Hopefully, these questions have provided you with an insight to the many services The Todd-Gordon Companies LLC can provide. We encourage you to contact us to tailor our management contracts to meet your specific needs. We specialize in the small-to-moderate-size investor/owner and are capable of providing full-service management on a large scale. Our fees are competitive and undoubtedly a great value given the high level of service.
The Todd-Gordon Companies LLC produces predictable results and great outcomes. You deserve nothing less.
Click here for a copy of these Frequently Asked Questions.
Are you insured? Yes, The Todd-Gordon Companies LLC (TGC) is fully insured. We maintain General Liability coverage, as well as a number of other business policies.
Are there any up-front costs? No, however, we require the owner to reimburse TGC for any advertising and/or repairs performed in conjunction with your property, as the expenses are incurred.
When do you mail the owner's check and statement? Rents are due in our office on the 1st of each month; our leases specify that rent is considered late if not received by the 5th of the month, at which time a late fee is assessed. In order to avoid violating trust accounting laws, we need to wait until rent checks clear before we can send payment to you. Generally, owner's checks and statements are mailed on or before the 15th day of every month. The check and statement reflect activity in your account(s) for the preceding month.
Do I lose control of my property once you start to manage it? Absolutely not. We work for you. TGC allows you to be as involved or uninvolved in the management of your property as you would like.
If my property is vacant, do I still pay a management fee? No. Management fees are only earned when rent is collected. Simply put, no fee is payable when your property is vacant.
Can you send or wire-transfer my funds to my bank? Owner's funds may be sent directly to any bank account the owner chooses at no additional cost.
What if I want to use my repair people? An owner may use their own vendors as long as they meet our criteria and carry the necessary insurance, licenses and bonds. However, we ask that property turn-overs be performed by TGC-approved vendors. Typically, this can be done in a shorter period of time and at a lower cost.
How do I know you won't spend large sums of money? In the management agreement, the owner and TGC agree to a set the dollar amount that cannot be exceeded without owner’s written approval except in cases of emergencies.
How do you handle capital improvements? All capital improvements initiate a “Request for Proposal,” performed in a professional manner with a well-rounded selection of vendors. Generally three bids will be presented for your written approval.
How do you determine the rent amount? We use a number of industry tools to determine the appropriate market rate for your property. Primarily, we rely on our vast experience with leasing similar properties as well as routine market studies. Our comparative market analysis assists our Managers and leasing staff to determine what similar properties are receiving in rent.
How long will it take to lease my property? We fill vacancies within 30-45 days. It should be noted that 3 major factors play a role in your investment property’s lease-up: (1) the condition and curb appeal of the property; (2) overall strength of the rental market; and (3) the rental price. Any or all of these factors may impact the speed by which your property rents. As your agent and management company, TGC handles all of these issues for you. You no longer have to supervise endless vendors, give up your personal time, or risk your safety meeting prospects.
How much security deposit do you collect? The deposit is the same as one month's rent.
Who holds the resident's deposit? The resident's deposit is held in an interest-bearing escrow account administered by TGC in accordance with jurisdictional requirements.
How do you find a resident? We use signs, flyers, newspaper classified advertising and the internet. TGC is proud of the fact that many of our leads come from word of mouth and resident referral.
How do you determine if a resident is qualified? TGC's simple yet thorough application requires applicant(s) to provide information that verifies their credit, rental history, employment/income and criminal history on each adult applicant.
What if a resident doesn't pay? Rents are due on the 1st and become late on the 5th. If the resident has not responded by the 10th, we initiate legal action. However, to encourage timely payment, TGC provides residents the option to pay rent via credit card, on-line payment option or automatic, prescheduled checking account withdrawals. Should a resident miss a payment, late notices are sent in multiple ways, including e-mail, U.S. mail and by hand-delivery.
What if the resident does damage to my property? The resident will be responsible for all damages beyond normal wear and tear. Should damage occur, the resident is notified in writing of a lease violation and charged for any and all repairs to the property. Additionally, TGC always performs a move-out inspection. If the resident has damaged your property, money will be withheld from their security deposit. If the cost of repairing the damage exceeds the amount of the security deposit, TGC will sue on your behalf for the additional amounts owed. We can handle all of your collection needs.
How often do you check the condition of the property? All properties have routine inspections. Interior inspections are typically performed twice a year. Other inspections may be requested if management notices something "unusual" at the property. Additionally, at move-in and move-out, an inspection is performed detailing the condition of the apartment/home. Each month, management will provide you with an official inspection report, detailing the assessment of the property and any required repairs and preventative maintenance items completed.
How do you keep track of my property’s information? TGC uses state-of-the-art software designed for property management with the ability to track just about every aspect of an owner’s property.
What happens when a resident gives notice to vacate? We verify that the resident has provided “proper” notice. If they have, TGC informs you that the property will be coming vacant and we begin looking for a new resident. We survey the condition of the property at time of notice, and commence any preventive maintenance or repairs needed. Marketing the property starts immediately.
What do you do if the residents are not taking care of my property, or you discover unauthorized pets? We immediately contact the resident in writing and give the resident an opportunity to correct the situation. Usually they will. If the problem persists, we will make a decision based on that specific situation whether to pursue legal action.
Do you pay the bills for me? TGC can pay your insurance, mortgage, homeowner's fees, etc. Some of our clients do request per their management agreement that we do this. As our client, it is up to you. However, TGC notes that here must be sufficient cash flow from the property to cover such expenses and TGC will ask you to establish an additional reserve fund for this purpose. This reserve account will allow TGC to make prompt payment for you without waiting for the rent to arrive.
Do you provide me with monthly financial reports? Yes. TGC provides its clients with monthly revenue and expense reports for each property.
Do you insure my property when you manage it? No. You maintain your own insurance coverage. However, we will gladly recommend insurance companies interested in writing insurance on your property. TGC carries its own company insurance.
Do you handle problems late at night and on weekends? Yes. TGC offers a 24/7 Service Request Line to answer all calls, no matter the time of day. We will talk with the resident to determine how best to proceed. Many times we can solve the problem over the phone, saving time and the cost of an emergency repair. If a service repair is required, TGC has a highly skilled maintenance staff and/or a list of approved vendors who can quickly and cost-effectively correct the issue.
What happens if legal action against a resident is necessary? Part of the many services TGC provides at no additional cost to the owner is supervision of all legal action taken against residents. From properly notifying the resident to filing legal documents to consulting with management’s legal representative, TGC serves as the owner’s agent/representative during all court proceedings.
Do you produce newsletters and surveys for residents? TGC tailors resident communications to meet the owner’s needs. We have an interactive website and encourage residents to visit it regularly. TGC also has the capability of providing community surveys and e-newsletters.
Do you have a preventative maintenance program? TGC has an extensive preventative maintenance program in place. Management uses this program to maintain the value of your property and avoid letting small issues become larger, costly problems down the road.
Do you allow residents to perform repairs or hire their own repairmen? Absolutely not.
What is your management fee? Our management fee is well-within industry standards and based upon a number of calculated factors. Because TGC tailors its services to meet your needs, our fees are calculated and presented within our formal proposal for management services.
Besides your management fee, are there any other fees I should know about? TGC does not charge additional fees such as a vacancy fee, set-up fee or leasing fees. It is our belief that our management fee will represent the sum total of services tailored to your needs. As such, there are no hidden fees or up-charges.
How can I be sure your company can manage a property the size of mine? The Todd-Gordon Companies LLC is not limited to any segment of the housing industry. Furthermore, we do not have a single focus or a cookie-cutter approach. We specialize in property management. With over 20 years’ experience managing properties ranging from single family homes to over 500 units, we stand apart from those who have entered this industry overnight or realtors who moonlight as property managers in a down market. Our size allows us the flexibility to appreciate the investor with a single-family home or a high-rise complex.
What if I find my own resident prospects? Great. TGC always appreciates the owner’s participation in the daily oversight of their property. Please note, however, that all potential residents must be screened through TGC’s application process to ensure compliance with all Fair Housing Regulations.
Will I be able to enter my property at any time? Due to privacy laws and TGC’s lease agreement, notice must be given to all residents prior to management entering their apartment/home unless deemed an emergency.
How soon can The Todd-Gordon Companies start managing my property? TGC can start the process immediately. The process begins by obtaining some information about you and your property(ies). Thereafter, TGC prepares and presents a customized proposal for managing your very important asset. The proposal assists you in deciding if TGC is a good fit for your needs.
The Todd-Gordon Companies LLC (TGC) was designed with the modest investor in mind. TGC’s structure has been developed with a commitment to its client, the owner. This is best shown by having a passion for the asset, the bricks and mortar, and the residents' longevity. The homeowner, small investor and reluctant landlord now have the tools of a large firm in their corner. TGC is proud of its reputation in the Washington metropolitan area. That reputation was built upon a company-wide commitment to its service-oriented philosophy: if you provide outstanding service and housing, you will always be protecting your client’s asset.
Richard T. Jackson has been representing owners in the management of their real estate assets for over 20 years. He has trained and developed his team to always position themselves from the owner's perspective. Every owner has their own objectives for their investment. Before any programs are undertaken, it is imperative that these objectives and goals be defined. Thereafter, a management plan is developed that includes a marketing and leasing strategy, operating budget, reporting vehicles and projected capital expenditures, to name a few. Whatever your objectives may be, TGC approaches each assignment with complete dedication and passion.
TGC’s management structure and operating philosophy is based upon a hands-on, immediate access approach insuring that every client receives the most prompt and efficient access to the management, accounting, leasing and service teams. TGC teams drive results by striking a balance between responsive property management and efficient, value-added asset management. We believe that a property's value is maximized only by attention to everyday details and the bottom-line. By instituting processes and procedures, we drive predictable results and great outcomes; you deserve nothing less. TGC’s data systems allow its teams to install property-specific metrics that measure our progress toward the client’s goals and objectives.
We understand that many owners and investors simply do not wish to be landlords. In fact, you may be reading this while enduring the stresses of being a landlord, answering the late-night phone calls and endlessly searching for qualified residents. TGC can make you one of its “worry-free owners.” Take an opportunity to tour TGC’s entire website and visit the Connect With Us page to request a personal consultation. Please also review the frequently asked questions below.
The Todd-Gordon Companies LLC Is well on our way to becoming one of the area’s most esteemed boutique property management companies.
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