Answers to your common questions
Am I required to make my property available to Section 8?
No. This is absolutely up to you. Some of my owners currently take section8 and others don’t.
Are you licensed?
Yes. Real Estate Broker’s License #01359822 (Bureau of Real Estate)
Can I reach you after hours?
You can call me at anytime. If I don’t answer, I am not available, but will get back to you as soon as practical. You can also email me for property purchase or sales at firstname.lastname@example.org
Can you put the money directly into my account?
Yes. We offer direct deposit as an option for funds to be deposited directly into your account.
Do I get to see the lease or sign it?
You can see the lease if you prefer. You give us the right to act as the landlord by signing a PM Agreement and we act as the landlord and sign it for you.
Do you sell real estate too?
Yes. I sell both Residential and Commercial Real Estate.
How and when do I get my checks?
You can get your checks by direct deposit or mail. We reconcile our broker’s trust account on the 2nd of each month and process payments 24-48 hours after that. For late rent checks, we process again 24-48 hours after we receive them.
How is rent collection handled?
We received rents in different ways. Rent is due on the first and a grace period is given until the 5th. Once we receive the rent, it gets deposited into our Broker’s Trust account and once it is cleared (usually the next day) we process and send out payment. To streamline, we may also process checks that come in on time, on the 2nd of the month or the next business day. For checks that come in by the 5th, we process on the 7th or next business day of the month. For late checks, we process the next business day after check clears.
How long of a lease do you sign?
This is up to you, but we advise signing a 1 year lease agreement and renew if desired.
How much security deposit do you charge the tenant?
Usually, equivalent to 1-month’s rent. Sometimes more depending on tenant qualifications. First month’s rent is also collected up front.
How soon can you start managing my property?
Today, as long as you do not have another contract with another Broker. If you do and depending on your contract, we can discuss what is ethical and fair to start working together.
What type of properties do you manage?
Residential, Commercial, Multi-Unit Family, Multi-Unit Mixed Use buildings, Industrial Properties, Single Family Residences, Townhomes and Condos.
What type of reports do I get and how often?
Owner gets monthly or quarterly statements showing a ledger of income and expenses.
Who holds the tenant security deposit?
We prefer to do so for easy return purposes, but can discuss the other option. It is essential we return the tenants deposit within the legal allotted time and therefore like to have control over this. If the owner holds the deposit, we need it paid back to us when tenant moves out so we can apply and pay it out as needed. Whoever holds the deposit is responsible for returning it on time.