18 Nov Top Property Manager FAQ’s Answered
Below is a list of the most common questions (and their answers) that we receive about our services at the Hermann London Group:
What are the charges associated with your Property Management services?
Our charges are variable based upon several factors including property condition. In most instances we need to tour the property before the monthly percentage is agreed upon.
Do you have a list of maintenance companies that you work with?
We work with other professionals that are honest and do quality work. Sometimes our clients prefer to use handymen that they know, but we also have a list of trusted individuals we rely on regularly.
Do you charge extra fees for maintenance work performed?
There are no hidden or extra fees charged by the Hermann London Group. When a bid is presented, it comes directly from the maintenance company. We value your business and are only paid through the terms indicated above.
What is the rental application fee and what does it cover?
If you are a prospective tenant for a property that we represent, we charge $35 per adult that will be living there. This cost covers our criminal background and credit checks. You must have a valid email address indicated as well which allows a verification email to be sent to you authorizing us to process these checks.
Do I need to check with my home owner’s association to see if I am allowed to rent under the bylaws?
Unless you are trying to rent your condo or villa, it is very unlikely that there would be any restrictions limiting your ability to lease your home. Residential subdivisions rarely have stipulations on these matters. However, it is common for Condo/Villa Associations to have specific rules and regulations that must be followed. Either way, we recommend checking just to be sure.
Do I need a special permit to rent my house to tenants?
Generally, in most municipalities you need an inspection by the local county government approving your property as safe for rent.
What is the process for evicting a tenant?
There are two forms that need to be filled out, notarized, and turned in with the appropriate fee depending on what type of eviction you are interested in. The current cost to have the sheriff serve the eviction documents is $101. Once the papers are served, the property owner and tenant appear before a judge to decide if the tenant should be evicted. When the tenant is evicted, the sheriff will physically remove the tenant if he still refuses to vacate the property.
How long does the Property Agreement last?
A Property Agreement is a contract that can be adjusted to your preferences. It can be made for one month or ten years. The typical lease term is usually 12 months.
Who should I call if my neighbors are too loud?
Issues with noise, assault, theft, etc. should always first be directed to the local law enforcement authorities.
Who should I call if my air conditioning stopped working all of a sudden?
In cases of maintenance issues, you should contact your property manager to get your problem resolved. Emergency situations will be escalated and addressed more quickly than less serious issues.
What are the benefits of using a Realtor?
A Realtor has access to a database of listings, deals with other professional real estate agents, and commits to following a Code of Ethics. All of these facts benefit a prospective tenant, a buyer, a seller, or a lessor.
What are the estimated costs to change the front door lock (only exterior entrance with key)?
Although we do suggest our landlords change the locks between tenants, it is not a requirement. The estimated cost will depend on how many locks, the quality of the lock you purchase, and if you install them yourself, or if you have us hire a company. Most major hardware stores sell a pack of locks for around $75.00 that typically covers at least 3 exterior doors.
What are the estimated cleaning costs? What does it include?
This one also depends on the size of the house, and the condition it’s in when we receive it. Ideally between tenants the property will need a fairly quick wipe-down and broom sweeping. Our residents are coached on the importance of maintaining their rental and doing a thorough cleaning job before their move out. We work with several cleaning companies, and it could cost between $50.00 and $400.00 depending on size and condition.
What is the minimum credit score that a tenant will qualify?
We get this question and questions like it very often. The best thing we can tell you is that you will have the final say. You will see the report from our screening company, and you will have the final say to approve or deny any tenant. Every potential tenant has a different set of circumstances, and we suggest looking at the full picture. Rental History, Income, Credit history, and criminal history.
We need more detailed information about the companies that you use to resolve any property maintenance issue. Who are the companies that you work with? How long have you been working with them? Where are they located? What is their response time?
Over the years, we have built relationships with a strong Rolodex of vendors to solve any of the property maintenance and upkeep issues we have seen. We utilize AngiesList.com to research and vet any new vendors we may need a relationship with. Also, and very importantly, if there is a “handy uncle” or another contracting company our property owners have a relationship with, we are always willing to use the contractor that the property owner chooses.
Does your company market the house using local journals / websites? Does your company use yard signs for promotion?
We advertise all of our properties on a long list of highly effective websites. Our systems are working, measured by our low “average days on market” and we have proven highly effective in quickly filling our properties with qualified tenants. Regarding yard signs and other directional related signs, our policy is simply, if the property allows it, we will use them. Some condo buildings do not allow signage, and some owners prefer to skip the yard signs. Otherwise, we always use them.
Does your company check prospective tenants with current and past landlords? Does your company check tenant’s employment?
We utilize a third-party company, called Triple A Screening, at the applicant’s expense to call current and past landlords, employment, credit, criminal history, etc. This reputable company has proven to do a thorough job in investigating a potential tenant’s background.
Who pays for yearly homeowners’ association fees? And Property taxes??
The owner is responsible for paying their property taxes. Hermann London Property Management will pay the homeowners association fees if asked, from the rent we receive.
Does your company charge any fee to obtain the certificate of occupancy?
Hermann London Property Management does not charge a fee for managing the process of getting the certificate of occupancy. In most cases the municipality will have a fee, and the owner is responsible for this charge.
Who is responsible for snow removal from property’s sidewalk and driveway?
In a single family residence, the tenant is responsible for the snow removal; it’s in their lease. In condo buildings and complexes that have outside management, the management company is responsible for managing this, and on multi-family buildings and communities that Hermann London Property Management manages, we are responsible for hiring a vendor to complete snow removal from the sidewalks and driveways.
What is the minimum insurance coverage that I need to carry?
Our insurance representatives suggest you obtain $1,000,000 in insurance coverage. Hermann London Property Management requires our owners to obtain a minimum of $500,000 in coverage and to add Hermann London Property Management as an additional insured. Here is the paragraph from the management agreement covering this topic:
Insurance Policies. Furnish REALTOR® with the name, address and telephone number of the agent and underwriter for each insurance policy, policy number and, upon request, with copies of all insurance policies from time to time carried by Owner during the term of this Contract and any endorsement(s) called for herein or by the terms of any lease agreement entered into, together with written authorization (if needed) for REALTOR® to communicate with the insurer. Owner agrees to carry fire and extended coverage insurance, and bodily injury, property damage, and personal injury public liability insurance in limits as required under any lease agreement entered into, but in any event not less than xxx, and to name REALTOR® as an additional insured party.