Owner FAQ

Answers To Your Frequently Asked Questions

We provide full background checks (including criminal, credit and civil) on all prospective tenants. We also verify income and rental history (see included
rental criteria).

We have a corporate account with ShowMojo, which syndicates our ads to more than 30 various rental sites. We also utilize our website to advertise all of our open listings with direct links for prospects to schedule a showing online at their own convenience. Physically, we use banners if needed and have signs at each of our properties.

* We do not advertise on Craigslist

We look at other similar units/areas and conduct ongoing market studies to determine rental rates. Often rates are determined through the amount of showings and the rates of our own similar properties in the same areas. Availability, condition, amenities and timing are all factors we consider. We work with ownership to determine what goals they would like to achieve and then set an actionable plan in place to achieve them.

We take several factors into consideration when recommending renewal rates: market projections, current residents variance to market rents, turn costs, individual tenants history, floorplan demand, lease expiration spread etc. In short we make well thought out recommendations on an individual property basis rather than just sweeping flat rate percentages across the portfolio. We send renewal offers to residents 60-120 days in advance of their lease expiration date. More importantly we try to stay in regular communication with residents to establish a relationship.

We always recommend our clients have enough funds on hand for one month of payments. However, we do work to get your distributions to you as quickly as possible. Your first EFT typically take 5-7 days to clear the banks. After that, they usually clear within one business day (depending on your bank). In our PMA we list that owner distributions and packets will be delivered by the 15th of each month but typically we get your distribution to you by the 9th and owner packets by the 10th.

We set a number based on conversations with each owner. We find that $500 is a reasonable amount that allows us to do our job without troubling you for every work order. In the event of an emergency, we do move forward with repairs to prevent additional damage but we notify owners as soon as it’s reasonable or within 24 hours at the latest.

We cap our property manager portfolios at 250 apartments so that they can give your property the direct attention it needs to effectively manage it. We also work to cluster properties to promote regular drive-bys and spot checks.

All of our property managers are licensed brokers. In addition to staying up to date with their continual education, they attend regular webinars held by our attorneys that cover any new laws and bills being reviewed. Additionally , we use NAA leases that are updated automatically as laws change.