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Owner Frequently Asked Questions
Answers to your common questions
Q: Can you tell me about marketing and how you will find a great tenant for us?+
A: Currently, we advertise on over 135 rental websites nationally, including the popular Craigslist, Zillow, Hot Pads, Trulia and more, which captures well over 90% of where potential tenants will search for rental homes. Our marketing is designed to attract the right tenant for your property. The marketing includes 25+ professional photographs and a virtual tour of the home, which provides an instant view of the floor-plan and the amenities for the potential tenant.
Q: Do you collect first and last month's rent?+
A: Once the tenant is approved we then move forward and collect the security deposit, which is equal to the rent, the first months’ rent, as well as, a pet deposit, if applicable. Regardless of the actual move-in date, the first months’ rent is always paid in full prior to move-in. This ensures the initial first month rent is paid in full prior to picking up the keys and the pro-rated rent would then be collected on the 1st of month. With the emphasis on maximizing the return on your investment property, this is one of many things we do for the owner/investor
Q: Having troubles reading your owners statement?+
Q: How am I protected if the tenant damages the property?+
A: First we collect a Security Deposit to help offset any tenant damages above and beyond normal wear and tear. Secondly, we do a move-in inspection, along with video (video is really difficult to refute) noting any damages or items that need to be identified. If the tenants owe more than their Security Deposit covered, we send them a bill. If they don’t pay, we turn them over to a collection agency.
Q: How long will it take to find a tenant?+
A: One week to three weeks.
Q: I don’t want Pets, is that ok?+
A: Nearly 80% of families have Pets and most of the ones we know love their Pets
If you are absolutely sure about no Pets, then of course we will not show or allow any tenants with Pets.
There is always a Pet Deposit ranging from $250 to $500 per pet.
Q: What do I need to do to get my house ready to rent? And how can I get the highest rent price?+
A: To get a quality tenant and maximize the rental income, the home needs to be professionally cleaned, carpets shampooed (or replaced) and all necessary maintenance work completed. It’s important to note we strongly encourage we help facilitate the professional cleaning and maintenance to confirm all the little things are cleaned and working to perfection.
If your homes interior has not been painted in years, you may want to consider painting it. It’s not required, however, everyone loves a fresh new coat of paint.
Window coverings are always a good question. Do I leave them or do I take them?
For the well-being of your home, you don’t want to take them down and have someone else put different coverings up. It causes unnecessary wear and tear on your home.
Remember, the better the condition of your home, the better quality tenant and higher rent you will receive.
All personal belongings of yours will need to be removed from the home, unless of course, they are permanent.
Q: What happens if the tenant does not pay rent on time?+
A: This is a rare occurrence with our proactive approach. We remind each tenant when rent is due, each tenant receives a personal call and email if rent has not been received toward the end of the day on the 4th. If rent is late, we are firm about collecting the late fee, which has proved to be a great deterrent for future late payments.
If not paid by the 8th of the month, we send a 72 Hour Notice to Pay the Rent or Vacate.
Q: What happens if the tenant leaves before the end of the lease?+
A: The tenant is responsible for the terms of their lease agreement, which includes rent and utilities until the lease expiration. If the tenant should break the lease terms, the tenant is responsible for the rent, as well as, utilities until a new tenant is secured. If the property will not be re-rented, the tenant will be charged a lease break fee which is equal to one and a half times the rent.
We always re-post and advertise a property the moment we know a tenant is breaking a lease or is forced to move for any reason. The owner/agent is legally responsible to mitigate tenant costs when possible.
Q: What if they just don’t pay?+
A: We will proceed with an official eviction. We offer Eviction Safeguard at $10 a month and it’s great insurance against evictions costs. All our annual property management agreements include this $10 a month fee to help protect you against the majority of the eviction costs. You would be responsible for filing fees and any legal fees if necessary. We have had less than a handful of evictions in twenty five years.
A: We are an industry leader and pay faster than just about anyone assuming you accept direct deposits. We deposit your money into your account on the 10th of each month, assuming holidays or weekends don’t interfere. If they do interfere, we default to the next business day. Check out our competitors, they usually don’t pay until the end of the month.
Q: Who does the repairs on the properties you manage?+
A: We use only licensed and bonded professionals. We have negotiated favorable rates with most of the vendors to save you money and expedite the response time. We intentionally don’t have our own plumbers, painters, electricians, etc. We prefer to use the many available to us in the area. We check up on them to make sure the tenants or owners are happy with their work and they didn’t leave a mess behind. If they do poor work or don’t honor their work, we don’t use them again. Trust us, they like all the work we send their way so normally their work is great. We believe our reaction time is better than any property management company that has their own maintenance. Other property management companies charge you additional money and they have few vendors at their disposal. With PropM, you are billed for the exact price of the vendors receipt and there never an upcharge. Our competitors can’t say that.
Q: Who holds the Security Deposit?+
A: We hold the security deposit in a Client Trust Account as required by law.
Q: Why is my property manager asking to be added as additionally insured?+
A: One main reason is the Property Manager takes on risk and liability as if they were a homeowner. The typical property management company carries general and professional liability. This insurance does not offer protection in regards to matters concerning the home itself. Essentially, the property manager assumes all the liability a homeowner does, however the insurance policies do not offer the same type of protection. This potentially leaves the property manager vulnerable to issues arising from the property itself, such as someone injuring themselves at the property, fire, water, burglary, etc. Ultimately it is a wise idea for the homeowner to add their property manager as additionally insured.
Q: Will I receive calls in the middle of the night?+
A: No, that’s why you hired us to relieve you of that stress. We handle all emergencies. We are one of the only companies that answers all calls with a live voice 24/7 to ensure the best possible customer service and availability. We always authorize all work to be done, so there will never be surprises on your homeowner’s distribution.
Q: Yard and Landscaping, what is required?+
A: The tenants will be required to maintain the yard in the condition it is provided to them. We prefer the yard should be freshly mowed, weeded, trimmed and the leaves and debris removed. If you have extensive landscaping, we suggest including landscaping services in the monthly rent. We will add that to the base rent. If landscaping is minimal, tenants sign in their lease agreement what is expected of them to keep the landscaping in good condition.
Q: How have the showings been going? Any interest?
A: We update you each Monday morning with a full report of inquiries, showings and feedback when feedback provided.
Q: How many prospects have been interested in my property?
A: We update you each Monday morning with a full report of inquiries, showings and feedback.
Q: How do we set a rental price for the home?
A: We use a variety of analytics to help determine the current market rents, including actual rents from the many homes we manage, and whether or not rents are trending up or down, We also take into account the type of property owner, some like to have the home rented right away, and others are willing to wait for top dollar. We can customize based on each owners goals.
Q: Who does the maintenance on my property?
A: We use a variety of licensed, bonded, insured trades, from plumbers, electricians to handymen/women and beyond. Our model is great for you, we get you better prices than if you called on your own.
Q: Can I use my owner contractor?
A: Yes, no problem. We would just set up your account when we onboard you into our system. Of course the vendor will need to be licensed, bonded and insured for the safety of the tenants. Owner of course can pay their vendor directly.
Q: What happens if you have to evict a tenant?
A: The eviction process is actually pretty straight forward, please call us to discuss. We offer Eviction Protection for $10/month, in which we will pay for eviction costs up until a jury trial. See Eviction Protection for more information.
Q: Do you inspect the property? How often?
A: Yes, we do. We inspect the property before each Move In, at 6 months and after the tenant vacates the property.
Q: I’d prefer not to have Children? Is that OK?
A: We have to abide by Fair Housing laws, which does not allow you to discriminate against children.
Q: Can you help me understand the service animal versus emotional support animal?
A: Although these animals often have therapeutic benefits, they are not individually trained to perform specific tasks for their handlers. Under the ADA and Oregon law, owners of public accommodations are not required to allow emotional support animals, only service animals.
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