Affordable Rental Property Management Frequently Asked Questions
Affordable Rental Property Management
Frequently Asked Questions
1. How will it help me to have you manage my property?
Answer: Your time is valuable. In most cases we are able to obtain the highest market rent for your property. We deal with late pays immediately and aim for a fast turn around of vacant units. Our repair people offer us very competitive rates due to our continuing business with them.
2. Do I lose control of my property once you manage it?
Answer: No. We keep you advised of all developments and provide you with a monthly statement regarding the maintenance of the property. We will contact you to discuss major repairs and notify you if your tenant will be vacating.
3. If my property is vacant, do I still pay a management fee?
Answer: Absolutely not. If you are not making money, we are not making money. We strive for a quick turnaround which will benefit both of us.
4. Do you manage only residential property?
Answer: Residential property is our specialty but we also manage apartment buildings.
5. Do you charge the tenant a security deposit?
Answer: Yes. This deposit is kept in our escrow account until the tenant vacates the property. Within 30 days of vacating, it is either returned to them or forfeited to the owner.
6. What about a pet fee?
Answer: It is up to the owner whether pets will be allowed on the property. If your permission is given, we charge a $250.00 pet fee per animal.
7. Do you keep up with all of the changing rules and regulations regarding real estate?
Answer: Yes. We are members of the Board Of Realtors and the National Assoc. of Residential Property Managers.
8. Do you carry insurance on my property?
Answer: No. You maintain your own insurance coverage. However, we will gladly recommend insurance companies that you can contact to help you.
9. Do you qualify all tenants?
Answer: Yes. We run several checks on all applicants – credit, criminal, sex-offender and terrorist. We verify rental history and employment. All applications are processed in our office and in most cases can be completed in 24 hours or less.
10. How do you advertise vacancies?
Answer: We start with a yard sign. We also list the property on the MLS (which is visited by over 55,000 realtors) and on our web site. We advertise in the local newspapers and on-line rental sites. We receive referrals daily from current and former tenants, owners and other agents.
11. How do you handle problems after hours and on weekends?
Answer: Our phones are monitored 7 days a week and each tenant is provided with a phone number for emergencies after hours. Many times we can solve the problem over the phone.
12. When do I get my monthly statement?
Answer: Owner’s statements are mailed out between the 15th and 30th of the month. This gives us time to collect and deposit the rent check and pay all expenses.
13. Does your Management Agreement give you exclusive right to sell my property?
Answer: No. We will refer you to a Real Estate Company who we feel will represent you in the best way
14. Do you have a set fee to manage my property?
Answer: No. This depends on what you as the owner require from us. We have different plans to meet your specific needs.
15. Can you transfer the rent directly into my bank account?
Answer: Yes. We Direct Deposit the owners proceeds into their bank account