Owner/Tenant Info

What we offer our clients: 

Consultation of Your Needs 

• Evaluate your real estate goals 

• Preview your property 

• Review Management and Lease agreements 

• Plan a marketing strategy with market analysis 

• Review long-term planning & budgeting for repairs 

• Discuss tax implications and insurance requirements 

Administrative Services, Including: 

• Collection of rent 

• Lease negotiation and preparation 

• Monthly account statements sent with copies of invoices for repairs 

• Direct deposit of rent proceeds into your bank 

• Generation of itemized year-end statement and IRS Form 1099 reporting 

Marketing 

Tenant Processing 

Property Inspection 

Maintenance, Repairs, and Preventive Maintenance 

click on this link Application/Forms to see our Management Agreement, Application for Lease and Lease 

Day to Day Services: 

•Effectively Market your property through the newspaper, our website and extensive network contacts. 

•Qualify prospective tenants through a rigorous selection process. 

•Preparation and execution of the tenant agreement 

•Collection of rent 

•Monitor rental and when necessary maintain ongoing contact with the tenant to ensure that payment is made. 

•Organise Repairs and Maintenance 

•Carrying out comprehensive ingoing, outgoing and routine inspections 

•Taking photo's at the beginning of each tenancy 

•Payment of invoices 

•Preparing monthly statements 

•Prepare and present cases before the court system 

Owners Responsibility: 

•Always advise Colonial Realty & Property Management on any changes to your address, contact numbers and bank account details in writing. If it's a joint bank account both signatures will be required. 

•If traveling overseas please leave contact details or a power of attorney to make decisions on you behalf. 

•Allocate sufficient funds to maintain the property. 

Tenant Information 

How much is the application fee? 
The fee is $35 

What do you look for in the credit check? 
We run a full report and the main concern for us is that you haven’t been evicted in the past year, or routinely been late with your rent or other payments. 

What is the security deposit? 
The security deposit is equal to the rent (i.e. $800 per month for rent= $800 for security) 

What is the total I would need to move in? 
You need the first month’s rent plus the security deposit plus the app fee. 

Example (Rent $800+Security $800+ App fee $35) = $1635 at time of lease signing. 

If I find the home I want will you hold it for me? 
We will only hold a property for a maximum of 2 weeks with a non refundable security deposit. In some case we will only hold the property for 72 hours with security because of high demand for a property. 

Do you take checks? 
Yes, but if they bounce there is a returned check fee of $50, and your rent is late and fees accrue from the 5th of the month until your rent is paid in full. 

How do we set up a time to see a property? 
Give us a call. Make sure you have your finances in order. We won’t waste your time if you don't waste ours. 

Do you pay for any of the utilities? 
No, it is your responsibility to set-up your own utilities with the proper companies. 

Will you work with me on my security deposit? I don’t have it all right now. 
No, sorry we cannot make any exceptions or changes to this policy. 

How long is the lease agreement? 
12 months from date of signing 

Tenant Responsibilities: 

Tenants must honor their agreements by: 

 

  • paying rent on time




  •  
  • keeping the unit clean and sanitary




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  • using gas, electrical, and plumbing fixtures properly 
    fixing or paying for repairs of things they or their guests damage




  •  
  • not removing anything from the structures or buildings that they have not put there and not allowing anyone else to do so




  •  
  • using the premises as a place to live with the rooms used for their intended purpose; for example, the bedroom is not a kitchen




  •  
  • Landlord Rights 

     
    • to expect the tenant to follow the rules of the rental agreement




    •  
    • to receive rent on time




    •  
    • to have the unit or house kept clean




    •  
    • to have tenants respect the rights of neighbors




    •  
    • to have the tenant repair or pay for repair to things he/she, or their guests damage




    •  
    • to limit the number of people living in the unit




    •  
    • to sell the building

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Colby Cumber
Colonial Realty & P. M. 

1101 Professional Drive
Williamsburg, VA 23185
Phone: 757-291-3323
Contact Me

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