Owner FAQs
1. What makes your management services different from other property management companies?
2. How do you determine if a property is a good investment?
3. How do you handle tenant screening and placement?
4. What steps do you take to ensure rent is collected on time?
5. Can you handle major repairs and renovations?
6. How do you handle emergency maintenance issues?
7. What are your fees, and how are they structured?
Answer: Our fees are transparent and aligned with the services we provide. We offer three different pricing tiers, all based on a percentage of the rent that we collect for you.. For larger projects, such as renovations, there may be additional fees, but these are always discussed and approved before work begins. For more information, visit our pricing page here.
8. Will I have control over what happens with my property?
Answer: To an extent, yes. We will never take on costly projects or capital improvements without first consulting with you. And we will work together to establish a working budget to ensure we are working in line with your financial needs. With that said, our relationship is such that most of the day-to-day decisions are at our team’s discretion and what we feel is in the best interest of the investment (which includes the tenants and you, as Owner). This ensures that we are responding quickly and efficiently without the need for owner communication on every single detail, allowing for a better resident experience and better property performance overall.
9. How often will I receive updates about my property?
Answer: We provide monthly financial reports that cover rental income, expenses, and any other relevant updates on property performance. If there are significant issues or decisions needed, we’ll contact you immediately. You can also log into our owner portal at any time to view real-time information on your property.
10. What happens if a tenant stops paying rent?
Answer: If a tenant fails to pay, we follow a strict collections process that includes automated reminders and applying any late fees. If the rent remains unpaid, we initiate an eviction process in compliance with local laws to protect your income. We work to minimize vacancy by quickly re-listing and securing a new tenant if eviction becomes necessary.
11. Do you help with tax reporting for my property?
Answer: Yes, we provide detailed financial reports for your property throughout the year. At year-end, we compile comprehensive statements that include all income and expenses, helping you or your accountant prepare your taxes accurately and efficiently. This saves you time and ensures all relevant property data is documented.
12. How long does it take to find a tenant once a property is listed?
Answer: While timing varies depending on market conditions, we aim to place tenants as quickly as possible. On average, properties we manage have a vacancy period of 30 days, as we leverage online advertising, our established tenant network, and local listings to maximize exposure. Additionally, our screening process is efficient, helping reduce the downtime between tenants.
13. How do you ensure my property stays in good condition?
Answer: We conduct regular property inspections to address maintenance proactively and prevent small issues from turning into costly repairs. Additionally, tenants agree to periodic check-ins as part of their lease. Our maintenance team also handles routine tasks and oversees vendor work, ensuring the property remains in optimal condition to retain its value and attract quality tenants.
14. How can I be sure my investment is growing with your management?
Answer: Through strategic rent increases aligned with market trends, tenant retention initiatives, and routine property improvements, we aim to grow your property’s value and profitability. Our detailed monthly reports give you a clear view of performance metrics, and we are always available to discuss adjustments that align with your investment goals.
15. What types of properties do you manage, and do you specialize in any particular property type?
Answer: We specialize in managing investment properties such as single-family homes (including condominium units being rented out), multi-family units, and small apartment buildings. We do not manage HOAs, VRBOs, or Airbnb properties.
16. Can I continue in a “co-management” position, helping with certain aspects of the property management and tenant placement?
Answer: To ensure we are in full control of all communication and decisions between tenants and owners, we do not allow co-management arrangements. All communication between tenants and owners go through our office, and owners are not allowed to communicate with tenants directly. To ensure we are protecting you (and ourselves) from potential fair-housing discrimination claims, we also reserve full discretion when it comes to tenant placement, after they have cleared all of our qualification criteria and background checks.
17. Do you offer any kind of guarantees to ensure cash flow or protect against loss?
Answer: Yes! Our “Premium” management package comes with great safety nets and guarantees that offer you peace of mind and predictability. This includes things like loss of rent protection (up to 2 months), eviction protection (up to $1,000), no-fee tenant placement on early move-outs, and full-year cash lease advancements. For more information, visit our pricing page here.