Rental Management Fees & Other Frequently Asked Questions From
Property Investors
Q. How Much Are Rental
Management Fees?
Answer: Rental Management Fees are dependant upon the type
of property, location of the property and how many units or properties
you would like managed. A $150 start up fee is usually required
but is also dependant upon the property type. However, we do not
charge fees during vacancy – we get paid when the property is rented.
We do not mark up maintenance.
- Single Family Homes………………....8%-10%
- Multiple Homes Per Owner………...8%-9%
- Duplexes, Tri-plexes……………………7%-8%
- Up To 15 Units Per Property……….7%-8%
- More Than 16 Units Per Property…5%-6%
Please give us a call today for a quote.
Q. When Will I Get My Check And Cash Flow Statement?
Answer: Monthly. Rents are due on the 1st and late after the 5th. Mortgages are paid on the 1st and all other bills are paid as they come in. We begin Statement reconciliation on the 25th of the month with a goal of sending out reports and checks by the 28th of the month.
Q. How Do You Advertise Vacancies?
Answer: We manage many different types of properties. Each property has special advertising needs. Sources we utilize are our Listing Flyer - available 24/7 to prospective tenants, our Web Site, and Craig’s List.
For University Area properties, we start our marketing campaign in February and consist of the following:
- The Chico Housing Guide
- The Orion (CSU, Chico newspaper)
- The Wildcat (CSU, Chico sports paper)
- CSU, Chico Housing Fair
- Butte College Housing Fair
- Direct Mail Marketing
- Word of Mouth From Our Tenants
We typically recommend additional advertising in the Enterprise Record. This is the only advertising that is at the owners’ expense, and will be reflected at the end of the month statement.
Please be sure to call so we can discuss our marketing techniques for your type of property.
Q. Do You Carefully Screen Applicants?
Answer: Yes, Screening tenants is one of the most important parts of property management and is an area that we can provide great assistance. Our ability to attract and qualify large amounts of prospective tenants with our aggressive marketing gives us an ample selection of applicants to choose from. Additionally, we run extensive credit checks, rental references, and employment verification on every adult over 18 years.
Q. When Do I Find Out When My Property Becomes Vacant?
Answer: As soon as we receive a 30-Day Notice from the current tenant, or when we receive notice the current tenant is not renewing their lease we contact the property owner.
Q. Who Pays For Repairs To Vacancies?
Answer: We will determine tenant costs and owner costs after we compare our detailed move-in inspection with our detailed move-out inspection. We give our tenants specific guidelines to leave their property as squeaky clean as when they moved in. Professional carpet cleaning is written in the tenant’s rental agreement so it is mandatory they pay those charges. We will notify you if there are recommended owner charges with an estimate of those charges.
Q. Can I Do My Own Maintenance?
Answer: Absolutely. Many owners wish to keep costs down and do the maintenance themselves. All we ask is that the work is done timely as we have built in deadlines to meet and we are kept informed as the work progresses.
Q. How Do You Handle “After Hours” Maintenance Problems?
Answer: We have an emergency pager. The number is provided to all tenants and it is listed on our answering machine. To keep costs down, a technician will discuss the “emergency” with the person calling to determine whether or not the problem can wait until regular business hours. Most of the time it can, therefore, saving overtime costs to our investors. Obviously, if it is a true emergency and the tenant and/or property must be protected, someone will be dispatched to take care of the matter.
Please
Contact Us for more information about our
Professional Property Management Services
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