OWNER’S COMMONLY ASKED QUESTIONS

Do I have to make changes to my house?

The property should be in the best possible condition to attract a quality tenant. Paint should be in good condition with marred or dirty areas touched up. Neutral colors for walls and floors are best. Blinds or shades are ideal window treatments. The home should be “detailed” clean and the yard in excellent shape. The better the condition of your property when initially leased, the more likely it is that the tenant will leave your property in good condition at lease end.

How much can I charge for rent?

The competition determines the rental amount. Our expertise in the property management field means we know the market and the competitive rental rates for your home’s square footage. If the home is marketed too high, the home will be vacant much longer. If it is marketed too low, it may be one or two years before the price becomes competitive again.

Do I have to pay to advertise my house for rent?

Your property is immediately added to our rental availability list, web sites, Multiple Listing Service and other resources. Our firm’s president also owns an area newspaper that connects directly with the local school system. A sign is placed in the yard and photos of both the interior and exterior are taken immediately. Properties are also assigned to a property manager to track the marketing effectiveness for the individual property. When placed with the Multiple Listing Service, this opens up the marketing to all area realtors for assistance with placing a tenant.

How long will it take to rent my home?

Vacancy periods are market driven. There is also some luck involved in the right person looking at the right time. On average in our market, it takes between two to four weeks to rent a home. Homes rent more slowly between Thanksgiving and New Year’s. Location and price affect vacancy.

What are the policies regarding pets?

Statistics indicate that 75% of renters own pets. Restricting pets reduces the number of available qualified renters. Pets should be screened and pet references checked. In general, a well-behaved cat or dog causes less wear and tear on a home than a young child.

Is it possible to refuse to rent to families with children?

In federal, state and local Fair Housing regulations, children come under the protected 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?

In general, if a rental applicant has good credit, it is common practice to collect one month’s rent and a security deposit up front.

What happens if the rent is late?

Rents are due on or before the first of each month. The rent is considered late on the second day of the month. On the third day of the month, a Three-Day Notice to pay or vacate the property is issued. After issuance of the Three-Day Notice, if the rent is not paid, the owner is notified and eviction proceedings are filed at the local courthouse as soon as practically possible. Quality background screening keeps evictions to a minimum.

When are monthly funds distributed?

Prior to disbursing funds to the owner, we require that all rental checks must have cleared the bank. Payment disbursements are made by check and mailed to the owner on or about the 15 ^th of the month. Statements will be processed around the 10 ^th of the following month as soon as bank statements are available.

Who handles emergencies?

A property manager is always on call for emergencies. We have a network of maintenance personnel and service providers to handle any emergency on your property, day or night. We are on call 24/7/365.

What is the average length of tenancy?

Over 50% of rental agreements are for one year. Other agreements range from seven to eighteen months. At the end of the lease term, the owner can decide to renew the tenant (if the tenant wishes to remain in the property), vacate the tenant, or allow the tenant to continue residency on a month-to-month basis. If the market has changed, the owner can raise the rent at the end of the lease term.

How are repairs handled?

The property manager is responsible for approving all maintenance requests. Residents are encouraged to submit all repair requests in writing. If funds are available, the expenses 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 for repair 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.