Full Service Leasing Program

PREPARATION

Can you think of anything that works well approached in a haphazard manner?  Leasing real estate doesn't either.  But, too often, agents and owners stick a sign in front of a property and an ad in the paper hoping someone will drop by and beg to rent.

At MMI, we think a few hours of advance prep work increases the odds of getting a tenant quickly and cleanly.  First, we research the market value.  Of course owners want the most they can get and so do we.  And that's the price we want to set right from the start.  Our goals in pricing are to avoid overpricing, maximize the rental rate and minimize the vacancy period.  These are your goals too, aren't they?

No, we're still not ready for that sign...  now we look at the property for repairs and cosmetic changes that may help reduce that vacancy time.  Some owners want to do the work themselves... others want us to arrange for help. 

One more thing before we hammer in that sign.   Let's do things right.  Sure, there may be just a touch of over-regulation in the Washington Area, but until that changes, we need to be in compliance with the various license laws and in good standing with the other regulatory agencies.  We'll help here too.

Okay!  Put up the sign!  May we do that for you?

ADVERTISING

Unless we rent your property, you pay nothing;

• NO advertising costs
• NO setup fees

...so, since we're paying the freight, we've developed a multi-faceted marketing program that produces results.  Here's what we do....

        NEWSPAPER &  MAGAZINE

We use the Washington Post and other local newspapers to market individual properties.  We have lots of other means to advertise, but the newspaper is still read by much of the house-hunting population and it's available in other parts of the country for people moving to the Washington area.  So, we use it.  And, by adding a single line to all of our newspaper ads, we've greatly increased results...."see this and other homes at www.mmirentals.com".

MMI is the only rental management company to advertise regularly in the Harmon Homes Magazine--a book of sales listings, often used as a "wish book" for would-be home buyers. Our page is often all they can really afford between the front and back covers. 

       MULTIPLE LISTING SERVICE

MRIS - There's really only one system today, the Metropolitan Regional Information SystemŪ (MRIS).  This system encompasses some 33 counties in 4 states and the District of Columbia.  The same system takes sales and rental listings.   Listings are placed on the National Association of REALTORSŪ website.. 

       INTERNET

MMIRENTALS.COM - Our pride and joy!  We believe this site is one of the best in the area... and getting better every day.  And the public thinks so too.  We're seeing the number of hits double every six months!  And, they're not just hits, we get responses, lots of them.  We invite you to browse our site.. see what it has to offer.. come back frequently!

Harmon Homes Online - Harmon Homes.com is a nationwide, searchable database of rentals. All MMI listings are placed on this database.

       SIGNS

Our signs have become widely recognized throughout our market area.  And, now, we can add a brochure tube filled with color brochures that resemble the web page for the property. 

TENANT SCREENING

Just as one cannot be sure success has been achieved in a career without defining success through goals, success at renting cannot be achieved unless the criteria for success is well defined.  Besides knowing what you want for income and credit standing, having a definite Qualification Policy also makes it clear on what basis you are accepting applications and, more importantly, rejecting applicants.  The last thing an owner wants is a Fair Housing complaint filed because the applicant thought he/she was discriminated against.  Define your policy and stick to it.  Ours is published right here on our website.  Have a look at our QUALIFICATION POLICY .

You will note that we define our requirements in terms of Income, Credit Deficiencies, Rental History, Employment History & Stability as well as other criteria such as number of occupants and pets.  Owners who hire MMI are not bound by our policy, but must make any changes IN WRITING and BEFORE WE ADVERTISE.

Persons interested in applying to rent an MMI property are given an application form and are expected to pay a reasonable application fee.  Our screening process is generally completed within one business day following receipt of the application and fee.  Tenants are notified of the decision, in writing, as required by law.

LEASE

Once the application is approved, a lease is prepared on a form meeting the requirements of the particular jurisdiction wherein the property lies.  In Prince George's County, we use our own lease.  Montgomery County requires that the lease contain certain elements, prohibits others and requires that the Office of Landlord-Tenant Affairs (OLTA) approve the lease form before use.  Still other jurisdictions have their own requirements... Rockville, Gaithersburg and Takoma Park in particular.   When the lease is ready, we ask the tenant to come to our office, sit down in our conference room to review the lease and to bring certified funds for the deposit.   Once the deposit is paid and the lease is signed, and only then, we consider the property rented.

Tenants are furnished with all necessary phone numbers and instructions to switch applicable utilities into their names effective on the move-in date specified in the lease.

All Maryland leases must include information about Lead Paint Poisoning Prevention.   We provide these pamphlets and obtain a receipt. 

MOVE-IN

We're ready for move in!  The lease is signed and the security deposit is paid.   We collect the first month's rent and pass on the keys.  Tenants also receive an inspection form on which they may note existing damages.  The owner or property manager may accompany the tenant for a move-in inspection, but there is no requirement to do so.