Here are answers to the questions our owners most commonly ask!
What services are included in the management fee?
- Property Management Agreement
- Showing and Listing the Property
- Marketing and Advertising
- Applicant Screening & Reference Investigations
- Rental Document Preparation
- Rental Billing and Collection
- Coordination with local housing authorities
- Monthly Owner Statements
- Online Payment Services
- Walk-thru Inspections with Photos
- Lease Renewals
- Maintenance Coordination
- Tenant Insurance Policies
What makes you different than other companies?
- Our company specializes in tailoring to the needs of our owners and their goals. As real estate investors ourselves, we understand that every property is different and there are different strategies to achieving the results that owners want. We can provide the data that you need to make more informed decisions for the future of your investment.
Do you handle tenant requests/complaints?
- Each tenant will have their own tenant portal where they can pay rent, request maintenance, and submit any complaints for resolution.
How often is the property inspected?
- Inspections are conducted 2-4 times per year as necessary and recorded in AppFolio.
- Inspections include plumbing fixtures, HVAC units and filters, all rooms, and exterior.
What is your policy for late rent?
- Rent is due on the 1st and is considered late by the 5th. Late fees go into effect on the 6th.
- Eviction notices are served on the 10th unless overridden by the owner.
What bills are tenants responsible for?
- Owners have the option of covering utilities and landscaping for tenants or requiring tenants to cover them. If the owner covers utilities or landscaping, this will be factored into the rental price.
Are there any additional fees or charges not included in the management fee?
- Tenant Placement: 50% of 1st month’s rent
- Lease Renewal: 15% of 1st month’s rent
- Eviction Fee: $150 + applicable legal fees
- Setup Fee: $100
- There is no charge during periods of vacancy.
What bills are owners responsible for?
- HOA Dues
- Mortgage
- Insurance
- Property Taxes
What is your tenant screening policy?
- We conduct screenings through our software, AppFolio. It generates a credit, criminal, proof of income, and eviction report.
- Acceptable qualifications are customized to suit owner preferences.
How is my owner payment handled each month?
- We pay out owner portions on the 15th of the month or the closest business day with the first payment occurring during the first full month of rent received. Rent will cover all property bills first including maintenance and management fees. It will also refill the maintenance reserve to its full capacity if needed. Owners are then paid out the remainder.
- You have two options for receiving payment, paper check or direct deposit.
What is your showing process for potential applicants?
- Once a property is listed for rent, showings will be scheduled through AppFolio. Either a member of my team or I will be onsite to meet the potential applicant, walk them through the property, and answer any questions.
- We do not allow potential applicants to access the property for a showing unattended.
What is the term of the management agreement?
- The initial term is always for 1 year. During the first year, the owner can provide a 30-day written notice to cancel the agreement. At the end of the year a 30-day written notice may be provided for cancellation, or a new agreement will be created and signed.
