Jim Kealey, is the Co-Founder and VP of Operations at Sandalwood Property Management. With 35 years of property management under his belt, we decided to get to know him and his management company little better by hitting him up with some Q&A.
Question: Where are you originally from?
Jim’s Answer: I am originally from Ottawa Canada.
Question: What lead you to Brevard County?
Jim’s Answer: We moved to Brevard county to be closer to our three grandchildren, which we are loving.
Question: What are the various services that you offer?
Jim’s Answer: We offer tailor made property management solutions for investors of all sizes. No two investors are the same so there is no generic property management solutions.
Question: How do you determine rent amount?
Jim’s Answer: Rental rates depend on a number of key factors. The top factor is location then we look at vacancy rates. We also do a comparable analysis (CMA) on the investor’s property. Condition of the property is important, and we help correct any negative issues we see to make the property very attractive to potential tenants.
Question: Are you currently an active real estate investor in your market?
Jim’s Answer: Yes, we are continually active as investors in both residential and commercial as well as developing real estate syndication’s for passive sophisticated investors.
Question: What are your management fees and/or pricing options for a rental?
Jim’s Answer: Management fees are very subjective depending on a number of factors including rental amount and location of the property.
Question: How do you collect rent from tenants?
Jim’s Answer: Rents are collected through our electronic portal and we disperse money’s to owners electronically. We have all the latest technology available from utilizing software for accounting, to organize maintenance tickets and providing you the property owner transparency through an online portal at anytime from anywhere!
Question: What steps do you take to market properties?
Jim’s Answer: We have the properties listed on the MLS as well as a number of internet sites.
Question: What are your income and screening requirements for applicants?
Jim’s Answer: There are rules of thumb, but standard protocol is 3 times the rental amount for income as well as a clean credit record and criminal background check as well. Our background software also checks for registered evictions in all 50 states. We look at the quality of employment as well as time employed. Our leases are prepared by our real estate attorney here in Florida as well.