Owner Resources

Frequently Asked Questions

• Do you have electronic and automated systems set up (e.g. online portal)?

  Yes, not only do our owners each have access to an online portal, but our residents do as well. This makes things like document signing, fund transfers, maintenance requests, and owner statements much easier and more transparent for all parties.

• Who holds the security deposits?

  We hold all security deposits on behalf of the resident in a dedicated trust account, as required by law. At the time of move-out, we assess the home for any damages or cleaning fees and disburse any remaining funds back to the resident within the state-mandated timeframe.

• What is your philosophy on repairs and replacements? Do you prioritize the most cost-effective solution, or do you prefer investing in higher-quality options that will last longer?

  In our professional experience, mid-grade components consistently deliver the best value for repairs. Lower-cost parts often lead to more frequent failures, resulting in higher long-term costs. That said, we evaluate each situation individually to ensure every repair strikes the right balance between cost efficiency and protecting the asset.

• How effective were your rent collection efforts during the pandemic?

  While moratoriums have allowed some residents facing hardship to delay rent payments, we have stayed up to date with all government regulations and guidelines to remain as proactive and informative as possible for our clients and customers.

• When would you recommend scheduling an occupied property evaluation with your office?

  We recommend that an occupied property evaluation be conducted at least every six months to verify the condition of the property. This proactive approach helps identify potential issues early, before they develop into more costly repairs.

• Is the rental price determined solely by your office, or is it something we collaborate on together?

  We will provide a suggested rental price based on our professional knowledge of the area, combined with an analysis of current market rental rates. If you do not agree with the pricing, we will develop a marketing plan that may include evaluating and adjusting the rental amount as needed.

• If I purchase a property with an existing resident in place, how is the transfer of documents and funds typically handled?

  At closing, all deposits, prorated rents, and any other resident funds should be transferred to you. We will also need these funds, along with all relevant property materials (including lease agreements, ledgers, keys, remotes, and related items) delivered to our office. You may coordinate delivery, or we can arrange to retrieve everything on your behalf.

• How many evictions do you typically handle each month?

  Thanks to our thorough resident screening process, we maintain a below-average number of evictions each year. It is uncommon for us to handle an eviction on a monthly basis.

• What is the average length of time a resident remains in a property after your team places them?

  On average, our residents remain in a property for approximately 2 to 2.5 years. Factors such as the type of property, its location, and the quality of maintenance all play an important role in resident retention.

• How do you screen prospective residents?

  All occupants aged 21 and older are required to complete our online application. Applicants are evaluated using a fair and consistent scoring process in compliance with Fair Housing regulations.

  We conduct a comprehensive screening that includes a credit check to identify collections, bankruptcies, and overall creditworthiness. Employment and rental history are verified by contacting current employers and previous landlords. In addition, we perform criminal background checks on all prospective residents.

• How do you handle maintenance requests from residents?

  Residents can conveniently submit work orders through their online portal. Once received, our maintenance coordinator reviews each request, troubleshoots the issue with the resident when possible, and determines whether a repair is necessary.

  If a technician is required, we coordinate with the appropriate vendor to complete the work. For any repairs that exceed the reserve amount outlined in your management agreement, we will notify you for approval before proceeding. If additional funds are needed, we will request them in advance to ensure timely completion of the repair.

• Do the damage costs charged to the resident at move-out include all repairs, damage fees, and maintenance for which the resident is responsible?

  Yes, when we perform the move-out inspection, we compare it to the move-in inspection and charge the resident for any damage beyond normal wear and tear. These charges are deducted from the resident’s security deposit. If the damages exceed the deposit amount, we will attempt to collect the remaining balance. If the tenant does not pay the excess, we will pursue the balance through collections.

• Do you charge any resident fees during occupancy? If so, are they shared with the owner?

  Yes, we charge resident fees directly to residents for services and programs they obtain through our office. These fees are retained to help offset the cost of managing the property and supporting auxiliary programs, allowing us to keep more of your funds in your pocket.

• The current resident is on a month-to-month lease. Would you recommend negotiating a new lease with the tenant?

  Yes, we have found that it is best practice to have residents under a formal agreement with a set lease term. We make our recommendations based on the resident’s history and current market conditions. However, we evaluate each situation individually to ensure our approach aligns with your goals for the property.

• Do you assist with setting up utilities for my property? If so, are there any costs associated with this service?

  Yes, we can assist with setting up utilities for your property. There is a utility setup fee for this service, and we require additional funds in your reserve account to cover any deposits or fees required by the utility providers.