Residential Landlord FAQ
How it works
When a new client calls us they often start with "can you tell me how it works?"
Sometimes they are new to becoming a landlord and some are really asking "how do you do business?"
Either way the answer is the same.
Most property managers do the same thing. We have different strengths and different people in our staff with their own skills and levels of performance but the tasks are essentially the same. We differ a little in how we achieve them and we differ in our prices but after that almost all residential rental managers do this:
1) Assess the property and discuss the value with the owner.
note: this is how we choose a price
2)Take photos
-hopefully good ones
3)Post advertisements
note: we pre-screen applicants
4) Show the property to potential tenants
5) Process applications, background checks, etc.
6) Negotiate a lease.
7) Collect the Security Deposit and put it in a Trust account
8) Collect the rent and deliver it to the owner less fees and/or costs.
9) Do the move-in inspection.
10) Collect rent monthly and deliver the balance to the owner,
11) Ongoing tasks
If the tenant has any issues they contact us for help.
if the owner has any issues they contact us for help.
If the tenant gives notice to move-out we begin advertising again.
If the tenant is failing to pay rent or other issues we handle the eviction and if necessary court proceedings.
12) After move-out we do a move-out inspection.
13) Clear and repair the property within the limits of the tenancy act.
14) Refund the balance of the Security Deposit to the tenant.
And start the process all over again.
Sometimes they are new to becoming a landlord and some are really asking "how do you do business?"
Either way the answer is the same.
Most property managers do the same thing. We have different strengths and different people in our staff with their own skills and levels of performance but the tasks are essentially the same. We differ a little in how we achieve them and we differ in our prices but after that almost all residential rental managers do this:
1) Assess the property and discuss the value with the owner.
note: this is how we choose a price
2)Take photos
-hopefully good ones
3)Post advertisements
note: we pre-screen applicants
4) Show the property to potential tenants
5) Process applications, background checks, etc.
6) Negotiate a lease.
7) Collect the Security Deposit and put it in a Trust account
8) Collect the rent and deliver it to the owner less fees and/or costs.
9) Do the move-in inspection.
10) Collect rent monthly and deliver the balance to the owner,
11) Ongoing tasks
If the tenant has any issues they contact us for help.
if the owner has any issues they contact us for help.
If the tenant gives notice to move-out we begin advertising again.
If the tenant is failing to pay rent or other issues we handle the eviction and if necessary court proceedings.
12) After move-out we do a move-out inspection.
13) Clear and repair the property within the limits of the tenancy act.
14) Refund the balance of the Security Deposit to the tenant.
And start the process all over again.
How we are different
How we are different.
We price our service to match and motive our performance.
Since we do not charge anything up front we don't get paid until you get paid.
If we have an existing tenant but they haven't paid rent yet then we don't paid until rent is collected.
We don't get paid extra to deal with tenant caused issues.
And we are on a percentage commission.
Thus we have to balance these three things.
-How soon (to get paid).
-How much (how much we get paid).
-Fewest problems (because we get paid the same amount regardless of the issues).
So - we have every incentive to rent out your home as soon as possible, for as much as possible, to the best available applicant.
As such we take professional pictures (not cell phone pictures).
We advertise each property individually.
And we pre-screen applicants, then do a background check to avoid poor tenants.
We price our service to match and motive our performance.
Since we do not charge anything up front we don't get paid until you get paid.
If we have an existing tenant but they haven't paid rent yet then we don't paid until rent is collected.
We don't get paid extra to deal with tenant caused issues.
And we are on a percentage commission.
Thus we have to balance these three things.
-How soon (to get paid).
-How much (how much we get paid).
-Fewest problems (because we get paid the same amount regardless of the issues).
So - we have every incentive to rent out your home as soon as possible, for as much as possible, to the best available applicant.
As such we take professional pictures (not cell phone pictures).
We advertise each property individually.
And we pre-screen applicants, then do a background check to avoid poor tenants.
our pricing
We offer a few different packages
Our pricing is very simple.
The greater of $150 or 10% a month. Plus $585 one-time new tenant fee
But only when rent is received.
No Rent = No Fee.
ZERO up front fees.
One-time new-tenant fee NOT DUE until we actually get it rented.
This is one time and if the tenant stays is never charged again.
If the unit is vacant there is no fee.
If the tenant does not pay there is no fee until we collect it.
ZERO Surprise Fees
ZERO Startup or Setup Fee
ZERO Advertising Fee
ZERO Inspection Fees
(max one per 4 months [free 3 per year outside of the move-in/out. Issue related inspections are also free)
Discounts Available for 3 or more properties or single dwellings that rent for more than $2500/month.
You would NOT be charged these without first a discussion and permission, and they are not mandatory: Non-core service fees range from $75/task to $140/hr depending on the task. Examples of this would be forwarding the owners mail, picking up and delivering a new countertop microwave, letting a bank adjuster into the property, or completing major non-emergency maintenance such wiring in a new smoke detector.
Our pricing is very simple.
The greater of $150 or 10% a month. Plus $585 one-time new tenant fee
But only when rent is received.
No Rent = No Fee.
ZERO up front fees.
One-time new-tenant fee NOT DUE until we actually get it rented.
This is one time and if the tenant stays is never charged again.
If the unit is vacant there is no fee.
If the tenant does not pay there is no fee until we collect it.
ZERO Surprise Fees
ZERO Startup or Setup Fee
ZERO Advertising Fee
ZERO Inspection Fees
(max one per 4 months [free 3 per year outside of the move-in/out. Issue related inspections are also free)
Discounts Available for 3 or more properties or single dwellings that rent for more than $2500/month.
You would NOT be charged these without first a discussion and permission, and they are not mandatory: Non-core service fees range from $75/task to $140/hr depending on the task. Examples of this would be forwarding the owners mail, picking up and delivering a new countertop microwave, letting a bank adjuster into the property, or completing major non-emergency maintenance such wiring in a new smoke detector.