• Magnum PIM Program

Magnum PIM Program

Rental Management Program from Magnum York

The Magnum PIM Program is a full-service program. It includes showing your property, screening and approving appropriate tenants, moving in the approved tenants and collecting monthly rent. Upon the lease expiring, we will either renew the lease or complete a move-out of the tenants.  For apartment buildings, if applicable, we will supervise the resident caretakers, manage monthly mechanical inspections and organize landscaping and snow removal.

Magnum PIM Program – The Magnum York Advantage

We use all the resources available to us to locate tenants for your property. Depending on the city and property, we advertise on free and pay for service websites and the local newspaper. We also have a working relationship with various companies to place out of town workers on contract in various cities. That’s “MY” Advantage.

  FINANCIAL

  1. Deposit of rent and security deposits on behalf of the owner. We offer several payment options for tenants including direct withdrawal, money order, bank draft, and personal cheque.
  2. Deposit all owner payments monthly into the owner’s preferred bank account.
  3. Collect delinquent accounts and handle any required evictions. Outstanding amounts left unpaid after the tenant has vacated the unit will be sent to a third party collections agency.
  4. Post approved invoices and process payments (as outlined in the Management Agreement).
  5. Reconcile bank statements monthly.
  6. Prepare and electronically send monthly financial statements to the owner.
  7. Distribute annual financial statements to the owner.

ADMINISTRATION

  1. Place advertisings for the property online.
  2. Take all calls from potential tenants.
  3. Show the property during the day and early evening.
  4. Take applications from potential tenants and using our approval process, detailed below, approve tenants.
  5. We handle all move in and move out processes.
  6. Organize repair and maintenance for the property as approved by the owner.
  7. Provide 24-hour emergency service for tenants.
  8. Supervise maintenance contractors.
  9. Respond to correspondence and resolve complaints from tenants, Condominium Board of Directors and others as required.
  10. Issue and deliver bulletins to tenants.
  11. Provide regular property inspections.
  12. Maintain an up-to-date tenant list.

TENANT APPROVAL PROCESS

  1. Potential tenant fills out an application. (All persons over 18 years of age must fill out an application).
  2. From the application, we contact their current employer, their current and previous landlord and pull a credit report from Equifax.
  3. The rent cannot be more than 33% of the Tenant’s gross income
  4. If all of the checks look good the tenant is approved and is required to submit the security deposit to hold the property.
  5. Producing quality tenants since 1991!

 

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