FREQUENTLY ASKED QUESTIONS ABOUT PROPERTY MANAGEMENT
How do you determine the rent amount?
Current comparable rents in the neighborhood are the guideline for making that assessment. The right rent amount is a key for quick renting. A free property analysis is available upon appointment.
How long does it take to put a tenant in a house?
If priced appropriately and in move-in condition, it usually takes two to eight weeks.
How do you select a tenant?
The key to obtaining a good tenant is the selection process. Examining credit, employment, rental history and conducting an informal interview help provide a complete picture of the prospective tenant.
How do you advertise the property?
A wide variety of advertising media exposes your property to a larger pool of prospective tenants. The following are utilized:
First Multiple Listing Service
What happens when the rent is not received by the due date?
If rent is not received by the fourth, a Three-Day Notice to Pay or Vacate is mailed; typically this is sufficient.
What is the right legal process for evicting a tenant?
If the tenant does not respond to the Three-Day Notice, the following steps are taken:
A Dispossessory Warrant is filed.
A Sheriff’s notice is posted on the door.
Written response is required of the tenant in seven days.
Court date set.
Court appearance and final decision.
How frequently does an eviction occur?
Rarely. Most of the time the process never reaches that point.
What are your fees?
Leasing: One month’s rent for a year’s lease.
Management: 8% of the monthly rent (a minimum of $80, regardless of rent amount).
Renewal: 50% of the first month’s rent of the renewal term.