We looked over the list of fees on the website. If the property is vacant, do you still collect a management fee?
We do not collect management fees on vacant homes unless you asked us to list your home too high and we update you weekly that there is no activity and you refuse to lower the price, we will start to charge management fees 1 month later. The reason we would charge is because we would have to start checking on the home since no one is viewing it. Most of our homes get an approved applicant within a week or 2.
If you cancel the agreement with us within 1 year we charge $550 to cancel because we gave you a discounted rate to lease your home (we charge $1200 just to find a tenant and move them in) After the first year, you can cancel anytime with no cancellation fee.
We have a month to month management agreement. All our owners are with us at their free will. We are all about good energy and only want to work with people who we work well with, we assume the owners want the same thing and that is why we will never force an owner to stay with us if they do not want to.
An example of an extraordinary service would be if you asked us to pick up a package for you that got mailed to your rental home and then need us to mail it to you. I will always let you know upfront if you are asking us to do something that will have an extraordinary service fee.
All our leases the first year are 1-year leases, after the first year we usually do another year, but at that time if you and the tenant want a longer lease, we are ok with that. We are not ok with a longer lease the first year in case the tenant looks good on paper but is crazy and does not cooperate with vendors, etc.
When we get a service request it is through email. We send you the email, so you are aware that there is a current maintenance request. We will let you know who we are sending and when they are going to your rental property. If you have a suggestion you can jump in anytime, but in the meantime, we will be immediately starting the process to get the repair fixed. Once we have an estimate we will reach out to you again to get your approval, if we do not hear from you we will either wait to hear from you or get it approved if we are confident it is the best price and speediness for you and your tenant. We have been doing this for 19 years and we personally own rental homes so we know what prices should be for most repairs, and if we don’t know, we google it or get a second opinion. We get very upset if a vendor tries to overcharge us.
We currently do not like working with home warranties, we used to like them, but we have had too many bad experiences over the past few years with them sending 1 star vendors to homes, and taking way to long for repairs that can be done much faster. Some owners do have Home Warranties and feel better having them in case there is a water heater repair or HVAC repair, so we understand some people are adamant about having one. We will work with your home warranty, but we charge $75/hour to work with them when they take more than a day to fix an essential need for tenancy (HVAC, water heaters, and leaks.) When we call a home warranty, we usually spend hours on the phone following up with them. We also need to figure out rent credits or hotel credits when a home warranty repair cannot be made within 24 hours. Most our vendors can repair an HVAC or Water Heater within a day when we call them directly. We have a home warranty on our personal property but not on any of our rental properties. Tenants get very upset when they must wait longer than normal for an essential repair.
Are there scheduled inspections to make sure everything is working properly and in good condition? (For example, sometimes renters may forget to change the filter for the HVAC)
We do an inspection around the 9th or 10th month of the tenant’s lease, right before we are deciding to renew them or not. Some owners want more visits and that is $75/visit. When we go, we take pictures and check the air filters as well. Currently during COVID we are not doing inspections.
Our Move in and move out process includes hundreds of pictures of the home inside and out, every cabinet, drawer, wall, ceiling, door, floor, everything and that is taken the day they move in and within 24 hours of their move out. When they move in they are given a property condition report they can send to us within 10 days.
Who handles the utilities? I am assuming electricity and gas will be the renter's responsibility. How about water, sewer, and garbage?
When a home is vacant, we need you to put on the water and power for vendors and showings. If you do not want to or cannot turn on utilities, we can do that for you for $100/utility and with a $500 reserve to pay the bills.
When a tenant moves in, they will put gas, power, and water in their name. We have owners keep the trash and sewer in their name and send us the bill to get you reimbursed by the tenant. If those bills are not paid by the tenant, we will not know until there is a lien on the property.
This is a tenant responsibility, if an AC repair comes in the vendor always looks at the filters first, if they tell us they are dirty and that caused the issue, we will charge the tenant for the repair. Some owners leave filters there for the tenant to use.