Frequently Asked Questions

1. Am I locked into a 1-year Management Agreement?

No, all of our Management Agreements are month-to-month.

2. When do your services begin?

As soon as you complete the Onboarding Worksheet including the client to-do list, which we will provide for you. For vacant units our services begin once the unit is rent-ready and the Onboarding Worksheet is complete, including the client to-do list.

3. Is there a pre-approved expenditure threshold?

For our a la carte lease-only service – no.

For ongoing management services – yes: 

We require our clients to pre-approve us to go ahead and make any necessary expenditures up to $600 or $200 per unit per property, whichever is greater. This is our pre-approved limit for any one item. 

For expenditures over the pre-approved threshold, we will first get approval from you before spending the money. The only exception to this is in the rare instance where there is an emergency that requires us to act immediately.

4. How much of my funds do you hold in reserves?

For our a la carte lease-only service – none.

For ongoing management services:

We hold on to the greater of $1500 or $300 per unit per property. We use these funds to pay for expenses and then replenish the reserves after the tenants pay rent. 

5. How do tenants pay their rent?

Most tenants pay rent directly from their Tenant Portal. They can pay using their bank account or a credit card. They can also set up automatic recurring payments. Additionally, we have a cash payment option.

6. When will I get paid each month?

We will deposit your monthly owner distribution directly in your bank account around the 10th of each month. 

7. Do you pay my bills for me or do I continue to pay my bills?

Unless you prefer otherwise, we will take over paying bills for all services that we need to oversee. For example, we will pay the landscaper, pest control, pool person, etc. You continue paying your mortgage, insurance, HOA, etc. 

8. Is leasing included in the monthly management fee?

For the Freedom Package, yes! Our Leasing Fee is half a month’s rent and it gets credited toward monthly management fees for the Freedom Package. For example, for a single unit property, after we get the unit leased we will collect half a month’s rent and you will not pay any management fees for approximately seven months.

For all other packages, Leasing is an a la carte service and our Leasing Fee is half a month’s rent.

9. When you lease a unit for me, do I choose the rent amount or do you choose the rent amount?

We will recommend a pricing strategy to you that we believe will get the unit leased within 30 days. You can go with our pricing strategy or your own. 

10. When you lease a unit for me, do I choose the tenant or do you choose the tenant?

You decide who you want to choose the tenant. We always recommend to our clients to allow us to be the decision-maker, to adhere to all Fair Housing Laws. If you decide to choose the tenant yourself, our job will strictly be to market the unit, show the unit to prospective tenants, accept applications, and sign the lease on your behalf once you approve an applicant. You will be responsible for reviewing all application documents, checking references, and communicating with applicants. 

11. Is there anything else I should know about your leasing process?

Yes, if you decide to go with our pricing strategy and decide for us to choose the tenant, then we will conduct as many showings as necessary to get your unit leased. 

If you decide to go with your own pricing strategy or decide to choose the tenant yourself, then a maximum of eight grouped showings is included in the Leasing Fee, and the Leasing Fee will be due even if your unit does not get rented. After the eight grouped showings, each additional showing is $95.00.

We typically schedule two grouped showings per week, one mid-week and one on the weekend.

12. How can I be sure you will choose a good tenant?

We treat all properties like they were our own, and we would not approve any tenant for your property that we would not approve for our own. Aside from the obvious requirement that a tenant can pay rent, the two most important qualities of a good tenant are having integrity and being a reasonable person. Although we do not have a crystal ball, we have an excellent track record. No tenant we have placed has ever defaulted on rent or turned out to be a “nightmare tenant.”

13. Can you give me more information on Section 8 rules?

Yes, see HERE. 

14. Aside from the monthly management fee, are there any additional fees?

No, there are no hidden fees and we do not upcharge on repairs.

15. Who keeps late fees?

Because of the additional time required to chase down tenants who do not pay on time, we keep late fees.

16. How will I know if you spent any of my money?

Paid expenses are shown in real time on your Owner Portal. Additionally, on the 1st of each month you will receive a Monthly Owner Statement that details all income and expenses for the previous month.

17. Can I see vendor invoices?

Yes! Vendor invoices will be available on your Owner Portal.

18. Is there anything else I should know?

Clients who enjoy the benefits of our services are the type of landlords looking to relinquish control of the day-to-day operations of their rental properties. They trust us to make important decisions on their behalf. We take this responsibility seriously and treat all our managed properties as if they were our own. We are a best fit with these types of clients.