What needs to be done to prepare a property for rent?
How do I determine the rental amount?
How do you market the property?
Although we have a pipeline of referrals as the area’s preferred management team, we advertise extensively via the web, to include all homes listed in MLS, along with a family of top websites with dominant placement.
How long will it take to rent?
Vacancy periods are market driven. There is also some luck involved in the right person looking at the right time. On average in today’s market it takes between two to three weeks to rent a home. Homes rent more slowly between Thanksgiving and New Years. Location and price also affect vacancy.
What are the policies regarding pets?
Statistics indicate that 75% of renters own pets. Restricting pets reduces the number of available qualified residents. Pets should be screened and pet references checked out. In general, a well-behaved cat or dog causes less wear and tear on a home and yard than a young child.
What about smokers?
Is it possible to refuse to rent to families with children?
In federal, state, and local Fair Housing regulations children come under the protective class of “familial status.” It is unlawful to discriminate against children in any way.
Is first and last month’s rent as well as a security deposit collected up front?
What happens if the rent is late?
The rent is due on the first of each month. We begin collection proceedings after the 5th of the month. If the rent is not paid by the 10th we take the first step in the eviction process. In most cases we do not use an attorney for evictions; we represent you as your general agent in court in accordance with the leasing and management agreement. Our current eviction rate is less than 1% of properties under management.
When are monthly funds distributed?
Who handles emergencies?
What is the average length of tenancy?
How are repairs handled?
The home’s personal property management team is responsible for approving all maintenance requests. Residents are required to submit all repair requests in writing. It is our policy to notify owners of all maintenance requests with a cost in excess of $250. If funds are available the expense will be deducted on the next month’s accounting statement. If funds are not available the property manager will contact the owner for payment arrangements. Sometimes a request falls into the category of a maintenance emergency. Emergencies are scheduled immediately and the owner notified at the first possible opportunity. Some maintenance requests can result in a rent abatement if not handled timely. The owner is notified immediately when there is a rent abatable maintenance issue.