- Accounting - What is your fee structure? Management Fee – 8% of Gross Monthly Rent (minimum $80), Admin Setup Fee – One time fee of $299, Tenant Placement Fee – $200, Referral Fee – $250 paid to referring agent, Reserve Fund (used for repairs) - $250
- Accounting - How are Landlords paid? - Your rental income will be deposited into your bank account on or before the 10th of every month, unless the tenant pays late. Your accounting statement will be ready by the 15th of every month by email.
- Contact Methods - Office, Email, Phone, Cell Phones and Contact forms from our web sites.
- Fees - Do you charge for monitoring and maintaining vacant property? NO
- Fees - Do you recommend a home warranty? Yes, I carry home warranties on my properties. Cost for warranties vary by companies.
- Tenant Screening - What factors would cause you to reject an applicant? Evictions, Poor referral from previous landlord or rental company, pattern of derogatory credit payment history, Low debt-to-income / rent ratio, Low or no bank reserves.
- Tenant Screening - What happens if an applicant has a recent foreclosure? It will reflect in their credit score and we may inquire about the circumstances surrounding their foreclosure to determine whether or not there is a possibility for the tenant to break a lease in the future due to an inability to meet the monthly rental payment requirements.
- Marketing - Right now on average, our single family homes are being rented in less than 30 days and condos less than 45 days. Depending on location, the average days on market could increase or decrease.
- Marketing - Because there are so many people in the market for rental homes, we are seeing the average time getting shorter.
- Management - Rent is due on the 1st of every month and late after the 5th. Late fees will begin to accrue on the 6th of the month.
- Management - If we decide to terminate a property management agreement with a landlord, we will give them 30 days notice.
- Maintenance - None. All repair work is handled by experienced vendors. NO OVERRIDE is charged on repairs to you property.
- Maintenance - How expensive does a repair need to be before you contact the Owner? Our contract states that we will get authorization for any and all jobs over $100. But don’t be surprised if we call you about a repair that is less than $100 requesting approval.
- YES - I invest in real estate locally.
