JACOB GRANT PROPERTY MANAGEMENT KIT
ldquoWe have used Jacob Grant Property Management for
the last two years Wersquove been extremely pleased
with their professionalism and their immediate
attention to detail regarding our apartments Jacob
Grant has kept our apartments near 100 occupancy
during this time We highly recommend them to
anyone and appreciate them deeplyrdquo
Allen amp Jenn Ruggles
CONTENTSIntroduction 3
Rental Property Marketing 6
Tenants 7
Property Maintenance 8
Inspections 9
Accounting 10
Goals Directed Management 10
FAQs 12
IntroductionARE YOU LEAVING MONEY ON THE TABLE IN YOUR RENTAL PROPERTIESLetrsquos do something about that
Most real estate investors and property owners have
opportunities to grow their revenue in ways theyrsquove never even
considered Theyrsquore missing out Why Because they buy and
manage their rental properties like traditional landlords
We offer a different approach
We help our clients invest in and manage their rental properties
like strategic businesses By making business-savvy decisions
and continually improving their properties we drive up their
long-term returns and property values (And drive down their
day-to-day stress)
Whether yoursquove gotten into real estate because you want more
freedom you want a legacy or yoursquore ensuring your familyrsquos
security learn how our unique approach can help you achieve
your vision
Services to Improve Your Long-Term Returns
MANAGE AND ENHANCE YOUR PORTFOLIOWe manage each property like a business so you can improve
your cash flow and property value You can expect creative
revenue building strategic budgeting detailed accounting
regular inspections to increase equity in your property and
much more
ASSESS YOUR PORTFOLIO Are your properties operating at their optimum performance
Could your money perform better elsewhere From creating a
property management scorecard to evaluating your financing
to offering holdsell analysis we can help you make informed
decisions
GROW YOUR PORTFOLIOWhether yoursquore interested in buying or building wersquoll help you
evaluate your options If yoursquore buying wersquore here to guide you
from goal setting to closing If yoursquore building wersquoll consult with
you on how to get the highest rental return per square foot
SMART TARGETED ADVICEYou receive strategic advice to improve your portfoliorsquos value and cash flow
EXCEPTIONAL USE OF YOUR TIMEOur approach allows you to make strategic decisions but avoid daily hassles
ONGOING PEACE OF MIND You have a team that gets your vision eases your stress and is continually improving your propertyrsquos performance
A BETTER CHANCE AT FINANCIAL PROSPERITYMany of our clients have achieved significant value and wealth creation
Why Choose Jacob Grant
Letrsquos find opportunities to grow your revenue
Call for a free consult today (208) 522-3138 or supportjacobgrantcom
3JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
We serve a range of clients from successful
entrepreneurs-turned-real estate investors who
want to make smart decisions to long-time
property owners who love the idea of a more
objective approach to running their properties
But we arenrsquot the right fit for everyone
We tend to be the best fit for those with a
strategic business mindset
STRATEGIC BUSINESS MINDSET TRADITIONAL LANDLORD MINDSET
INVESTMENT MINDSET Long-term Considers cash flow streams over five to 10 years
Short-term Focused on cash flow streams over the next 12 months
REVENUE MINDSET Rent and revenue are variable they can be influenced during key points in the tenant cycle
Rent and security deposit are fixed theyrsquore set by the market
PROBLEM SOLVINGAPPROACH
Flexible and focused on continual improvement
ldquoWersquove always done it this wayrdquo
EXPENSES Expenses should be managed (to create more cash flow and predictable results)
Expenses should be avoided
ACCOUNTING Transparency down to the individual invoice
Reporting is vague
APPROACH TO REPAIRS
Proactive and preventive (maintenance stabilizes value and enhances revenue opportunities)
Reactive
CUSTOMER SERVICE FOR RENTERS
It builds loyalty mdash it reduces turnover expenses increases rent revenue and attracts trustworthy tenants
Customer service should be minimized to avoid expenses
HOW THEY SEE THEIR ROLE
Hands off Finger on the pulse of the business
Hands on Want to be involved in every detail and decision
HOW THEY DEFINE SUCCESS
Increasing profitability over time while increasing property value
Feeling good because they got the most they could from today
DO YOU HAVE A STRATEGIC BUSINESS MINDSET
Does this sound like you
Introduction
4JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
YOU HAVE VISION SO DO WE
MEET JAKE DURTSCHI OUR FOUNDEROur unique business approach to property management starts with our
founder Jake Durtschi Jake began investing in Idaho real estate in 2002
after extensive research The first few properties Jake took on as an investor
had huge issues with deferred maintenance
Jake realized early on that many property managers were getting by
with a short-term mindset They didnrsquot see what their properties
could be They were missing out on returns because they didnrsquot
want to spend a dollar today to make two tomorrow
Jake managed every detail of his properties in the beginning
learning the ins and outs of how to manage for long-term
growth As he began to conceptualize Jacob Grant Property
Management he analyzed what others were doing too
ldquoIrsquom naturally curiousrdquo Jake shares ldquoIrsquom continually
looking at how other management companies
apartment communities and even individual owners are
managing their own assets Itrsquos given me special insight
into where people make moneyrdquo
One of Jakersquos strengths is visualizing what your properties could
look like As an investor himself he understands the big picture
He can help you make the connection between rental decisions
(such as lease terminations or maintenance) and your profit and
loss statement
Jake has built a skilled and friendly team to guide you through real
estate investing and property management Hersquos committed to
ensuring his employees are engaged because attitude is contagious
Yoursquoll notice a clear difference in your interactions with us - from our
communication with you to the strategic counsel we offer
Jake is a Certified Property Manager (CPM) licensed by the Institute
of Real Estate Management (IREM) and a licensed realtor in Idaho
You can rest easy yoursquore getting expert advice
Introduction
Today Jake brings his unique vision to you
Learn the ins and outs of how wersquod run your real estate business in the following pages
To explore how we can assess or grow your portfolio call us today (208) 522-3138
5JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Jacob Grant Property Management markets properties
according to investment goals With a typical portfolio vacancy
rate of 3-4 investors can rest assured that industry best
practices are being used to market your property and rent it as
quickly as possible
BEST PRACTICES IN MARKETING
MARKET RENT
One of the most important factors in renting your property
quickly is setting the rental rate ldquojust rightrdquo If rent is set too
high vacancy expense skyrockets If it is set too low there is
lost income opportunity
EXPOSURE
The best marketing uses the least amount of funds to create
the most qualified traffic Properties that are vacant or are
on notice to be vacant shortly are marketed aggressively
This improves the number of prospective tenants looking at
the property Your rental property will be immediately placed in
front of hundreds of prospective tenants on multiple free and
paid Internet Listing websites and paid advertising platforms
Jacobgrantcom gives all mobile and desktop computer users
live access to listed properties Listings include pictures
virtual tours utilities information pet information and full
descriptions of the property
AVAILABILITY
The targeted market for filling your rental property are
responsible prospective renters that often times have jobs
In order to target people that have 9-5 jobs availability
must include times that are convenient for them Telephone
answering services are available until 6pm weekdays and
include Saturday hours Evening and weekend email response
is available until 8pm
ATTRACTION
When marketing the rental property quantity is important
but quality of the lead is even more important Is marketing
in front of prospective renters that are likely to be highly
qualified Marketing is web based targeting mobile and
desktop users on jacobgrantcom and Internet Listing Sites
with the highest conversion of well qualified tenants
MARKETING STRATEGY DETAILS
1 Mobile responsive website gives prospective tenants
anytimeanywhere access to available properties
2 Discounted marketing advertising across Google AdWords
Internet Listing Sites and targeted social media platforms
bulk purchased at a discount of $65
3 Virtual tours and pictures
4 Craigslist ads
5 Market prior to vacancy
6 Yard signs
7 After hours showings
8 Incentive programs target prospective tenants with
excellent credit
9 Renew leases 90 of our tenants rent the same property
for over 12 months
Rental Property MarketingRENTAL PROPERTY MARKETING
6JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Positive Outcome PAYS RENT ON TIME
FOLLOWS LEASECARES FOR PROPERTY
BROKEN LEASEDRUGS
LATE RENT DAMAGE
SCREENING PROCESS Effective tenant screening processes increase the
likelihood that your property will be rented by quality
tenants thereby reducing turnover rates and increasing
cash flow An objective scoring system rates
bull Length of previous residency
bull Length of employment
bull Rent to income ratio
bull Credit score
bull Delinquency due to medical
bull Delinquency not due to medical
Several criminal and credit factors immediately disqualify
the prospective tenant
TURNOVER REDUCTIONHigh turnover works directly against owner financial
goals In fact the average cost of tenant turnover is
$1500-$2000 (see table) The Jacob Grant Property
Management System is designed to retain well-qualified
residents The minor expense of retaining a well-qualified
tenant is far less than the expense of turnover
TENANT RETENTIONbull Provide 5-star customer service
bull Answer and return phone calls within 24 hours
bull Accommodate prospective tenant schedule
bull Complete requested work orders quickly
and efficiently
bull Respond to tenant complaints
bull Honest and fair security deposit claims gives JGPM
a good reputation among local tenant market
bull Use ldquoabove classrdquo standards at turnover on
cleanliness and quality of repair
RENTAL HISTORY
EMPLOYMENT
TENANTS
Application Filter BACKGROUND CHECK
REFERENCES
CREDIT
Tenants
COST OF TURNOVER
ASSUMPTIONS AVERAGE
Average Rent $800
Average Loss Days $15
Average Concessions $150
Maintenance Hourly $35
Maintenance Average Hour to Turn a Unit 9
CALCULATIONS
Vacancy Loss $400
Marketing $200
Carpet Cleaning $100
Painting Cost $197
Appliance RepairReplace $292
Miscellaneous Maintenance Cost $141
Maintenace Labor $288
Housekeeping $71
TOTAL $1689
Information provided by httpmultifamilyinsidercom with local expense adjustment
7JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Deferred maintenance can cause substantial financial impact
to your property value and your cash flow Preventative
responsive and emergency maintenance services position your
property to perform according to your financial goals
PRESENTATIONMaintenance impacts presentation of your home A clean
well maintained rental property attracts highly qualified
tenants A highly qualified tenant is more likely to reduce your
maintenance expense and is much less likely to experience
early termination of the lease agreement
PREVENTIONA preventive program reduces maintenance expense by an
estimated factor of 10 and keeps your property in better
condition Regular maintenance surveys are scheduled
bi-annually or quarterly You will have the option to include
regular fertilization furnace tune-up pest control and other
property services that reduce overall maintenance costs and
maximize the quality of your real estate investment
PROTECTIONRegular maintenance surveys emergency services and
drive-by reports protect your asset by reporting and addressing
problems prior to escalation which typically adds more cost
and causes discomfort for tenants which reduces renewal
rate In addition ongoing regular maintenance maximizes the
value of your real estate investment when you want to sell the
property
Property MaintenancePROPERTY MAINTENANCE
REDUCE EXPENSE BY AN
ESTIMATED FACTOR OF 10
WITH PREVENTION
8JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Inspections are a vital part of meeting financial goals on real
estate investments Results give management guidance on
deferred maintenance potential lease violations and other
insights about your investment
PROPERTY MANAGER INSPECTIONSIn order to respect and increase the comfort of your high quality
tenants Property Manager Inspections are only scheduled when
a potential lease violation comes to our attention
FREQUENCY As needed
COST $0
PREVENTATIVE MAINTENANCE INSPECTIONS
A maintenance inspection is performed during tenancy
It can be scheduled on a bi-annual or quarterly basis on
the preventative maintenance plan The purpose of this
20-point inspection is to solve small maintenance issues
such as furnace filter replacement tub caulking and slow
water leaks prior to them becoming big problems provide
snapshot of potential lease violations and give a condition
report of the property
FREQUENCY Bi-annual or Quarterly
COST $35-$55 depending on sizeunit count
DRIVE-BY INSPECTIONSJacob Grant has designed and developed a mobile application
for iPhone and Android that is specifically built to give you
a curbside report of your property The one page pdf report
includes a report and pictures
FREQUENCY Intermittent or by request
COST $0 for intermittent or $49 per request
Jeff Anderson
ldquoWhen i became interested in building a real estate portfolio I contacted all the
local property managers Jake Durtschi at Jacob Grant Property Management stood
out because of his willingness to work with me so I could grow my portfolio faster
which resulted in a win-win for both of us
With Jacob Grant I stay very involved in major decisions quarterly reporting
and reviewing property inspections Yet I let them handle lease contracts
finding quality tenants and the day-to-day needs
Jake and his staff are very courteous in keeping me apprised of move outs and
other items that i have interest in Irsquove referred family and friends to Jacob Grant
and I will continue to do sordquo
InspectionsINSPECTIONS
9JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accounting
ACCESS TO FINANCIAL
RECORDS
In addition to providing monthly detailed and customizable
reports detailing transactions on rental properties there are
several accounting services provided These services are
designed to protect owner funds and tenant funds from misuse
theft and comingling
bull Monthly statement with online access
bull Separate bank account for operating funds
bull Separate bank account for tenant security deposits
bull Bi-monthly security deposit balance
bull Third party reconciliation
bull Fidelity Bond protects funds up to $100000
There have been several local and state level stories in
which property managers or companies mismanage funds
The problem is not typically theft The problem is usually
competency Mishandled or co-mingled funds can lead to
substantial loss in investorrsquos security deposits or reserves
The common thread is that the property manager is able to
hide the loss by covering it with other assets
Avoid becoming a victim by knowing how your funds are held
and what practices are being implemented to protect funds
related to your rental property
When management begins all investors are given the
opportunity to detail their financial goals in the format of
an annual budget This process clarifies expectations and
becomes the first step in specifically meeting owner goals
Once these financial goals are created they are referenced
once each quarter Goals are referenced in a ldquoGoals Versus
Actualsrdquo report that analyzes financial performance compared
to the budget This process increases communication
and accountability and keeps property managers and
owners focused on the goal With the end in mind portfolio
performance improves substantially
Goals directed management also provides investors with
a projection tool to create a detailed roadmap in moving
forward with other real estate investments With historical
data on different types of property investors can project likely
performance on prospective real estate investments in order to
determine whether the investment fits with investor goals
ACCOUNTING
GOALS DIRECTED MANAGEMENT
10JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accountability
Nathan amp Teresa Hancock
Goals directed management improves accountability and communication between property manager and owner Accountability to
bottom line performance creates measurable investment results The three results reviewed are total income total expenses
and net operating income This simple roadmap clarifies expectation and accountability and maximizes performance
ldquoWe hired Jacob Grant Property Management to manage our 82-unit
apartment complex We interviewed several people for this complicated
and demanding job and we decided on Jacob Grant Property Management
because of their professionalism and experience We have never regretted
our decision
Jake and his team have implemented many new ideas that have
improved the property and brought in good residents I highly
recommend Jacob Grantrdquo
ACCOUNTABILITY
Q1 BUDGETVARIANCE
Q2 BUDGETVARIANCE
Q3 BUDGETVARIANCE
Q4 BUDGETVARIANCE
YTD
Gross Potential Income $31545 $31545 $31545 $31545 $126180
VacanyNonpayment $1372 435 $96007
Effective Gross Income $30173 68 $30173
Operating Expenses $5256 -743 $5256
Net Operating Income $24917 258 $0 $0 $0 $24917
ANNUAL QUARTERLY MONTHLY
Gross Potential Income $126180 $31545 $10515
VacanyNonpayment $6309 $1577 $526
Effective Gross Income $119871 $29968 $9989
Operating Expenses $22712 $5678 $1893
Net Operating Income $97159 $24290 $8097
ACTUAL
BUDGET
11JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
ldquoWe have used Jacob Grant Property Management for
the last two years Wersquove been extremely pleased
with their professionalism and their immediate
attention to detail regarding our apartments Jacob
Grant has kept our apartments near 100 occupancy
during this time We highly recommend them to
anyone and appreciate them deeplyrdquo
Allen amp Jenn Ruggles
CONTENTSIntroduction 3
Rental Property Marketing 6
Tenants 7
Property Maintenance 8
Inspections 9
Accounting 10
Goals Directed Management 10
FAQs 12
IntroductionARE YOU LEAVING MONEY ON THE TABLE IN YOUR RENTAL PROPERTIESLetrsquos do something about that
Most real estate investors and property owners have
opportunities to grow their revenue in ways theyrsquove never even
considered Theyrsquore missing out Why Because they buy and
manage their rental properties like traditional landlords
We offer a different approach
We help our clients invest in and manage their rental properties
like strategic businesses By making business-savvy decisions
and continually improving their properties we drive up their
long-term returns and property values (And drive down their
day-to-day stress)
Whether yoursquove gotten into real estate because you want more
freedom you want a legacy or yoursquore ensuring your familyrsquos
security learn how our unique approach can help you achieve
your vision
Services to Improve Your Long-Term Returns
MANAGE AND ENHANCE YOUR PORTFOLIOWe manage each property like a business so you can improve
your cash flow and property value You can expect creative
revenue building strategic budgeting detailed accounting
regular inspections to increase equity in your property and
much more
ASSESS YOUR PORTFOLIO Are your properties operating at their optimum performance
Could your money perform better elsewhere From creating a
property management scorecard to evaluating your financing
to offering holdsell analysis we can help you make informed
decisions
GROW YOUR PORTFOLIOWhether yoursquore interested in buying or building wersquoll help you
evaluate your options If yoursquore buying wersquore here to guide you
from goal setting to closing If yoursquore building wersquoll consult with
you on how to get the highest rental return per square foot
SMART TARGETED ADVICEYou receive strategic advice to improve your portfoliorsquos value and cash flow
EXCEPTIONAL USE OF YOUR TIMEOur approach allows you to make strategic decisions but avoid daily hassles
ONGOING PEACE OF MIND You have a team that gets your vision eases your stress and is continually improving your propertyrsquos performance
A BETTER CHANCE AT FINANCIAL PROSPERITYMany of our clients have achieved significant value and wealth creation
Why Choose Jacob Grant
Letrsquos find opportunities to grow your revenue
Call for a free consult today (208) 522-3138 or supportjacobgrantcom
3JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
We serve a range of clients from successful
entrepreneurs-turned-real estate investors who
want to make smart decisions to long-time
property owners who love the idea of a more
objective approach to running their properties
But we arenrsquot the right fit for everyone
We tend to be the best fit for those with a
strategic business mindset
STRATEGIC BUSINESS MINDSET TRADITIONAL LANDLORD MINDSET
INVESTMENT MINDSET Long-term Considers cash flow streams over five to 10 years
Short-term Focused on cash flow streams over the next 12 months
REVENUE MINDSET Rent and revenue are variable they can be influenced during key points in the tenant cycle
Rent and security deposit are fixed theyrsquore set by the market
PROBLEM SOLVINGAPPROACH
Flexible and focused on continual improvement
ldquoWersquove always done it this wayrdquo
EXPENSES Expenses should be managed (to create more cash flow and predictable results)
Expenses should be avoided
ACCOUNTING Transparency down to the individual invoice
Reporting is vague
APPROACH TO REPAIRS
Proactive and preventive (maintenance stabilizes value and enhances revenue opportunities)
Reactive
CUSTOMER SERVICE FOR RENTERS
It builds loyalty mdash it reduces turnover expenses increases rent revenue and attracts trustworthy tenants
Customer service should be minimized to avoid expenses
HOW THEY SEE THEIR ROLE
Hands off Finger on the pulse of the business
Hands on Want to be involved in every detail and decision
HOW THEY DEFINE SUCCESS
Increasing profitability over time while increasing property value
Feeling good because they got the most they could from today
DO YOU HAVE A STRATEGIC BUSINESS MINDSET
Does this sound like you
Introduction
4JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
YOU HAVE VISION SO DO WE
MEET JAKE DURTSCHI OUR FOUNDEROur unique business approach to property management starts with our
founder Jake Durtschi Jake began investing in Idaho real estate in 2002
after extensive research The first few properties Jake took on as an investor
had huge issues with deferred maintenance
Jake realized early on that many property managers were getting by
with a short-term mindset They didnrsquot see what their properties
could be They were missing out on returns because they didnrsquot
want to spend a dollar today to make two tomorrow
Jake managed every detail of his properties in the beginning
learning the ins and outs of how to manage for long-term
growth As he began to conceptualize Jacob Grant Property
Management he analyzed what others were doing too
ldquoIrsquom naturally curiousrdquo Jake shares ldquoIrsquom continually
looking at how other management companies
apartment communities and even individual owners are
managing their own assets Itrsquos given me special insight
into where people make moneyrdquo
One of Jakersquos strengths is visualizing what your properties could
look like As an investor himself he understands the big picture
He can help you make the connection between rental decisions
(such as lease terminations or maintenance) and your profit and
loss statement
Jake has built a skilled and friendly team to guide you through real
estate investing and property management Hersquos committed to
ensuring his employees are engaged because attitude is contagious
Yoursquoll notice a clear difference in your interactions with us - from our
communication with you to the strategic counsel we offer
Jake is a Certified Property Manager (CPM) licensed by the Institute
of Real Estate Management (IREM) and a licensed realtor in Idaho
You can rest easy yoursquore getting expert advice
Introduction
Today Jake brings his unique vision to you
Learn the ins and outs of how wersquod run your real estate business in the following pages
To explore how we can assess or grow your portfolio call us today (208) 522-3138
5JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Jacob Grant Property Management markets properties
according to investment goals With a typical portfolio vacancy
rate of 3-4 investors can rest assured that industry best
practices are being used to market your property and rent it as
quickly as possible
BEST PRACTICES IN MARKETING
MARKET RENT
One of the most important factors in renting your property
quickly is setting the rental rate ldquojust rightrdquo If rent is set too
high vacancy expense skyrockets If it is set too low there is
lost income opportunity
EXPOSURE
The best marketing uses the least amount of funds to create
the most qualified traffic Properties that are vacant or are
on notice to be vacant shortly are marketed aggressively
This improves the number of prospective tenants looking at
the property Your rental property will be immediately placed in
front of hundreds of prospective tenants on multiple free and
paid Internet Listing websites and paid advertising platforms
Jacobgrantcom gives all mobile and desktop computer users
live access to listed properties Listings include pictures
virtual tours utilities information pet information and full
descriptions of the property
AVAILABILITY
The targeted market for filling your rental property are
responsible prospective renters that often times have jobs
In order to target people that have 9-5 jobs availability
must include times that are convenient for them Telephone
answering services are available until 6pm weekdays and
include Saturday hours Evening and weekend email response
is available until 8pm
ATTRACTION
When marketing the rental property quantity is important
but quality of the lead is even more important Is marketing
in front of prospective renters that are likely to be highly
qualified Marketing is web based targeting mobile and
desktop users on jacobgrantcom and Internet Listing Sites
with the highest conversion of well qualified tenants
MARKETING STRATEGY DETAILS
1 Mobile responsive website gives prospective tenants
anytimeanywhere access to available properties
2 Discounted marketing advertising across Google AdWords
Internet Listing Sites and targeted social media platforms
bulk purchased at a discount of $65
3 Virtual tours and pictures
4 Craigslist ads
5 Market prior to vacancy
6 Yard signs
7 After hours showings
8 Incentive programs target prospective tenants with
excellent credit
9 Renew leases 90 of our tenants rent the same property
for over 12 months
Rental Property MarketingRENTAL PROPERTY MARKETING
6JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Positive Outcome PAYS RENT ON TIME
FOLLOWS LEASECARES FOR PROPERTY
BROKEN LEASEDRUGS
LATE RENT DAMAGE
SCREENING PROCESS Effective tenant screening processes increase the
likelihood that your property will be rented by quality
tenants thereby reducing turnover rates and increasing
cash flow An objective scoring system rates
bull Length of previous residency
bull Length of employment
bull Rent to income ratio
bull Credit score
bull Delinquency due to medical
bull Delinquency not due to medical
Several criminal and credit factors immediately disqualify
the prospective tenant
TURNOVER REDUCTIONHigh turnover works directly against owner financial
goals In fact the average cost of tenant turnover is
$1500-$2000 (see table) The Jacob Grant Property
Management System is designed to retain well-qualified
residents The minor expense of retaining a well-qualified
tenant is far less than the expense of turnover
TENANT RETENTIONbull Provide 5-star customer service
bull Answer and return phone calls within 24 hours
bull Accommodate prospective tenant schedule
bull Complete requested work orders quickly
and efficiently
bull Respond to tenant complaints
bull Honest and fair security deposit claims gives JGPM
a good reputation among local tenant market
bull Use ldquoabove classrdquo standards at turnover on
cleanliness and quality of repair
RENTAL HISTORY
EMPLOYMENT
TENANTS
Application Filter BACKGROUND CHECK
REFERENCES
CREDIT
Tenants
COST OF TURNOVER
ASSUMPTIONS AVERAGE
Average Rent $800
Average Loss Days $15
Average Concessions $150
Maintenance Hourly $35
Maintenance Average Hour to Turn a Unit 9
CALCULATIONS
Vacancy Loss $400
Marketing $200
Carpet Cleaning $100
Painting Cost $197
Appliance RepairReplace $292
Miscellaneous Maintenance Cost $141
Maintenace Labor $288
Housekeeping $71
TOTAL $1689
Information provided by httpmultifamilyinsidercom with local expense adjustment
7JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Deferred maintenance can cause substantial financial impact
to your property value and your cash flow Preventative
responsive and emergency maintenance services position your
property to perform according to your financial goals
PRESENTATIONMaintenance impacts presentation of your home A clean
well maintained rental property attracts highly qualified
tenants A highly qualified tenant is more likely to reduce your
maintenance expense and is much less likely to experience
early termination of the lease agreement
PREVENTIONA preventive program reduces maintenance expense by an
estimated factor of 10 and keeps your property in better
condition Regular maintenance surveys are scheduled
bi-annually or quarterly You will have the option to include
regular fertilization furnace tune-up pest control and other
property services that reduce overall maintenance costs and
maximize the quality of your real estate investment
PROTECTIONRegular maintenance surveys emergency services and
drive-by reports protect your asset by reporting and addressing
problems prior to escalation which typically adds more cost
and causes discomfort for tenants which reduces renewal
rate In addition ongoing regular maintenance maximizes the
value of your real estate investment when you want to sell the
property
Property MaintenancePROPERTY MAINTENANCE
REDUCE EXPENSE BY AN
ESTIMATED FACTOR OF 10
WITH PREVENTION
8JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Inspections are a vital part of meeting financial goals on real
estate investments Results give management guidance on
deferred maintenance potential lease violations and other
insights about your investment
PROPERTY MANAGER INSPECTIONSIn order to respect and increase the comfort of your high quality
tenants Property Manager Inspections are only scheduled when
a potential lease violation comes to our attention
FREQUENCY As needed
COST $0
PREVENTATIVE MAINTENANCE INSPECTIONS
A maintenance inspection is performed during tenancy
It can be scheduled on a bi-annual or quarterly basis on
the preventative maintenance plan The purpose of this
20-point inspection is to solve small maintenance issues
such as furnace filter replacement tub caulking and slow
water leaks prior to them becoming big problems provide
snapshot of potential lease violations and give a condition
report of the property
FREQUENCY Bi-annual or Quarterly
COST $35-$55 depending on sizeunit count
DRIVE-BY INSPECTIONSJacob Grant has designed and developed a mobile application
for iPhone and Android that is specifically built to give you
a curbside report of your property The one page pdf report
includes a report and pictures
FREQUENCY Intermittent or by request
COST $0 for intermittent or $49 per request
Jeff Anderson
ldquoWhen i became interested in building a real estate portfolio I contacted all the
local property managers Jake Durtschi at Jacob Grant Property Management stood
out because of his willingness to work with me so I could grow my portfolio faster
which resulted in a win-win for both of us
With Jacob Grant I stay very involved in major decisions quarterly reporting
and reviewing property inspections Yet I let them handle lease contracts
finding quality tenants and the day-to-day needs
Jake and his staff are very courteous in keeping me apprised of move outs and
other items that i have interest in Irsquove referred family and friends to Jacob Grant
and I will continue to do sordquo
InspectionsINSPECTIONS
9JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accounting
ACCESS TO FINANCIAL
RECORDS
In addition to providing monthly detailed and customizable
reports detailing transactions on rental properties there are
several accounting services provided These services are
designed to protect owner funds and tenant funds from misuse
theft and comingling
bull Monthly statement with online access
bull Separate bank account for operating funds
bull Separate bank account for tenant security deposits
bull Bi-monthly security deposit balance
bull Third party reconciliation
bull Fidelity Bond protects funds up to $100000
There have been several local and state level stories in
which property managers or companies mismanage funds
The problem is not typically theft The problem is usually
competency Mishandled or co-mingled funds can lead to
substantial loss in investorrsquos security deposits or reserves
The common thread is that the property manager is able to
hide the loss by covering it with other assets
Avoid becoming a victim by knowing how your funds are held
and what practices are being implemented to protect funds
related to your rental property
When management begins all investors are given the
opportunity to detail their financial goals in the format of
an annual budget This process clarifies expectations and
becomes the first step in specifically meeting owner goals
Once these financial goals are created they are referenced
once each quarter Goals are referenced in a ldquoGoals Versus
Actualsrdquo report that analyzes financial performance compared
to the budget This process increases communication
and accountability and keeps property managers and
owners focused on the goal With the end in mind portfolio
performance improves substantially
Goals directed management also provides investors with
a projection tool to create a detailed roadmap in moving
forward with other real estate investments With historical
data on different types of property investors can project likely
performance on prospective real estate investments in order to
determine whether the investment fits with investor goals
ACCOUNTING
GOALS DIRECTED MANAGEMENT
10JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accountability
Nathan amp Teresa Hancock
Goals directed management improves accountability and communication between property manager and owner Accountability to
bottom line performance creates measurable investment results The three results reviewed are total income total expenses
and net operating income This simple roadmap clarifies expectation and accountability and maximizes performance
ldquoWe hired Jacob Grant Property Management to manage our 82-unit
apartment complex We interviewed several people for this complicated
and demanding job and we decided on Jacob Grant Property Management
because of their professionalism and experience We have never regretted
our decision
Jake and his team have implemented many new ideas that have
improved the property and brought in good residents I highly
recommend Jacob Grantrdquo
ACCOUNTABILITY
Q1 BUDGETVARIANCE
Q2 BUDGETVARIANCE
Q3 BUDGETVARIANCE
Q4 BUDGETVARIANCE
YTD
Gross Potential Income $31545 $31545 $31545 $31545 $126180
VacanyNonpayment $1372 435 $96007
Effective Gross Income $30173 68 $30173
Operating Expenses $5256 -743 $5256
Net Operating Income $24917 258 $0 $0 $0 $24917
ANNUAL QUARTERLY MONTHLY
Gross Potential Income $126180 $31545 $10515
VacanyNonpayment $6309 $1577 $526
Effective Gross Income $119871 $29968 $9989
Operating Expenses $22712 $5678 $1893
Net Operating Income $97159 $24290 $8097
ACTUAL
BUDGET
11JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
IntroductionARE YOU LEAVING MONEY ON THE TABLE IN YOUR RENTAL PROPERTIESLetrsquos do something about that
Most real estate investors and property owners have
opportunities to grow their revenue in ways theyrsquove never even
considered Theyrsquore missing out Why Because they buy and
manage their rental properties like traditional landlords
We offer a different approach
We help our clients invest in and manage their rental properties
like strategic businesses By making business-savvy decisions
and continually improving their properties we drive up their
long-term returns and property values (And drive down their
day-to-day stress)
Whether yoursquove gotten into real estate because you want more
freedom you want a legacy or yoursquore ensuring your familyrsquos
security learn how our unique approach can help you achieve
your vision
Services to Improve Your Long-Term Returns
MANAGE AND ENHANCE YOUR PORTFOLIOWe manage each property like a business so you can improve
your cash flow and property value You can expect creative
revenue building strategic budgeting detailed accounting
regular inspections to increase equity in your property and
much more
ASSESS YOUR PORTFOLIO Are your properties operating at their optimum performance
Could your money perform better elsewhere From creating a
property management scorecard to evaluating your financing
to offering holdsell analysis we can help you make informed
decisions
GROW YOUR PORTFOLIOWhether yoursquore interested in buying or building wersquoll help you
evaluate your options If yoursquore buying wersquore here to guide you
from goal setting to closing If yoursquore building wersquoll consult with
you on how to get the highest rental return per square foot
SMART TARGETED ADVICEYou receive strategic advice to improve your portfoliorsquos value and cash flow
EXCEPTIONAL USE OF YOUR TIMEOur approach allows you to make strategic decisions but avoid daily hassles
ONGOING PEACE OF MIND You have a team that gets your vision eases your stress and is continually improving your propertyrsquos performance
A BETTER CHANCE AT FINANCIAL PROSPERITYMany of our clients have achieved significant value and wealth creation
Why Choose Jacob Grant
Letrsquos find opportunities to grow your revenue
Call for a free consult today (208) 522-3138 or supportjacobgrantcom
3JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
We serve a range of clients from successful
entrepreneurs-turned-real estate investors who
want to make smart decisions to long-time
property owners who love the idea of a more
objective approach to running their properties
But we arenrsquot the right fit for everyone
We tend to be the best fit for those with a
strategic business mindset
STRATEGIC BUSINESS MINDSET TRADITIONAL LANDLORD MINDSET
INVESTMENT MINDSET Long-term Considers cash flow streams over five to 10 years
Short-term Focused on cash flow streams over the next 12 months
REVENUE MINDSET Rent and revenue are variable they can be influenced during key points in the tenant cycle
Rent and security deposit are fixed theyrsquore set by the market
PROBLEM SOLVINGAPPROACH
Flexible and focused on continual improvement
ldquoWersquove always done it this wayrdquo
EXPENSES Expenses should be managed (to create more cash flow and predictable results)
Expenses should be avoided
ACCOUNTING Transparency down to the individual invoice
Reporting is vague
APPROACH TO REPAIRS
Proactive and preventive (maintenance stabilizes value and enhances revenue opportunities)
Reactive
CUSTOMER SERVICE FOR RENTERS
It builds loyalty mdash it reduces turnover expenses increases rent revenue and attracts trustworthy tenants
Customer service should be minimized to avoid expenses
HOW THEY SEE THEIR ROLE
Hands off Finger on the pulse of the business
Hands on Want to be involved in every detail and decision
HOW THEY DEFINE SUCCESS
Increasing profitability over time while increasing property value
Feeling good because they got the most they could from today
DO YOU HAVE A STRATEGIC BUSINESS MINDSET
Does this sound like you
Introduction
4JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
YOU HAVE VISION SO DO WE
MEET JAKE DURTSCHI OUR FOUNDEROur unique business approach to property management starts with our
founder Jake Durtschi Jake began investing in Idaho real estate in 2002
after extensive research The first few properties Jake took on as an investor
had huge issues with deferred maintenance
Jake realized early on that many property managers were getting by
with a short-term mindset They didnrsquot see what their properties
could be They were missing out on returns because they didnrsquot
want to spend a dollar today to make two tomorrow
Jake managed every detail of his properties in the beginning
learning the ins and outs of how to manage for long-term
growth As he began to conceptualize Jacob Grant Property
Management he analyzed what others were doing too
ldquoIrsquom naturally curiousrdquo Jake shares ldquoIrsquom continually
looking at how other management companies
apartment communities and even individual owners are
managing their own assets Itrsquos given me special insight
into where people make moneyrdquo
One of Jakersquos strengths is visualizing what your properties could
look like As an investor himself he understands the big picture
He can help you make the connection between rental decisions
(such as lease terminations or maintenance) and your profit and
loss statement
Jake has built a skilled and friendly team to guide you through real
estate investing and property management Hersquos committed to
ensuring his employees are engaged because attitude is contagious
Yoursquoll notice a clear difference in your interactions with us - from our
communication with you to the strategic counsel we offer
Jake is a Certified Property Manager (CPM) licensed by the Institute
of Real Estate Management (IREM) and a licensed realtor in Idaho
You can rest easy yoursquore getting expert advice
Introduction
Today Jake brings his unique vision to you
Learn the ins and outs of how wersquod run your real estate business in the following pages
To explore how we can assess or grow your portfolio call us today (208) 522-3138
5JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Jacob Grant Property Management markets properties
according to investment goals With a typical portfolio vacancy
rate of 3-4 investors can rest assured that industry best
practices are being used to market your property and rent it as
quickly as possible
BEST PRACTICES IN MARKETING
MARKET RENT
One of the most important factors in renting your property
quickly is setting the rental rate ldquojust rightrdquo If rent is set too
high vacancy expense skyrockets If it is set too low there is
lost income opportunity
EXPOSURE
The best marketing uses the least amount of funds to create
the most qualified traffic Properties that are vacant or are
on notice to be vacant shortly are marketed aggressively
This improves the number of prospective tenants looking at
the property Your rental property will be immediately placed in
front of hundreds of prospective tenants on multiple free and
paid Internet Listing websites and paid advertising platforms
Jacobgrantcom gives all mobile and desktop computer users
live access to listed properties Listings include pictures
virtual tours utilities information pet information and full
descriptions of the property
AVAILABILITY
The targeted market for filling your rental property are
responsible prospective renters that often times have jobs
In order to target people that have 9-5 jobs availability
must include times that are convenient for them Telephone
answering services are available until 6pm weekdays and
include Saturday hours Evening and weekend email response
is available until 8pm
ATTRACTION
When marketing the rental property quantity is important
but quality of the lead is even more important Is marketing
in front of prospective renters that are likely to be highly
qualified Marketing is web based targeting mobile and
desktop users on jacobgrantcom and Internet Listing Sites
with the highest conversion of well qualified tenants
MARKETING STRATEGY DETAILS
1 Mobile responsive website gives prospective tenants
anytimeanywhere access to available properties
2 Discounted marketing advertising across Google AdWords
Internet Listing Sites and targeted social media platforms
bulk purchased at a discount of $65
3 Virtual tours and pictures
4 Craigslist ads
5 Market prior to vacancy
6 Yard signs
7 After hours showings
8 Incentive programs target prospective tenants with
excellent credit
9 Renew leases 90 of our tenants rent the same property
for over 12 months
Rental Property MarketingRENTAL PROPERTY MARKETING
6JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Positive Outcome PAYS RENT ON TIME
FOLLOWS LEASECARES FOR PROPERTY
BROKEN LEASEDRUGS
LATE RENT DAMAGE
SCREENING PROCESS Effective tenant screening processes increase the
likelihood that your property will be rented by quality
tenants thereby reducing turnover rates and increasing
cash flow An objective scoring system rates
bull Length of previous residency
bull Length of employment
bull Rent to income ratio
bull Credit score
bull Delinquency due to medical
bull Delinquency not due to medical
Several criminal and credit factors immediately disqualify
the prospective tenant
TURNOVER REDUCTIONHigh turnover works directly against owner financial
goals In fact the average cost of tenant turnover is
$1500-$2000 (see table) The Jacob Grant Property
Management System is designed to retain well-qualified
residents The minor expense of retaining a well-qualified
tenant is far less than the expense of turnover
TENANT RETENTIONbull Provide 5-star customer service
bull Answer and return phone calls within 24 hours
bull Accommodate prospective tenant schedule
bull Complete requested work orders quickly
and efficiently
bull Respond to tenant complaints
bull Honest and fair security deposit claims gives JGPM
a good reputation among local tenant market
bull Use ldquoabove classrdquo standards at turnover on
cleanliness and quality of repair
RENTAL HISTORY
EMPLOYMENT
TENANTS
Application Filter BACKGROUND CHECK
REFERENCES
CREDIT
Tenants
COST OF TURNOVER
ASSUMPTIONS AVERAGE
Average Rent $800
Average Loss Days $15
Average Concessions $150
Maintenance Hourly $35
Maintenance Average Hour to Turn a Unit 9
CALCULATIONS
Vacancy Loss $400
Marketing $200
Carpet Cleaning $100
Painting Cost $197
Appliance RepairReplace $292
Miscellaneous Maintenance Cost $141
Maintenace Labor $288
Housekeeping $71
TOTAL $1689
Information provided by httpmultifamilyinsidercom with local expense adjustment
7JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Deferred maintenance can cause substantial financial impact
to your property value and your cash flow Preventative
responsive and emergency maintenance services position your
property to perform according to your financial goals
PRESENTATIONMaintenance impacts presentation of your home A clean
well maintained rental property attracts highly qualified
tenants A highly qualified tenant is more likely to reduce your
maintenance expense and is much less likely to experience
early termination of the lease agreement
PREVENTIONA preventive program reduces maintenance expense by an
estimated factor of 10 and keeps your property in better
condition Regular maintenance surveys are scheduled
bi-annually or quarterly You will have the option to include
regular fertilization furnace tune-up pest control and other
property services that reduce overall maintenance costs and
maximize the quality of your real estate investment
PROTECTIONRegular maintenance surveys emergency services and
drive-by reports protect your asset by reporting and addressing
problems prior to escalation which typically adds more cost
and causes discomfort for tenants which reduces renewal
rate In addition ongoing regular maintenance maximizes the
value of your real estate investment when you want to sell the
property
Property MaintenancePROPERTY MAINTENANCE
REDUCE EXPENSE BY AN
ESTIMATED FACTOR OF 10
WITH PREVENTION
8JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Inspections are a vital part of meeting financial goals on real
estate investments Results give management guidance on
deferred maintenance potential lease violations and other
insights about your investment
PROPERTY MANAGER INSPECTIONSIn order to respect and increase the comfort of your high quality
tenants Property Manager Inspections are only scheduled when
a potential lease violation comes to our attention
FREQUENCY As needed
COST $0
PREVENTATIVE MAINTENANCE INSPECTIONS
A maintenance inspection is performed during tenancy
It can be scheduled on a bi-annual or quarterly basis on
the preventative maintenance plan The purpose of this
20-point inspection is to solve small maintenance issues
such as furnace filter replacement tub caulking and slow
water leaks prior to them becoming big problems provide
snapshot of potential lease violations and give a condition
report of the property
FREQUENCY Bi-annual or Quarterly
COST $35-$55 depending on sizeunit count
DRIVE-BY INSPECTIONSJacob Grant has designed and developed a mobile application
for iPhone and Android that is specifically built to give you
a curbside report of your property The one page pdf report
includes a report and pictures
FREQUENCY Intermittent or by request
COST $0 for intermittent or $49 per request
Jeff Anderson
ldquoWhen i became interested in building a real estate portfolio I contacted all the
local property managers Jake Durtschi at Jacob Grant Property Management stood
out because of his willingness to work with me so I could grow my portfolio faster
which resulted in a win-win for both of us
With Jacob Grant I stay very involved in major decisions quarterly reporting
and reviewing property inspections Yet I let them handle lease contracts
finding quality tenants and the day-to-day needs
Jake and his staff are very courteous in keeping me apprised of move outs and
other items that i have interest in Irsquove referred family and friends to Jacob Grant
and I will continue to do sordquo
InspectionsINSPECTIONS
9JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accounting
ACCESS TO FINANCIAL
RECORDS
In addition to providing monthly detailed and customizable
reports detailing transactions on rental properties there are
several accounting services provided These services are
designed to protect owner funds and tenant funds from misuse
theft and comingling
bull Monthly statement with online access
bull Separate bank account for operating funds
bull Separate bank account for tenant security deposits
bull Bi-monthly security deposit balance
bull Third party reconciliation
bull Fidelity Bond protects funds up to $100000
There have been several local and state level stories in
which property managers or companies mismanage funds
The problem is not typically theft The problem is usually
competency Mishandled or co-mingled funds can lead to
substantial loss in investorrsquos security deposits or reserves
The common thread is that the property manager is able to
hide the loss by covering it with other assets
Avoid becoming a victim by knowing how your funds are held
and what practices are being implemented to protect funds
related to your rental property
When management begins all investors are given the
opportunity to detail their financial goals in the format of
an annual budget This process clarifies expectations and
becomes the first step in specifically meeting owner goals
Once these financial goals are created they are referenced
once each quarter Goals are referenced in a ldquoGoals Versus
Actualsrdquo report that analyzes financial performance compared
to the budget This process increases communication
and accountability and keeps property managers and
owners focused on the goal With the end in mind portfolio
performance improves substantially
Goals directed management also provides investors with
a projection tool to create a detailed roadmap in moving
forward with other real estate investments With historical
data on different types of property investors can project likely
performance on prospective real estate investments in order to
determine whether the investment fits with investor goals
ACCOUNTING
GOALS DIRECTED MANAGEMENT
10JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accountability
Nathan amp Teresa Hancock
Goals directed management improves accountability and communication between property manager and owner Accountability to
bottom line performance creates measurable investment results The three results reviewed are total income total expenses
and net operating income This simple roadmap clarifies expectation and accountability and maximizes performance
ldquoWe hired Jacob Grant Property Management to manage our 82-unit
apartment complex We interviewed several people for this complicated
and demanding job and we decided on Jacob Grant Property Management
because of their professionalism and experience We have never regretted
our decision
Jake and his team have implemented many new ideas that have
improved the property and brought in good residents I highly
recommend Jacob Grantrdquo
ACCOUNTABILITY
Q1 BUDGETVARIANCE
Q2 BUDGETVARIANCE
Q3 BUDGETVARIANCE
Q4 BUDGETVARIANCE
YTD
Gross Potential Income $31545 $31545 $31545 $31545 $126180
VacanyNonpayment $1372 435 $96007
Effective Gross Income $30173 68 $30173
Operating Expenses $5256 -743 $5256
Net Operating Income $24917 258 $0 $0 $0 $24917
ANNUAL QUARTERLY MONTHLY
Gross Potential Income $126180 $31545 $10515
VacanyNonpayment $6309 $1577 $526
Effective Gross Income $119871 $29968 $9989
Operating Expenses $22712 $5678 $1893
Net Operating Income $97159 $24290 $8097
ACTUAL
BUDGET
11JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
We serve a range of clients from successful
entrepreneurs-turned-real estate investors who
want to make smart decisions to long-time
property owners who love the idea of a more
objective approach to running their properties
But we arenrsquot the right fit for everyone
We tend to be the best fit for those with a
strategic business mindset
STRATEGIC BUSINESS MINDSET TRADITIONAL LANDLORD MINDSET
INVESTMENT MINDSET Long-term Considers cash flow streams over five to 10 years
Short-term Focused on cash flow streams over the next 12 months
REVENUE MINDSET Rent and revenue are variable they can be influenced during key points in the tenant cycle
Rent and security deposit are fixed theyrsquore set by the market
PROBLEM SOLVINGAPPROACH
Flexible and focused on continual improvement
ldquoWersquove always done it this wayrdquo
EXPENSES Expenses should be managed (to create more cash flow and predictable results)
Expenses should be avoided
ACCOUNTING Transparency down to the individual invoice
Reporting is vague
APPROACH TO REPAIRS
Proactive and preventive (maintenance stabilizes value and enhances revenue opportunities)
Reactive
CUSTOMER SERVICE FOR RENTERS
It builds loyalty mdash it reduces turnover expenses increases rent revenue and attracts trustworthy tenants
Customer service should be minimized to avoid expenses
HOW THEY SEE THEIR ROLE
Hands off Finger on the pulse of the business
Hands on Want to be involved in every detail and decision
HOW THEY DEFINE SUCCESS
Increasing profitability over time while increasing property value
Feeling good because they got the most they could from today
DO YOU HAVE A STRATEGIC BUSINESS MINDSET
Does this sound like you
Introduction
4JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
YOU HAVE VISION SO DO WE
MEET JAKE DURTSCHI OUR FOUNDEROur unique business approach to property management starts with our
founder Jake Durtschi Jake began investing in Idaho real estate in 2002
after extensive research The first few properties Jake took on as an investor
had huge issues with deferred maintenance
Jake realized early on that many property managers were getting by
with a short-term mindset They didnrsquot see what their properties
could be They were missing out on returns because they didnrsquot
want to spend a dollar today to make two tomorrow
Jake managed every detail of his properties in the beginning
learning the ins and outs of how to manage for long-term
growth As he began to conceptualize Jacob Grant Property
Management he analyzed what others were doing too
ldquoIrsquom naturally curiousrdquo Jake shares ldquoIrsquom continually
looking at how other management companies
apartment communities and even individual owners are
managing their own assets Itrsquos given me special insight
into where people make moneyrdquo
One of Jakersquos strengths is visualizing what your properties could
look like As an investor himself he understands the big picture
He can help you make the connection between rental decisions
(such as lease terminations or maintenance) and your profit and
loss statement
Jake has built a skilled and friendly team to guide you through real
estate investing and property management Hersquos committed to
ensuring his employees are engaged because attitude is contagious
Yoursquoll notice a clear difference in your interactions with us - from our
communication with you to the strategic counsel we offer
Jake is a Certified Property Manager (CPM) licensed by the Institute
of Real Estate Management (IREM) and a licensed realtor in Idaho
You can rest easy yoursquore getting expert advice
Introduction
Today Jake brings his unique vision to you
Learn the ins and outs of how wersquod run your real estate business in the following pages
To explore how we can assess or grow your portfolio call us today (208) 522-3138
5JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Jacob Grant Property Management markets properties
according to investment goals With a typical portfolio vacancy
rate of 3-4 investors can rest assured that industry best
practices are being used to market your property and rent it as
quickly as possible
BEST PRACTICES IN MARKETING
MARKET RENT
One of the most important factors in renting your property
quickly is setting the rental rate ldquojust rightrdquo If rent is set too
high vacancy expense skyrockets If it is set too low there is
lost income opportunity
EXPOSURE
The best marketing uses the least amount of funds to create
the most qualified traffic Properties that are vacant or are
on notice to be vacant shortly are marketed aggressively
This improves the number of prospective tenants looking at
the property Your rental property will be immediately placed in
front of hundreds of prospective tenants on multiple free and
paid Internet Listing websites and paid advertising platforms
Jacobgrantcom gives all mobile and desktop computer users
live access to listed properties Listings include pictures
virtual tours utilities information pet information and full
descriptions of the property
AVAILABILITY
The targeted market for filling your rental property are
responsible prospective renters that often times have jobs
In order to target people that have 9-5 jobs availability
must include times that are convenient for them Telephone
answering services are available until 6pm weekdays and
include Saturday hours Evening and weekend email response
is available until 8pm
ATTRACTION
When marketing the rental property quantity is important
but quality of the lead is even more important Is marketing
in front of prospective renters that are likely to be highly
qualified Marketing is web based targeting mobile and
desktop users on jacobgrantcom and Internet Listing Sites
with the highest conversion of well qualified tenants
MARKETING STRATEGY DETAILS
1 Mobile responsive website gives prospective tenants
anytimeanywhere access to available properties
2 Discounted marketing advertising across Google AdWords
Internet Listing Sites and targeted social media platforms
bulk purchased at a discount of $65
3 Virtual tours and pictures
4 Craigslist ads
5 Market prior to vacancy
6 Yard signs
7 After hours showings
8 Incentive programs target prospective tenants with
excellent credit
9 Renew leases 90 of our tenants rent the same property
for over 12 months
Rental Property MarketingRENTAL PROPERTY MARKETING
6JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Positive Outcome PAYS RENT ON TIME
FOLLOWS LEASECARES FOR PROPERTY
BROKEN LEASEDRUGS
LATE RENT DAMAGE
SCREENING PROCESS Effective tenant screening processes increase the
likelihood that your property will be rented by quality
tenants thereby reducing turnover rates and increasing
cash flow An objective scoring system rates
bull Length of previous residency
bull Length of employment
bull Rent to income ratio
bull Credit score
bull Delinquency due to medical
bull Delinquency not due to medical
Several criminal and credit factors immediately disqualify
the prospective tenant
TURNOVER REDUCTIONHigh turnover works directly against owner financial
goals In fact the average cost of tenant turnover is
$1500-$2000 (see table) The Jacob Grant Property
Management System is designed to retain well-qualified
residents The minor expense of retaining a well-qualified
tenant is far less than the expense of turnover
TENANT RETENTIONbull Provide 5-star customer service
bull Answer and return phone calls within 24 hours
bull Accommodate prospective tenant schedule
bull Complete requested work orders quickly
and efficiently
bull Respond to tenant complaints
bull Honest and fair security deposit claims gives JGPM
a good reputation among local tenant market
bull Use ldquoabove classrdquo standards at turnover on
cleanliness and quality of repair
RENTAL HISTORY
EMPLOYMENT
TENANTS
Application Filter BACKGROUND CHECK
REFERENCES
CREDIT
Tenants
COST OF TURNOVER
ASSUMPTIONS AVERAGE
Average Rent $800
Average Loss Days $15
Average Concessions $150
Maintenance Hourly $35
Maintenance Average Hour to Turn a Unit 9
CALCULATIONS
Vacancy Loss $400
Marketing $200
Carpet Cleaning $100
Painting Cost $197
Appliance RepairReplace $292
Miscellaneous Maintenance Cost $141
Maintenace Labor $288
Housekeeping $71
TOTAL $1689
Information provided by httpmultifamilyinsidercom with local expense adjustment
7JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Deferred maintenance can cause substantial financial impact
to your property value and your cash flow Preventative
responsive and emergency maintenance services position your
property to perform according to your financial goals
PRESENTATIONMaintenance impacts presentation of your home A clean
well maintained rental property attracts highly qualified
tenants A highly qualified tenant is more likely to reduce your
maintenance expense and is much less likely to experience
early termination of the lease agreement
PREVENTIONA preventive program reduces maintenance expense by an
estimated factor of 10 and keeps your property in better
condition Regular maintenance surveys are scheduled
bi-annually or quarterly You will have the option to include
regular fertilization furnace tune-up pest control and other
property services that reduce overall maintenance costs and
maximize the quality of your real estate investment
PROTECTIONRegular maintenance surveys emergency services and
drive-by reports protect your asset by reporting and addressing
problems prior to escalation which typically adds more cost
and causes discomfort for tenants which reduces renewal
rate In addition ongoing regular maintenance maximizes the
value of your real estate investment when you want to sell the
property
Property MaintenancePROPERTY MAINTENANCE
REDUCE EXPENSE BY AN
ESTIMATED FACTOR OF 10
WITH PREVENTION
8JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Inspections are a vital part of meeting financial goals on real
estate investments Results give management guidance on
deferred maintenance potential lease violations and other
insights about your investment
PROPERTY MANAGER INSPECTIONSIn order to respect and increase the comfort of your high quality
tenants Property Manager Inspections are only scheduled when
a potential lease violation comes to our attention
FREQUENCY As needed
COST $0
PREVENTATIVE MAINTENANCE INSPECTIONS
A maintenance inspection is performed during tenancy
It can be scheduled on a bi-annual or quarterly basis on
the preventative maintenance plan The purpose of this
20-point inspection is to solve small maintenance issues
such as furnace filter replacement tub caulking and slow
water leaks prior to them becoming big problems provide
snapshot of potential lease violations and give a condition
report of the property
FREQUENCY Bi-annual or Quarterly
COST $35-$55 depending on sizeunit count
DRIVE-BY INSPECTIONSJacob Grant has designed and developed a mobile application
for iPhone and Android that is specifically built to give you
a curbside report of your property The one page pdf report
includes a report and pictures
FREQUENCY Intermittent or by request
COST $0 for intermittent or $49 per request
Jeff Anderson
ldquoWhen i became interested in building a real estate portfolio I contacted all the
local property managers Jake Durtschi at Jacob Grant Property Management stood
out because of his willingness to work with me so I could grow my portfolio faster
which resulted in a win-win for both of us
With Jacob Grant I stay very involved in major decisions quarterly reporting
and reviewing property inspections Yet I let them handle lease contracts
finding quality tenants and the day-to-day needs
Jake and his staff are very courteous in keeping me apprised of move outs and
other items that i have interest in Irsquove referred family and friends to Jacob Grant
and I will continue to do sordquo
InspectionsINSPECTIONS
9JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accounting
ACCESS TO FINANCIAL
RECORDS
In addition to providing monthly detailed and customizable
reports detailing transactions on rental properties there are
several accounting services provided These services are
designed to protect owner funds and tenant funds from misuse
theft and comingling
bull Monthly statement with online access
bull Separate bank account for operating funds
bull Separate bank account for tenant security deposits
bull Bi-monthly security deposit balance
bull Third party reconciliation
bull Fidelity Bond protects funds up to $100000
There have been several local and state level stories in
which property managers or companies mismanage funds
The problem is not typically theft The problem is usually
competency Mishandled or co-mingled funds can lead to
substantial loss in investorrsquos security deposits or reserves
The common thread is that the property manager is able to
hide the loss by covering it with other assets
Avoid becoming a victim by knowing how your funds are held
and what practices are being implemented to protect funds
related to your rental property
When management begins all investors are given the
opportunity to detail their financial goals in the format of
an annual budget This process clarifies expectations and
becomes the first step in specifically meeting owner goals
Once these financial goals are created they are referenced
once each quarter Goals are referenced in a ldquoGoals Versus
Actualsrdquo report that analyzes financial performance compared
to the budget This process increases communication
and accountability and keeps property managers and
owners focused on the goal With the end in mind portfolio
performance improves substantially
Goals directed management also provides investors with
a projection tool to create a detailed roadmap in moving
forward with other real estate investments With historical
data on different types of property investors can project likely
performance on prospective real estate investments in order to
determine whether the investment fits with investor goals
ACCOUNTING
GOALS DIRECTED MANAGEMENT
10JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accountability
Nathan amp Teresa Hancock
Goals directed management improves accountability and communication between property manager and owner Accountability to
bottom line performance creates measurable investment results The three results reviewed are total income total expenses
and net operating income This simple roadmap clarifies expectation and accountability and maximizes performance
ldquoWe hired Jacob Grant Property Management to manage our 82-unit
apartment complex We interviewed several people for this complicated
and demanding job and we decided on Jacob Grant Property Management
because of their professionalism and experience We have never regretted
our decision
Jake and his team have implemented many new ideas that have
improved the property and brought in good residents I highly
recommend Jacob Grantrdquo
ACCOUNTABILITY
Q1 BUDGETVARIANCE
Q2 BUDGETVARIANCE
Q3 BUDGETVARIANCE
Q4 BUDGETVARIANCE
YTD
Gross Potential Income $31545 $31545 $31545 $31545 $126180
VacanyNonpayment $1372 435 $96007
Effective Gross Income $30173 68 $30173
Operating Expenses $5256 -743 $5256
Net Operating Income $24917 258 $0 $0 $0 $24917
ANNUAL QUARTERLY MONTHLY
Gross Potential Income $126180 $31545 $10515
VacanyNonpayment $6309 $1577 $526
Effective Gross Income $119871 $29968 $9989
Operating Expenses $22712 $5678 $1893
Net Operating Income $97159 $24290 $8097
ACTUAL
BUDGET
11JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
YOU HAVE VISION SO DO WE
MEET JAKE DURTSCHI OUR FOUNDEROur unique business approach to property management starts with our
founder Jake Durtschi Jake began investing in Idaho real estate in 2002
after extensive research The first few properties Jake took on as an investor
had huge issues with deferred maintenance
Jake realized early on that many property managers were getting by
with a short-term mindset They didnrsquot see what their properties
could be They were missing out on returns because they didnrsquot
want to spend a dollar today to make two tomorrow
Jake managed every detail of his properties in the beginning
learning the ins and outs of how to manage for long-term
growth As he began to conceptualize Jacob Grant Property
Management he analyzed what others were doing too
ldquoIrsquom naturally curiousrdquo Jake shares ldquoIrsquom continually
looking at how other management companies
apartment communities and even individual owners are
managing their own assets Itrsquos given me special insight
into where people make moneyrdquo
One of Jakersquos strengths is visualizing what your properties could
look like As an investor himself he understands the big picture
He can help you make the connection between rental decisions
(such as lease terminations or maintenance) and your profit and
loss statement
Jake has built a skilled and friendly team to guide you through real
estate investing and property management Hersquos committed to
ensuring his employees are engaged because attitude is contagious
Yoursquoll notice a clear difference in your interactions with us - from our
communication with you to the strategic counsel we offer
Jake is a Certified Property Manager (CPM) licensed by the Institute
of Real Estate Management (IREM) and a licensed realtor in Idaho
You can rest easy yoursquore getting expert advice
Introduction
Today Jake brings his unique vision to you
Learn the ins and outs of how wersquod run your real estate business in the following pages
To explore how we can assess or grow your portfolio call us today (208) 522-3138
5JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Jacob Grant Property Management markets properties
according to investment goals With a typical portfolio vacancy
rate of 3-4 investors can rest assured that industry best
practices are being used to market your property and rent it as
quickly as possible
BEST PRACTICES IN MARKETING
MARKET RENT
One of the most important factors in renting your property
quickly is setting the rental rate ldquojust rightrdquo If rent is set too
high vacancy expense skyrockets If it is set too low there is
lost income opportunity
EXPOSURE
The best marketing uses the least amount of funds to create
the most qualified traffic Properties that are vacant or are
on notice to be vacant shortly are marketed aggressively
This improves the number of prospective tenants looking at
the property Your rental property will be immediately placed in
front of hundreds of prospective tenants on multiple free and
paid Internet Listing websites and paid advertising platforms
Jacobgrantcom gives all mobile and desktop computer users
live access to listed properties Listings include pictures
virtual tours utilities information pet information and full
descriptions of the property
AVAILABILITY
The targeted market for filling your rental property are
responsible prospective renters that often times have jobs
In order to target people that have 9-5 jobs availability
must include times that are convenient for them Telephone
answering services are available until 6pm weekdays and
include Saturday hours Evening and weekend email response
is available until 8pm
ATTRACTION
When marketing the rental property quantity is important
but quality of the lead is even more important Is marketing
in front of prospective renters that are likely to be highly
qualified Marketing is web based targeting mobile and
desktop users on jacobgrantcom and Internet Listing Sites
with the highest conversion of well qualified tenants
MARKETING STRATEGY DETAILS
1 Mobile responsive website gives prospective tenants
anytimeanywhere access to available properties
2 Discounted marketing advertising across Google AdWords
Internet Listing Sites and targeted social media platforms
bulk purchased at a discount of $65
3 Virtual tours and pictures
4 Craigslist ads
5 Market prior to vacancy
6 Yard signs
7 After hours showings
8 Incentive programs target prospective tenants with
excellent credit
9 Renew leases 90 of our tenants rent the same property
for over 12 months
Rental Property MarketingRENTAL PROPERTY MARKETING
6JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Positive Outcome PAYS RENT ON TIME
FOLLOWS LEASECARES FOR PROPERTY
BROKEN LEASEDRUGS
LATE RENT DAMAGE
SCREENING PROCESS Effective tenant screening processes increase the
likelihood that your property will be rented by quality
tenants thereby reducing turnover rates and increasing
cash flow An objective scoring system rates
bull Length of previous residency
bull Length of employment
bull Rent to income ratio
bull Credit score
bull Delinquency due to medical
bull Delinquency not due to medical
Several criminal and credit factors immediately disqualify
the prospective tenant
TURNOVER REDUCTIONHigh turnover works directly against owner financial
goals In fact the average cost of tenant turnover is
$1500-$2000 (see table) The Jacob Grant Property
Management System is designed to retain well-qualified
residents The minor expense of retaining a well-qualified
tenant is far less than the expense of turnover
TENANT RETENTIONbull Provide 5-star customer service
bull Answer and return phone calls within 24 hours
bull Accommodate prospective tenant schedule
bull Complete requested work orders quickly
and efficiently
bull Respond to tenant complaints
bull Honest and fair security deposit claims gives JGPM
a good reputation among local tenant market
bull Use ldquoabove classrdquo standards at turnover on
cleanliness and quality of repair
RENTAL HISTORY
EMPLOYMENT
TENANTS
Application Filter BACKGROUND CHECK
REFERENCES
CREDIT
Tenants
COST OF TURNOVER
ASSUMPTIONS AVERAGE
Average Rent $800
Average Loss Days $15
Average Concessions $150
Maintenance Hourly $35
Maintenance Average Hour to Turn a Unit 9
CALCULATIONS
Vacancy Loss $400
Marketing $200
Carpet Cleaning $100
Painting Cost $197
Appliance RepairReplace $292
Miscellaneous Maintenance Cost $141
Maintenace Labor $288
Housekeeping $71
TOTAL $1689
Information provided by httpmultifamilyinsidercom with local expense adjustment
7JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Deferred maintenance can cause substantial financial impact
to your property value and your cash flow Preventative
responsive and emergency maintenance services position your
property to perform according to your financial goals
PRESENTATIONMaintenance impacts presentation of your home A clean
well maintained rental property attracts highly qualified
tenants A highly qualified tenant is more likely to reduce your
maintenance expense and is much less likely to experience
early termination of the lease agreement
PREVENTIONA preventive program reduces maintenance expense by an
estimated factor of 10 and keeps your property in better
condition Regular maintenance surveys are scheduled
bi-annually or quarterly You will have the option to include
regular fertilization furnace tune-up pest control and other
property services that reduce overall maintenance costs and
maximize the quality of your real estate investment
PROTECTIONRegular maintenance surveys emergency services and
drive-by reports protect your asset by reporting and addressing
problems prior to escalation which typically adds more cost
and causes discomfort for tenants which reduces renewal
rate In addition ongoing regular maintenance maximizes the
value of your real estate investment when you want to sell the
property
Property MaintenancePROPERTY MAINTENANCE
REDUCE EXPENSE BY AN
ESTIMATED FACTOR OF 10
WITH PREVENTION
8JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Inspections are a vital part of meeting financial goals on real
estate investments Results give management guidance on
deferred maintenance potential lease violations and other
insights about your investment
PROPERTY MANAGER INSPECTIONSIn order to respect and increase the comfort of your high quality
tenants Property Manager Inspections are only scheduled when
a potential lease violation comes to our attention
FREQUENCY As needed
COST $0
PREVENTATIVE MAINTENANCE INSPECTIONS
A maintenance inspection is performed during tenancy
It can be scheduled on a bi-annual or quarterly basis on
the preventative maintenance plan The purpose of this
20-point inspection is to solve small maintenance issues
such as furnace filter replacement tub caulking and slow
water leaks prior to them becoming big problems provide
snapshot of potential lease violations and give a condition
report of the property
FREQUENCY Bi-annual or Quarterly
COST $35-$55 depending on sizeunit count
DRIVE-BY INSPECTIONSJacob Grant has designed and developed a mobile application
for iPhone and Android that is specifically built to give you
a curbside report of your property The one page pdf report
includes a report and pictures
FREQUENCY Intermittent or by request
COST $0 for intermittent or $49 per request
Jeff Anderson
ldquoWhen i became interested in building a real estate portfolio I contacted all the
local property managers Jake Durtschi at Jacob Grant Property Management stood
out because of his willingness to work with me so I could grow my portfolio faster
which resulted in a win-win for both of us
With Jacob Grant I stay very involved in major decisions quarterly reporting
and reviewing property inspections Yet I let them handle lease contracts
finding quality tenants and the day-to-day needs
Jake and his staff are very courteous in keeping me apprised of move outs and
other items that i have interest in Irsquove referred family and friends to Jacob Grant
and I will continue to do sordquo
InspectionsINSPECTIONS
9JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accounting
ACCESS TO FINANCIAL
RECORDS
In addition to providing monthly detailed and customizable
reports detailing transactions on rental properties there are
several accounting services provided These services are
designed to protect owner funds and tenant funds from misuse
theft and comingling
bull Monthly statement with online access
bull Separate bank account for operating funds
bull Separate bank account for tenant security deposits
bull Bi-monthly security deposit balance
bull Third party reconciliation
bull Fidelity Bond protects funds up to $100000
There have been several local and state level stories in
which property managers or companies mismanage funds
The problem is not typically theft The problem is usually
competency Mishandled or co-mingled funds can lead to
substantial loss in investorrsquos security deposits or reserves
The common thread is that the property manager is able to
hide the loss by covering it with other assets
Avoid becoming a victim by knowing how your funds are held
and what practices are being implemented to protect funds
related to your rental property
When management begins all investors are given the
opportunity to detail their financial goals in the format of
an annual budget This process clarifies expectations and
becomes the first step in specifically meeting owner goals
Once these financial goals are created they are referenced
once each quarter Goals are referenced in a ldquoGoals Versus
Actualsrdquo report that analyzes financial performance compared
to the budget This process increases communication
and accountability and keeps property managers and
owners focused on the goal With the end in mind portfolio
performance improves substantially
Goals directed management also provides investors with
a projection tool to create a detailed roadmap in moving
forward with other real estate investments With historical
data on different types of property investors can project likely
performance on prospective real estate investments in order to
determine whether the investment fits with investor goals
ACCOUNTING
GOALS DIRECTED MANAGEMENT
10JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accountability
Nathan amp Teresa Hancock
Goals directed management improves accountability and communication between property manager and owner Accountability to
bottom line performance creates measurable investment results The three results reviewed are total income total expenses
and net operating income This simple roadmap clarifies expectation and accountability and maximizes performance
ldquoWe hired Jacob Grant Property Management to manage our 82-unit
apartment complex We interviewed several people for this complicated
and demanding job and we decided on Jacob Grant Property Management
because of their professionalism and experience We have never regretted
our decision
Jake and his team have implemented many new ideas that have
improved the property and brought in good residents I highly
recommend Jacob Grantrdquo
ACCOUNTABILITY
Q1 BUDGETVARIANCE
Q2 BUDGETVARIANCE
Q3 BUDGETVARIANCE
Q4 BUDGETVARIANCE
YTD
Gross Potential Income $31545 $31545 $31545 $31545 $126180
VacanyNonpayment $1372 435 $96007
Effective Gross Income $30173 68 $30173
Operating Expenses $5256 -743 $5256
Net Operating Income $24917 258 $0 $0 $0 $24917
ANNUAL QUARTERLY MONTHLY
Gross Potential Income $126180 $31545 $10515
VacanyNonpayment $6309 $1577 $526
Effective Gross Income $119871 $29968 $9989
Operating Expenses $22712 $5678 $1893
Net Operating Income $97159 $24290 $8097
ACTUAL
BUDGET
11JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
Jacob Grant Property Management markets properties
according to investment goals With a typical portfolio vacancy
rate of 3-4 investors can rest assured that industry best
practices are being used to market your property and rent it as
quickly as possible
BEST PRACTICES IN MARKETING
MARKET RENT
One of the most important factors in renting your property
quickly is setting the rental rate ldquojust rightrdquo If rent is set too
high vacancy expense skyrockets If it is set too low there is
lost income opportunity
EXPOSURE
The best marketing uses the least amount of funds to create
the most qualified traffic Properties that are vacant or are
on notice to be vacant shortly are marketed aggressively
This improves the number of prospective tenants looking at
the property Your rental property will be immediately placed in
front of hundreds of prospective tenants on multiple free and
paid Internet Listing websites and paid advertising platforms
Jacobgrantcom gives all mobile and desktop computer users
live access to listed properties Listings include pictures
virtual tours utilities information pet information and full
descriptions of the property
AVAILABILITY
The targeted market for filling your rental property are
responsible prospective renters that often times have jobs
In order to target people that have 9-5 jobs availability
must include times that are convenient for them Telephone
answering services are available until 6pm weekdays and
include Saturday hours Evening and weekend email response
is available until 8pm
ATTRACTION
When marketing the rental property quantity is important
but quality of the lead is even more important Is marketing
in front of prospective renters that are likely to be highly
qualified Marketing is web based targeting mobile and
desktop users on jacobgrantcom and Internet Listing Sites
with the highest conversion of well qualified tenants
MARKETING STRATEGY DETAILS
1 Mobile responsive website gives prospective tenants
anytimeanywhere access to available properties
2 Discounted marketing advertising across Google AdWords
Internet Listing Sites and targeted social media platforms
bulk purchased at a discount of $65
3 Virtual tours and pictures
4 Craigslist ads
5 Market prior to vacancy
6 Yard signs
7 After hours showings
8 Incentive programs target prospective tenants with
excellent credit
9 Renew leases 90 of our tenants rent the same property
for over 12 months
Rental Property MarketingRENTAL PROPERTY MARKETING
6JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Positive Outcome PAYS RENT ON TIME
FOLLOWS LEASECARES FOR PROPERTY
BROKEN LEASEDRUGS
LATE RENT DAMAGE
SCREENING PROCESS Effective tenant screening processes increase the
likelihood that your property will be rented by quality
tenants thereby reducing turnover rates and increasing
cash flow An objective scoring system rates
bull Length of previous residency
bull Length of employment
bull Rent to income ratio
bull Credit score
bull Delinquency due to medical
bull Delinquency not due to medical
Several criminal and credit factors immediately disqualify
the prospective tenant
TURNOVER REDUCTIONHigh turnover works directly against owner financial
goals In fact the average cost of tenant turnover is
$1500-$2000 (see table) The Jacob Grant Property
Management System is designed to retain well-qualified
residents The minor expense of retaining a well-qualified
tenant is far less than the expense of turnover
TENANT RETENTIONbull Provide 5-star customer service
bull Answer and return phone calls within 24 hours
bull Accommodate prospective tenant schedule
bull Complete requested work orders quickly
and efficiently
bull Respond to tenant complaints
bull Honest and fair security deposit claims gives JGPM
a good reputation among local tenant market
bull Use ldquoabove classrdquo standards at turnover on
cleanliness and quality of repair
RENTAL HISTORY
EMPLOYMENT
TENANTS
Application Filter BACKGROUND CHECK
REFERENCES
CREDIT
Tenants
COST OF TURNOVER
ASSUMPTIONS AVERAGE
Average Rent $800
Average Loss Days $15
Average Concessions $150
Maintenance Hourly $35
Maintenance Average Hour to Turn a Unit 9
CALCULATIONS
Vacancy Loss $400
Marketing $200
Carpet Cleaning $100
Painting Cost $197
Appliance RepairReplace $292
Miscellaneous Maintenance Cost $141
Maintenace Labor $288
Housekeeping $71
TOTAL $1689
Information provided by httpmultifamilyinsidercom with local expense adjustment
7JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Deferred maintenance can cause substantial financial impact
to your property value and your cash flow Preventative
responsive and emergency maintenance services position your
property to perform according to your financial goals
PRESENTATIONMaintenance impacts presentation of your home A clean
well maintained rental property attracts highly qualified
tenants A highly qualified tenant is more likely to reduce your
maintenance expense and is much less likely to experience
early termination of the lease agreement
PREVENTIONA preventive program reduces maintenance expense by an
estimated factor of 10 and keeps your property in better
condition Regular maintenance surveys are scheduled
bi-annually or quarterly You will have the option to include
regular fertilization furnace tune-up pest control and other
property services that reduce overall maintenance costs and
maximize the quality of your real estate investment
PROTECTIONRegular maintenance surveys emergency services and
drive-by reports protect your asset by reporting and addressing
problems prior to escalation which typically adds more cost
and causes discomfort for tenants which reduces renewal
rate In addition ongoing regular maintenance maximizes the
value of your real estate investment when you want to sell the
property
Property MaintenancePROPERTY MAINTENANCE
REDUCE EXPENSE BY AN
ESTIMATED FACTOR OF 10
WITH PREVENTION
8JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Inspections are a vital part of meeting financial goals on real
estate investments Results give management guidance on
deferred maintenance potential lease violations and other
insights about your investment
PROPERTY MANAGER INSPECTIONSIn order to respect and increase the comfort of your high quality
tenants Property Manager Inspections are only scheduled when
a potential lease violation comes to our attention
FREQUENCY As needed
COST $0
PREVENTATIVE MAINTENANCE INSPECTIONS
A maintenance inspection is performed during tenancy
It can be scheduled on a bi-annual or quarterly basis on
the preventative maintenance plan The purpose of this
20-point inspection is to solve small maintenance issues
such as furnace filter replacement tub caulking and slow
water leaks prior to them becoming big problems provide
snapshot of potential lease violations and give a condition
report of the property
FREQUENCY Bi-annual or Quarterly
COST $35-$55 depending on sizeunit count
DRIVE-BY INSPECTIONSJacob Grant has designed and developed a mobile application
for iPhone and Android that is specifically built to give you
a curbside report of your property The one page pdf report
includes a report and pictures
FREQUENCY Intermittent or by request
COST $0 for intermittent or $49 per request
Jeff Anderson
ldquoWhen i became interested in building a real estate portfolio I contacted all the
local property managers Jake Durtschi at Jacob Grant Property Management stood
out because of his willingness to work with me so I could grow my portfolio faster
which resulted in a win-win for both of us
With Jacob Grant I stay very involved in major decisions quarterly reporting
and reviewing property inspections Yet I let them handle lease contracts
finding quality tenants and the day-to-day needs
Jake and his staff are very courteous in keeping me apprised of move outs and
other items that i have interest in Irsquove referred family and friends to Jacob Grant
and I will continue to do sordquo
InspectionsINSPECTIONS
9JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accounting
ACCESS TO FINANCIAL
RECORDS
In addition to providing monthly detailed and customizable
reports detailing transactions on rental properties there are
several accounting services provided These services are
designed to protect owner funds and tenant funds from misuse
theft and comingling
bull Monthly statement with online access
bull Separate bank account for operating funds
bull Separate bank account for tenant security deposits
bull Bi-monthly security deposit balance
bull Third party reconciliation
bull Fidelity Bond protects funds up to $100000
There have been several local and state level stories in
which property managers or companies mismanage funds
The problem is not typically theft The problem is usually
competency Mishandled or co-mingled funds can lead to
substantial loss in investorrsquos security deposits or reserves
The common thread is that the property manager is able to
hide the loss by covering it with other assets
Avoid becoming a victim by knowing how your funds are held
and what practices are being implemented to protect funds
related to your rental property
When management begins all investors are given the
opportunity to detail their financial goals in the format of
an annual budget This process clarifies expectations and
becomes the first step in specifically meeting owner goals
Once these financial goals are created they are referenced
once each quarter Goals are referenced in a ldquoGoals Versus
Actualsrdquo report that analyzes financial performance compared
to the budget This process increases communication
and accountability and keeps property managers and
owners focused on the goal With the end in mind portfolio
performance improves substantially
Goals directed management also provides investors with
a projection tool to create a detailed roadmap in moving
forward with other real estate investments With historical
data on different types of property investors can project likely
performance on prospective real estate investments in order to
determine whether the investment fits with investor goals
ACCOUNTING
GOALS DIRECTED MANAGEMENT
10JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accountability
Nathan amp Teresa Hancock
Goals directed management improves accountability and communication between property manager and owner Accountability to
bottom line performance creates measurable investment results The three results reviewed are total income total expenses
and net operating income This simple roadmap clarifies expectation and accountability and maximizes performance
ldquoWe hired Jacob Grant Property Management to manage our 82-unit
apartment complex We interviewed several people for this complicated
and demanding job and we decided on Jacob Grant Property Management
because of their professionalism and experience We have never regretted
our decision
Jake and his team have implemented many new ideas that have
improved the property and brought in good residents I highly
recommend Jacob Grantrdquo
ACCOUNTABILITY
Q1 BUDGETVARIANCE
Q2 BUDGETVARIANCE
Q3 BUDGETVARIANCE
Q4 BUDGETVARIANCE
YTD
Gross Potential Income $31545 $31545 $31545 $31545 $126180
VacanyNonpayment $1372 435 $96007
Effective Gross Income $30173 68 $30173
Operating Expenses $5256 -743 $5256
Net Operating Income $24917 258 $0 $0 $0 $24917
ANNUAL QUARTERLY MONTHLY
Gross Potential Income $126180 $31545 $10515
VacanyNonpayment $6309 $1577 $526
Effective Gross Income $119871 $29968 $9989
Operating Expenses $22712 $5678 $1893
Net Operating Income $97159 $24290 $8097
ACTUAL
BUDGET
11JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
Positive Outcome PAYS RENT ON TIME
FOLLOWS LEASECARES FOR PROPERTY
BROKEN LEASEDRUGS
LATE RENT DAMAGE
SCREENING PROCESS Effective tenant screening processes increase the
likelihood that your property will be rented by quality
tenants thereby reducing turnover rates and increasing
cash flow An objective scoring system rates
bull Length of previous residency
bull Length of employment
bull Rent to income ratio
bull Credit score
bull Delinquency due to medical
bull Delinquency not due to medical
Several criminal and credit factors immediately disqualify
the prospective tenant
TURNOVER REDUCTIONHigh turnover works directly against owner financial
goals In fact the average cost of tenant turnover is
$1500-$2000 (see table) The Jacob Grant Property
Management System is designed to retain well-qualified
residents The minor expense of retaining a well-qualified
tenant is far less than the expense of turnover
TENANT RETENTIONbull Provide 5-star customer service
bull Answer and return phone calls within 24 hours
bull Accommodate prospective tenant schedule
bull Complete requested work orders quickly
and efficiently
bull Respond to tenant complaints
bull Honest and fair security deposit claims gives JGPM
a good reputation among local tenant market
bull Use ldquoabove classrdquo standards at turnover on
cleanliness and quality of repair
RENTAL HISTORY
EMPLOYMENT
TENANTS
Application Filter BACKGROUND CHECK
REFERENCES
CREDIT
Tenants
COST OF TURNOVER
ASSUMPTIONS AVERAGE
Average Rent $800
Average Loss Days $15
Average Concessions $150
Maintenance Hourly $35
Maintenance Average Hour to Turn a Unit 9
CALCULATIONS
Vacancy Loss $400
Marketing $200
Carpet Cleaning $100
Painting Cost $197
Appliance RepairReplace $292
Miscellaneous Maintenance Cost $141
Maintenace Labor $288
Housekeeping $71
TOTAL $1689
Information provided by httpmultifamilyinsidercom with local expense adjustment
7JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Deferred maintenance can cause substantial financial impact
to your property value and your cash flow Preventative
responsive and emergency maintenance services position your
property to perform according to your financial goals
PRESENTATIONMaintenance impacts presentation of your home A clean
well maintained rental property attracts highly qualified
tenants A highly qualified tenant is more likely to reduce your
maintenance expense and is much less likely to experience
early termination of the lease agreement
PREVENTIONA preventive program reduces maintenance expense by an
estimated factor of 10 and keeps your property in better
condition Regular maintenance surveys are scheduled
bi-annually or quarterly You will have the option to include
regular fertilization furnace tune-up pest control and other
property services that reduce overall maintenance costs and
maximize the quality of your real estate investment
PROTECTIONRegular maintenance surveys emergency services and
drive-by reports protect your asset by reporting and addressing
problems prior to escalation which typically adds more cost
and causes discomfort for tenants which reduces renewal
rate In addition ongoing regular maintenance maximizes the
value of your real estate investment when you want to sell the
property
Property MaintenancePROPERTY MAINTENANCE
REDUCE EXPENSE BY AN
ESTIMATED FACTOR OF 10
WITH PREVENTION
8JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Inspections are a vital part of meeting financial goals on real
estate investments Results give management guidance on
deferred maintenance potential lease violations and other
insights about your investment
PROPERTY MANAGER INSPECTIONSIn order to respect and increase the comfort of your high quality
tenants Property Manager Inspections are only scheduled when
a potential lease violation comes to our attention
FREQUENCY As needed
COST $0
PREVENTATIVE MAINTENANCE INSPECTIONS
A maintenance inspection is performed during tenancy
It can be scheduled on a bi-annual or quarterly basis on
the preventative maintenance plan The purpose of this
20-point inspection is to solve small maintenance issues
such as furnace filter replacement tub caulking and slow
water leaks prior to them becoming big problems provide
snapshot of potential lease violations and give a condition
report of the property
FREQUENCY Bi-annual or Quarterly
COST $35-$55 depending on sizeunit count
DRIVE-BY INSPECTIONSJacob Grant has designed and developed a mobile application
for iPhone and Android that is specifically built to give you
a curbside report of your property The one page pdf report
includes a report and pictures
FREQUENCY Intermittent or by request
COST $0 for intermittent or $49 per request
Jeff Anderson
ldquoWhen i became interested in building a real estate portfolio I contacted all the
local property managers Jake Durtschi at Jacob Grant Property Management stood
out because of his willingness to work with me so I could grow my portfolio faster
which resulted in a win-win for both of us
With Jacob Grant I stay very involved in major decisions quarterly reporting
and reviewing property inspections Yet I let them handle lease contracts
finding quality tenants and the day-to-day needs
Jake and his staff are very courteous in keeping me apprised of move outs and
other items that i have interest in Irsquove referred family and friends to Jacob Grant
and I will continue to do sordquo
InspectionsINSPECTIONS
9JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accounting
ACCESS TO FINANCIAL
RECORDS
In addition to providing monthly detailed and customizable
reports detailing transactions on rental properties there are
several accounting services provided These services are
designed to protect owner funds and tenant funds from misuse
theft and comingling
bull Monthly statement with online access
bull Separate bank account for operating funds
bull Separate bank account for tenant security deposits
bull Bi-monthly security deposit balance
bull Third party reconciliation
bull Fidelity Bond protects funds up to $100000
There have been several local and state level stories in
which property managers or companies mismanage funds
The problem is not typically theft The problem is usually
competency Mishandled or co-mingled funds can lead to
substantial loss in investorrsquos security deposits or reserves
The common thread is that the property manager is able to
hide the loss by covering it with other assets
Avoid becoming a victim by knowing how your funds are held
and what practices are being implemented to protect funds
related to your rental property
When management begins all investors are given the
opportunity to detail their financial goals in the format of
an annual budget This process clarifies expectations and
becomes the first step in specifically meeting owner goals
Once these financial goals are created they are referenced
once each quarter Goals are referenced in a ldquoGoals Versus
Actualsrdquo report that analyzes financial performance compared
to the budget This process increases communication
and accountability and keeps property managers and
owners focused on the goal With the end in mind portfolio
performance improves substantially
Goals directed management also provides investors with
a projection tool to create a detailed roadmap in moving
forward with other real estate investments With historical
data on different types of property investors can project likely
performance on prospective real estate investments in order to
determine whether the investment fits with investor goals
ACCOUNTING
GOALS DIRECTED MANAGEMENT
10JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accountability
Nathan amp Teresa Hancock
Goals directed management improves accountability and communication between property manager and owner Accountability to
bottom line performance creates measurable investment results The three results reviewed are total income total expenses
and net operating income This simple roadmap clarifies expectation and accountability and maximizes performance
ldquoWe hired Jacob Grant Property Management to manage our 82-unit
apartment complex We interviewed several people for this complicated
and demanding job and we decided on Jacob Grant Property Management
because of their professionalism and experience We have never regretted
our decision
Jake and his team have implemented many new ideas that have
improved the property and brought in good residents I highly
recommend Jacob Grantrdquo
ACCOUNTABILITY
Q1 BUDGETVARIANCE
Q2 BUDGETVARIANCE
Q3 BUDGETVARIANCE
Q4 BUDGETVARIANCE
YTD
Gross Potential Income $31545 $31545 $31545 $31545 $126180
VacanyNonpayment $1372 435 $96007
Effective Gross Income $30173 68 $30173
Operating Expenses $5256 -743 $5256
Net Operating Income $24917 258 $0 $0 $0 $24917
ANNUAL QUARTERLY MONTHLY
Gross Potential Income $126180 $31545 $10515
VacanyNonpayment $6309 $1577 $526
Effective Gross Income $119871 $29968 $9989
Operating Expenses $22712 $5678 $1893
Net Operating Income $97159 $24290 $8097
ACTUAL
BUDGET
11JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
Deferred maintenance can cause substantial financial impact
to your property value and your cash flow Preventative
responsive and emergency maintenance services position your
property to perform according to your financial goals
PRESENTATIONMaintenance impacts presentation of your home A clean
well maintained rental property attracts highly qualified
tenants A highly qualified tenant is more likely to reduce your
maintenance expense and is much less likely to experience
early termination of the lease agreement
PREVENTIONA preventive program reduces maintenance expense by an
estimated factor of 10 and keeps your property in better
condition Regular maintenance surveys are scheduled
bi-annually or quarterly You will have the option to include
regular fertilization furnace tune-up pest control and other
property services that reduce overall maintenance costs and
maximize the quality of your real estate investment
PROTECTIONRegular maintenance surveys emergency services and
drive-by reports protect your asset by reporting and addressing
problems prior to escalation which typically adds more cost
and causes discomfort for tenants which reduces renewal
rate In addition ongoing regular maintenance maximizes the
value of your real estate investment when you want to sell the
property
Property MaintenancePROPERTY MAINTENANCE
REDUCE EXPENSE BY AN
ESTIMATED FACTOR OF 10
WITH PREVENTION
8JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Inspections are a vital part of meeting financial goals on real
estate investments Results give management guidance on
deferred maintenance potential lease violations and other
insights about your investment
PROPERTY MANAGER INSPECTIONSIn order to respect and increase the comfort of your high quality
tenants Property Manager Inspections are only scheduled when
a potential lease violation comes to our attention
FREQUENCY As needed
COST $0
PREVENTATIVE MAINTENANCE INSPECTIONS
A maintenance inspection is performed during tenancy
It can be scheduled on a bi-annual or quarterly basis on
the preventative maintenance plan The purpose of this
20-point inspection is to solve small maintenance issues
such as furnace filter replacement tub caulking and slow
water leaks prior to them becoming big problems provide
snapshot of potential lease violations and give a condition
report of the property
FREQUENCY Bi-annual or Quarterly
COST $35-$55 depending on sizeunit count
DRIVE-BY INSPECTIONSJacob Grant has designed and developed a mobile application
for iPhone and Android that is specifically built to give you
a curbside report of your property The one page pdf report
includes a report and pictures
FREQUENCY Intermittent or by request
COST $0 for intermittent or $49 per request
Jeff Anderson
ldquoWhen i became interested in building a real estate portfolio I contacted all the
local property managers Jake Durtschi at Jacob Grant Property Management stood
out because of his willingness to work with me so I could grow my portfolio faster
which resulted in a win-win for both of us
With Jacob Grant I stay very involved in major decisions quarterly reporting
and reviewing property inspections Yet I let them handle lease contracts
finding quality tenants and the day-to-day needs
Jake and his staff are very courteous in keeping me apprised of move outs and
other items that i have interest in Irsquove referred family and friends to Jacob Grant
and I will continue to do sordquo
InspectionsINSPECTIONS
9JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accounting
ACCESS TO FINANCIAL
RECORDS
In addition to providing monthly detailed and customizable
reports detailing transactions on rental properties there are
several accounting services provided These services are
designed to protect owner funds and tenant funds from misuse
theft and comingling
bull Monthly statement with online access
bull Separate bank account for operating funds
bull Separate bank account for tenant security deposits
bull Bi-monthly security deposit balance
bull Third party reconciliation
bull Fidelity Bond protects funds up to $100000
There have been several local and state level stories in
which property managers or companies mismanage funds
The problem is not typically theft The problem is usually
competency Mishandled or co-mingled funds can lead to
substantial loss in investorrsquos security deposits or reserves
The common thread is that the property manager is able to
hide the loss by covering it with other assets
Avoid becoming a victim by knowing how your funds are held
and what practices are being implemented to protect funds
related to your rental property
When management begins all investors are given the
opportunity to detail their financial goals in the format of
an annual budget This process clarifies expectations and
becomes the first step in specifically meeting owner goals
Once these financial goals are created they are referenced
once each quarter Goals are referenced in a ldquoGoals Versus
Actualsrdquo report that analyzes financial performance compared
to the budget This process increases communication
and accountability and keeps property managers and
owners focused on the goal With the end in mind portfolio
performance improves substantially
Goals directed management also provides investors with
a projection tool to create a detailed roadmap in moving
forward with other real estate investments With historical
data on different types of property investors can project likely
performance on prospective real estate investments in order to
determine whether the investment fits with investor goals
ACCOUNTING
GOALS DIRECTED MANAGEMENT
10JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accountability
Nathan amp Teresa Hancock
Goals directed management improves accountability and communication between property manager and owner Accountability to
bottom line performance creates measurable investment results The three results reviewed are total income total expenses
and net operating income This simple roadmap clarifies expectation and accountability and maximizes performance
ldquoWe hired Jacob Grant Property Management to manage our 82-unit
apartment complex We interviewed several people for this complicated
and demanding job and we decided on Jacob Grant Property Management
because of their professionalism and experience We have never regretted
our decision
Jake and his team have implemented many new ideas that have
improved the property and brought in good residents I highly
recommend Jacob Grantrdquo
ACCOUNTABILITY
Q1 BUDGETVARIANCE
Q2 BUDGETVARIANCE
Q3 BUDGETVARIANCE
Q4 BUDGETVARIANCE
YTD
Gross Potential Income $31545 $31545 $31545 $31545 $126180
VacanyNonpayment $1372 435 $96007
Effective Gross Income $30173 68 $30173
Operating Expenses $5256 -743 $5256
Net Operating Income $24917 258 $0 $0 $0 $24917
ANNUAL QUARTERLY MONTHLY
Gross Potential Income $126180 $31545 $10515
VacanyNonpayment $6309 $1577 $526
Effective Gross Income $119871 $29968 $9989
Operating Expenses $22712 $5678 $1893
Net Operating Income $97159 $24290 $8097
ACTUAL
BUDGET
11JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
Inspections are a vital part of meeting financial goals on real
estate investments Results give management guidance on
deferred maintenance potential lease violations and other
insights about your investment
PROPERTY MANAGER INSPECTIONSIn order to respect and increase the comfort of your high quality
tenants Property Manager Inspections are only scheduled when
a potential lease violation comes to our attention
FREQUENCY As needed
COST $0
PREVENTATIVE MAINTENANCE INSPECTIONS
A maintenance inspection is performed during tenancy
It can be scheduled on a bi-annual or quarterly basis on
the preventative maintenance plan The purpose of this
20-point inspection is to solve small maintenance issues
such as furnace filter replacement tub caulking and slow
water leaks prior to them becoming big problems provide
snapshot of potential lease violations and give a condition
report of the property
FREQUENCY Bi-annual or Quarterly
COST $35-$55 depending on sizeunit count
DRIVE-BY INSPECTIONSJacob Grant has designed and developed a mobile application
for iPhone and Android that is specifically built to give you
a curbside report of your property The one page pdf report
includes a report and pictures
FREQUENCY Intermittent or by request
COST $0 for intermittent or $49 per request
Jeff Anderson
ldquoWhen i became interested in building a real estate portfolio I contacted all the
local property managers Jake Durtschi at Jacob Grant Property Management stood
out because of his willingness to work with me so I could grow my portfolio faster
which resulted in a win-win for both of us
With Jacob Grant I stay very involved in major decisions quarterly reporting
and reviewing property inspections Yet I let them handle lease contracts
finding quality tenants and the day-to-day needs
Jake and his staff are very courteous in keeping me apprised of move outs and
other items that i have interest in Irsquove referred family and friends to Jacob Grant
and I will continue to do sordquo
InspectionsINSPECTIONS
9JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accounting
ACCESS TO FINANCIAL
RECORDS
In addition to providing monthly detailed and customizable
reports detailing transactions on rental properties there are
several accounting services provided These services are
designed to protect owner funds and tenant funds from misuse
theft and comingling
bull Monthly statement with online access
bull Separate bank account for operating funds
bull Separate bank account for tenant security deposits
bull Bi-monthly security deposit balance
bull Third party reconciliation
bull Fidelity Bond protects funds up to $100000
There have been several local and state level stories in
which property managers or companies mismanage funds
The problem is not typically theft The problem is usually
competency Mishandled or co-mingled funds can lead to
substantial loss in investorrsquos security deposits or reserves
The common thread is that the property manager is able to
hide the loss by covering it with other assets
Avoid becoming a victim by knowing how your funds are held
and what practices are being implemented to protect funds
related to your rental property
When management begins all investors are given the
opportunity to detail their financial goals in the format of
an annual budget This process clarifies expectations and
becomes the first step in specifically meeting owner goals
Once these financial goals are created they are referenced
once each quarter Goals are referenced in a ldquoGoals Versus
Actualsrdquo report that analyzes financial performance compared
to the budget This process increases communication
and accountability and keeps property managers and
owners focused on the goal With the end in mind portfolio
performance improves substantially
Goals directed management also provides investors with
a projection tool to create a detailed roadmap in moving
forward with other real estate investments With historical
data on different types of property investors can project likely
performance on prospective real estate investments in order to
determine whether the investment fits with investor goals
ACCOUNTING
GOALS DIRECTED MANAGEMENT
10JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accountability
Nathan amp Teresa Hancock
Goals directed management improves accountability and communication between property manager and owner Accountability to
bottom line performance creates measurable investment results The three results reviewed are total income total expenses
and net operating income This simple roadmap clarifies expectation and accountability and maximizes performance
ldquoWe hired Jacob Grant Property Management to manage our 82-unit
apartment complex We interviewed several people for this complicated
and demanding job and we decided on Jacob Grant Property Management
because of their professionalism and experience We have never regretted
our decision
Jake and his team have implemented many new ideas that have
improved the property and brought in good residents I highly
recommend Jacob Grantrdquo
ACCOUNTABILITY
Q1 BUDGETVARIANCE
Q2 BUDGETVARIANCE
Q3 BUDGETVARIANCE
Q4 BUDGETVARIANCE
YTD
Gross Potential Income $31545 $31545 $31545 $31545 $126180
VacanyNonpayment $1372 435 $96007
Effective Gross Income $30173 68 $30173
Operating Expenses $5256 -743 $5256
Net Operating Income $24917 258 $0 $0 $0 $24917
ANNUAL QUARTERLY MONTHLY
Gross Potential Income $126180 $31545 $10515
VacanyNonpayment $6309 $1577 $526
Effective Gross Income $119871 $29968 $9989
Operating Expenses $22712 $5678 $1893
Net Operating Income $97159 $24290 $8097
ACTUAL
BUDGET
11JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
Accounting
ACCESS TO FINANCIAL
RECORDS
In addition to providing monthly detailed and customizable
reports detailing transactions on rental properties there are
several accounting services provided These services are
designed to protect owner funds and tenant funds from misuse
theft and comingling
bull Monthly statement with online access
bull Separate bank account for operating funds
bull Separate bank account for tenant security deposits
bull Bi-monthly security deposit balance
bull Third party reconciliation
bull Fidelity Bond protects funds up to $100000
There have been several local and state level stories in
which property managers or companies mismanage funds
The problem is not typically theft The problem is usually
competency Mishandled or co-mingled funds can lead to
substantial loss in investorrsquos security deposits or reserves
The common thread is that the property manager is able to
hide the loss by covering it with other assets
Avoid becoming a victim by knowing how your funds are held
and what practices are being implemented to protect funds
related to your rental property
When management begins all investors are given the
opportunity to detail their financial goals in the format of
an annual budget This process clarifies expectations and
becomes the first step in specifically meeting owner goals
Once these financial goals are created they are referenced
once each quarter Goals are referenced in a ldquoGoals Versus
Actualsrdquo report that analyzes financial performance compared
to the budget This process increases communication
and accountability and keeps property managers and
owners focused on the goal With the end in mind portfolio
performance improves substantially
Goals directed management also provides investors with
a projection tool to create a detailed roadmap in moving
forward with other real estate investments With historical
data on different types of property investors can project likely
performance on prospective real estate investments in order to
determine whether the investment fits with investor goals
ACCOUNTING
GOALS DIRECTED MANAGEMENT
10JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
Accountability
Nathan amp Teresa Hancock
Goals directed management improves accountability and communication between property manager and owner Accountability to
bottom line performance creates measurable investment results The three results reviewed are total income total expenses
and net operating income This simple roadmap clarifies expectation and accountability and maximizes performance
ldquoWe hired Jacob Grant Property Management to manage our 82-unit
apartment complex We interviewed several people for this complicated
and demanding job and we decided on Jacob Grant Property Management
because of their professionalism and experience We have never regretted
our decision
Jake and his team have implemented many new ideas that have
improved the property and brought in good residents I highly
recommend Jacob Grantrdquo
ACCOUNTABILITY
Q1 BUDGETVARIANCE
Q2 BUDGETVARIANCE
Q3 BUDGETVARIANCE
Q4 BUDGETVARIANCE
YTD
Gross Potential Income $31545 $31545 $31545 $31545 $126180
VacanyNonpayment $1372 435 $96007
Effective Gross Income $30173 68 $30173
Operating Expenses $5256 -743 $5256
Net Operating Income $24917 258 $0 $0 $0 $24917
ANNUAL QUARTERLY MONTHLY
Gross Potential Income $126180 $31545 $10515
VacanyNonpayment $6309 $1577 $526
Effective Gross Income $119871 $29968 $9989
Operating Expenses $22712 $5678 $1893
Net Operating Income $97159 $24290 $8097
ACTUAL
BUDGET
11JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
Accountability
Nathan amp Teresa Hancock
Goals directed management improves accountability and communication between property manager and owner Accountability to
bottom line performance creates measurable investment results The three results reviewed are total income total expenses
and net operating income This simple roadmap clarifies expectation and accountability and maximizes performance
ldquoWe hired Jacob Grant Property Management to manage our 82-unit
apartment complex We interviewed several people for this complicated
and demanding job and we decided on Jacob Grant Property Management
because of their professionalism and experience We have never regretted
our decision
Jake and his team have implemented many new ideas that have
improved the property and brought in good residents I highly
recommend Jacob Grantrdquo
ACCOUNTABILITY
Q1 BUDGETVARIANCE
Q2 BUDGETVARIANCE
Q3 BUDGETVARIANCE
Q4 BUDGETVARIANCE
YTD
Gross Potential Income $31545 $31545 $31545 $31545 $126180
VacanyNonpayment $1372 435 $96007
Effective Gross Income $30173 68 $30173
Operating Expenses $5256 -743 $5256
Net Operating Income $24917 258 $0 $0 $0 $24917
ANNUAL QUARTERLY MONTHLY
Gross Potential Income $126180 $31545 $10515
VacanyNonpayment $6309 $1577 $526
Effective Gross Income $119871 $29968 $9989
Operating Expenses $22712 $5678 $1893
Net Operating Income $97159 $24290 $8097
ACTUAL
BUDGET
11JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
WHAT IS THE INVESTMENT FOR PROPERTY MANAGEMENT
Would you rather have a 6 fee with half a monthrsquos rent for
a lease signing fee Or would you rather pay 10 of all rent
collected
EXAMPLE
You have a house that rents for $800month
6 of rent for the year is $576
Lease signing costs $400 = $976
10 of rents = $960
With turnover typically being the largest expense in property
management do you want to pay your management company
to create more turnover Owners are responsible for the costs
of advertising This includes payment for internet advertising
and Internet Listing Sites Jacob Grant secures advertising at
a discounted rate That discounted rate gets passed to the
property owner
DO YOU OFFER DISCOUNTS FOR MULTI-PROPERTY PORTFOLIOSYes there is typically a discount for multiple properties
Other factors included are condition of the property type
location and owner goals Pricing ranges between 8 and 10
There is a completely different management structure and
pricing schedule for apartment communities that are above
100 units
WHAT ARE THE CONTRACT CANCELLATION TERMSWe guarantee your satisfaction There is no fee for
cancellation The contract can be canceled with 30 days of
written notice
WHAT DO YOU DO WHEN A TENANT MOVES OUTWhen we receive a 30 day notice for a tenant to move out
we begin marketing immediately This increased exposure
substantially decreases vacancy periods (we average 3-4
vacancy rate)
The business day after the tenant moves out we have a move
out inspection The move out inspection includes a detailed
report along with a video Repairs housekeeping and carpet
cleaning are scheduled immediately A short make ready period
is important in order to make walk throughs available as soon
as possible
The move out process includes a detailed financial statement
to the tenant that moved out detailing any charges for items
that are above ldquonormal wear and tearrdquo as defined by the Idaho
Landlord Tenant Handbook
WHAT DO YOU DO IF A TENANT DOES NOT PAY RENTWe serve a 3 day pay or quit notice as provided by Idaho Law
If we have not received rent within 3 days we provide the
landlord with recommendations to move forward to evict
This process is streamlined to leave you to make the decision
but out of the process
WHAT IS THE APPROVAL PROCESS FOR MAINTENANCEProperty managers are required to have written permission
in order to complete maintenance over a dollar amount
(See contract It is typically $200) The exclusion to this is
emergencies or health and safety concerns Examples include
a flooding basement or non-functioning heat during subfreezing
temperatures Owners will still see communication but if we
cannot contact you the work will still be scheduled in order to
keep the tenants safe
FAQS FAQs
Property Management Fee Schedule
No Standard Lease Signing Fee
MANAGEMENT FEE 10 LEASING FEE $0
MARKETING FUND $0 RENEWAL FEE $100
Minimum $100month
12JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
WHEN DO YOU PAY OWNERSFunds are dispersed to owners on the 15th of every month
In the event that the 15th is a weekend or a holiday funds will
be dispersed on the following regular bank day All funds are
dispersed via ACH into a checking account of your choice
WHAT ACCOUNTING DO YOU OFFERMonthly accounting is provided to owners after funds are
dispersed on the 15th You will see line item by line item
income and expenses on your monthly report You will receive
a copy of paid invoices as well as your monthly reserve
balance Additional reporting can be requested All 1099s are
paid out annually to vendors on behalf of owners Year-end
statements are provided to owners for tax purposes
DO YOU PROVIDE ACCESS TO ONLINE FINANCIAL STATEMENTSOwners have an ldquoOwnerrsquos Portalrdquo in which they can view all
of their financial statements at any time Sensitive financial
information is protected by a secure connection The secure
connection uses AES_256_CBC which is a 256 bit encryption
WHAT DO YOU DO WITH LATE FEESLate fees require owners to wait for their funds and property
managers to chase tenants for rent Therefore they are split
50-50
SHOULD I ALLOW PETS IN MY RENTAL PROPERTYPets are a difficult decision They have the potential
to do serious damage but if you refuse them you are
removing approximately 60 of the market Typically our
recommendation is to allow pets and remediate the risk by
holding a larger deposit The deposit is based on carpet
replacement cost Pets present the most risk to carpets
Even if you decide to accept pets there is a list of pets that
are not allowed because our liability policy and most policies
held by owners have exclusions with these dogs To see a list
of the breeds you can click on application requirements in the
prospective tenant section on jacobgrantcom
Jacob Grant has a pet application process and scoring system
that measures potential risk of the pet and cost risk if the pet
does damage There is additional deposit to help reduce this
exposure
Fair housing requires that service animals are allowed even in
ldquono-petrdquo housing Charging additional rent or security deposit
for a service animal is illegal If someone has a service animal
and completes the appropriate paperwork you will be notified
FAQs
13JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
WHAT ABOUT UTILITIESUtilities will be addressed when you sign a contract with Jacob
Grant Property Management A landlord agreement will be
created by the owner and listed as follows
Ownerrsquos name or company name
co Jacob Grant Property Management
490 Park Ave Suite 1
Idaho Falls ID 83402
These agreements decrease the cost of turning utilities on
and off and greatly reduces the risk of frozen pipes during
the winter
HOW LONG WILL IT TAKE TO RENT MY PROPERTYThere are many factors that go into renting your property
PRICE
When rental properties are over-priced they typically do not
rent quickly
CLEANLINESS AND REPAIR
Rental properties that are clean and in good repair show better
and therefore rent more quickly
SEASON
There are not as many people looking for rental properties in
winter months This smaller pool of renters reduces the speed
with which properties rent
During the spring and summer when rent is set correctly
properties will typically rent within 14 days of being advertised
Many times if we are marketing vacancies while the previous
tenants are still living in them they rent even more quickly
Note Jacob Grant Property Management uses Lease Targeting
as much as possible Lease Targeting means we change the
lease end dates according to the season If we are marketing
a rental property in November we will try for a shorter term
lease and sometimes we are even able to secure 15-18
month leases Though this is not always possible Lease
Targeting reduces your overall vacancy
WHAT SERVICES ARE OUTSOURCEDAll housekeeping handyman repairs plumbing electrical
and other services to your property are outsourced We use
multiple companies in each area as this increases speed and
quality of work This reduces property vacancy
Every company is required to sign a contract provide proof
of liability insurance and workers compensation and show
consistent professionalism with tenants They are also
required to provide quality repairs consistent with pricing
We typically donrsquot go with the very cheapest service in town
as the long term results are not beneficial to properties or
owners and typically increase liability risk in the case of injury
or damages
HOW OFTEN DO YOU CHECK ON THE PROPERTYBesides move-ins and move-outs there are multiple ways we
keep eyes on the property
DRIVE-BY INSPECTION REPORT
This report is exactly like it sounds It is a curbside report
that reports the appearance and condition from the exterior
Frequency is between monthly and quarterly Cost is 0 if
initiated by Jacob Grant Cost is $49 if requested by owner
MAINTENANCE SURVEYS
These maintenance inspections check on the major functions
of the interior and exterior of the home They are scheduled
2 3 or 4 times per year depending on what you decide on
your preventative maintenance plan Frequency is between
bi-annually and quarterly Cost is between $35 and $55
depending on size of property
PROPERTY MANAGER INSPECTION
These are not regular inspections as it can greatly
inconvenience and reduce comfort of high quality tenants
Property managers sometimes deem these necessary when
other violations are present Frequency is as needed
Zero cost
FAQs
14JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
FAQs
HOW DO YOU HANDLE ldquoBAD TENANTSrdquoWhen a tenant violates the lease we follow up with a lease
violation This is a form that outlines the violation and
references the portion of the lease that is violated There is
an associated fee and sometimes follow up interior or exterior
inspection depending on the violation
Sometimes a neighbor will know about a violation before we
do In the case that we receive information from a neighbor
we follow up with verification of the violation
WHAT TYPES OF PROPERTIES DO YOU MANAGEWe manage single family homes apartment complexes
4-plexes duplexes condos and townhomes In addition
we manage apartment communities
WHAT ARE YOUR CERTIFICATIONSWe are highly involved with the National Association for
Residential Property Managers (NARPM) and attend national
conferences to facilitate ongoing education and stay up-to-date
with industry best practices
We are also highly involved with the Institute of Real Estate
Management (IREM) This is a highly respected property
management education system which offers certifications
such as the Accredited Residential Manager (ARM) or the elite
Certified Property Manager (CPM)
Jacob Grant encourages all staff to take IREM classes through
pay increase incentive and scholarship support for financial
help We currently have one CPM on staff and others that
are on their way We believe education increases our ability
to meet ownerrsquos goals increases our professionalism and
maximize our potential
HOW DO YOU COLLECT AND STORE SECURITY DEPOSITSSecurity deposits are collected in guaranteed funds prior to
tenants receiving keys to the property Security deposit funds
are considered tenant funds until move out therefore the funds
are held in a separate escrow account This account is verified
and reconciled twice per month At move out the funds are
dispersed to pay qualified repairs and cleaning or dispersed
back to the tenant according to the lease and Idaho State Law
WHAT IS THE AVERAGE LENGTH OF TENANCYThere is a lot of variability in length of tenancy Typically there
are shorter occupancy periods in studios and 1 bedroom
apartments and in homes that rent for more than $1300
Our average occupancies are between 12 and 18 months
The longest occupancy periods tend to be associated with
properties that are between $700 and $1200 We see
occupancies that last 2-3 years regularly We have seen
tenants live in a studio apartment for 10 years and we have
had people live in a 6000 sqft home for 2 months These
situations are atypical and not the rule
WHAT RENT COLLECTION OPTIONS DO YOU OFFER TENANTSTenants can pay with a check money order cashierrsquos check
credit card debit card or ACH payment We accept almost
everything except cash The ldquono-cashrdquo policy protects
your funds
HOW MANY TENANTS HAVE YOU EVICTED IN THE LAST YEAROur eviction rate for tenants that we place is less than 1
For properties that we manage after someone else has placed
the tenants the eviction rate can be as high as 10 depending
on the screening procedures used prior to our management
15JACOB GRANT PROPERTY MANAGEMENTCall for your free consult (208) 522-3138
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
THANK YOU
Thank you for taking the time to learn about Jacob Grant Property Management
Letrsquos find opportunities to grow your revenue Call for a free consult today (208) 522-3138 or supportjacobgrantcom
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