How do I sign up?
How long have you been in the rental business?
We have been buying, selling, and renting homes for the last 8 years
Do you manage, buy, and sell your own properties?
We do, on a daily basis, we are vested in many areas of Florida.
What are your Accounting/Tax Procedures?
All accounting is performed in our master system which allows for you to see all transactions that are assigned to your investment. Examples of these are rent collected, owner distributions, work order costs, management fees, etc. All items that require a receipt are attached to the accounting line item.
Do tenants have access to me?
No, there is no contact information in the leases to indicate that you own the property. Can the tenant determine your contact information on their own accord, possibly, but if that were to occur we would request that you let us know.
Contact Response Time SLAs?
Our SLAs for contact response time varies dependant on the issue or topic and the route that was taken to contact us.
Are you licensed?
We are licensed as both a Real Estate Broker and a Real Estate Company.
Are you insured?
We are fully insured with a General Liability policy.
How much detail can I find in your owner portal?
As much or as little as you would like. There are several reports that can be run that will show income, expenses, work orders, etc. You can see it at the lowest level of detail or rolled up into a summary.
How do I contact you?
This will be discussed in detail after the sign up process. We are a very efficient organization and thus have several individuals available to answer quick questions on the phone, through email, and work orders through the web portal, but require schedule phone calls for certain office staff.
How often can I get updates?
You are able to get updates on your property whenever you would like through the owner portal.
What are your rates, really?
Our rates are really only a flat fee of $99 a month before discounts. Our leasing fees are one months rent and when we renew with a tenant it is only $199 and includes the annual inspection report.
What additional costs are there?
The costs outlined above are the only costs for the management of your property. There are of course additional costs if repairs need to occur such as to replace a water heater, AC repair, plumbing issues, etc.
How do I cancel?
Our terms of service are on a monthly basis and can be cancelled at any time with a 60 day notice to ensure a proper transition. Once signed up you will receive contact information that will enable this.
Are there fees when my property is not rented?
The monthly fee is not charged when your property is not rented
Are there costs to make my rental rent ready?
It is possible that there may be costs associated to making your rental rent ready with us, particularly if it is vacant and a tenant recently moved out. Once the process begins all damages and repairs required at a time of tenant move out will be taken from their security deposit, assuming all needed documentation can be supplied by you... lease, deposit receipt, pictures prior to move in.
What happens if there is an emergency at the house?
We have vendors on call to handle emergency situations. However, all tenants are provided instructions for emergencies in the Tenant Handbook and which agencies to call first.
What is your work order process for Tenants?
All tenants are provided a username and login to the Tenant Portal, in that portal they are allowed to input work orders. The work order is then reviewed, prioritized, and determined how to resolve.
How do you determine who pays for work orders, owner or tenant?
Who pays really depends on the issue itself. Some items are cut and dry, if the roof has a leak or the water heater breaks it is clearly on the owner. If a window is broken or a screen torn, it is clearly on the tenant. Some of the tricker ones are usually plumbing clogs. If a clog is caused by roots or pipe corrosion that is something that the owner will need to pay for, if the plumber pulls a barbie doll, flushable wipes, feminine products, etc out of the toilet that is on the tenant to pay. If the plumber can't pull anything back it will be on the owner.
How much will my property rent for?
It will depend on 3 factors. What the market supports, what condition it is in, and sometimes what time of year it is.
What if a major repair needs to occur?
Major repairs are estimated and require approval prior to completion, but do not necessarily need to be performed through our Vendor Network. For example, if a new roof is required to be replaced on your investment we will provide estimates through our Vendor Network, however, if you have your own roofer and would like to schedule it with them you are free to do so. Simply let us know so that we can properly schedule it with the tenant.
What type of Insurance do I need?
It is highly suggested that you have insurance for your rental property and your insurance agent would be the best source of information for that. In the case that you insure through citizens you may need additional General Liability insurance, but that is something to discuss with your Agent.
How quickly and how am I paid my rent? Where are my funds held?
Rental income is paid within 5 days of it clearing our banks. Once cleared, the direct deposit process to your bank takes two business days to make it to your account. While those funds are in transition they are held in our bank account.
How long are your properties vacant?
This is a tricky question. It really depends on several factors as outlined in 'how much will my property rent for' and 'do I need to allow pets'.
What if I want to sell my house, do I have to use you?
No, certainly not. We do buy and sell houses for our clients, however, you are not required to use us. If you sell your house to a tenant that we procurred you will be required to pay a commission for finding your buyer.
Do I need to allow pets? How do you handle Pets?
No, you do not need to allow pets, however, if you don't you will cut about 50% of the market right out of being able to apply for your house. If pets are allowed we handle them with a pet application, which includes vet records, incident history, and an addition to the security deposit of $500 per pet. We do this for several reasons, but the most important is that responsible people have responsible pets and they appreciate a refundable pet deposit. There are other legal reasons as well that can be discussed at a later point.
Do you hold an owner reserve?
We do hold an owner reserve, which is initially applied and replenished to your account from rent as we do not require you to pay money into your account. The owner reserve is $300 to assist with small maintenance items.
What is the $ amount that will signal my notification of an issue?
A repair in the amount of $300 will trigger our notification to you that a repair needs to occur prior to it occuring, unless deemed an emergency (water heaters, clogged sewer lines in a 1 bath unit, leaking roof, etc). This amount isn't enough for a major repair, however, depending on the area of florida you are in could be the amount that is required for the snaking of a sewer line, it could be more. All workorders are logged in the system and if the work order triggers any amount to be paid it will show in your epenses ledger and you will be able to see it instantly.
What is your rent distribution process?
The Owner portal is outfitted with your checking account and routing number and once funds have cleared from the tenant the system will initiate the transfer to your account.
Do you have Handbooks for the tenants?
Yes, we have a handbook for tenants which is provided to all tenants eletronically. Our handbook outlines all of the rules and regulations for the tenants including maintenance and our owners are encouraged to read through the handbook as well.
What if my property is already filled with a tenant?
That is great! We will introduce ourselves and get them setup with all of the portal information. If they don't have a current lease with you, we will require that the tenant signs a new lease for the property in a renewal form.
How will you find and approve Tenants?
Our marketing processes are agressive and not wasteful. We do not list rentals on the MLS as in today's day and age most renters find their rentals through the internet and not a realtor. Our system markets your property in over 25 different sites to ensure maximum exposure and prescreens possible tenants prior to viewing.
What happens if a tenant doesn't pay?
Rents for all of our tenants are due on the 1st of the month and is considered late if not paid by 5pm on the 1st, there is not grace period of any kind with our lease. The next business day a 3 day notice to pay is posted on the tenant's door. At that point the tenant has 3 business days to pay the rent. At the end of the 3 business days we will discuss with you about beginning the eviction process. Evictions are rare with our application process, however they do happen as sometimes bad things happen to good people. 99% of the time the 3 day notice solves the problem and the rent is paid
What happens if a tenant leaves the house without cleaning and there are damages?
The security deposit that is held by us is usually equivilent to one month's rent depending on the situation (pets). However, if the rent is less than $1000 we still require $1000 security deposit from the tenants that we place. This allows for us to more easily put the house back into rent ready condition using their funds as well as keeps risk limited on the eviction side. A security deposit isn't just for property damage, but also for financial damage that a tenant can do.
What about security deposit and last months rent?
Where are those held?
The tenant's security deposit and possibly last month's rent are held in an escrow account by our brokerage as dictated by State law.
What happens if a tenant reports mold?
Our lease addendum contains a mold clause. This mold clause outlines their responsiblity to keep mold at a minimum and how to perform those actions such as cleaning and AC maintenance. It also requires them to notify us immediately of any water issues that could cause mold.
How do you collect rent from tenants?
We collect rent from tenants in two ways. They can pay online via the tenant portal using a checking account or credit card, all processing fees charged to them. Or they can pay using the PayNearMe Network which allows tenants to take cash to any 7-11 or Ace money store and pay their rent directly and receive a receipt instantly.
Do you require tenants to get renters insurance?
We heavily recommend it and do require it in certain instances. Our tenant portal will notify the tenant if renters insurance is required and will give them an option to purchase it. The system will also indicate, if not required, that the tenant declined to get insurance.
Do I have final say in the tenants?
No, If you are looking to have final say in the tenants, to be able to modify the contract, or modify the lease you probably need to work with a different company. We are highly efficient in our processes and that is the reason we are able to keep our prices low.
What happens if a tenant breaks a rule in the lease
Many tenants may pay their rent on time, but may have issues with other rules in the lease such as keeping the lawn mowed, having illegal pets, parking on the grass, etc. These are all rules as outlined in the lease and the tenant handbook. If a violation occurs a 7 day notice to cure is posted on the tenant's door. They then have 7 days to cure the violation or, if it is bad enough, we discuss the eviction process. Most items can be handled by performing the service and charging the tenant for the service, such as fines for parking on the grass or hiring a lawn service and charging it back to the tenant.
Do you require Last Month's rent
In the event that a possible applicant has a credit under 600 they will be required to post last month's rent with their move in costs.
Can I customize my needs?
You must certainly can and we can accomodate most customizations. With customizations comes additional costs.
Do you do Property Maintenance for a house I live in?
No, unfortunately we don't.
Do you handle Pool and Lawn Services?
We do handle those services in the instance you want to include them in rent. Pools are usually good to keep under our or your control, lawns depend on the situation.
Do you handle Vacation/Short Term Rentals?
Our partner, Vacationado, handles all Vacation Rentals. That is their focus. Just like we focus on annual rentals and it is our expertise, that is theirs. Feel free to contact them at vacationado.com
What services are provided in the fees?
The list of our services is vast, however we will summarize them here. Additional services are available but will need to be discussed.
Property Inspections, how often and how much?
Included property inspections occur once a year during the renewal process. We can arrange for additional inspections if you would like one every quarter or every 6 months, the additional inspections are charged at $99 per visit and will come with a physical report and pictures
Is there a Tenant Guarantee?
If we place a tenant that leaves or needs to be evicted before the end of the annual lease we will replace that tenant in the leasing process for free
Do you allow Lease Breaking?
Yes, we do allow for a tenant to break the lease. We require written notice from the tenant along with a two month lease break fee so that we can make the process seamless for you.
Do you do Section 8?
We do not participate in Section 8 housing
What type of Lease is used? Can I modify it?
We use a standard Florida Bar Association lease along with our own finely tuned appendix for items not covered by the standard lease. Included in the lease terms we require the tenant to sign the Move In/Move out checklist to ensure they understand the expectations up front. No, you aren't allowed to modify it.
Your Contract, specifics?
Our Terms and Conditions are outlined in the sign up process. Please read through them.
What is your move in-move out process?
Our processes are very detailed, but we will sum it up in the FAQ. When a tenant signs their lease they also sign the Move In/Move out checklist. This ensure that expecations are set up front with the tenants.
Are your Vendor's licensed and Insured?
Yes, all vendors are license, insured, and background checked. We partner with a third party organization that keeps all of the vendors under scrutiny to ensure that they stay licensed, insured, and keep a clean background.
Is there anything your Vendor Network can't handle?
There aren't any maintenance items or repair items that our network can't handle and usually for the best prices around.
What if I need Eviction Services?
Evictions are generally the same throughout the state of Florida, however, each county will have their small differences. We have gone through multiple evictions and even the scenario of the eviction can have different rules applied to it depending on the specifics, such as a failure to pay will follow different rules and processes than a holdover tenant. Just as wanting to sue for damages will be different than wanting posession only.