the nationally recognized franchise affiliation, as well as our great reputation for results.  Your property will be marketed using the most basic to the most sophisticated methods available.  Immediately a yard sign and lockbox will be installed.  Then, the unit features and other specifics will be loaded into the area Multiple Listing Service, websites and interoffice inventory records.  Multi-media advertising may also be used in local newspapers, military housing offices, magazines, websites and much more focused on attracting a qualified tenant to your property. 

Accounting Cycles
All rents are completely processed within 3 business days upon receipt.  The timely payment of your rental funds is extremely important to us.  You should read thoroughly this entire manual to understand our processes.  The accounting person is extremely busy during from the first day of the month until the eighth day for obvious reasons.  No calls are taken by the accountant during these days.  We ask that you leave a message with a detailed request so your call may be returned within one business day.  All accounting phone calls will be returned between the hours of 2:00 and 5:00pm no later than the next business day.  If you can email your inquiry, you may receive a faster response.  Again, the policy is only in effect from the 1^st through the 15^th.  After these dates, the telephone lines are open and you may feel free to discuss any concern or question.

Your questions can be answered by your property manager.  Please remember that they have viewing privileges to your account history and status.  Questions related to when, if, how your tenant paid, invoice charges, lease expiration and deposit refunds should first be directed to your property manager.  Any change in your contact or banking information may also be directed to the manager.  Thank you for making our goal of timely payment easier.

Management Reporting
Each month, our processing center will prepare your Management Income and Expense Statement.  If you receive your payment electronically using our E-Pay system, your statement is sent the same day the transaction is initiated.  If your payment is delivered by printed check, a brief statement is printed on the actual check and your statement will be enclosed.  The management statement can be easily customized according to your preferences.  Most owners will receive a unit detail section explaining the date, memo and category of all transactions for the month.  The balance line will show your maintenance reserve amount and a unit summary will total the category of your transactions.  If there are any unpaid bills or open work orders, those will print at the bottom of the page.  A tenant summary is available to keep you informed to any unpaid balance of the tenant.  You will agree, our management statements are easier to read due to large print, clearly defined sections and quality of information delivered. 

PART VI     FREQUENTLY ASKED QUESTIONS

1. How long does it take to lease my property?
At MYHOMESPOT.COM Property Management, the estimated time to lease your home is less than 30 days.  This is because we begin marketing your rental home the moment it becomes rent ready, or as soon as the current residents give us their 30 day notice of their intent to move out. We average numerous prospective tenant calls each week and we can show your rentals seven days a week.

In addition to our attractive yard signs, we also immediately place your rental property into our many World Wide Web sites! All advertising costs are the expense of MYHOMESPOT.COM Property Management. We are the premier leasing/management company in Northwest Florida!

2. When you find residents for my rental home, how do you qualify them?
We strive to provide you with the most qualified and responsible of residents that you want living in your rental property. This includes:

1. A complete national credit report on each adult resident.

2. An Escambia County court search to see if the applicants have ever been evicted in the past 7 years.

3. Verification from their former landlords.

4. Verification of their employment.

In addition to the normal financial qualifications, we always try to accommodate the housing needs of our residents to ensure that the home they rent is convenient to their work, shopping and desired school district. This will help to ensure that they will remain happy residents and remain longer in your rental property. At MYHOMESPOT.COM Property Management, we believe that responsible residents are worth waiting for!

3. How quickly do you process the rents and statements to owners?
We pride ourselves on quick turnaround of your rents and statements. We generally process the rents and statements three business days after receipt of the rent. Our multiple property owners can expect that we will process their rents no later than the 15th of each month. Florida law requires that we not disburse funds until we know that they have cleared the Bank.

4. How often and how are the property inspections conducted?

1. An initial inspection is performed upon signing this agreement.

2. When your property is vacant, we generally inspect it each week.

3. The next inspection is done prior to the residents moving in. This is known as the "move in" inspection, where we detail the condition of your property on our move-in inspection form.

4. We inspect the exterior of our properties on a frequent basis and we also conduct interior inspections upon each lease renewal, vacancy or if we determine that checking the property out is warranted.
   Within 90 days after the residents move in, we contact the residents to ensure that all is well with your property and your residents.

5. When the residents move out of your property we do another detailed inspection known as the "move out" inspection. The move our inspection is done to ensure that the residents return the rental home back to us in the same condition as when they first rented it. If damage is found, then we impose a claim on the Tenants security deposit as required by the Florida Landlord/Tenant Laws, (F.S. 83), if no damage is found, then we promptly return the security deposit to the former residents.

5. What if I want to sell my property, can you help?

YES!  MyHomeSpot.com can sell your property. For information on how we can help sell your property, please call Glenn Dorsey, our department director toll free at (888) 536-8419.   Glenn will arrange for a Free Home Sale Analysis.  Since we know the homes intimately, due to our association, we are the most capable of marketing and selling your home.

6. How are rental collections handled?

Our collections policies are as follows:

1. All rents are due on the 1st day of each month and late on the 5th day of each month.

2. All residents who have not paid by the 3rd of each month receive our first notice, a friendly reminder, placing them on notice. We also attempt to reach them by phone.

3. Any remaining residents who have not remitted their rents by the 6th (or 7th, if the 6th is on a weekend) will be served between the 7th and the 9th with the legal prerequisite paperwork to file an eviction against them, should they fail to remit the rents due.

NOTE: All of the above items are included at no additional cost to you as a service provided by MYHOMESPOT.COM Property Management.

While it is doubtful that an eviction will ever be necessary, as we at MYHOMESPOT.COM Property Management carefully screen all prospective tenants, occasionally financial hardships do arise requiring our prompt collections attention.

Should it be necessary to file an eviction; or, if you have a tenant who needs to be evicted when you sign on with our company, we then perform the following steps:

All paperwork, (including, but not limited to) copies of the lease, and our notices served upon the resident are forwarded to The Clerk of The Court on the 15th of the month, (or sooner if you request) to proceed immediately in filing the eviction action.  To save our property owners from additional losses, we do not use an attorney for simple evictions. Most evictions are settled with the resident paying all costs and remaining in the property, however, should it be necessary to proceed further, we stand ready to assist you and your property.

7. How do you guarantee the statement “Tenant Pays On Time, Every Time”?

If you have paid MyHomeSpot.com a “Leasing Fee” for finding a qualified tenant, MYHOMESPOT.COM will not only replace that tenant at no cost to you if the tenant is evicted, but MYHOMESPOT.COM will also waive any management fee due should that tenant ever pay their rent late!  That’s right – the tenant pays rent on time (5^th day of the month) or you do not pay a management fee.  It’s just that simple of guarantee.  Offer is does not apply to HUD leases, properties under $500 per month or any for any discounted fee management.

8. Do you guarantee the residents that you place in my rental home?

YES, we provide our property management customers with the following guarantee:

1. Should any tenants that we place into your rental home move out and break their lease (for any reason) during the first 6 months of their lease, we will waive our normal leasing fee and re-rent your home to new tenants FOR FREE!

2. Should any tenants that we place into your rental home move out and break their lease after the first 6 months of their lease, we will reduce by pro-rating our normal leasing fee to you.

At MYHOMESPOT.COM Property Management, you will never pay two full leasing fees in the same 12 month period! Additionally, we always pay for the cost of advertising (unless you instruct us to lease a property for a 7 month period).

Probably not. It seems there is a new property management company starting out every day, trying to beat everyone else's prices. Our fees are very competitive and we certainly are not the most expensive. On the other hand, we charge a fair fee for a tremendous service.

No other residential property management company in our area offers all of our combined services including;

1. Developing personal relationships with our customers.
2. Full time, experienced property managers.
3. Our extremely careful tenant selection process.
4. Our leasing fee/tenant guarantee.
5. Our fast rent processing policy.
6. We show properties and are open 7 days a week.

When all fees are considered, for benefits received, we are actually less expensive than most companies.  In property management, you get what you pay for.

We are on call to handle late night calls from our residents 24 hours a day.  Many times we solve problems right over the phone avoiding what might have been an additional maintenance expense.

11. Are there any limitations to the type/amount of repairs that can be performed?

The Florida law requires licensed professionals in the construction trades to perform relevant repairs on rental properties unless the repairs can be made under $1,000 and are not a life/safety concern.  This means we are required to use an actual plumbing, electrical contractor, not a general handyman, when necessary.   Additionally, you should understand that when MYHOMESPOT.COM acts as your agent, Florida law provides that we must contract for repairs, maintenance, remodeling or improvement of the Property with a certified or registered contractor when labor and materials together do not exceed $5,000.

12. What legal actions will you take on my behalf?
The state law requires that we can take all the initial legal actions in your behalf related to the collection of rents and termination of a lease for non-compliance with the lease terms.  Our firm will complete all the paperwork, arrange for the delivery and posting of the required notices and submit all evidence required.  However, we can only perform an eviction for an uncontested eviction related to nonpayment.  If your tenant contests the eviction or you elect to terminate the lease for a breach related to the tenant use or action, this petition must be handled by an attorney. 

13. If a tenant skips, what collection actions does MYHOMESPOT.COM take?
As you know, MYHOMESPOT.COM provides a "leasing guarantee" to every tenant we place.  If for some reason or the other a tenant does not perform according to the contract's financial obligation, we can take additional collection action in your behalf.  The collection services are provided by a reputable third party agency that has a proven track record for collecting these type of accounts.  This matter will be pursued through aggressive letters, derogatory reports to the credit bureaus and in some cases, a lawsuit when necessary. MYHOMESPOT.COM is one of the few companies to offer these services.

14. Why should I choose MYHOMESPOT.COM Property Management?
In a word, "Experience". Our customers know that "Our people make the difference". We believe that the key to our success is in the personal relationships that we have developed with our customers. Your leasing consultant, your property manager, your account, your manager's assistant, and the president of the company, are here to serve you and your residents. At MYHOMESPOT.COM Property Management, you are the boss and we will work to earn your trust.

If you have a residential rental property in Northwest Florida area, there is no better choice for your investment and peace of mind, than MyHomeSpot.com’s Property Management.

PART VII     PROPERTY OWNERS EXPECTATIONS

What You Can Expect From MyHomeSpot.com Property Management

The purpose of this section is to present the benefits our property owners can expect to receive from MYHOMESPOT.COM Property Management. In establishing a personal relationship with our customers, it is important that each party understands exactly what is expected of the other. Our primary objective is to attain the goals and objectives of our customers and their rental properties.

We believe that by familiarizing you with the administrative process of how we lease and manage your rental property, we can avoid surprises that could occur later on. It is important that you realize that we will move forward with our administrative property management process as outlined herein, unless you otherwise direct us in writing. Therefore it is to your benefit to review and understand the following services that are automatically provided and instituted by MYHOMESPOT.COM Property Management for the benefit of you and your property.

The following is an outline of some of these benefits and services that you as our customer can expect us to automatically provide and institute on your behalf:

Leasing

1. You can expect that we will place our attractive "Home For Rent" yard sign on your property, (if allowed) at least two weeks prior to any known vacancy, or immediately if you have just listed your rental home with us. In addition we will use a lock box for ease of showing.

2. You can expect that we will place your vacant property in our many web sites, as well as the local multiple listing service.

3. You can expect that we may place your vacant property in the local newspaper, if we deem it necessary. Note: All advertising costs are included as a service of MYHOMESPOT.COM Property Management.

4. You can expect that our agents will schedule showings of your property 7 days a week to all prospective renters until your rental home is leased.

Your can expect that all rental applicants will be subjected to:

1. A credit report on each adult rental applicant.

2. An eviction search of the Escambia County public records to ensure that the applicant has not been evicted in the preceding 7 years.

3. A verification of applicant's former landlord's references.

4. A verification of the applicant's employment or income.

You can expect that we will lease your property at the asking amount of rent, (as outlined in your management agreement with us) or higher. You can expect that we will not lease your property at a lower amount, without first obtaining your permission.

You can expect that once the rental applicant process is approved, we will complete and execute the lease agreement and give the residents possession of your rental home.

You can expect that we will conduct a "Move-In" property inspection and complete our detailed property inspection data sheets of your property.

You can expect to be notified by our company that your property has been leased. A copy of the lease agreement will be sent to you, once all parties have properly executed it and the residents have taken possession.

1. You can expect that we will attempt to renew the residents lease at least 45 days prior to the expiration of their lease agreement.

2. Your can expect that we will renew the tenants lease for another year at the same or at a slightly higher amount of rent, if possible. We will not renew the lease at a lower amount, without your specific permission to do so.

3. You can expect that we will place our home for rent sign and begin showing the property for lease as outlined in the leasing section above, in the event that the current tenants are not renewing their lease.

4. You can expect that we will renew the residents lease agreement, or re-rent the property to new residents, unless we have a written directive from you not to renew the lease or re-rent the property.

You can expect that we will conduct the following property inspections on your property:

1. When your property is vacant, we inspect it each week.

2. We conduct routine interior inspections.

3. We will conduct a "Move-In" inspection prior to new residents moving into the property.

4. Within 90 days after the residents move in, we contact the residents to ensure that all is well with your property and your residents.

5. Between the 10th & 11th month of the residents lease we discuss with the residents their desire to renew their lease.

6. When the residents move out of your property, we do a "Move-Out" inspection and document the condition of the property.

At MYHOMESPOT.COM Property Management, we do not tolerate the delinquent payment of rents. We are careful to explain this policy to new residents in order to avoid any misunderstandings that might arise later. Our rent collections & delinquencies policies are as follows:

1. You can expect that we will make every effort to collect rents timely and when due on the 1st of each month.

2. You can expect that we will mail your resident a "Friendly Reminder" if rents are not collected by the 4th of each month. We also will attempt to phone the tenant.

3. You can expect that we will "Hand Deliver" a 3-day notice, (Florida's legal prerequisite to an eviction), between the 7th and the 9th of the month.

4. You can expect that we will turn delinquent residents over for an eviction to be filed on or shortly after the 15th of the month.

At MYHOMESPOT.COM Property Management, our property management software is the absolute best property management software in the industry.

1. You can expect to receive a monthly computerized report showing all income and expenses of your rental property.

2. You can expect to receive a year end summary statement for your tax purposes showing all of your yearly income and expenses and categorizing said income and expenses, along with your 1099.

3. Our single property owners can expect that we will process your rental payments to you within three business days of our receipt of the rent. Our multiple property owners can expect that we will process all of your rents no later than the 15th of each month. Florida Law requires that we not disburse funds to an owner until we know they have cleared the bank.

4. Your can expect that we will make your mortgage payments and/or homeowners association payments, if you so direct and provided that adequate funds are available in your property trust account. You can expect that we will not make these payments if adequate funds are not available in your trust account. We require, at all times, one month's payment be held in trust.

5. You can expect that in the last month of a tenants lease, we will hold funds in your trust account to protect you by ensuring that adequate funds are available to make your rental home "rent-ready", thereby ensuring faster lease ups and less vacancy time.

At MYHOMESPOT.COM Property Management, we believe that it is a conflict of interest for us to profit from the misfortunes of others. Therefore, we will not assess a surcharge to our property owners for maintenance & repairs to their properties. To ensure quality service and perhaps reduce the amount of maintenance requested, we require our tenants to submit all maintenance requests in writing.   Any repair made due to the tenant's negligence or failure to report will be charged to the tenant.  We insist that our tenants take good care of the property.

However, rental homes must be properly maintained in order to preserve the value of the property and maintain a positive relationship with the residents. Florida also has laws that require landlords to comply with certain basic maintenance and repair items.

1. You can expect that MYHOMESPOT.COM Property Management will not affect repairs to your property in excess of $500.00, without first obtaining your approval. NOTE: This excludes emergencies and repairs that are required by law (city, county, state or federal) or deed (homeowners and condo associations) to be effected to your property.

2. You can expect that if your property is vacant, we will affect items necessary to improve the property's show-ability to prospective renters. This means faster lease ups and less vacancy for you. Examples would include: lawn service, carpet cleaning, maid service, pool service, utilities and painting when necessary. In the event that any of these repairs were due to the former rental residents tenancy, you can expect that we will spend all of their security deposit first (not your money) to put your property back into it's pre-rented condition.

3. You can expect that we will institute minor maintenance & repair items ($500.00 or less) as requested by rental applicants to secure a lease to quality residents for your rental property. To avoid the possibility of major liability to you we also change the locks between each tenancy.

4. You can expect that during the residents tenancy, we will institute minor maintenance & repairs ($500.00 or less) when deemed by us to be necessary for the preservation of your property and/or the continuation of the residents tenancy, usually occurring at the renewal of their lease.

5. You can expect that we will only use repairmen, vendors and tradesmen that are properly licensed and insured to handle the type of work being performed on your property.

6. You can expect to receive the duplicated invoices of all repairmen, vendors and tradesmen employed to affect repairs on your property (additional charge to apply for the submission of duplicate copies).

At MYHOMESPOT.COM Property Management, we believe that communications are the essential element in the success of our company. That is the underlying reason for the creation of this "Property Owners Handbook" and our "Residents Handbook" for all of our tenants.

In today's business environment, no one can assume to know or read the mind of another, or be certain of their goals and objectives. To this end, we at MYHOMESPOT.COM Property Management have gone to great lengths to be accessible to our residents and property owners.

Please select from the following list of ways to communicate with us:

You can expect that our phones are answered by a live person, no automated answering system during normal business hours 9:00 AM - 5:30 PM Monday through Friday. After hours our phones are forwarded to an answering service or voice mail, which in the event of a maintenance emergency, automatically pages the property manager on call.  You can expect that our fax machine is on 24 hours a day, as many of our clients and property owners live overseas.

You can expect to receive virtually any answer regarding our company policies from our web site, as well complete many forms regarding your account.  We check our e-mail several times a day, Monday through Friday and reaching any member of our staff is easy to reach by typing the first name at myhomespot.com.  Below is a list of the property managers and staff members:

Glenn Dorsey
glenn@myhomespot.com
www.GlennDorsey.com

   
Direct Mail
All general correspondences and replies may be sent to the individual offices. Any official notices should be sent certified mail, return receipt at 429 South Navy Blvd, Pensacola, FL 32507-3369.

All relationships are established by written agreement between you and MYHOMESPOT.COM or companies acquired by MYHOMESPOT.COM. All terms, conditions and provisions outlined in this handbook are subject to change or withdrawal at any time without notice.

You should look solely to your individual property management services agreement for actual services rendered. The following table of contents outlines the benefits, services and what you as our client can expect from MYHOMESPOT.COM Property Management.