Owner FAQ

Info You Need

How are the property management fees collected?
The property management fees are collected from the rent. For monthly management the fees are deducted monthly. For a one tenant tenant placement the fee is deducted from first month's rent.

How are utilities handled?
Tenants are responsible for all utility charges, unless otherwise agreed upon in advance and in writing. They must also change all billing information to their name and mailing address as of the move-in date stated on the lease.

How are vacancies advertised? Who pays advertising costs?
Once the 30-Day Notice to Vacate is delivered to our office, we begin marketing your property. We advertise in the following venues:
 
- Our user friendly and professionally maintained web-site, complete with digital photos of your property
- Craig's List - www.craigslist.com - an on-line classified listing service
- Multiple Listing Service (MLS)
- An on-line listing service reaching over 100 web-sites
- Each property manager and rental agent has a copy of our available rentals list for reference
- Property signs placed in front of your rental property
- Military Directed Sites - Military by Owner, Sarges List, ect.
 
Coordinating and managing the advertising for your property is included in the leasing fees. However there is a fee to cover the advertising costs. contact your property manager.

How long will it take to rent my property?
It is impossible to predict exactly how long it will take to find qualified tenants for your property. A number of factors are involved: the size, location and overall condition of the property, the asking price relative to that of comparable properties in your neighborhood, and the time of year. However, the market time for renting is generally much shorter than the time required to sell the same property, and landlords can usually expect to have tenants within 30 to 60 days. If a property does not rent within this length of time, it is generally a sign that it is overpriced relative to its size and condition. Pricing your property competitively and having your property in the best condition possible are crucial to effective marketing.

How much do you collect from the tenant prior to moving in?
When a tenant is approved, we require all move in monies to be paid in certified funds. We require first month's rent and the total security deposit. If, pets are allowed an increased deposit is collected. 

Should I allow pets? Smokers? Children?
Pets and smokers are not protected classes. We work with each owner individually on the possibility of accepting pets. All our properties are considered non-smoking properties and we include this rule in every lease. Families are a protected class and we do not discriminate based on family structure or size. We are a very fair and professional management company and take pride in our knowledge and practices, abiding by all Federal, State and Local Fair Housing Laws.

What happens if tenants break their lease?
When the tenant breaks his or her lease before the lease period is over, there are two options the owner can choose from. By law the tenant can be charged/ held responsible for the term of lease until qualified tenants are found or a one time lease break fee can be charged. There are advantages and disadvantages to both. If this unfortunate occurance happens to your property, you property manager will advise you.

What happens when the tenant doesn't pay rent on time?
If rent is not received in our office by the 5th of the month the tenant is called immediately and a follow-up letter is sent the same day. If we still do not receive the rent we will serve the tenant with a three-day notice to pay or quit. In the event rent is still not paid, legal action will begin.

What is your screening process for prospective applicants?
We are very diligent with our screening for prospective tenants. We encourage you to review our rental application, policies and procedures as provided to each prospective tenant. Our professionally trained staff processes all applications in our office. We obtain a credit report for each applicant, contact current and previous landlords for rental references, and verify current employment. Placing qualified residents in your property is one of our most important goals as your property management company.

When should I expect my monthly report and checks?
The closing cycle of our monthly accounting happens on the 10th of each month. If the 10th falls on a weekend or holiday, checks and statements will be mailed on the nearest business day prior to the 10th. If you currently have your funds electronically transferred to your bank (EFT), please note that these transfers can take up to three business days to be processed. ACH Sign-up Form PDF.

Who handles problems late at night?
A designated person is in-charge of the in office Emergency phone line. When an emergency page is received, we will determine the severity of the problem and dispatch the needed service. We define an emergency as a fire, flood, or any dangerous or hazardous situation.

Why choose PropertyADVANTAGE?
The PropertyADVANTAGE team has more than 75 years of combined experience in quality property management. Among the team members are Residential Property Managers and Master Property Managers, including the author of The Unofficial Guide to Managing Rental Property and founder and president of one of the less than 30 Certified Residential Management Companies in the United States. PropertyADVANTAGE delivers all its services with honesty, integrity, knowledge and enthusiasm. We constantly update our professional services through seminars, workshops and other continuing education, so we can give each property the attention it deserves. At PropertyADVANTAGE, we treat your property like our own. 

Will I need to change my insurance coverage?
We advise all our property owners to consult directly with their insurance agent to be certain they are carrying adequate insurance for their property needs. We require current proof of insurance to be on record in our office for all properties we manage. We also require PropertyADVANTAGE to be named as additionally insured. We inform your tenants during the move in process to obtain renter's insurance. This is also noted in their lease that the owner's insurance does not cover the tenant's personal contents or any loss they might have during their tenancy.

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