Property Management in Birmingham AL
The Birmingham Home Leasing service area is relatively small compared to the entire Birmingham Metro Area. Our service area is defined as an approximate 10 mile radius from our office, which is located in North Shelby County. Some of the areas included in our service area are Hoover, Homewood, Vestavia, Mountain Brook, Oak Mountain and Chelsea. Properties must be appraised by us to rent for at least $1,300 per month to meet the minimum listing requirement. Generally speaking, those properties would be valued to sell for $150,000 or more. The property must be in excellent condition and must be listed to rent at or below market value. We only list and manage unfurnished, single family detached dwellings with at least 2 bedrooms and 2 full bathrooms.
If you are a Rental Property Investor or are considering becoming a Rental Property Investor, please do not assume that Birmingham Home Leasing would automatically lease and/or manage any particular property that you decide to buy. All properties must be within our published service area and meet, at a minimum, all of the specifications provided above. Please contact our office if you have any questions.
Most Competitive Leasing & Management Service Pricing
Birmingham Home Leasing will place a Tenant for a fee equal to 50% of the first month’s rent and provide Monthly Management for as little as $44 per month. To the best of our knowledge, we are currently advertising the lowest pricing for Leasing and Management Service in the Birmingham Metro Area. After having said that, we strongly recommend that you check with each of our competitors for the most up to date information.
For more details on our Leasing Service and Management Services, please go to our Leasing & Property Management Services page.
We specialize in placing Tenants with high Credit Scores. Since Birmingham Home Leasing began in 2014, we’ve leased residential property in excess of $110 Million in value without an eviction. Since the CARES Act was signed into law on March 27, 2020, we have received zero requests for rent forbearance.
The current demand for single family detached rental properties in excellent condition exceeds supply. In 2020, the average Tenant that we placed had a FICO Score of 769. In our experience, it is not possible to find Tenants with high credit scores who are willing to rent properties in less than excellent condition.
In order to attract a Tenant with a high credit score, not only does the property need to be in excellent condition, but it needs to be offered at or below perceived market value. As a practical matter, in the Broker’s opinion, market value is established by Zillow. Most properties in Zillow will have an estimated sales and rental value. In some cases, we disagree with Zillow, but in many cases, our estimation of rental value is similar.
If we agree with Zillow’s Rent Zestimate for your property, usually we will recommend 100% of that estimate if the property is in “A” condition according to our evaluation. We would recommend 95% of the Zillow Estimate for a property in “B” condition and 90% in “C” condition. We will list properties in condition “B” and “C”, but only for 30 days. If the property doesn’t rent in 30 days, then the Owner must upgrade the property to condition “A” to continue the listing.
The following is set forth as a definition of what condition “A” is for specific areas of the rental property.
- Condition “A” for Interior Walls: Interior walls are new and/or have recently been repainted or touched up by a professional. Interior walls cannot have tv mounts installed, anchor bolts, holes of any kind that need to be repaired, touched up or repainted. Any visible scuff marks are able to be cleaned without repainting.
- Condition “A” for Carpet: Carpet does not have worn spots or stains that cannot be removed. In addition, the carpets do not need to be stretched and/or seams need to be repaired. Carpet is new or able to be effectively cleaned.
- Condition “A” for Floors: Floors have no stains or breaches in the finish.
- Condition “A” for Exterior: Roof and exterior walls must be in excellent condition. Lawn and landscaping must be in excellent condition.
How We Screen Tenants
We believe that thorough Tenant screening is the best way to avoid evictions. We pull the Applicant’s credit report from all three Credit Bureaus (TransUnion, Experian, and Equifax) and average their scores.
We also check the Applicant’s Driver’s License information with the appropriate issuing State. In addition, we conduct a Criminal Background Investigation on all Applicants.
Identity theft and Synthetic Identity Fraud is unfortunately a common and growing problem. We have methods and procedures for discovering identity theft and fraud and have a published policy on the subject in compliance with the Federal Trade Commission’s “Red Flag Rules” guidance.
Please check with each of our competitors about this subject, but to the best of our knowledge, we have the most thorough Tenant screening process in the Birmingham Metro Area.
Tenant Placement Service
50%/FIRST MONTH’S RENT
- Advertising the Property in Zillow, etc.
- Processing Lease Applications
- Processing Leases
- $0 Renewal Fee
- Showing Service from Cooperating Agents available at an Additional Charge
- Move-In and Move-Out Condition Reports
- Collecting rent from the Tenant
- Transferring rent electronically to the Owner
- Monthly and annual accounting
- Annual IRS 1099 Service
- Accepting repair and maintenance requests from the Tenant, which will be relayed to the Owner. Under this plan, the Owner is responsible for ordering all maintenance and repair service.*
- Escrowing or holding the Tenant’s Security Deposit and returning it according to Law when they move out
*If you want the Broker to order quotes for repairs and maintenance, then the Monthly Management Fee shall be $88 per month (for properties up to 30 years old) or 10% of the rental rate per month (for properties 31+ years old).