Q: What are your fees?
A: Generally, there are two fees we charge owners- fees for leasing
and fees for management. You can hire us for either or both. The leasing
fee is a fee that is charged to screen and place a new tenant and is
charged every time a new tenant is placed. The other fee that is charged
is a management fee. This is the fee to handle the management of the
property- everything from move-ins to move-outs and everything in
between such as repairs, maintenance, inspections, a collection of
rents, paying bills, complaints and emergencies. Unlike other property
management companies, we don’t charge a fee unless the tenant pays-
so we don’t get paid unless you get paid!
Q: Do I need to pay for marketing?
A: There is no cost to the owner for the marketing of the property
for residential owners. We pay for signage, flyers, online ads, and
various other marketing services. We typically do not put the properties
on the MLS, since very few real estate agents have renters, and few
properties are advertised for rent there.
Q: What do I need to do to prepare my property to be rented?
A: Tenants expect all major systems to be operating condition, all
health and safety issues to be addressed, and the property to be
‘move-in’ ready. This may include painting, carpet cleaning, interior
cleaning and minor repairs.
Q: Who pays for maintenance and repairs during the tenant’s stay?
A: The owner is responsible to pay any costs for repairs or maintenance
related to the property. We typically will hold back an agreed upon amount
for repairs and maintenance to ensure the property is up kept and items
are fixed within a timely manner. Any charge above upon that amount would
need to be approved by you as owner. Any damage caused by the tenant
will be the responsibility of the tenant.
Q: Who determines the rental rate?
A: We will recommend an asking price for your property, based on our
rental analysis, real estate experience and other circumstances such
as amenities and time of year to determine a price. Ultimately though,
the rental market itself decides the monthly rent with the interest
and offers from prospective tenants.
Q: How are tenants screened?
A: We pride ourselves in our tenant screening process. Our search for
the most qualified tenant begins with the initial tenant phone call or
walk-in from our marketing efforts. If they have viewed the property,
the next step is filling out our detailed rental application. We use a
third party vendor to do the screening though they do follow our strict
criteria we have set for tenants. All important factors are verified such
as income, employment, creditworthiness and past landlords, and criminal
check. By following these steps we can obtain the best-qualified tenant
for your property, and thereby minimize your risk.
Q: How long of a lease do you sign?
A: Unless authorized by the owner, we require a one year lease.
Q: How much security deposit do you charge the tenant?
A: The minimum security deposit required is equal to one month’s rent.
Q: Should I allow pets in my property?
A: This is entirely up to the owner. Owens Management Group uses
PetScreening.com to screen all potential renters with pets. Each
applicant must submit a separate pet application with pictures and
updated vaccination records of each prospective pet living on the premises.
PetScreeing.com provides a recommendation based on the materials supplied.
Q: What type of reports do I get and how often?
A: Each month, an income report is automatically uploaded into your
secure online portal. This report details all income and expenses
allocated to your property during that month.
Q: Who holds the tenant security deposit?
A: Owens Management Group securely holds all security deposits in an insured bank account.