Put Our Property Management Team To Work For You!
Have you been frustrated trying to manage your residential properties yourself? The nights spent with tenants, the hours spent on maintenance, and the paperwork! Or, has your current property manager taught you a few things about what you need to be looking for in your next one? Maybe you are considering renting the home you are living in currently? You have come to the right place! WILMOTH has been known for over 20 years as the best choice for local, ethical, and transparent services.
As you compare WILMOTH to other companies, let us quickly point out some differences.
Team: When you select WILMOTH for your property management and leasing needs you hire our whole team..not just a single manager. In addition to your Property Manager, you also will work with your personal Account Representative and your Account Bookkeeper. Along the way, you can expect there are other members of the WILMOTH team that ensure our promise of providing a full-time management team.
Three Simple Fees-Management/Rental/Renewal: WILMOTH Group offers a unique, simple, flat fee structure that will save you money and not leave you surprised with various junk add-on fees commonly experienced at other companies. These fees are based on your individual rental property with discounts offered for multiple property portfolios. To see how much it will cost to manage your home, simply enter your rent received or expected rent received in our calculator on this page.
Experience: WILMOTH has been in the management and leasing business since 1996. In the following decades we have learned quite a bit about managing other people’s properties. We have experienced those unusual events and circumstances and won’t need to learn how to handle them on our client’s dime.
Transparency & Ethics: From the beginning we decided to use our family name on our business to convey trust and responsibility. We can’t hide from our responsibilities and duties behind some name that does not identify WHO we are!
Local: Our property management and leasing services are provided with local, knowledgeable, WILMOTH employees. WILMOTH is not a franchise with a national program for managing your uniquely local properties.
Please review the rest of this page to obtain a full understanding of our services and to get a clear understanding of what you can expect when you select our company for your leasing and management needs. When you are ready to get started, just fill in the form and we will make the next move. Over 20 years we have learned a lot about how to be the best property management company! You have my promise we will not settle on that experience, but will always strive to earn your business and never stop improving!
Thank You For Your Consideration,
Joel W. Wilmoth
Why WILMOTH For Your Management Needs?
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WILMOTH Management and Leasing Features at a Glance
Multiple Property Discounts
Offering Significant Savings to portfolio clients. We appreciate clients who decide they want to use WILMOTH for their investing needs and offer multiple property discounts. Learn More
Thorough Tenant Screening
One of the best ways to prevent evictions is to not enter into a lease with the wrong tenant. We keep our eviction rates very low by thoroughly reviewing background of all applicants. Learn More
Rentals on 70+ Sites
At WILMOTH, we know that our marketing must include signage and word of mouth marketing. Those traditional methods of advertising properties for rent are now in addition to the most powerful method..internet positioning. Learn More
WILMOTH serves as your advocate to provide maintenance, repairs and renovations at the true market cost. Owner's benefit from our 20 + years of experience and long-term relationships with our vendors and contractors. Learn More
24-7 Home Protection
Tenants are provided a toll free number to call in case of any after-hours emergencies. This number is answered by trained property managers with detailed instructions as to how to service all tenant emergencies. Learn More
We occasionally have to place tenants in our “Behavior Modification” program. This program places a great or good tenant on notice of their lease violation and provides a chance to fix the problem. Bad tenants do not qualify for this program. Learn More
Eviction Protection Guarantee
We want to avoid evictions at all costs. We offer this guarantee as our promise of the care and diligence to be taken with every WILMOTH tenant selection decision. Learn More
How easy is it for you to monitor the performance of your property? Very! We offer over 20 different reports on-line to allow you to see your investments in many, possibly new, ways. Learn More
Peace of Mind
WILMOTH is committed to ethical practice toward the public, our clients, their properties and tenants. By daily following the Golden Rule, and the principles of the NARPM Code of Ethics, we commit to the highest standards of professionalism. Learn More
At WILMOTH, our tenants pay their rent electronically. This speeds up the processing of your cash by at least three business days! We electronic ACH payments to our owners! Learn More
Property Value Creation
WILMOTH will be a factor for the improvements in your gross and net income. We can also make many suggestions of improvements that will help appreciation be maximized. Learn More
Cash Flow Maintenance
WILMOTH provides management services that include regular, dependable, cash flow to the owner.How do we provide cash flow maintenance? With documented and reliable systems.
Maintenance expenses for rentals can eat up any expected profit. Here are five easy ways to control maintenance expenses .read more
Maybe the better question is what are these pests? No..I am not talking about your non-paying, soon to be evicted, tenants! I am referring to the spiders, roaches, and God forbid termites, that might be hanging around your rental home. Worse yet, your tenants are not telling you about these pests because they assume you won’t do anything.read more
After months of getting your investment property prepared, you are now ready to reap the riches of rental ownership. Wisely, you have decided to use self-management. Self-management is just what it sounds like. Think the FSBO (for sale by owner) of rental properties. For all the same reasons, owners of properties make a decision to DIY (do-it-yourself). After all, nobody knows as much about the property as you!read more
In most property management relationships, a rental property owner is expected to establish a reserve account. Reserves are a specific amount of money that the property manager can access to deal with daily obligations, maintenance issues, and emergencies. The owner also agrees to make sure that the fund never falls below the specific reserve amount.read more
When you own or manage a property for rent you may be blamed for everything. A common misperception with tenants is that your dwelling (homeowners) insurance will also cover them. Tenants must understand that they need their own renters insurance to protect their personal belongings.read more
There are two reasons why a tenant's security deposit could change hands during the course of their tenancy. One is a change of ownership of their rental property. The other is a change of the property manager. Either change requires all parties to address the...read more
Frequently Asked Questions
- Property Management
- 1. Is there a Code of Ethics to guide property management operations?More
As members of the National Association of Residential Property Managers (NARPM), our company participates in regular Code of Ethics training. These are the standards of membership for the largest residential property management organization in the world.
WILMOTH Group has signed a statement that WILMOTH will operate under the standards of the NARPM Code of Ethics. This commitment includes the highest standards of ethical practice toward the public, our clients, their tenants, the care of your properties, and protection of your funds. We also commit to promote high standards of business ethics, professionalism, and fair housing practices.
Our Code of Ethics commits to Standards of Professionalism to:
- Protect The Public
- Not Discriminate
- Uphold our Duty to our Clients
- Commit to certain Tenant Obligations
- Care of Each Managed Property
- Protect all Funds in our Possession
- Provide Truth in Advertising
Do you prefer to hire a manager that has been educated and subscribes to a Code of Ethics?
WILMOTH Group makes ethical operations a keystone of our business.
Want to know more? Read the NARPM Code of Ethics and Standards of Professionalism, subscribed to by WILMOTH Group.
- 2. What happens if I need a distribution outside the normal monthly time?More
No Problem! WILMOTH understands your needs for distributions may not always fit a pre-defined schedule.
We know that sometimes the funds are not available at the normal distribution date, but maybe they are a week or two later. Just send us a request in writing (email is fine) and we will send you your available funds whenever they are needed!
In the same manner, if we have a large bill we have to pay for your property, and the reserves do not cover it, we might request you to send us more money at other times in the month.
After all, we are partners in this venture, and the schedule sometimes needs to be broken!
- 3. Does WILMOTH Have A Monthly Distribution Schedule?More
WILMOTH processes the receipt and accounting of funds the same way every month to follow this distribution schedule.
1st - 5th of month- Management Fees for previous month are applied
5th- 10th of month- all outstanding bills on properties are paid
10th to 13th of month- final review of each owner's statement
By the 15th of the month- Monthly distributions are electronically sent to each owner's bank account
- 4. Do You Require A Reserve Balance? How Is It Managed?More
Yes, we do ask our owners to keep $300 in reserve for emergencies and incidentals associated with maintenance of the property.
Specifically an Owner will agree to submit an initial $300 per unit managed and to maintain a $300 balance in the Reserve. The Reserve is only to be used for emergencies, minor maintenance requests, and other incidentals.
Without the prior written consent of the Owner, WILMOTH may also make ordinary repairs and alterations (provided the expenditures for any one item of repair or alteration shall not exceed the sum of $300.00). Under circumstances that WILMOTH reasonably considers to constitute an emergency, the Reserve funds may not be adequate and the Owner will be asked to replenish the account and reimburse WILMOTH.
- 5. What if a tenant is placed in my property and they quickly need to be evicted?More
As hard as we attempt to screen all applicants (with credit, employment, previous rental and criminal history reports) there are no guarantees that your new tenant has a history that predicts future performance. When all of our screening is not enough, and we evict a tenant within the first six months of tenancy, WILMOTH protects our owner clients with an EVICTION PROTECTION GUARANTEE. Simply, after the eviction is completed, WILMOTH will NOT charge a new Finder Fee to locate a new one!
We want to avoid evictions at all costs. We offer this GUARANTEE to move a lot of the risk from our clients to us if the tenant does not work out. It also means we have skin in the game, with you, in selecting the best tenants.
How WILMOTH Tenant Screening Reduces Evictions
Life as a rental property owner can be either sweet or sour and it usually starts with the people who occupy your property. When we are renting a property it is always exciting to be told by a potential tenant that they wish to complete an application for rent. The application process is a most important step to determining whether or not to enter a lease.
- 6. What happens when there is a tenant emergency with my house and it is outside normal business hours?More
WILMOTH managers recognize that your tenant's do not want to be left stranded with no heat, a broken pipe, or any other tenant emergency that can cause damage or discomfort. Of course, as an owner, you want to know your home is protected. How we provide trained, professional, service on holidays and the middle of the night is one of the areas where our solutions provide clients unique service.
We are affiliated with an after-hours emergency dispatch service. In the rare event of an after-hours tenant emergency, tenants are provided a toll free number to call. This number is NOT just a answering service, but trained property managers with detailed instructions from us as to how to service all tenant emergencies, and a directory of all of our contractors. This service means you are NOT depending on your manager to be able to answer the emergency call when they are sleeping or on a lake boating. It also means professionals are taking the tenants calls and assisting them. Often assistance is simply just providing instructions to stop the damage, or flip a breaker! If the trained manager determines the issue is a tenant emergency worthy of after-hours service (and costs) they will dispatch help immediately.
Tenants Reading This- our after hours service line is 1-855-559-5525.
- 7. How Easy Is It For Me To Monitor The Performance Of My Property?More
Very! We offer a web-based owner portal that you will gain access to when you first sign up with WILMOTH. When you log in, you will be able to see information on your properties, and multiples of different financial reports that will allow you to see performance on as frequent of a basis as you desire! The really great part of this owner portal is there are over 20 different reports available to allow you to see your investments in many, possibly new, ways. These reports may be printed or saved as a pdf file on your computer. Updated daily, and always available, WILMOTH transparency starts with your Owner portal!
- 8. What is your process of documenting the condition of my home at tenant move in?More
The tenant move in process allows us to make every effort to demonstrate and document the condition of your property. We also stress to all owners that a home should first be in move-in condition so this process is one of demonstrating and not documenting. Nevertheless, there are likely to be items found during the move-in. The tenant should be made to feel comfortable that reasonable items found in the first week (this is a variable measure-whatever seems adequate) should be reported. Unless it is considered move-in damage, the tenant should feel comfortable that the owner will repair the item and it not be considered their responsibility or potentially something to be offset with their deposit.
Most importantly, the move-in inspection allows for documenting the condition of the home. We keep this record, along with photographs we take prior to the move-in to have an accurate representation of the condition of your home before we gave the keys to the tenant.
To learn more about our move-in process:
The Tenant Move In
The tenant move in process we have created and reformed through the years allows us to accomplish two important objectives:
1. Note and document the move-in condition for later reference
2. Demonstrate the home’s important features to the tenant
- 9. What are the timelines for cash flow through my property management account?More
When you own investment rental property, your returns are measured in cash flow and appreciation.
WILMOTH will provide management services with a goal of providing the owner regular, dependable, cash flow. How do we provide cash flow maintenance? With documented and reliable systems.
Cash flow is generated from rent. Rent is paid by tenants. WILMOTH will be selective and choose a tenant that will pay and pay on time. If a problem arises, we will move quickly to remove the tenant and find another one to eliminate down time.
As those monthly rent payments are received, we systematically process your funds and deliver them to you each and every month. Electronically to your designated bank account to speed up the process.
Our cash flow maintenance timelines:
- 1st – 5th of month- Management Fees for previous month are applied
- 5th- 10th of month- all outstanding bills on properties are paid
- 10th to 13th of month- final review of each owner’s statement
- By the 15th of the month- Monthly distributions are electronically sent to each owner’s bank account.
Every month..rinse and repeat!
- 10. Will I save any money if I bring my portfolio to you to manage?More
Yes you will! We appreciate clients who decide they want to use WILMOTH for their investing needs and offer discounts. Unlike some companies, the discounts on management fees are not based on all units being within a specific building or geographic area. Our discounts are based on units owned by ownership unit or party. We know that many owners will have properties under different entities. The key is majority ownership by the client. If you have a large portfolio, lets discuss how we can facilitate the ownership groups.
The fee discount starts with six units managed. The entire portfolio's management fees are totaled and a 10% credit is applied. If the owner has 16 or more units, the credit is applied in the same manner but increases to 15%.
We hope all of our multiple property owners will consider the benefits of working with WILMOTH to increase their returns.
- 11. What if you find out my tenant is violating the lease?More
Unfortunately, tenants break leases. Several questions are reviewed when this occurs.
Is this a great, good, or bad tenant?
Does the tenant realize they are violating the terms of the lease?
If the tenant is a great or good tenant, they may not be aware they are violating the lease. If they are a bad tenant the lease violation may be the straw that breaks the lease!
We occasionally have to place tenants in our "Behavior Modification" program. The idea with this program is that a great or good tenant needs to be put on notice of their lease violation and given a chance to fix the problem. Bad tenants do not qualify for this program.
Examples where behavior modification may be used are making random lease payments, not paying late fees, unapproved pets in properties, or using the back yard as additional parking. With behavior modification we will:
Notify- give the tenant notice that there is a lease violation and determine a path to resolution.
Implement-implement the resolution plan with a strict deadline for remediation.
Inspect-to determine if the remediation was successful
The reason behavior modification is only offered to great and good tenants is nine times out of ten it will be successful. With bad tenants, there is such a low probability of success, rarely is it worth trying to remedy. The path taken should be to include the violation in the eviction.
We believe in tenant behavior modification and work with all parties to make it a success!
- 12. Is WILMOTH an electronic payment and receipts Manager?More
Yes..we have implemented a complete set of options to utilize modern electronic payment systems to expedite and facilitate the ease and flow of all cash receipts and distributions.
At WILMOTH, our tenants pay their rent electronically. We utilize an electronic payment system to expedite all financial matters. Tenants who pay their rent on-line speeds up the processing of your cash by at least three business days!
When a tenant enters a rent payment into our system a request is sent to their bank. In three business days or less WILMOTH either receives those funds, can see that they are delayed for some reason, or receive notice that the tenant has insufficient funds. Unfortunately, when a tenant has insufficient funds an owner will also see the rent payment entered by the tenant is reversed. Even with the possibility of a reversal, we know much faster of a problem than in the old days when collections came with paper checks and returns could take up to two weeks to discover!
We settle all accounts with our owners no later than the 12th of each month. A distribution to the owner is calculated and processed by an electronic payment via ACH. Depending on the type of bank account the owner has, receipt of these funds by ACH may take up to three business days. Owners receive an email immediately informing them of the amount of funds being sent to their bank account.
No paper checks! Faster funds delivery to you!
See our timeline and find out about other types of owner distributions.
- 13. How much do you mark-up repair and maintenance charges?More
Frankly, there are two basic models of property management companies.
One type of company is truly a contractor offering property management services. Their revenues are based on the ongoing need for maintenance and repairs at the homes they manage. They serve as your vendor for anything to do with your home and you pay the manager's prices for their repair and maintenance charges or renovation work.
The alternative is your manager serves as your advocate to provide maintenance, repairs and renovations at the true market value. Often you benefit from below market pricing due to the long-term relationship and volumes of business your manager refers to these vendors and contractors. The bids and receipts for payment are available for your inspection. The process is transparent. The manager is paid through their management fees or in the case of a vacant home, a separate agreed fee for overseeing the process.
We believe in transparency and serving as our clients advocate. We also do not think a system that motivates the manager to perform potentially unneeded repairs and maintenance is in the best interest of the owner. Therefore WILMOTH will always serve as your fiduciary and find solutions based on your best interests. Bids and receipts are posted and available for your inspection. We use trusted vendors who have worked with WILMOTH for many years. Our fees do not increase by providing maintenance and repairs to your occupied home.
Of course, it is the owner's choice what type of manager they prefer. We just like always being transparent.
- 14. Why Do You Want To Use Email-Can't We Just Talk?More
Please understand that you will get the fastest, and best, response if you utilize email. We work as a team and often your question or request needs to be routed to the right party. We are able to work most efficiently when all parties have access to the written word. We know many people still want to discuss on the phone their questions and requests. We respect that, but we also emphasize that you will get the fastest, most accurate, response when you utilize email. Sure..we can give you a call. In fact, we enjoy talking just as much as you! Your question will likely be answered much faster though if we can utilize our systems and team to research and respond via an email. Plus, we always have a written record of past discussions.
If you just have to talk..go ahead and call us. But now you know why we prefer to use email.
- 15. Can I expect positive property value creation?More
There are two investment components to the strategy of "buy and hold". One is income derived from the rental of the home. The second is appreciation of the asset. Over the last few years, income was the primary component as appreciation in many markets leveled out. Appreciation is cyclical and local so there is no set assumption as to when that component may create significant value. Your rental asset though is valued on both components. A standard valuation of a rental home is not a comparable sales study typically completed by a REALTOR-unless the buyer will be an owner-occupant.
So, the measurement of the value of your rental home becomes a factor of the successful gross and net income received combined with any increases in your equity. WILMOTH can certainly be a factor in the improvements in your gross and net income. We can also make many suggestions of improvements we have seen made to a property that will help appreciation be maximized.
For more ideas on how to improve the appreciation part of the increased value question, here are a couple of articles we prepared for our owners. Combine some of the strategies you will read in these articles with strong management practices and you will experience property value creation in a positive measure.
- 16. How Do I Find Documents Regarding My WILMOTH Property Management relationship?More
Visit the Owner portal at www.WILMOTHManager.com and log in. Click on the Rental Owner tab. All of your relevant documents (agreements, leases, manuals, addendums) can be found ready for download.
Ask WILMOTH For Help!
We are finding creative solutions for our clients every day!
Have a question or need for our services? Please get in touch!