What is your fee for leasing a property?
We charge the equivalent of one month’s rent for our management clients for negotiating a lease of any length (e.g., 1-3 years).
Do you advertise, find new renters and run credit and background checks?
Yes, we do take care of everything you need to get it ready for market, including but not limited to managing repairs and turn over maintenance, advertising, showings, credit and background checks (paid by rental application fee), lease negotiations, exit walk-through for current tenants and entry walk-through for incoming tenants.
What is the average time to find a suitable tenant for my vacant property?
We usually find the tenant in less than 14 days. Most times they need to give a 30 day notice and sometimes they do not.
Do you have a standard lease?
We currently use the standard Greater Capital Area Association of Realtors lease, which is regularly updated to include legislative changes. We include a separate addenda tailored to our management requirements and any particular needs of the property or its owners.
Can we set the price that we want to charge for rent or do you go by the market value?
We enjoy providing owners with data to assist them with setting the price. A rental rate can be determined differently depending on the owner’s goals, the time of year, the price range, rental history, availability, demand, and the condition, particularity, and location of the property. We assist owners with understanding the price, whatever it is, and how the marketplace can react.
By what criteria is a tenant applicant determined to be acceptable? Is there a minimum credit score that they must have? Are there other discriminators that would eliminate applicants?
We utilize a third-party service to conduct a screening against our pre-established criteria that includes income assessment, credit evaluation, criminal and eviction screening and rental reference(s). If an applicant falls within a conditional range of our criteria, we may offer some additional requirements to the applicant, within the jurisdictional legal guidelines, that will be balancing factors to provide the owner with additional security, such as additional deposit or a guarantor.
Is the initial fee (first months rent) charged regardless if we need to find new renters or if we already have tenants?
There is not usually an initial fee for tenants already in place, except under certain circumstances. However, there is a pro-rated fee for assisting with tenant placement.