General
How much do I get paid each month?
The management fees and property expenses are deducted from your total rental income each month. The difference is then mailed to you or deposited into your bank account.
When do the owner's checks get mailed?
On the 10th of each month or if the 10th falls on a weekend or holiday, the checks will be mailed the next business day.
Management Contract
Is there a long-term contract required for management services?
No. You can cancel the contract with 30 days notice.
Do I have to list with you if I sell my property?
No. We're a professional property management company and don't rely on listing commissions.
Leasing
Can I use my own leasing agent for my commercial/industrial property?
Yes.
How do you advertise your properties for lease?
For residential and commercial properties we advertise at the property and in websites such as craigslist.com, westsiderentals.com, and loopnet.com.
How do you screen your residential tenants?
We look at each tenant's credit, employment, rental history, and also perform a criminal background check. The rental application fee paid by the potential tenant is used to pay for the screening process. Our Statement of Rental Policy is located here.
Fees
Is there a setup fee?
No.
Are there any lease fees?
There are no lease fees for residential units, but for commercial units we charge a 4% commission fee. For example, if a tenant signs a 5 year lease for 2,000 square feet at $20 a foot, a 4% commission equals $8,000 (5 yrs x 2,000 sq ft x $20 a ft x 4%). There are no lease fees for extending the lease of an existing tenant.
Are there any advertising fees?
No.
Are there any fees for repairs?
We only charge for the cost of repairs.
Maintenance/Repairs
Do you hire outside contractors or do you use your own staff for maintenance?
Our maintenance staff is available at $35 per hour or if you wish we can hire independent contractors for maintenance services.
Can I use my own vendors?
Yes. We can supervise your vendors and inspect their work.
Do you send mail out receipts for repairs?
Yes. All original receipts are forwarded to the property owner on a monthly basis.
How much of an operating reserve do you require?
It depends on the size and type of building. We'll give you our advice, but ultimately it's your decision.
When do you contact the owner regarding repairs?
It's up to you. Most of our owners only want to be contacted when repairs exceed a predetermined value.
Who pays for property maintenance?
You will pay for all maintenence related to your property.
Tenant Disputes
What happens if my tenant does not pay rent?
The tenant will be served with a three day notice to pay rent or quit. The tenant will pay rent plus the late fee or we will file an unlawful detainer (if tenant fails to pay after three days). We will put forth our best efforts to negotiate a compromise with the tenant to mitigate rent loss.
Who pays the eviction legal fees?
You will pay all attorney's fees related to the eviction.