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By adding Madison Real Estate and Property Management, Inc. as an additional insured, you provide you and your insurance company additional liability coverage, which is explained after the following story:
A neighbor kid entered the backyard of a rental home, stepped in a hole, and broke his leg. The parents of the boy sued the tenant, the property owner, and the property manager. The property manager was not listed as an additional insured and had the standard indemnification clause in their management agreement. This indemnification clause was similar to the one that Madison Real Estate and Property Management, Inc. has in its management agreement as well as every other property manager’s agreement. Because the property manager was not listed, the homeowner’s insurance would not cover the property manager. Since the property manager was being sued and not covered by the owner’s policy, the property manager had to hire an attorney to defend them, just like the attorney for the insurance company was defending the property owner. So both the homeowner’s insurance company and the property manager were paying for an attorney to defend them. In both cases the attorneys pointed the blame everywhere but their client. So the homeowner’s insurance is showing blame with the property manager and/or tenant. The property manager’s attorney is showing blame with the property owner and/or tenant.
In this case, the homeowner was found guilty of negligence and the homeowner’s insurance company paid the claim. However, the property manager had accumulated nearly $10,000 in attorney fees in its defense. The property manager, like Madison Property Management, had professional and liability insurance, but neither policy would cover the property manager’s legal expenses. Because of the property manager’s indemnification clause, which is a common clause in all property management agreements, the home owner was held liable for the $10,000 in attorney fees to defend the property manager.
If the homeowner had listed the property manager as an additional insured, the insurance company would have equally defended the property manager as well as the homeowner and there would not have been any additional costs incurred by the home owner.
I encourage you to talk to your insurance agent about the above scenario and be sure to list Madison Real Estate and Property Management, Inc., Inc. as an additional insured for your rental property. Your agent may try to talk you into listing Madison Real Estate and Property Management, Inc. as an insurable interest or as an additional interest, but this is not the same thing. Have them explain the difference and the risk that is assumed by you, the home owner. Some companies may refuse to list your property manager as an additional insured. My recommendation is that you send them a copy of your management agreement and express your concern for your liability. They’ll probably agree to add the property manager. They may require that you pay a fee to do so, but the fees I have seen are very little and worth the peace of mind. We list a number of companies as additional insured on our policy and we pay the small fee to do so. If you have any questions or concerns, feel free to contact me.
1) Ask the property manager if they own rentals as well?
Generally that indicates more of an “owner’s mentality”. An Owner’s Mentality is cautious about costs and always analyzing return on investment.
2) What professional affiliations do you belong to?
Washington does not require our property managers to be licensed nor is there any regulating body? So unfortunately, most property managers have very little training or guidance. Select a property manager that is licensed, is affiliated with a professional organization, and who has been professionally educated in property management.
3) What type of property do you specialize in?
Some companies specialize in single family homes and other companies specialize in large complexes. Pick a property manager that specializes in your type of rental. Madison Real Estate and Property Management, Inc. does not specialize in large apartment complexes. Our portfolio consists of 50% single family homes, and 50% multi-family, such as duplexes, triplexes, and four plexes.
4) How long have you been in business?
Experience and track record is important. Madison Real Estate and Property Management, Inc. has been in business since 1985.
5) How did you become a property manager?
Madison Real Estate and Property Management, Inc. came about because our owner, Eric Bessett, was purchasing his own rentals as well as working for a large property management company and saw a need for professional management of single-family homes and small multi-family units (duplexes, tri-plexes, four-plexes).
6) Request a list of three clients who you can contact about their property management services?
Please e-mail Info@MadisonSpokane.com and Madison Real Estate and Property Management, Inc. will gladly provide a list of references.
7) How many people are in your company/office and what are their duties?
The average employee to property ratio is 1 employee for every 100-125 properties. The lower this ratio, the more care you can expect. Madison Real Estate and Property Management, Inc.’s current ratio is 1 employee to every 73 properties.
8) How many properties do you currently manage?
In general, the larger the company the less the personal service you can expect. However a lot of this has to do with how sudden and recent the growth has been. Over the past three years, Madison Real Estate and Property Management, Inc. has kept its growth less than 10% per year. Recent and rapid growth can be a red flag.
9) What areas (if any) are you limited to?
Markets vary from area to area and it is important to find someone that specializes in the area in which your rental resides. Madison Real Estate and Property Management, Inc. specializes in Spokane and surrounding areas within a 20 mile radius of our downtown office. However, if you have a property outside of our area, we can provide you with a referral to another professional company.
10) Can tenants apply online? Can tenants pay rent online?
Simply, the answer to both questions is… YES!!! In order to rent property faster, keep tenants longer and get you rent payments faster, we are miles ahead of the competition in our technology. Applying online is simple, easy and secure. Paying rent is all three as well, but in addition to that it is FREE to the tenants. Many companies add an additional charge to pay rent online. At Madison Real Estate, our tenants love the fast, easy and FREE ability to pay their rent online at their convenience. Faster occupancy and happier tenants mean more money goes to your bottom line each year through reduced turnover.
Additionally, tenants are able to submit work orders for maintenance online via their tenant portal. Once a work order is submitted, it goes directly into our property management software and an e-mail is sent to the maintenance staff alerting them to a new tenant request. Quick, easy and effective. Response times are cut down, tenants stay happy… and happy tenants mean longer term tenants that reduce rental life-cycle turnover costs dramatically
11) What is your advertising and tenant lead generation procedure? Who pays for advertising? Do you have a website and can tenants apply on-line? Do you have virtual tours?
Often Owner’s think that advertising is paid by the management company, when in actuality it is most likely charged to the Owner. You will want to know what a full month’s worth of advertising will cost you and what different areas does the manager use. For example, Madison Real Estate and Property Management, Inc. posts our listings onto our website and over fifteen other websites. Our GOOGLE and YAHOO search engine placement is very high. Additionally, we advertise on Craigslist and will place ads in the newspaper.
12) What is your tenant screening procedure?
Some property managers do little screening. Many owners are very tempted to go with these companies, because they also boast higher rents. Unfortunately that tends to be a short term gain, as the damages, eviction costs, and re-rent costs are much greater. It is advisable that you select a management company that checks that utilizes a professional screening company to verify: credit, criminal background, Landlord references, social security ID check, and employment.
13) What is your tenant move in procedure?
Madison Real Estate and Property Management, Inc. conducts a thorough move-in inspection and annotates damages and concerns in writing. We also take multiple photos (an average of 250 per property) to visually document the condition of each and every area of the home. Additionally, our lease, property condition report and other forms protect our owners.
14) What is your maintenance and repair policy? If you have internal maintenance, what is the hourly rate?
Madison Real Estate and Property Management, Inc. performs routine maintenance up to an agreed upon dollar amount through qualified and legitimate vendors. We request a copy of their liability and workers compensation insurance policies as well as a copy of the contractor registration prior to any work being performed. We do not have an in-house maintenance staff as we feel our job is to run a property management company to the best of our ability. It is our opinion that running other in-house businesses distracts from our core business of managing property. Madison Real Estate and Property Management, Inc. utilizes a state-of-the-art work order system that tracks all maintenance requests. Our owners receive copies of each work order via email. We have an on-line system making it easy for our tenants to trouble shoot problems and request repairs.
15) What is your move out procedure?
Madison Real Estate and Property Management, Inc. conducts a thorough move out inspection after the tenant has vacated the property. We compare move-in to move-out inspections and photos. Proof of any damages and the collection of funds are rarely challenged due to our impeccable documentation.
16) What is your management termination procedure?
Madison Real Estate and Property Management, Inc. requires a 60-day written notice prior to the end of the contracted period. We will work with owners in special situations (moving back into their home, selling the home, etc.) to bring about a fair and equitable resolution.
17) What is your policy on returning phone calls from tenants and owners?
Most of our correspondence with both the tenant and owners are via email. This allows for written documentation and reduces the chance of any errors on our part. E-mails and phone calls are returned in order of urgency and importance. All calls are returned within 24 business hours.
18) May I request a copy of the property management agreement?
Absolutely. Please e-mail Info@MadisonSpokane.com and Madison Real Estate and Property Management, Inc. will gladly provide a copy of our management agreement.
19) May I request a copy of proof of insurances?
Yes. These copies will come from the carrier directly, not the property manager. Please provide contact information that we may pass along to our carriers.
20) What kind of software do you use?
Generally speaking, property management software will help organize and develop systems for the property manager, which will improve performance. QuickBooks is not a good solution and a company running property management from an accounting-only software should be a red flag for you as an owner. We use one of the most advanced and cutting edge solutions in the industry. It is called AppFolio and can be seen at the following website: http://www.appfolio.com/
21) Begin searching for your property manager as soon as possible.
If you are buying a property, don’t wait until the property closes to select your property manager. If you are looking at changing property managers, do so before you have a vacancy. Give yourself plenty of time to pick the right company.
22) Don’t select a “yes man” Look for honesty and quality of the responses to your question.
Every property manager knows that the owner wants high rents, low maintenance, and immediate attention. Select a property manager that can provide data that supports their rent recommendation.
23) Request a copy of their lease.
Does it address all of your concerns? Does it look professional? Does it protect you the Owner?
24) Request for a copy of a typical owner statement.
Is it professional, easy to read, and address everything you want it to?
Our Owner’s access their statements on-line and our notices come to you in a form of an email. If you are not a computer, internet, or email “kind of person,” our system is probably not for you.
25) Request a list of vacant units.
Call and schedule appointments to see them. Was the person showing you the property professional? How did the unit show?
Madison Real Estate and Property Management, Inc. has assisted and consulted with a number of Landlords/Sellers in a lease/purchase or a Lease with option to buy. However, we advise that you consult with an attorney and a real estate broker before considering a either of these. Madison Real Estate and Property Management, Inc.’s owner, Eric Bessett, is a Realtor and licensed managing broker in the state of Washington. He would be happy to advise and assist for the real estate and property management contract side once you have spoken to your attorney.
A Lease/Purchase. Typically two documents are executed prior to the tenant/buyer taking occupancy. One is a lease agreement stating a specific rent amount, deposit amount, and lease term, in additional to the standard lease conditions. The other is a Purchase and Sale Agreement which specifies a specific price, sale date, earnest money, and the standard other terms and conditions. The point is that these specific items are known and certain before anything is executed.
A Lease/Option is a lease with an option to buy. The tenant has an option to buy or not. Typically Landlords/Seller uses this terminology, but prefers the Lease/Purchase over the Lease/Option as the Lease/Purchase requires a commitment from the buyer and the lease/option gives the tenant the total flexibility.
Rent: Typically the tenant/buyer wants a portion of the rent to go towards the purchase of the home. In fact, many times the seller simply increases the rent to cover this amount and buyer is perfectly fine with that. However, this is something that Madison Real Estate and Property Management, Inc. strongly encourages you to discuss specifically with your attorney. Let’s say that the tenant/buyer fails to maintain the home are starts dong things in direct violation of the rental agreement and you the Landlord/Seller want to evict them. There is case law that shows that the courts denied the eviction of the tenants as they were able to come to court and prove that they have equitable interest in the property. So now you have tenants destroying your property that you can’t evict. My guess is that once they are done destroying it, they probably won’t want to buy it either. So this is just one example of where your attorney can advise you on the pros and cons of a lease purchase.
Sale: Madison Real Estate and Property Management, Inc. has seen very few lease/purchases or lease with options to buy actual succeed. One of the main reasons is that the terms of the sale must be determined now, not later. So what happens when the sales market improves drastically and value increases 10-15%? Generally the seller will find any reason to get out of the contract. What happens if property values decline? Well, the tenant/buyer now wants to find any reason to get out of the contract as they can go find something else for less. The only time both buyer and seller are happy is when the market remained unchanged and that is simply very uncommon and an unlikely event.
Madison Real Estate and Property Management, Inc. is happy to oblige. Tenants love lease/purchases and options to buy because it makes them feel like they aren’t throwing their money away each month and that they are actually creating equity or an investment. So they can be a great marketing vehicle. Like anything, you just need to weigh the pros and the cons and decide what is best for you.
Madison Real Estate and Property Management, Inc.’s fee schedule is determined based on a variety of factors. Please contact us for more information.
Madison Real Estate and Property Management, Inc. doesn’t just add your property to our list of properties managed. We devote about 10 hours into the setup of your property. We could list about dozens of things we do during the set up, but let’s just list some of the major things that actually create value and can save the property owner money.
Yes and No. Over the past decades, we have put just about every contractor to the test. Cost is always important, but as you know, sometimes you get what you pay for. So the contractors we use now, have proven to provide low costs and quality workmanship.
Most of our contractors are small companies with little overhead. We believe that this is how we can keep costs down as well as ensure quality of workmanship. Also, we give them a lot of work, so we typically get better pricing than anyone else. For example, we have 3 main flooring contractors. We do more flooring than most builders, so we get better pricing than just about anyone.
With that said, we are always willing to try someone new to put them through the test. However, we do require that they have all appropriate licenses and registrations, complete a W-9, have worker’s compensation insurance, and have a general liability insurance policy.
If we and the property owner agree to test out their contractor, the instructions need to come through our office. We have a work order system and if we do anything outside of the system, things can go wrong.
Please take a look at our website. Often Owner’s think that advertising is paid by the management company, when in actuality it is most likely charged to the Owner. Madison Real Estate and Property Management, Inc. posts our listings onto our website and a couple dozen of other sites. Our GOOGLE and YAHOO search engine placement is very high. We also utilize Craigslist and other specialty sites (Gonzaga U Housing, Whitworth U Housing, Fairchild Air Force Base Housing) as deemed appropriate. Additionally, we advertise in the classified section of the local paper if requested.
The owner is responsible for all advertising costs. The management agreement allows up to $50 per week in advertising costs, which we are always able to be below.
Our website is simple in design but probably the most powerful property management website in the Spokane area. Each of our listings allows the prospective renter to either download our application to rent or complete an online application. Our tenants can pay online, submit a maintenance request online, as well as view our Tenant FAQs and Maintenance FAQs and troubleshooting guide.
Our owners have similar functionality. Madison Real Estate and Property Management, Inc. understands that everyone communicates differently. We find that the younger generation doesn’t want to talk to anyone; they want to go to the internet and find it. So our website is loaded with about everything anyone would ever want to see or know. Feel free to browse around.
The owner is responsible for all advertising costs. The management agreement allows up to $50 per week in advertising costs, which we are always able to be below.
Madison Real Estate and Property Management, Inc. is one of the few Spokane area property managers that do have virtual tours. Additionally, we create these tours at no additional cost.
Renting a property depends on price, condition, location, and the market. Our goal is to select a qualified tenant as soon as possible, but no later than 30 days. Since we have access to valuable rental statistics, it’s our job to advise you on price, condition, location, and market conditions so that we can achieve this goal.
Our rental policies are posted on our website. We hire a 3rd party company who checks credit, criminal background to include sex offender records, landlord references, prior rental history, eviction, bankruptcy, lawsuits, judgments, liens, collections, fraud, bad checks, FICO score, social security ID check, Patriot Act records, name verification, address verification, identity validations, and employment and income verification. Some Spokane property managers do very little screening. Many owners are very tempted to go with these companies, because they also boast higher rents and shorter rent-up periods. Unfortunately that tends to be a short term gain, as the damages, eviction costs, and re-rent costs are much greater. Madison Real Estate and Property Management, Inc. is confident that any lower rents or any longer rent-up periods caused by our strict screening process actually improves our property owner’s bottom line.
Of course you can, but Madison Real Estate and Property Management, Inc. will require that the tenant complete an application, pay the application fee, and be submitted to our screening company. All of this screening isn’t just there to find you a quality tenant, but it is also there to reduce risk to both the property manager and you as the property owner. With all of the identity theft and lawsuits arising from landlord/tenant relationships, thorough tenant screening is becoming more and more the norm. It is also the reason why so many landlords are hiring professional property managers to manage their rentals.
Most property managers look for A-tenants, while the rest of the world is looking for B-tenants. A-tenants are motivated, ready to move, and are qualified. They have good credit, stable jobs, and funds for the security deposit. A-tenants are less likely to try and negotiate the rent or security deposit and more likely to pay their rent on time, each and every month.
In general, “A” tenants are going to be easier to manager. However, “B” tenants can be just as good, which is why we do allow for some exceptions to some of our criteria which are cured by either a co-signer or a larger deposit.
Madison Real Estate and Property Management, Inc. demands that our staff provide you and your tenants with prompt and satisfactory service. If you ever have a question or concern, you can contact any of us, to include the President, at any time. If after talking to the President, you still are not 100% satisfied with our service, Madison Real Estate and Property Management, Inc. will agree to allow you out of your contract, free of penalties and fees. Find another management company that will do that!
The lease we use is a legal binding document, but we can try and negotiate on your behalf. If both parties mutually agree, the lease can be terminated. This process however, does require up front and honest communications with Madison Real Estate and Property Management, Inc. The owner is not to contact the tenant directly for any reason.
Madison Real Estate and Property Management, Inc. has never had a dispute with a property owner that required a judge to decide. Our management agreement is designed to protect Madison Real Estate and Property Management, Inc. and the property owner. We do not allow any changes or omissions from the management agreement because once executed; it is filed away and never looked at again. Our systems are built around that management agreement and we won’t know that your agreement is different than anyone else’s.
Madison Real Estate and Property Management, Inc. exerts all of its energy the first week of each month on collecting rents. Adhering to trust accounting requirements, we must let rent checks season before dispersing funds to the owner. Therefore Madison Real Estate and Property Management, Inc. holds off on completing owner statements and depositing funds directly into our property owner’s accounts until after the 10th of each month. Additionally, if Madison Real Estate and Property Management, Inc. pays any bills on your behalf, we generally do these between the 1st and 10th of the month, as we need the rent money to make those payments.
Collecting late rent is a very difficult job. We could actually get away with less staff if all tenants paid their rent on time. And if tenants would just communicate when they don’t pay their rent on time, it would be a lot easier. But as it is, our leasing agents have to turn into debt collectors and begin a very aggressive regiment to collect money on behalf of our property owners. So, Madison Real Estate and Property Management, Inc. retains all late fees to help pay for this extra and unpleasant labor.
Inspecting your rental property is just something that needs to be done. At the same time, we also want the tenant to feel like the rental is their home. We want to minimize any interference with their peaceful enjoyment of the home. We have learned over the years that the more we leave the tenants alone, the longer they tend to stay.
With that said, there are times that an inspection is needed. First, let us explain all that we do to make sure that your home is well taken care of, and then explain the process for additional inspections. When we take the property on, we conduct an initial inspection which generally includes a written report and photos. Next we conduct move-in inspections and move-out inspection with all tenants. The property owner receives a written report with photos after each and every move-out inspection.
Additionally, we conduct drive by inspections at least once a month. If a drive by inspection suggests any reason to be concerned, we will give notice to enter and inspect. Also, if the tenant fails to pay rent and fails to communicate to the office, we give notice and inspect.
And lastly, all of our vendors are trained and required to report any cleaning or damages to the property when they provide service. With all that said, if the property owner wants an inspection, we will do it at no additional cost to the owner. But this needs to be within reason. Like we said above, we don’t want to constantly bother the tenant if they are fulfilling all terms of the rental agreement.
As mentioned above, inspections are important and need to be done. The tenants do have legal rights to the property and there are laws and rules that we must follow. Therefore, we require that all inspection be scheduled through our offices. Additionally, for the protection of everyone, a Madison Real Estate and Property Management, Inc. employee will accompany the property owner or their designee on any inspections.
Rents are due on the first, but not penalized until after the 5th. On the sixth, our leasing agents put on their debt collector hats and start calling. Soon after, we deliver 3 day notices to pay or vacate for all tenants who failed to communicate and/or make arrangement to pay rent. If we still don’t hear from the tenant after the 3 days, our owners will be notified and we give the tenant notice to enter and inspect. About mid-month, our General Manager will be contacting you and giving you a full report of what actions have been made as well as make recommendations on how to proceed.
Costs can vary, but the typical eviction is $500 for attorney fees and $120 to serve the tenants. Both the eviction costs and the service to the tenants are a cost that is passed onto the tenant. Sometimes they have enough deposit to cover the costs, other times we have to get a judgment against them and begin collections.
Many companies have what they call an Eviction Protection Plan. The property manager deducts a small fee, like $5, each and every month. If and when the tenants need to be evicted, the property manager pays all costs related to the eviction. The main reason property owners like Eviction Protection is that it provides piece of mind. The main reason property managers choose to provide eviction protection is because they usually collect more money in fees than what they pay out in eviction costs.
Madison Real Estate and Property Management, Inc. currently does not offer Eviction Protection because our eviction rate since conception is less than a tenth of 1%. So in our opinion, it doesn’t make sense to offer the service. However, if this is something you feel very strongly about, please go ahead and make that known and we’d be happy to contact all of our owners and find out how many are willing to participate and what the proposed costs would be.
Because Madison Real Estate and Property Management, Inc.’s tenant screening is so thorough, tenant damages are limited. However, even with the strictest of criteria, things happen. The hope is that their security deposit will cover the damages, but unfortunately the market has caused security deposit amounts to drop and in many cases there won’t be enough to pay for the damages. In that event, we get a judgment and collect the funds in small amounts over a period of years. Basically, this concern is why our acceptance criteria is as strict as it is. It can take months of rent to cover the costs of one bad tenant. This is also why more and more landlords are turning to professional property managers to manage their rentals.
The property management company is a neutral third party. It’s one of the reasons that tenants come to a property manager. In today’s economic environment, they want to make sure they know that their security deposit is safe.
Madison Real Estate and Property Management, Inc. wants to focus on managing your rental. That is our expertise. Additionally, we found that by hiring contractors that specialize in that specific trade, the quality is much better. And because we give them so much work, we are able to negotiate better prices. Additionally, we have a minimum of 3 contractors per trade, so their ability to respond immediately is much better. Ever heard the saying, “He’s a Jack of all trades, master of none”? Far too often we see unlicensed guys in a truck fixing things they have no business fixing. Our way gets it done right the first time and at a reasonable cost.
Trust us; you don’t want to do that. These professional cleaning companies have the experience, tools, and chemicals to get the job done quicker and better. Additionally, cleaning a vacant unit is just way different than cleaning an occupied and furnished home. What could take you days, or even a week to clean, can take one of our crews of just a matter of hours. The sooner we have your rental property looking good and ready for a new tenant, the sooner we can get it rented. Trust us, you are money and time ahead by allowing the professionals to take care of it.
According to the American Pet Products Manufacturers Association, 63% of Americans have at least one pet. If you don’t accept pets in your rental you automatically disqualify 63% of your applicants. Sometimes after a rental sits vacant for an extended amount of time, the owners change their mind and agree to accept pets. Then almost immediately, the vacancy is filled. Perhaps they lost hundreds or thousands of dollars in lost rent while waiting for a tenant. That lost rent probably exceeds any possible damage caused by the pet.
If your rental property is a 4-plex or larger, we typically advise you only accept small pets because generally the common grounds are small. If your rental property is a single family home or duplex, then we advise that you consider all types and sizes of pets.
If the property owner should decide to allow pets, we have a very strict pet policy that includes an increased security deposit and additional pet rent that goes to the property owner.
Some owners have strong allergies to certain kinds of pets while others just won’t be able to sleep at night knowing they have a 75 pound Labrador in their home. No problem, we completely understand and we will find good tenants who do not have pets and we will ensure that they comply with that rule.
Additionally, some pet owners simply neglect to care for their pet and damages occur. Madison Real Estate and Property Management, Inc. will certainly hold the tenants accountable for these damages and the costs, but if the security deposit isn’t enough to cover them, it will be a slow process to recover them. So we totally understand if the property owner believes that the negatives outweigh the positives.
Tenants expect rentals to include refrigerators. It’s becoming even more and more common for home owners who sell their house to also include the refrigerator. Because of this expectation we highly recommend your rental be equipped with a refrigerator that is comparable in style and quality of the home. You don’t want to put a $500 white refrigerator in a $300,000 home with stainless appliances. Additionally, rentals with refrigerators will rent quicker.
You do not need to provide a washer/dryer. It makes more sense not to have washer/dryers for single family homes as most house renters have their own set.
On the other hand having w/d sets available for apartment dwellers is usually a good idea. We have a good inventory of multi-family housing with and without w/d sets.
Pros to including a washer and dryer:
By providing a washer and dryer, you reduce the risk of damage due to moving in and out. Additionally, tenants tend to want to hook up their own washer and dryer and it is common not to do it correctly. So you remove the risk of water damage and fire risks by providing a washer and dryer properly connected. Lastly, a tenant who does not have a washer and dryer is more likely to rent your property before renting another property just like it, but doesn’t include a washer and dryer.
Cons to including a washer and dryer:
Because you supplied the washer and dryer, you become responsible for the maintenance and upkeep of the appliances. Any water damaged caused by failed parts will be solely the property owners. Although there are far more tenants who don’t own their own washer and dryer, there are renters who do. If they own their own, they will want to use them. What do you do with the provided washer and dryer in this case?
There just isn’t a good way to protect your personal property nor is there a good way to prove whether the tenant damaged it or not. In most cases the tenants would prefer not to have your personal property at the house as it takes away room to store their own property. Additionally, the tenants don’t want to be responsible for the property owner’s personal property nor do they want to be concerned that the property owner will someday come to the house without notice to check or collect their personal property.
We’re sorry, but Madison Real Estate and Property Management, Inc. does not have the expertise in managing furnished homes. We’d be happy to refer you to a property manager in the area that does.
We’ll start showing the property as soon as we have the property under contract. But you know the old saying, “first impressions are lasting impressions”. The better the property looks, the better the chances of it renting out. We’ll do our best to help them imagine what it will look like once completed, but the truth is, you’ll want to get the repairs done as soon as possible and not be disappointed if no one makes application until the work is complete.
The term of the lease can depend on the property owners own needs. But if the rental is an investment property, the property owner is typically going to want a 6-12 month lease. However, the time of the year does play a factor. For example, if Madison Real Estate and Property Management, Inc. fills the vacancy in November, a 12-month lease would end in December and if the tenants decide not to renew the lease, the property owner is looking at filling a vacancy in the worse month possible. So Madison Real Estate and Property Management, Inc. encourages leases to expire in any months outside of September, October, November, December, and January.
Depending on the property owner’s needs and the current market conditions a short term lease may be a good alternative. Sometimes the property owner is looking for a long term lease and then along comes a tenant wanting a short term lease because they are having a home built or they just moved into the area and want to rent for awhile before they buy. If that is the case, Madison Real Estate and Property Management, Inc. may actually recommend that the property owner sign a short term lease.
A person building a home is an ideal tenant. They have good income, good credit, and because they only plan on living in the house a few months, they typically don’t hang any pictures or anything. Also, these type of tenants generally know how to care for a home. Additionally, it has been our experience that they actually end up staying longer. Because the renters sign a short term lease, we keep the property listed and typically can find a long term tenant to take possession immediately after the current tenants vacate. Lastly, Madison Real Estate and Property Management, Inc. requires a rent increase of a minimum of 5% of the market rent.
Unlike most states, Washington does not require property managers to be licensed real estate agents. Because of that, rentals are not listed on the MLS and leasing commissions are not offered. That’s unfortunate because if leasing commissions were offered on the MLS, you would not only have Madison Real Estate and Property Management, Inc. trying to rent your property out, but you would have over 2,000 other real estate agents in the area trying to do the same thing.
We do however offer referral fees. Should someone refer us a tenant who is accepted, we will pay them a referral fee of $100, which is paid by the property owner. Typically this is a win-win scenario as it gets the property owner, the person making the referral is compensated, and because the typical leasing fee is equal to one month’s rent, the referral fee is of great value to the property owner.
Madison Real Estate and Property Management, Inc. tracks our lease sources. Signs are often the number one cause for a lease. You want people driving by to know this is the house for rent. Tenants often will want to drive by the rental before actually making an appointment to see it. If there is no sign, many assume that it has been rented. Additionally, your neighbors can tell their friends and family members about it. Also, the sign holds our sign riders and flyer box.
Flyers allow us to give a description of the property so that people who are walking or driving by can grab a flyer. It’s an easy way for them to pull information, not forget about it, and be able to pass it along.
Madison Real Estate and Property Management, Inc. has hundreds of phone numbers and we assign each property with its own phone number. When prospective tenants call after hours or when all leasing agents are on the phone assisting others, they can hear a brief description of the property. Additionally, we can track the calls this way too. So we know who is calling and when. It helps us with follow up, plus if we see very few calls, we know there is a problem and can address it.
We’re happily oblige, but our marketing is way too powerful and they’re going to find out anyways. So, the property owner might as well take advantage of a great lead generator right off the bat.
Madison Real Estate and Property Management, Inc. installs lockboxes on all of our vacant properties. That way, if we get a call from an interested party, our leasing agent who is showing a property down the street can just drive over, access the lockbox and show the property. Otherwise, we would have to delay the showing until the leasing agent had time to return to the office to get a key and drive back out to the property. Additionally, all of our contractors utilize the lock box to access the rental property to perform the necessary turnover.
If the property is a multi-family building, then yes, you should hire someone to care for the yard. Tenants who choose to live in multi-family buildings expect yard care to be provided. Very few have the equipment and almost all lack the skills to properly care for the property.
Single family homes are different. In the Spokane market, the tenants typically care for the yard. Some do a great job, most do an average job, and some do a poor job. If your home has elaborate and high maintenance landscaping, we highly recommend that the property owner pay to have the yard care provided by a professional. Depending on the rent range, we often can pass this cost onto the tenant.
Because you want to make sure that the person doing the work is a professional and that the work is done to your standards. Pool equipment is very expensive. If it breaks you’re going to say it was the tenant’s fault. They’re going to say that the equipment was faulty. It’s a no win situation.
Madison Real Estate and Property Management, Inc. will gladly pay your mortgage, your HOA dues, hazard insurance, and even your property taxes at no extra charge. You don’t want these bills paid late, and we can’t always rely on the rent to be paid on the first, so we will require these funds in advance and will hold your reserves to an amount equal to the cost of these expenses.
Madison Real Estate and Property Management, Inc. has grown to be a large company because our reputation and because our clients are always referring our services. Regardless of the number of properties Madison Real Estate and Property Management, Inc. manages, our employee to property ratio is probably the smallest in town. We average 65 units to one employee, whereas most companies devote a minimum of 100 units to one employee. There are even companies out there with up to 200 units per employee. So we are actually in a better position to provide that personal service that most investors look for. Additionally, Madison Real Estate and Property Management, Inc. became a large company because of our reputation and because our clients are always referring our services.
Lastly, because of our size, our advertising campaigns are much greater, so our lead generation is much greater as well.
Eric Bessett RMP® is a licensed broker. Eric specializes in investment properties with a majority of his sales being smaller multi-family properties and single family homes. To learn more about Eric, please contact him at Eric@MadisonSpokane.com.
Madison Real Estate and Property Management, Inc.’s core business is residential property management. Our owner, Eric Bessett RMP® is a licensed broker and does assist many of our clients with their investment needs when buying or selling. Being as knowledgeable as he is in property management becomes very valuable as investors try to determine location, what true market rents are, and what to expect for income and expenses. The relationship with most sales agents ends upon the sale. Eric’s relationship continues throughout the duration of the investment. Knowing that, Eric is going to only recommend properties that he feels confident that will perform as you expect them to. It is in our best interest to only select the best investment properties to manage.
“I see that Eric offers a program to Madison Real Estate and Property Management, Inc. tenant’s that assists them in buying homes. I feel that this is a conflict of interest. I don’t want my tenant buying a home, I want them renting from me forever.”
The above statement is very common and without fully understanding the program, it is certainly warranted. Let me explain:
First, when a tenant decides to buy a home, they are going to do it. By being enrolled in Eric’s Home Ownership Program, we can control the circumstances so that the property owner isn’t hurt. For example, Eric will not allow them to break the lease, unless the property owner agrees.
Second, all tenants hope to someday purchase a home. It’s the American dream. So many tenants believe that paying rent is throwing money out the window. Madison Real Estate and Property Management, Inc. is able to turn that around and say, by renting from us, you aren’t throwing money out; you are investing in a future. At no cost to the tenant or the owner, Madison Real Estate and Property Management, Inc. offers a significant credit towards the purchase of a home by just signing the lease. Initially, they receive additional credits for each month in which they pay their rent on time and have no lease violations. Since Madison Real Estate and Property Management, Inc. is the only company that offers this program in all of Washington, tenants actually seek us out. And the tenants that do seek us out tend to be better qualified tenants. So our property owners benefit by having better tenants.
Third, because the tenant only receives credit the months they pay their rent on time, our program encourages on time payment. On time payments are good for the property owner.
Fourth, the renters only get credit if they have no lease violations. Again, this is to the property owner’s benefit. This program encourages tenants to comply with the lease terms and properly care for the property owner’s rental property.
Fifth, the tenant loses any and all credits should they decide to leave. So this program encourages tenants to continually renew their lease. Knowing this, Madison Real Estate and Property Management, Inc. begins sending tenants renewal notices 3 months prior to the end of their lease. Within our renewal notices, we remind them of their Home Ownership Program credit and remind them that if they should choose to vacate, they lose that credit. In tenant’s eyes, they see that vacating could cost them thousands of dollars. So, they tend to renew.
Additionally, Madison Real Estate and Property Management, Inc. currently is the only company in all of Washington that offers this program. Tenants hate the idea of throwing money out the window. So many tenants actually seek Madison Real Estate and Property Management, Inc. out because of this program. Because of the benefits of this program, many renters will choose one of our rentals over another company’s.
The landlord business has drastically changed in recent years. Within these FAQs, we have described our screening process. Because of new credit reporting laws, property owners do not have access to these resources and if they did, the cost would be prohibitive. Madison Real Estate and Property Management, Inc. screens dozens of potential tenants per year and because of that volume, we pay reasonable fees. Additionally, new credit reporting laws put huge responsibilities and penalties on all landlords regarding the safe keeping of renter’s personal information. Identity theft is a huge problem and because landlord’s applications include all of the information needed to steal one’s identity, they are required to follow certain rules to secure it. If a tenant of yours identity is stolen and you cannot prove that you followed the rules in safeguarding that information, you could be held liable to the damages to the tenant, which could be thousands upon thousands of dollars.
Risk. Certainly the credit information above puts the landlord at risk, but there are many more. There is HUD who enforces the Fair Housing laws. But there are also Fair Housing Advocates who receive Federal funds to test landlords to ensure that they are following Fair Housing laws. I honestly believe that most landlords out there don’t purposely discriminate, but because they are not aware of the laws, they often get nailed for violating fair housing. There are dozens of common mistakes made by landlords unaware of Fair Housing Laws, but a common one is denying an applicant who has a dog, or maybe a cat, because you do not accept pets for your property. If the renter’s dog or cat is a support or companion animal, you cannot just flat out deny them. Additionally, you cannot charge any additional fees or collect extra deposits. A local Fair Housing Advocate seeks out $20,000 in damages per complaint. Is it worth the risk to self manage?
There are plenty of other risks involved. The fact is that Madison Real Estate and Property Management, Inc. is a professional company. Our owner, Eric Bessett, has been managing property for almost two decades and will undergo dozens of hours of education each and every year to stay on top of laws and regulations related to managing rental property. That much training is far too costly for an individual home owner to endure.
Lastly, many owners simply look at the monthly management fees and look at a way to remove that expense. This is short sighted. In the long run, professional management will add to your bottom line, not deduct.
As a professional property manager, we are required to hold all funds in a trust account as well as abide by all state laws regarding the holding and refunding of the tenant’s security deposit.
Yes and No. 99% of our owners direct Madison Real Estate and Property Management, Inc. to handle all repairs because of our volume, we get discounted rates and we have a long list of professionals who can jump right on the job and get it done. Because of this, we have developed systems so that these repairs are done timely, cost effective, and with professional workmanship. So when an owner requests to do work, it’s outside of our systems and the opportunity for error is greater.
With that said, we have had some owners that are professional tradesmen, such as an owner of a heating and cooling company. In this case, it makes sense to utilize the property owner’s own company to service their rental property. In these cases, we do require all of the paperwork to include licenses and insurances as we do from all of our other vendors. However, in the case of an afterhours call, we cannot guarantee that the owner or owner’s company will be called, as these calls are made afterhours and the on-call person does not always have access to the computer system. In such event, they will call our primary on-call vendor.
Rent concessions are market driven. When we have a vacancy and other rentals in the immediate area are available, we will shop the competition. If comparable properties are offering a lower rent or move-in incentive, we will either recommend a lower rent or a move-in incentive. Why? Because a majority of the leads come from internet advertising. Most internet listing sites have a search field and list properties matching the tenant’s criteria by order of rent. The first property that meets their needs at the lower rent, wins. Additionally prospective tenants look for the lowest move-in costs. So they will scan the results looking for move-in specials and will call on those properties first.
In the current market, Madison Real Estate and Property Management, Inc. has some standard incentives. One is that we offer to credit the tenant’s application fee back to them, if they submit their application within the same day of the showing. The credit is posted towards their first month’s rent, only if their application is approved and they execute a lease with us. What this does is encourages the prospective tenants to apply right then and there, because if they don’t, that provides more opportunity to find something cheaper, maybe something with a move-in special, etc. This trick has doubled our lease conversion rate upon showing over the past few years.
Another one of our standard practices is to offer lease renewal incentives. Unfortunately, as a tenant’s lease comes close to the end, they like to take a look at listings to see how rents are. Often times they’ll come across a property with perhaps lower rent or worse yet, a large move-in incentive. Their short-sightedness tempts them to take advantage of these offers, thinking it will save them money. They forget that if they move, they have to pay another deposit, rent a moving van, pay utility transfers, and all the other costs associated to moving. So three months prior to the term of their lease, we offer an incentive to renew. The amount of the incentive changes as market conditions change. But in all cases, the amount of the incentive is a fraction of the cost of a turnover and the possibility of any lost rents between tenants. It is a very successful program.
Madison Real Estate and Property Management, Inc. has the property owner’s best interests in mind. We know the Spokane area market very well. We evaluate trends of our own inventory on a weekly basis. Additionally, we are involved in surveys that report average rents and vacancy by category. We are proactive, not reactive and that is how we keep our vacancy rate as low as we do.
Lastly, when considering rent concessions and incentives, look long term. A small decrease in rent or move-in credit that gets the property rented 4-6 weeks faster should more than offset the lower rent or incentive.
The lease is a legal and binding contract. If they communicate to Madison Real Estate and Property Management, Inc. their desire to break their lease, we will first attempt to talk them out of it, due to the expense. Furthermore we will work with them to find replacement tenants so that there is no lost rent between tenants, which saves the outgoing tenants money and ultimately the property owner.
However, a small percentage of tenants do break their lease. In this case, Madison Real Estate and Property Management, Inc. will get the property in rent condition and find a replacement tenant. The outgoing tenants will be billed for all past due rents, any advertising costs, utility costs, and any other fees or damages caused by their breach of contract.
Madison Real Estate and Property Management, Inc. will turn their account over to an accredited collection company, who will eventually get a judgment and garnish wages. The property owners will eventually, and probably slowly, get their money.
If we have a qualified co-signer, the chances of collecting all past due rents and fees is greater as most co-signers have excellent credit and would do about anything to protect their credit.
Madison Real Estate and Property Management, Inc. requires reserves for each of the properties managed. The reserve funds are there so that repairs and bills can be paid after rents have been dispersed. As stated above, Madison Real Estate and Property Management, Inc. is happy to pay mortgages, HOA dues, property taxes, hazard insurance premiums, and any property related bills at no additional costs to the property owner. However, we do require reserves equal to these funds so that the bills can be paid on time. A full accounting of reserve funds are provided on each statement each and every month.
Madison Real Estate and Property Management, Inc. utilizes state-of-the-art property management specific software. It is impossible to list all of the bells and whistles, but here are just a few: on-line owner and tenant statements, direct deposit for rents and owner distributions, work order module, asset tracking, and integration with our website.
A recent National Association of Realtors survey stated that more than 94% of respondents want full-motion video. Additionally, most leasing leads are generated by internet listings and since Madison Real Estate and Property Management, Inc. is one of the few Spokane area property management companies that offer virtual tours, our lead generation is much greater. Also, our owner’s don’t pay for the virtual tours. This is a free service provided by our company because it not only helps our property owner, but it also helps us, as it helps us show your property 24 hours a day, 7 days a week, 365 days a year.
Madison Real Estate and Property Management, Inc. feeds to dozens of rental internet listings sites. Additionally, our own website ranks very high on the search engines. It is impossible to search for a rental in Spokane area on the internet and not come across our listings.
Our company is departmentalized, which means we have employees who are assigned certain tasks. Similar to an assembly line, this creates efficiency and higher quality. We have employees whose sole responsibility is to show properties. That’s their expertise. We have an accounting department that specializes in accounting, and so on. The end result is experts focusing on their one role and doing it better and faster than anyone else.
This is in contrast to how many property managers handle their accounts. Most hire independent contractors to manage a portfolio of properties. That sole person is responsible for all showings, coordinating maintenance, paying bills, creating statements, screening their tenants, and many other duties. Since no one person can be available all day, every day, we allocate our resources so that as a company, we can be available all day, every day.
Madison Real Estate and Property Management, Inc. uses social media, like Facebook, to stay in front of our target market. Our target market and their generation have chosen to use social media as their mode of communication. Communication is key so we adapt as trends change. Please check out our Facebook page at: www.facebook.com/MadisonSpokane.
Technology has been a huge factor in the property management industry. Our property management software alone provides the structure and process to keep us very organized and able to find necessary information very quickly. We can access our data anywhere there is an internet connection. Our move-in and move-out inspections are computerized. We utilize automated emails to communicate to owners and tenants when important events happen, such as a lease renewal. Our software integrates with our website, which is basic in appearance, but very advanced in function. Our owners can access their account 24/7 from any location in the world. Tenants can pay their rent online or set up auto debit. Owners receive on-line statements as well as an automatic deposit of the monthly proceeds. Also, our website automatically feeds dozens of other websites to include Craigslist.
Madison Real Estate and Property Management, Inc. does a number of things to track the sources of our leads as well as the source that creates a signed lease. Our rental application asks the tenants how they found out about the property and that information is tracked. Also, our website and several of the other sites that we advertise on, track the number of clicks and views. Our system also tracks the number of calls, the number of showings and the number of applications received. So we can tell what advertising is working as well as any trends. For example, if we see that anyone property is receiving a lot of calls, a lot of website views, and a lot of showings, but no applications, we know there is a problem. It’s our job to identify that problem. Is it price or is it the junkyard across the street? It could be a number of things, but we utilize the data to determine what it is and what we can do to improve the lead to lease conversion.
Our property owners login from anywhere that there is an internet connection at anytime to view their statement. Additionally, an email is sent once your most recent statement is uploaded to the website to include a link to our blog so that you can be updated to the current market trends and any changes we’ve made.
Once you receive the email indicating that your statement is ready, you can then check your checking account to see the funds automatically deposits. Depending on your bank, this may take up to 48 hours from the time we initiated the automatic deposit.
Legally, the tenant is obligated to pay the rent through the term of the rental agreement. Additionally, while our management agreement is still in effect, it is our responsibility to continue to pursue that rent on the property owner’s behalf. However, it is possible that a tenant will falsely believe that because the mortgage is not being paid, they are no longer required to pay rent. Therefore we do have a foreclosure clause in both our management agreement and our rental agreement so that all parties understand their responsibilities and how Madison Real Estate and Property Management, Inc. will handle the issue. Although we are completely prepared for such an event, we sincerely hope that never becomes an issue. If it does, please be sure to contact us so that we can explore some of your options.
Fair Housing laws and their enforcement and subsequent penalties for not abiding them can be very tricky. We have taken over many properties that were self-managed, because after being fined for violating Fair Housing Laws, they came to us to manage. When you listen to their stories, we get the impression that they did not set out to intentionally discriminate, but because their selection process was not consistent and left room for interpretation, they were found guilty. We are trained in Fair Housing Laws. We offer an application to each and every person that makes inquiry. We process every application. And we accept or deny applicants based on our acceptance criteria.
If you have a friend or a relative that you want to place in the property and you make that known before we begin marketing it to the public, which is your prerogative. We do however still require an application along with the credit and criminal background checks.
Be sure to communicate with your insurance agent that the property is a non-owner occupied rental property. There are additional riders and coverage’s that do not cost much that provide you with added coverage. The most important is the ability to recover lost rents. A common example is a severe water loss or fire, which requires the tenants to vacate in order to make the necessary repairs. With the proper coverage, your insurance company will cover the damages plus the lost rents, as well as the tenant’s temporary housing costs.
If the property is a multi-family building, then you definitely want to sell it fully occupied. Investment properties’ value is directly related to its potential income. If you decide to sell, please alert us before you commit as there are a number of things that we can do on our side to make it successful.
If the property is a single family home, you can sell it while the tenants are occupying the property, but depending on when the tenant’s lease expires, there are some things to consider. The best thing to do is get the property manager involved during the decision process so that your efforts are not wasted. If the tenants are on a long term lease, both the seller and the buyer need to understand the terms of a lease when it comes to a sale. We can help. Also, if the tenant is on a long term lease, they most likely will not want to accommodate showing after showing and they certainly are not going to want to allow a lockbox. Again, we have ways of working these things out. There are many other items that need to be discussed and worked out, so please call us ahead of time and not do what most do, which is not call us at all and we find out after an angry tenant calls refusing to pay rent until the FOR SALE sign is removed.
This is also a good time to remind you that the owner of Madison Real Estate and Property Management, Inc. is a licensed real estate broker in Washington. When it comes time to sell, there is merit in talking to Eric and considering his real estate services. Think about it, Madison Real Estate and Property Management, Inc. has a good relationship with the tenant(s), we intimately know the property, we already have all of the information needed to list the property, and because Eric does this over and over, he has the skills to work with the tenants to make this a success. He may even already have a buyer in mind.
Unfortunately, the property owner’s mortgage or other expenses are completely unrelated to what the rental market will bear. As described above, Madison Real Estate and Property Management, Inc. has access to the necessary tools to accurately assess market rent for your property. If the current market conditions don’t allow you to cover all expenses, you need to decide if you should sell, or prepare to cover the difference until the market improves. We are willing to attempt a higher than market rent, but only if the property owner agrees to lower rent if we are unable to fill the vacancy at the higher rate.
This is a common request. We are happy to describe our services and how we operate and if there appears to be a good match, we can go to the next step. Also, maybe you can describe the issues you are having and perhaps we can provide some information to help you resolve those differences. But if your mind is already made up to make a change, there are a few matters you have to consider and take care of. Review your current management agreement. Has it expired, automatically renewed, is there a termination fee, etc. Then you will want to contact your current property manager and discuss your issues and perhaps express your desire to change management companies. If they view the relationship as you do, they very well may require no notice and mutually agree to terminate. However, there are many companies, who will hold you to the strict terms of the contract. So you need to iron these things out. Once a date is determined, then you and Madison Real Estate and Property Management, Inc. can finalize our agreements to manage your property.
We allow and actually require tenants to perform some troubleshooting and very minor repairs, such as unjamming a garbage disposal, unclogging a toilet, and replacing the furnace filters. We provide some guidelines and even some videos on our Maintenance FAQs. However, neither the property owner nor Madison Real Estate and Property Management, Inc. wants our tenants taking the risk of hurting themselves. We want repairs completed by a properly licensed and fully insured professional who will do the job right, as well as warranty their work. We’ve seen plenty of unauthorized tenant repairs and in most cases they are no Bob Vila!
Washington Laws and the Code of Ethics and Standards of Professionalism that Madison Real Estate and Property Management, Inc. follows does not allow us to do so. The security deposit is there to cover cleaning or damages to the property. However, upon move-out, we can apply their deposit towards past due fees to include rents.
We are currently working on questions for this page. If you have a maintenance issue please do the following:
For Fire, Natural Gas, Natural Disasters or other true emergencies, call 911 First!
If this is an after-hours urgent maintenance item, please call our 24 hour emergency at 509-465-9052 and as soon as the greeting begins, press “1” or, you can dial 855.559.5525. Examples of urgent matters are active water flooding, sewage back-up, or anything you believe to be dangerous to your health that can’t wait until the next business day.
For faster non-urgent service, please submit your maintenance request through the Tenant portal. All non-urgent matters will be responded to within 48 hours.
For the most part, all of the properties listed on our website are available to rent. However we do not remove listings from our website until the lease is signed. So it is possible that we have approved rental applications on a property, but because we have not signed the lease and have not collected all funds owed, we keep them listed. Also, some properties that are part of a larger complex always remain on our website. These properties are always in high demand, so we keep them listed to create a waiting list so that you don’t miss out when one comes available. If you find a property that you are interested in and find out that it is no longer available, our leasing agents will gladly tell you about other properties available or other properties coming on the market soon.
Go to the I’m A Renter page on this website, select one of the properties and then click on the “Apply Now” button.
A full description of our application qualifications can be found on the For Rent page on this website under the heading “Rental Criteria.”
If you have no or low credit, have no or limited rental history or have an income ratio lower than our normal standard, you may be able to use an approved co-signer to move into one of our properties.
Yes, and Madison Real Estate and Property Management, Inc. treat students like anyone else. The student applicant must still qualify under the guidelines for the property being applied for. We will consider all forms of income, including student loans and grants. Some properties may take co-signers to qualify for lack of income in addition to lack of credit and rental references. Just like regular co-signers, the co-signer for a student must qualify in place of the applicant.
Most applications take 48 to 72 hours as we do hire a professional screening company to verify employment, income, rental history, credit, and check for any criminal history. The most frequent delays result from the professional screening company not being able to contact or get a return call from current and former landlords or employers. You may want to contact them ahead of time to let them know they will be receiving a call and encourage them to return it promptly. The second most frequent cause of delay is the applicant not getting in additional information in a timely manner.
You will be contacted immediately once you application has been processed and we receive the results. Madison Real Estate and Property Management, Inc. will email or call the primary contact once the results are received. We need ONE CONTACT per household. We cannot call every roommate.
Put your special circumstances in writing with your application. It does no good to explain your situation to our leasing agent or receptionist since they do not process applications. Please be as detailed as possible and we will follow up with any questions we may have. Please be aware that Madison Real Estate and Property Management, Inc. strictly adheres to Fair Housing laws and while we may take special circumstances into consideration, we must apply our rental criteria uniformly and evenly to each prospective tenant.
Under the heading Reasonable Accommodations, Madison Real Estate and Property Management, Inc. is happy to accommodate Reasonable Modification requests.
A Reasonable Modification is an alteration to the physical premises allowing a person with a disability to overcome obstacles that interfere with their use of the dwelling.
Because some modifications may require licensing and permits, let Madison Real Estate and Property Management, Inc. know specifically what changes you would like to make and we will discuss it with the property owner.
Unless the property is federally funded, the tenant is typically responsible for the costs incurred for the changes and bringing the property back to its original condition once the tenant moves away.
We prefer that you email us at Applications@MadisonSpokane.com. We will reply within one business day. We normally will only communicate with one applicant in your party or family. You can also call 509-465-9052.
Madison Real Estate and Property Management, Inc. understands that when you find something that you like, you want to hold it. If that is the case, here is what we require:
You must submit an application (go to the For Rent page and then click on the “Apply Now” button for the property in which you are interested) with the application fee in secured funds (no cash or personal checks).
You must pay the Holding Fee.
The contingency lease is a binding contract that legally obligates you to the property unless your application is denied. The tenant has 48 business hours to provide all documentation, and Madison Real Estate and Property Management, Inc. has 5 business days to let the tenant know if they are approved or not.
If you want to sign a 2-year lease, please just make that request and we’ll contact the property owner for approval. To extend a lease beyond 12 months, the lease must be notarized. An additional fee of $35 is charged to prepare and meet with the notary for a lease that extends beyond 12 months. Otherwise, our typical leases are 12 months.
No, our rental prices are set at market rents. However, if you absolutely do not agree, Madison Real Estate and Property Management, Inc. is willing to request a lower rent from the property owner after:
1. You provide an advertisement of a comparable rental showing a lower rent.
2. You submit your application and application fee.
If your application is approved, we will submit your request to the owner along with your comparable ad. However, we do ask that anyone considering this process first ask themselves if they are willing to risk losing the property while they try to negotiate the price.
Rent is due on the 1st of each month and is considered late at 4 PM on the 4th. Late fees are 10% of the monthly rental amount.
To avoid a penalty, rent must be paid online via ACH transfer or credit card. We do NOT accept cash, however cash payments can be made at third-party locations. Contact our office if you need to pay in cash.
Our office hours are by appointment Monday through Friday from 10:00 AM to 4:30 PM.
Please specify your rental address in the memo field of your check.
If you choose to pay other than online and incur a penalty, acceptable forms of rent payment are personal checks, Cashier’s Checks or Money Orders. We are unable to accept cash at the office.
Late fees are specified in your lease. If you are going to be late, please contact Accounting@MadisonSpokane.com immediately. Otherwise, Real Estate Madison Real Estate and Property Management, Inc. is required to begin multiple actions to collect rent, which will incur more fees as well as the possibility of being evicted. We don’t want to evict you anymore than you want to be evicted. So please, work with us if things get difficult.
Late fees are set to encourage on-time payment and discourage late rent. The property owner’s mortgage payment is due on the first and in most cases; they depend on the rental income to make that payment. Additionally, it takes a great deal of extra time and effort on our part to collect late rents.
There is additional time, effort, supplies and gas and travel time that goes into collecting late rents. This is extra work that we would prefer not doing, but if we have to do it, we need to be compensated for the extra work that we don’t have to put forth for tenants that pay on time.
A notice to pay rent or quit is a legal notice that rent is past due and that Madison Real Estate and Property Management, Inc. can begin the eviction process. If you get such a notice, please contact our office immediately to either correct an error on our part, or to communicate when you will have the rent paid in full.
Unfortunately this cannot be done as it creates an accounting nightmare, plus any late rent payment will incur a late fee. If you are late or expect to be late, the best thing to do is to contact our accounting department. Communication at this point is the key. You can contact our accounting office by email, Accounting@MadisonSpokane.com.
Absolutely. In fact, online rent payment is the only way we can 100% guarantee that you will never have to pay late fees, so long as you have the funds in your account when it pulls the rent out. Additionally, online rent payments are the only way to prevent paying a paper check penalty.
Online Rent Payments can be set up for one time or continual or continual auto debits from your checking account. Please go to the Tenant Portal sign in page of this website to set up this feature.
Madison Real Estate and Property Management, Inc. will supply one per unit. If the tenant wants to make their own copies for others, they can do so at their own expense. However, we do require all keys to be surrendered should you decide to move out.
Not every tenant or family uses the same amount of utilities. If the property owner were to pay utilities, they would have to increase the rent based on an average over a number of years. That wouldn’t be fair as each tenant uses utilities differently. Therefore the tenant’s pay their own utilities. If they are conservative, they pay less and if there are more tenants in the unit, they probably pay more. It is the fairest way to handle it.
For faster service, please submit your maintenance request to Maint@MadisonSpokane.com. In the subject line type “MAINT:” in capital letters followed by your property address and unit number if applicable. If it is urgent (leaking water, sewage back-up, etc) please follow-up with a phone call. All non-urgent matters will be responded to within 48 hours. Please utilize the Maintenance FAQs on our website and troubleshooting guide before submitting your maintenance request.
If you submit a non-urgent maintenance request, you will hear back from us within two business days. Urgent requests are responded to ASAP. Unless urgent, all maintenance requests must be in writing. If you have not heard from our office or our vendor within in three days, please contact Maint@MadisonSpokane.com or 509-465-9052.
If this is an after-hours urgent maintenance items occurs, please call our 24 hour emergency at 509-465-9052 and as soon as the greeting begins, press “1” or, you can dial 855.559.5525. Examples of urgent matters are active water flooding, fire, or anything you believe to be dangerous to your heath that can’t wait until the next business day.
*** For Fire, Natural Gas, Natural Disasters or other true emergencies, call 911 First! ***
Residents are responsible for maintaining heating filters and fresh smoke detector batteries and carbon monoxide batteries at all times. Light bulbs that are easily accessible also need to be maintained by the residents. In most situations, yard maintenance is required. Please refer to your individual residential lease.
Not without owners approval. If you want to do some planting please let us know ahead of time and we will work to get approval for you.
No, you should not make your own repairs and you should never deduct any amount from your rent, ever. Some minor repairs/troubleshooting should be done by the tenant, such as flipping a breaker or unclogging a toilet. But for the most part, tenants should not take the risk or liability in attempting their own repairs. For a list of repairs and troubleshooting that are approved, please visit our Maintenance FAQs. Since most repairs do require a professional who is licensed, bonded, and insured, please contact Madison Real Estate and Property Management, Inc. at Maint@MadisonSpokane.com to submit your maintenance needs.
Yes. You’ll enjoy the same benefits as the owner of the property would.
The property owner pays the Home Owner’s Association dues. However, it is very common for the Home Owner’s Association to send statements and other important notices to the rental address. If you receive such notices, please forward them to our office immediately.
Yes. Any and all changes or modifications to the property must be pre-approved after receiving your written request at Info@MadisonSpokane.com.
The short answer is YES. Renters still have exposure to the same types of losses a homeowner has. That is why there is a special type of homeowner’s insurance called renter’s insurance. Neither the property manager’s insurance policy or the home owner’s insurance policy covers tenants personal losses or liability.
Tenants are responsible for obtaining insurance for their personal property if they want to be covered in the event of fire, theft, water damage or other types of loss.
It is highly recommended that all residents carry enough insurance to cover themselves and their personal property. Please consult with your insurance agent for specific details. It’s cheap and we’ve seen far too many tenants not get reimbursed for personal property damages.
In addition to coverage for their personal property, a renter’s policy also provides liability coverage. Tenants may wonder why they need liability coverage when the landlord’s policy has it. The answer is simple: because the landlord’s insurance only covers landlord liability. It doesn’t cover the tenant’s liability. Renter’s insurance covers the tenant’s liability up to a set limit, as long as the tenant did not intentionally cause the loss. Liability coverage isn’t just limited to damage to others or others’ property that occurs inside the tenant’s residence. It also covers legal defense expenses and the renter’s liability outside the home. A common example we have seen is where a tenant moves in and hooks up the washer incorrectly, which floods the home. We have seen claims of up to $15,000. Because the tenants had insurance, the insurance paid it, instead of the tenants. Unfortunately, we have also had cases where the tenant didn’t have renter’s insurance and had to pay thousands of dollars out of pocket due to a simple error on their part. Remember, it is extremely cheap for the coverage provided and it protects YOU.
With proper notice, both the property owner and Madison Real Estate and Property Management, Inc. have the right to inspect the property. In some cases, the owner is actually required by the IRS and their insurance company to make at least one inspection per year.
Please contact us at Info@MadisonSpokane.com or 509-465-9052 after reviewing your rental agreement.
It is required that you provide written 30-day notice using Madison Real Estate and Property Management, Inc.’s official notice form. You can mail, email, fax, or hand deliver this. If you do not get verification of receipt within 3 business days, please contact our office immediately as we did not receive it.
Your rental agreement spells this out very clearly. Please read and then contact us at Info@MadisonSpokane.com to make the necessary changes.
No. This is stated in your lease.
Madison Real Estate and Property Management, Inc. is a professional, knowledgeable, and courteous property management company. We work very hard to provide the highest quality resident services. We use professional vendors (painters, handymen, plumbers, carpet cleaners, etc.) to ensure that your unit is in good condition. Additionally, we offer many services and conveniences (online application, online rent payment, auto-pay for rents, etc.) that our tenants enjoy and appreciate.
To remove rust stains use a solution of oxalic acid and water (refer to the manufacturer’s instructions for strength and mixing information). Oxalic acid can be purchased at most hardware stores.
Before cleaning the dishwasher, secure the power by flipping the breaker to the OFF position. Be sure to wear latex gloves to protect your skin. Dip a non-metal scrub brush into the acid solution and scour the stains.
Call a professional carpet cleaner right away. If they cannot get to you right away, keep the carpet wet until they can arrive. Madison Real Estate and Property Management, Inc. uses A Action Tech Inc. at 509-455-4125.
See our Maintenance FAQs for this and all maintenance/repair related issues.
First, scrape off and discard any extra wax that you can. Place a brown paper bag over the affected area. Rapidly move a hot iron back and forth over the area, switching to a new paper bag as needed. Remove as much crayon as you can in this manner. Allow the affected area to cool. Apply rubbing alcohol with a cotton ball, or use a commercially available product like the Tide to Go pen. For particularly set-in stains, dry-cleaning solvent can also be used. When stain removal is complete, end with a light overall cleansing using a mild pH neutral dish washing detergent diluted with water, and a final clear water rinse to completely remove remaining cleaning residue and stain solutions. Blot dry or use a wet/dry vacuum to remove excess moisture. For particularly low dense piles, you may be able to follow ironing with the use of a high quality plastic eraser. Lightly rub the crayon mark with the eraser, and vacuum up the residue. Unless the eraser or crayon has left greasy marks remaining on the carpet, you do not necessarily have to follow with any overall cleansing.
We’re so glad that you have chosen to stay. Just like your notice to vacate, your notice to stay needs to be in writing and sent to the office right away. The fastest approach would be to email your retraction to Info@MadisonSpokane.com or mail it to 910 N. Washington St., Suite #107, Spokane, WA 99201. There is a chance that we may have already secured new tenants, so once you have sent your retraction, you may also want to call to confirm its receipt and to make sure that the lease can be extended.
Yes. Your keys must be returned to the Madison Real Estate and Property Management, Inc. office by noon on the last day of occupancy to avoid additional charges. Our computer system charges rent until we enter in that keys have been received, so you do want to make sure that keys are surrendered to one of our employees.
No. We’re sorry, but the security deposit is to cover any cleaning or damages to the property and cannot be used for other reasons.
If you move out prior to your lease termination date, you are still responsible for rent and all utilities. It is Madison Real Estate and Property Management, Inc.’s suggestion that you contact us and turn in the keys early, allow us to do a turnover on the property and give us permission to advertise and show the property. If we find a replacement tenant before your lease terminates, any rents collected by the new tenant will be credited back to you. Our goal is to limit the number of lost rent days, so it is to our advantage and yours not to wait until the lease termination date to try to find replacement tenants. You benefit because we have found a replacement tenant which relieves you of any future rent and we benefit because we had no lost rent between tenants.
Unfortunately, not all carpet cleaners are the same. Also, some tenants have rented carpet cleaners from grocery stores or used residential cleaners and caused more harm than good. The property’s carpets were professional cleaned prior to your tenancy and must be cleaned again by a Madison Real Estate and Property Management, Inc. approved vendor.
Madison Real Estate and Property Management, Inc. would be happy to accommodate your holdover if it does not interfere with another tenant moving in to the home. Please email us at Info@MadisonSpokane.com or call 509-465-9052 to make sure that we have not selected new tenants. If not, then you must submit a written request with a specific holdover date. Once such a request is received, you will receive notification that the extension has been accepted or denied. You will be required to maintain the property and all utilities during the lease holdover period.
Each of the properties managed by Madison Real Estate and Property Management, Inc. is owned by a different owner. Each property owner has their own criteria. Some allow pets, while others do not. Some allow cats, but no dogs and vice-versa. If the listing on our website indicates that the property does not accept pets, the owner has already made their decision not to accept pets. If the listing indicates that the property does accept pets, please inquire if there are any limitations as to the number or type of pets. Typically, no more than two pets are allowed at any of our properties that do accept pets.
All Madison Real Estate and Property Management, Inc. properties accepts Assistance Animals as defined by HUD and no additional rent or deposit is required.
The property owner is handing you the keys to a property worth 100 to 300 times the cost of the security deposit. This is required to ensure some level of protection.
Unfortunately we cannot accept split payments. The security deposit is the tenant’s way of proving their ability to perform per the lease. Not having the funds to pay the security deposit up front is a sign that should hard times arise, non-payment of rent is likely.
Call our office to request permission and at that time we will be able to tell you of any changes in the policies regarding cable/satellite installation.
Your lease states the termination date of your rental agreement. If would like to re-confirm the termination date, please email us at Info@MadisonSpokane.com and we’ll gladly provide this information.
If the owner grants the request, they most likely will require a higher rent than renewing for another year, which is typically an increase of about 8% to 10%.
If done right, a lease break may only costs a few hundred dollars. If done wrong, it can cost you thousands. If your circumstances have changed where you think you may need to break your lease, contact Info@MadisonSpokane.com or 509-465-9052. We will assist you in either staying or the proper procedure if you need to vacate prior to your lease termination. Additionally, we will explain the possible costs for breaking your lease.
Any additional occupants that are 18 years and older, must submit an application and application fee to be approved. Madison Real Estate and Property Management, Inc. does this for your safety. We will conduct a full tenant screening. Neither you nor us want you to inadvertently choose a roommate that may harm you or the property and we want to verify they can pay their rent. If the results of the screening are acceptable, we can email you the documentation that needs signed or we can schedule a time for all of you to come in and sign the authorizing paperwork. A fee to add or change roommates may apply.
Any changes to the rental contract must be in writing. If you have someone that has moved out, it might be to your best interest to keep them on the lease, as they are as responsible for the rent payments as you are. However, if they have moved out or in the process of moving out, we simply need something in writing from both the departing tenant and the remaining tenant requesting the change. If the remaining tenants qualify on their own, we will gladly make the change. If they don’t, the remaining tenants may pay a higher deposit or keep the vacating tenant on the lease until it terminates. Madison Real Estate and Property Management, Inc. can email you the paperwork or you can schedule a time to come into the office to sign the new documents. Please contact Info@MadisonSpokane.com for these requests.
If you plan on vacating prior to your lease termination and have found replacement tenants, simply email us at Info@MadisonSpokane.com and let us know. Additionally, have the replacement tenants submit an application with an application fee. If they qualify, we’ll be happy to accommodate a new lease signing. The deposit and the move-in inspection report remain with the property, so the incoming and outgoing tenants need to resolve this between each other.
Per the rental agreement, your deposit will be refunded less any cleaning and damages, within 14 days of the time you vacated the property. Madison Real Estate and Property Management, Inc. recognizes the move-out date as the date in which all keys are returned to our office. If you fail to give proper notice and a forwarding address, your deposit will be mailed to your rental address with instructions to please forward.
In most cases, depending on how bad your credit is, we may be able to approve your rental application with a qualified co-signer or by paying a larger deposit. If your credit does not qualify you for any of those options, unfortunately, your application will be denied.
Yes, you may pay all of your rent in advance.
Applicants with certain criminal convictions, especially relating to violence or drugs, are declined. Additionally, applicants that lie on their application can be denied as well. Felons with certain disabilities can request an accommodation, which we would allow after verification.
First you need to apply to ensure that you meet our acceptance criteria such as credit and income. You may review Rental Criteria on this website. If you have a disability and wish to request an accommodation, please request so in writing at the time of application.
Madison Real Estate and Property Management, Inc. appreciates good tenants. However, the costs of owning and running a property increase each year (insurance, taxes, maintenance, legal, etc.). Therefore, we implement a small, reasonable increase each year so that the owner of your property may maintain it in acceptable condition during your residency.
Madison Real Estate and Property Management, Inc.’s application fee is $40.00 per adult occupying the property.
Madison Real Estate and Property Management, Inc. utilizes a 3rd party screening company to process all of our applications and the application fee goes towards those screening costs. Therefore, the application fees are non-refundable.
Many times an applicant has credit or income issues that cause an application denial. A co-signer is an easy fix. The co-signer needs to complete an application with an application fee. To qualify for a co-signer, they must have income that supports their current obligations plus the rental payment and strong credit.
If the co-signer wishes to be removed from the lease, contact our office about 3 months prior to the lease termination. We’ll review your payment history and credit report and if acceptable, you can renew without the co-signer.
If you are set up on electronic payment through AppFolio/Sage Payment Solutions and your electronic payment does not come thru, the problem is most likely due to insufficient funds in your account. Please contact Payment Solutions at 1-800-261-0240 to see what happened and what needs to happen to ensure that this doesn’t happen again. Next, please email Info@MadsionSpokane.com to explain the issue. If the problem was caused by Sage Payment Solutions, they will pay all late fees. If the problem was caused by the tenant, the tenant will be responsible for late fees and maybe a NSF fee. The rent needs to be paid, so you can request that Sage Payment Solutions re-run your account or you can submit a check or money order for the amount due.
Each of the properties managed by Madison Real Estate and Property Management, Inc. is owned by a different owner and each owner has a different opinion. If you are on Section 8, we recommend that you email us asking if this specific property owner accepts Section 8. If they do, feel free to apply. If they don’t, we will recommend any properties that are currently available that do.
Any animal that’s prescribed by a health care provider to people to do work, perform tasks or provide comfort for the benefit of an individual with a disability.
First you still need to apply to ensure that you meet our acceptance criteria such as credit, income, and criminal background. Our Rental Criteria is on our website for your review. We will also need a written notice from your health care provider confirming your disability and the need for an Assistance Animal.
Madison Real Estate and Property Management, Inc. charges late fees and we are sorry, but they cannot be waived as we must apply all policies fairly and evenly to all of our tenants. Please do communicate with us and keep us in the loop. Additionally, you will need to follow the Late Rent Procedures as outlined.
Per your lease agreement rent is due on the 1st of every month. If rent has not been received by 4:00 PM on the 4th day of the month (no exceptions for weekends, holidays, or postage delays), it is considered late and Tenant will be charged and agrees to pay the late fee described in their lease until rent is paid in full. If the 1st of the month falls on a holiday or weekend, rent is considered to be paid on time if received in the office by 4:00 PM the next business day.
Madison Real Estate and Property Management, Inc. follows the general 2-plus-1 rule accepted by HUD. That means two occupants per bedroom, plus one additional occupant per household. Occasionally a home may have an additional room that can be considered a bedroom under this rule. If your needs differ from this standard, simply make that request known and we will work with HUD and the property owner to accommodate you.
Most of us at Madison Real Estate and Property Management, Inc. have lost a pet and we know how devastating a loss of a pet can be. The terms and conditions of the rental agreement continue unchanged until it is renewed.
Rent is due on the 1st and late fees are accrued for all rents received after 4pm on the 4th day of each month. To avoid late fees, you should pay your rent before leaving, but if you can’t, please do contact us and let us know when rent will be paid so that we know and don’t serve an eviction notice.
The property owners can decide to sell the house at anytime. However, state laws would require the new owner to honor your lease agreement with Madison Real Estate and Property Management, Inc. So typically, when an owner decides to sell, they do so near or after the current lease expires. This is yet another reason why we encourage tenants to take advantage of our renewal program.
If the lender of any of our client’s properties initiates the foreclosure procedures, they will do so by posting a note on the property. If any such notice or communication is ever posted on the property, it is imperative that the tenants notify us immediately, as we will most likely be unaware.
Additionally, a foreclosure can take months to years to complete. So, for the most part, Madison Real Estate and Property Management, Inc. and the tenants just continue on like nothing ever happened. And lastly, congress passed the Protection of Tenants at Foreclosure Act that provides protection to tenants still in leases should the property actually get foreclosed upon.
Yes. Per Madison Real Estate and Property Management, Inc.’s management agreement, we are required to collect rents as the agent of the owner, until the property is no longer the owners’. Per the rental agreement, the tenant is required to pay rent until the term of the lease is fulfilled.
Per your rental agreement, treatment of household pests is the tenant’s responsibility. One way to minimize the possibility of pests is to keep a tidy home. Homes that are not so tidy, offer a food source as well as shelter for many pests. So if you discover any pests, your first step would be to do a thorough cleaning of the entire home. This eliminates the food source.
If the problem continues, most grocery or hardware stores carry traps and sprays that should resolve your problem in a few days. We find that ant traps can solve the problem in just a few days. These traps are filled with poisoned bait. The reason the ants are in your house is because they found food. The ant trap baits them, then they take the poisoned food back to the nest and they die. Some of the sprays are very good for spiders, roaches, and bed bugs. If the problem continues, please feel free to contact us. We’ll have to do an inspection to make sure that the home is tidy and see what remedies you had already tried and failed with.
[contact-form-7 id=”1063″ title=”Agreement”]
RENT DUE: All rents are due on the first day of the month. Some of our leases have a grace period. Any rent not received by 5:00 PM on the last day of the grace period is considered late and will incur a late fee. Rents can be paid on line, mailed to us, or dropped off at our office. There is a secure mail slot on our front door where rents can be dropped off 24/7.
LATE RENT: Any rent not received by 5:00 PM on the last day of the grace period (if any) is late and a late fee of 5% will be charged. Personal checks are not accepted after the 5th of the month. If your rent is late it must be paid with a cashier’s check or money order (payable to Gordon Property Management) and must include the late fee.
BOUNCED CHECKS: If your check is returned by the bank for non-sufficient funds, or for any reason, you will be charged a retuned check fee of $40.00 PLUS the late fee of 5%. Replacement checks must be paid with a cashier’s check or money order and must include the NSF fee and the late fee. Personal checks will not be accepted by any tenant who has had two checks returned by the bank.
AUTOMATIC PAYMENTS: If you choose, you can arrange for an automatic payment with your bank. You can also make online rent payments via our Online Tenant Portal. Click here to PAY RENT ONLINE NOW.
MOVING OUT: You must give 30 days written notice of your intent to move out. Once we receive your notice we will send you a move out packet with information regarding the pre-move out inspection and cleaning instructions.
MAINTENANCE REQUESTS: All requests for maintenance and repairs must be made through the TENANT PORTAL. You must give us permission to use our keys for entry or you must be home to let the repair person in.
After business hours, evenings and weekends we can only accommodate emergency repairs which are generally limited to plumbing emergencies and you will have to be home to meet the repair person. For after hour emergencies please call the office (415 554-8812) and our answering service will be able to assist you.
PLUMBING: Gordon Property Management will cover the cost of most plumbing repairs, however you should be aware that we do not cover the costs of repairs that are due to a tenants’ negligence or lack of care.
GARBAGE DISPOSALS: Gordon Property Management will not pay to clear jammed or frozen garbage disposals. This is the most common type of maintenance request and is almost always caused by misuse or overuse of the garbage disposal. They are delicate machines and are not intended to grind up many kinds of foods or a large volume of food. Use the garbage disposal at your own risk!
LOCKOUTS: If you lock yourself out of your apartment you will have to call a locksmith at your own expense.
EMERGENCY MAINTENANCE REQUESTS: For emergency repairs you may call the office (415) 554-8812 and then follow up by completing the form or logging into the portal.
After hour emergencies please call our answering service at (415) 554-8812.
We offer a wide range of housing options in the Spokane, WA area including outlying communities and rural areas. Please see our current inventory below. We look forward to serving you!
To view our rental criteria, click on the “Apply Now” button for the property in which you are interested. Rental criteria and FAQ’s are on the first page.
Before Applying: Required Information
Government issued ID, 2 most recent pay stubs (or 2 years tax returns if self-employed), pet photo taken with the applicant (if applicable) and landlord contact info for last 3 years. All adults aged 18+ must apply and pay a $57 application fee.
Common Reasons to be Declined
Evictions, unpaid balances due to landlords and/or property management companies, credit score beneath 500, insufficient income, unsatisfactory references, criminal convictions for crimes against persons or property and recent bankruptcies. Unqualified occupants, pets and/or vehicles can also be a reason for decline. Learn more by reading the Terms of Application Agreement segment of our application.
Please be aware that Madison Real Estate and Property Management, Inc. does not accept comprehensive reusable (“portable”) tenant screening reports.
First & Last Name
PRESIDENT / DESIGNATED BROKER
Eric started his property management career with one of the area’s largest and most prestigious property management firms. He specialized in large apartment complexes and managed portfolios in Spokane, WA and Kennewick, WA. Seeking to open his own business, he saw that the single family and small multi-family management space in Spokane was missing a high-touch, high-tech type of firm that delivered top-notch service and rapid response times. He endeavors to continually improve the firm by utilizing technology and high-energy team members with a commitment to service in order to provide an exceptional client experience.
Always believing education and industry involvement is critical to the success of his clients, Eric is a current member of the National Association of Property Managers (NARPM), Past-President of the local NARPM chapter, a member of the Institute for Real Estate Management (IREM), a member and the immediate Past-President of Independent Brokers of Spokane (IB) and is a member of the Professional Development Committee at the Spokane Association of Realtors (SAR).
Eric is a certified Residential Management Professional (RMP) through NARPM and will be receiving his Master Property Manager (MPM) designation through NARPM in 2019. This prestigious designation is held by less than 1% of real estate professionals.
In addition to his professional affiliations, Eric is a certified instructor with the Washington State Department of Licensing, Real Estate Division and has written and currently teaches a 3-Hour Continuing Education Credit / Clock Hour class titles Success Basics for Property Managers and Landlords.
Eric was born and raised in Ephrata, WA. He attended Big Bend Community College in Moses Lake, WA and received his B.A. in Education from Eastern Washington University. He currently resides in northwest Spokane with his wife and two children. In his off time he enjoys conversations on current events, is a political junkie, loves to drive, is an obsessive reader and is a huge fan of stand-up comedy. And of course… Go Zags!!! Go Eags!!! Go Cougs!!!
Fun Fact: Eric worked for a beekeeper in his youth and loves black jelly beans.
DIRECTOR OF PROPERTY MANAGEMENT
Candace came to Madison Real Estate from a career in Transportation & Logistics and Counseling. She spent 3 years working for US Bank’s Transportation department in Portland, OR where she managed a six state region and was responsible for coordination of moving the bank’s internal mall and customer checks. She took a quick 2.5 year break to work as a Corrections Counselor for Washington County’s Correctional system where she handled a caseload of 25-30 corrections residents. She created treatment plans and taught Cognitive skills courses. Candace then went to work with her brother at a same day courier logistics company, opening operations in FL, GA, TX, CA, WA and OR. She spent the next 10 years growing and managing this family business in California before deciding to move her family back to the Pacific Northwest.
Candace is a licensed Broker and currently working on her certification to become a Residential Management Professional (RMP) through NARPM. She is also trained in teaching Cognitive Skills courses.
Candace was raised in Ephrata, WA. She went on to play softball and graduate with a B.A. in Psychology and Sociology from the University of Puget Sound. She currently resides in Spokane Valley with her husband and son. In her off time she loves being outdoors, competing in triathlons, entertaining friends and family, working her Wildtree business and reading voraciously.
Fun Fact: Candace served ice-cream to Bill Clinton’s secret service team while he had dinner above her shop in Jackson Hole, Wyoming.
BUSINESS DEVELOPMENT MANAGER
Tara came to Madison Real Estate & Property Management after working for 17 years as a Business Development Manager in Real Estate Title and Escrow here in Spokane. Previously she worked as a Treatment Coordinator for an Orthodontist.
Tara is a licensed broker and has enjoyed the intricacies and challenges of the property management world. Tara is a member of The Spokane-Eastern Washington Women’s Council of Realtors, Independent Brokers, Spokane Mortgage Lenders Association, Spokane Association of Realtors Communications Committee and a member of the GSI and Airway Heights Chamber.
Tara was born and raised in Spokane and she loves the Pacific Northwest. She has been married for 35 years and loves to camp at Priest Lake and Deer Lake. She has one son who lives in Spokane and she is excited to become a Grandma for the first time in the near future. In her free time she can be found near water in the summer and being a sports fan in the winter. Go Cougs…Go Hawks…Go Zags!
Fun Fact: Tara will always be the first one in the lake in the spring and the last in the lake in the fall. The lake is her happy place!
Pam has a Degree in Business. She is also knowledgeable of Fair Housing Practices and RCW’s pertaining to property management.
Pam is from Missoula Montana. She worked in logistics at Sun Mountain Sports, a golf manufacturing company based in Missoula. During her spouse’s military career, she lived in Western Washington and Southern California and was employed as a school secretary. An employment opportunity brought her family to Spokane in 1997 where she worked in Social Services until joining the Madison Team in 2016. Pam spends her spare time with her family camping and fishing. She is also an avid knitter.
Fun Fact: Pam is a Star Wars and Harry Potter geek.
Erin started her career with Madison in April of 2015 as the Receptionist and has taken on many different job titles through the years, including Executive Assistant, Transaction Coordinator, Maintenance Coordinator and now is the Property Manager for the Red Team.
Erin received her Real Estate License in May of 2017 and is the Secretary for the Board of Independent Brokers of Spokane, as well as a Member of NARPM.
Erin was born and raised in Spokane and spends a lot of time at Priest Lake where her family has a cabin. She was recently engaged and plans to get married in May of 2020. Her and her Fiance own a triplex that they manage and remodel in their spare time. They also have two puppies (brother and sister) that keep them on their toes! Her and her pups LOVE to hike and take in the beauty of the PNW when life allows them the time to do so. She also loves reading epic fantasy books such as The Sword of Truth & The Wheel of Time series.
Erin attended Shadle Park High School where she played on the Varsity Soccer Team and was involved in the Running Start Program, which allowed her to attend Spokane Falls Community College and accumulate college credits while she was in High School. She attained her AA Degree from SFCC shortly after graduating from Shadle and transferred to EWU where she graduated with her Bachelors of Science in Biology.
Fun Fact: Erin and her Fiance named their doggos after characters from their favorite epic fantasy book series, The Wheel of Time. Their names are Perrin & Adora Aybara.
Brandy originally came to Madison Real Estate in 2013 where she started out as a Receptionist and a Field Agent. She has worked her way up in the property management field and is currently the Property Manager for the Blue Team.
Brandy recently received her Real Estate License in March of 2019 and is excited to pursue further advancement opportunities in the industry.
Brandy was born and raised in Spokane, WA. She has one son who is currently in high school, and two new nieces that keep her pretty busy in her spare time. She enjoys hiking with her family and their chubby dog on the weekends, or spending as much time as possible relaxing at a family BBQ or by the lake. Prior to starting her career with Madison Real Estate, Brandy obtained her certification as a Veterinary Assistant, and has a degree in Environmental Sciences in progress.
Fun Fact: Brandy has a twin sister.
Andrea came to Madison Real Estate after working for a background screening company where she verified education and degrees for colleges and universities across the United States.
She was born and raised in Spokane, WA and spent short periods of her younger years in Bonners Ferry, ID. After graduating high school from Joel E. Ferris High School in 2011 she quickly entered dental assisting school and graduated in May 2012. Once becoming a Registered Dental Assistant, she received a job offer from the dental office whom she did her externship with and picked up a second job as a barista. Eventually Andrea moved on from both jobs and became a first-time mother to McKenna in 2015. After the birth of her first daughter she made the move to transition back into office work where she worked for a background screening company until going to work for Madison. In 2018 she had her second daughter, McKenleigh
Andrea is excited by the daily challenges of the property management field and loves every second of it!
Fun Fact: Andrea has 7 tattoos which include a full sleeve on her right arm!
Prior to joining the team at Madison, John served 22 years in the United States Air Force from 1987 – 2009 serving as a Security Forces member and later retrained as a C-17A loadmaster. At the end of his career, he held the position of Chief Loadmaster for his unit.
After retiring from the service, John and his wife moved to Hawaii where John worked as a government contractor and government civilian. After seven years, John and his wife moved to Spokane. He worked at salesman and warehouse associate before joining the Madison team. John is currently working toward his broker’s license.
John was born in Fall River Mills, California and moved to Spokane, Washington around the age of eight. He graduated from Central Valley High School, married the love of his life, and entered the Air Force in August of 1987. He attended American Military University earning a B.A. in Transportation and Logistics Management. He furthered his education achieving a Master Certificate in Six Sigma through Villanova University.
John currently resides in Spokane Valley with is wife. He has a daughter who is currently serving with her husband in the Air Force. He is also a proud grandpa. John enjoys the outdoors in his off time, hunting, fishing and just being in nature. He also enjoys going to the drag races during major events.
Fun Fact: John loves peanut butter and prefers to make s’mores using peanut butter cups.
While coming from a family that worked in property management in California, Kevin began his own career in property management with Madison Real Estate with a variety of jobs in his resume including construction, sales, food service, and transportation. He has attended Fair Housing Conferences here in Spokane the past three years in order to stay up to date on the ever-changing laws involved in property management and is consistently working to improve his knowledge and credibility.
Kevin is originally from Pacifica, CA where he attended Terra Nova High school in 2008. He started his post High School education prior to graduating by enrolling in night classes at the local community college and began taking courses for recording and producing music immediately after graduating. However, his educational interests quickly changed to Psychology while he took classes at a variety of community colleges in the bay area. In 2015 there came a need for a change of location so he packed up what belongings he could fit in his car, and moved to Spokane to sleep on his cousin’s couch.
Since then Kevin has embraced this town and is working diligently to “plant his roots” and make this town his home with his growing little family. He lives with his wonderful partner Sonia whom he met 6 months into living in Spokane along with her niece Eli, 2 dogs (little monsters) Stormy and Apollo, their Bearded Dragon Coco, and a little one of their own on the way.
Fun Fact: I Am The White Glove Guy. (Also, I watch far too many cartoons).
Prior to entering the world of Property Management, Robert worked several different jobs, wearing many different hats, including FedEx, a Correctional Officer for 5 years in Southern Arizona, many customer service driven jobs and even time in the Marine Corps. He attends yearly fair housing conferences to ensure he stays current and educated in Washington State landlord-tenant laws.
Robert is originally from Tucson, AZ, and immediately after graduating high school in 2005, joined the Marine Corps. After completing his school of infantry training he was stationed at Camp Pendleton with 3rd Battalion 5th Marine Regiment Kilo Co. Weapons Platoon. With his unit he did two deployments to Iraq, one in 2005-2006 to Habbaniyah and the second one 2007 to Haditha.
In 2012 Robert married his wife in Tucson, AZ while working as a Correctional Officer. They lived in Casa Grande, AZ until 2016 when a better job market, along with family members prompted Robert and his wife to move to Spokane. In October of 2016 they had their first child, their son Carson. In March of 2019 they had their second child, their daughter Zoë.
Fun Fact: In May of 2019 Robert received his bachelor’s degree in Environmental Science from Southern New Hampshire University.
Debbie began working in property management in Irvine, CA at Villageway Management. She started in their Secretarial Department where she assisted in the management of Homeowner Associations. She was later promoted to Property Manager and oversaw a portfolio of 5 Associations. 15 years later she moved to Spokane and after a few jobs in other areas, made her way back to property management. In 2010, she joined Premiere Property Services assisting with their Homeowner Associations division. Premiere’s rental portfolio was purchased by Madison Real Estate & Property Management, Inc, in January of 2016 and Debbie transitioned to her current role as Madison’s Document Coordinator.
Debbie has attended the Inland Northwest Fair Housing Conference for 7 years and taken several property management related classes in California.
Debbie was born in Oakland, CA, spent time in both Northern and Southern California growing up. She lives here in Spokane with her 24 year old son, 2 year old grandson and 2 cats.
Fun Fact: Debbie has a crazy fascination with all things related to serial killers…books, movies – she loves it all! She also once sat in Prince’s purple limo in front of the St. Regis Hotel in San Francisco.
TRUST ACCOUNT SPECIALIST
Emily started her career in property management with Madison in October 2017. Before that she came from a background in banking and customer service. She graduated from Eastern Washington University in June 2013 with a Bachelor’s Degree in Accounting. Emily was born in Everett, WA and grew up around Arlington, WA where her parents still live today. She moved over to the East side for college and fell in love with the Spokane area! She currently lives in Spokane Valley with her boyfriend and their two cats.
Fun Fact: Emily’s favorite genre of movie is horror – the scarier the better!
Prior to Madison, Amber worked in various food service and customer service positions. She is currently a senior at Eastern Washington University working towards her Bachelor’s Degree in Health Science. Amber was born and raised in Spokane, WA and has never moved away. She currently lives here with her fiance and their adopted English Bulldog mutt. Amber’s parents have a cabin on the Pend Oreille River, so she spends a lot of time over the summer up there fishing, swimming, and boating. She spends her free time doing photography, playing soccer on a coed rec team, hiking, camping, and taking part in restaurant trivia nights.
Fun Fact: Amber loves to travel and hopes to visit all 50 states.