Owner Frequently Asked Questions
Can I choose to disallow service animals, smokers, large families, etc.?We comply fully with the Fair Housing Act. This means that you cannot choose to disallow anyone that is a member of a protected class under the act. You can choose to disallow pets and not permit smoking in your home, but you cannot deny a service animal.
Do you provide me with a report of activity on my property?Yes, we will provide you a monthly report of rent, maintenance, repairs and other expenses incurred. This will be provided by the 12th of every month. If you have questions regarding your statement, please do not hesitate to contact us.
Why should I use a professional to manage my home?
While the reasons our clients choose professional management vary, here are some of the key reasons many people elect professional management over self-management:
- We handle maintenance and emergency repairs, allowing you to sleep at night.
- We enforce collection of rents and serve the proper notices upon failure to pay.
- We understand and apply the correct federal, state, and local laws, keeping you and your investment out of trouble.
- We know the local market, have an extensive network of contacts, and have advertising resources available to us at discounted rates. This allows us to effectively market your vacant home to prospective residents to get it filled.
- After you add up the increased rent we can often command, the discounts you'll receive on advertising, and the company rate we get on repairs, you'll often make more money than if you managed the property yourself!
Do I need a rental license and if so, how do I acquire one?If your property is within a city that requires a rental license, you are required to hold a rental license and renew that license with the city annually. Each city charges different fees for licensing. We complete all the paperwork on your behalf and if there are items that require attention, we will coordinate the repair. If your property is located in a city that does not require a rental license, then you are exempt from filing for a rental license.
Should I allow tenants with pets?
Depending on your property we typically recommend that pets be considered on a case-by-case basis, that you restrict the number of pets allowed, and specify size and breed. If pets are considered, we recommend charging a non-refundable and/or refundable pet deposit to the tenant which will be in addition to the security deposit charged.
When making this decision keep in mind that approximately ½ of all prospective residents have a pet. By not allowing pets you could potentially cut your prospective rental pool in half.
How do you determine monthly rent?One of our property managers will prepare a market analysis of your property and guide you to assist with determining the monthly rental amount.
How are maintenance requests handled?
If a repair request is above $300, and it’s not of an emergency situation, we will contact the owner for approval prior to proceeding with the repair. If a repair is below $300 and it’s a required repair per the lease agreement, we will proceed with addressing the repair in the most reasonable manner.
In the event that we can not reach you in an emergency situation, we will use our best discretion to resolve the problem and mitigate further damages. Seldom is there an emergency where we are not able to consult with a property owner prior to addressing the repair.
When do I receive payment?Owners are paid by the 12th of every month through a direct deposit system. A monthly statement will also be emailed to the property owner before the 12th of the month and this will provide insight on any income received and expenses incurred for the property.
What happens if the resident leaves before the end of the lease?The resident is responsible for the rent for the term of the lease. If residents leave before the termination date they will be charged for rent until the home is re-leased. We, on behalf of the owner, will do everything possible to release the home and minimize the tenant’s cost. The previous tenant is charged for advertising and the re-letting costs.
How is the owner protected if the resident damages the property?A refundable security deposit taken at move-in is usually sufficient to handle the minor damage caused by residents. Residents with excellent credit and references seldom cause significant damage. If the resident leaves the property owing money for rent and/or damages they will be billed. If they do not pay, all amounts may be sent to collections.