- How do you find a tenant for my home?
Upon listing the property, our managers work with you on implementing our marketing plan. We will then advertise on our Website, GAMLS, our Agent Community sites and over 100 internet sites. Our marketing tools are included in our Leasing fees.
- How do I prepare my home for market?
Our property manager will go to the home to do a walk-thru inspection. To get it “rent ready”, we will make recommendations to you to make your home as attractive as possible. We then ask that the tenants return it to us in the same clean condition.
- How long will it take to find a tenant?
Finding a tenant has many components which include condition, pricing, location, inventory currently on the market, and the time of year. We will always recommend a 30day rental price as a vacancy is a loss of money to the owner.
- Will you explain the screening process of tenant applicants?
We do comprehensive screening of all tenants. We review credit, criminal, sex offender activities, if any, rental and employment history, identity verification, debt ratios and any other areas we feel are pertinent to the applicant. Most of these are automated, but if necessary, we do manual checks.
- Do I hold the security deposit and how much is it?
We do require a security deposit that is generally the equivalent of one month’s rent. It may be more due to extenuating circumstances. We hold the security deposit in our bank until the end of the lease. If you are allowing your tenant to have a pet, we require a minimum $250 non-refundable pet fee.
- How are your management fees paid?
Our leasing fee is normally one month’s rent, which is paid from the tenant’s first rental payment. Our management fee begins on the date the tenant’s move in and again every month going forward. If a tenant signs their lease on a day other than the first of the month, we still require a full month’s rent and a deposit equal to the rent to be paid. The tenants next month’s rent that is due will be prorated based on the days that they lived in the unit during their first month of tenancy. For example, if a tenant moves in on September 15th and their rent is $1000 they will pay $1000 for the first month rent and $1000 for their security deposit at lease signing. When rent is due on October 1st they will pay a prorated amount for the 16 days that they lived in the unit in September. You can expect your first owner draw to be lower than normal.
- What day of the month does the owner receive the proceeds?
Rent is due by the 5th and our bank requires 5 business days before owner draws; so we pay our owners in the afternoon of that fifth business day. Holidays and weekends cause the date to vary monthly. Payments can be directly deposited into your bank account. You will receive a statement from us each month.
- How are the utilities transferred to the tenant?
Tenants have 3 business days after signing their lease to transfer utilities into their name. If they fail to do so, we may charge them a fee and the owner may have them shut off. After the tenant has had them switched, you should receive your final bills from the utility companies.
- Why must you keep a reserve fund on my home?
As part of the management agreement you sign with us, we require a repair fund contribution for your property in the amount of $300 for repairs and emergencies. This is taken out of the second month’s rent. This allows us to make minor repairs quickly, which is critical to tenant retention. You will receive a copy of all bills and repairs completed. We use only licensed and insured vendors.