The process
From first call to fully managed — here's exactly what happens.
No guesswork, no surprises. Here's how we take a property off your plate and keep it running smoothly — from the day you reach out through every month that follows.
You reach out. We learn about your property.
It starts with a conversation. Tell us about your rental — the address, current situation, and what you're looking for in a management partner. We'll ask a few questions and give you a clear picture of how we'd approach your specific property.
Share basic property details and your goals
Reviews your property, answers your questions, and prepares a management proposal
- Initial consultation — phone or email
- Property review and market assessment
- Custom management proposal prepared for you
We sign the agreement and get to work.
Once you're ready to move forward, we execute a written management agreement that spells out every fee, every responsibility, and every expectation. Then we get to work immediately — photographing the property, listing it, and screening applicants.
Sign the management agreement and hand over keys
Handles everything from photography and listing to showings and applicant screening
- Written management agreement executed
- Professional photos and rental listing created
- Showings scheduled and conducted
- Applicants screened — background, credit, income
A qualified tenant moves in.
We present you with our recommended applicant and handle the lease from start to finish. Move-in day is documented thoroughly — a written condition report and photos that protect you if there's ever a dispute at move-out. Most properties are leased within 2–4 weeks of listing.
Approve the selected tenant
Prepares and executes the lease, collects the security deposit, and documents move-in condition
- Tenant selected and presented to owner
- Lease prepared and signed
- Security deposit collected and held
- Move-in condition report and photos completed
We manage. You collect.
Once your tenant is in place, we handle everything. Rent is collected each month and deposited directly to you. Maintenance requests go to us, not you. We conduct periodic inspections, monitor lease compliance, and keep you informed — without pulling you into every detail.
Receive monthly deposits and review your owner statement
Collects rent, coordinates maintenance, inspects the property, and handles all tenant communication
- Monthly rent collection and owner disbursement
- Maintenance requests handled within 24–48 hours
- Periodic property inspections with written reports
- Monthly owner statement delivered every month
Tenant moves out. We turn it around.
When a tenancy ends, we manage the entire transition. We conduct a thorough move-out inspection, document any damage against the move-in record, handle the security deposit disposition, and get the property ready for the next tenant — minimizing vacancy and protecting your investment.
Approve any repair work needed before re-listing
Inspects, documents, handles deposit, coordinates turnover repairs, and re-lists the property
- Move-out inspection and damage documentation
- Security deposit disposition handled per lease terms
- Turnover repairs coordinated with local vendors
- Property re-listed and leasing process restarts
Staying in the loop
You're always informed. Never overwhelmed.
We handle the day-to-day so you don't have to — but you're never left wondering what's happening with your property. Here's how we keep you in the picture.
Monthly Owner Statements
A clear summary of rent collected, expenses paid, and your net income — delivered every month without you having to ask.
Inspection Reports
Written reports with photos after every scheduled walkthrough, so you have a documented record of your property's condition over time.
Direct Communication
For anything that warrants your attention — a significant repair, a lease decision, a tenant issue — we reach out directly. You're consulted when it matters.
Ready to see how it works for your property?
Reach out and we'll walk you through the process for your specific situation — no pressure, no obligation.
Or reach us at info@fifthpenn.com