Owner Frequently Asked Questions
- Why should I use a professional to manage my home?
- Can I choose to disallow pets, smokers, large families, etc.?
- Do you provide me with a report of activity on my property?
- Can I get a home warranty?
- Can I sell my rental property with a tenant?
- Should I rent furnished or unfurnished?
While the reasons our clients choose professional management vary, here are key reasons many people elect professional management over self-management.
- Experienced landlords have discovered that the cost of our services can be cheaper than the cost of a bad tenant.
- The background checks that we provide are much more thorough than a landlord can get. We verify employment, contact previous landlords, check credit reports, check national and local criminal backgrounds, check for eviction histories, contact the FBI for terrorist, most wanted, sexual offenders, and make checks with the Office of Asset Control.
- We enforce collection of rents and serve the proper notices upon failure to pay.
- We understand and apply the correct federal, state, and local laws, keeping you and your investment out of trouble.
- We know the local market, have an extensive network of contacts, and have advertising resources available to us at discounted rates. This allows us to effectively marketyour vacant home to prospective residents to get it rented.
- Most landlords are out of state or country and cannot monitor the property on a regular basis.
- Experienced landlords want a professional company to handle the daily activities of managing their property, allowing them more time to concentrate on other things.
We comply fully with the Fair Housing Act. This means that you can not choose to disallow anyone that is a member of a protected class under the act. You can choose to disallow pets and not permit smoking in your home, but you cannot deny a service animal. If you have additional questions on the specifics of the Fair Housing Act, please see our fair housing page.
Yes, we will provide you a monthly report of rent and other income received, and maintenance, repairs, and other expenses incurred. This will be provided once per month unless there is no activity, such as a vacancy. At the end of the year, you will be sent a year end statement along with a 1099 form. If you have questions regarding your statement, please do not hesitate to contact us.
Yes. You can purchase a home warranty to help limit the cost of repairs. In order to get a warranty, it must be purchased within 30-days of signing a lease. You cannot get a warranty at any other time. You can print the warranty form the Owner Documents of this site. The warranty can be paid from the first months rent if you request it. If you pay for a warranty outside our office, you must notify the property management office immediately.
Yes. You can sell your investment property with a tenant residing in the property. There are several things that you should consider:
- Does your lease allow for you to terminate the tenancy early? If not, the property can be sold but the lease will remain in effect for the term of the lease.
- Relations with the tenant may become strained. No one likes to lease a property and discover after settling in that the owner is selling the property. The tenant now has to find another rental, move again, possibly pay extra deposits for utilities for the new home, and pay to move again. A disgruntled tenant can make it difficult to get showing appointments for the sale, leave a messy home so the property does not look its best, or even talk bad about the property while it is being viewed. Keeping the tenants informed of every step usually woks but is no guarantee of their cooperation.
- Tenants may want to move immediately.
Typically, you would not want to furnish a rental property. A three bedroom, two bath home will normally be rented by a family and they ususlly have their own furnishings. Normal wear and tear is expected and cannot be charges against the tenant. After some years, you will need to replace the furniture, adding to the cost of the rental property.
Some properties, however, are expected to be furnished. Condo's on the beach will rent much slower if they are not furnished. Washers and dryers in condo's are normally stackable and tenants will not want the extra expense of purchasing them.
It is best to have the property manager evaluate the property and make recommendations to you.