Frequently asked questions
What kind of homes do you manage?
We manage a wide array of homes: from single-family homes to townhomes to condos.
Why should I hire your company to manage my home?
We are a property management company managed by homeowners, and staffed by property managers experienced in the hottest of markets, with experience in not just management but also in buying and selling real estate.
We not only have experience managing homes, but we are Landlords ourselves. We know the pain points of homeownership and we know how to resolve them.
How will you market my home?
We analyze the current market rates within the neighborhood and beyond.
From there, we'll review with you the best rate that balances maximum value with quick tenant occupancy.
Our marketing efforts include online multiple listing sites including FMLS and GeorgiaMLS which trickle down to Zillow, Realtor, Redfin, Trulia, etc.
What all do you require of homeowners?
For all of our homeowners, we make signing up with a management company as painless as possible. We'll have a management agreement signed, which will include all of the supplmental documents like a property information sheet, direct deposit form (for payments), and necessary tax documents.
Once those are done then we'll ask for any house keys, mailbox keys, community amenities keys/fobs, etc.
Once we have everything we need, we'll visit the property and make any necessary recommendations for your property. Shortly after, when the property is ready, we'll schedule a professional photographer to take pictures of the property that showcase the property in its best light. Your property will be on the market in no time!
What if I'm not happy with the service?
We understand that there may be some differences in management styles. We understand we may not be the right fit for what you're looking for.
If you would like to terminate before we have secured a tenant, you are able to do so at anytime. The only termination fee is a 25% of a full month's rent to cover accrued marketing costs.
If you would like to terminate during an active lease, we ask that you provide a 60-day notice. That way we may notify the tenant of the management change and work with your new management company (if you are moving companies) to provide them with all necessary documents and information. The termination fee for this is a flat $200 fee to cover the additional work necessary to ensure a smooth transition for everyone involved.
Why should I hire a professional management company when I can manage it myself?
Managing a home is easy right? Just collect rent and keep up with repairs, right?
We hear this a lot from Landlords. And until the time comes when a tenant stops paying rent or causes a liability at the property, Landlords may not realize the importance of experience of a professional property management company.
You need to be familiar with several federal, state, and local laws and ordiances including but not limited to: Fair Housing laws, Fair Credit Reporting laws, Georgia Security Deposit laws, and Landlord & Tenant laws.
We help rescue homeowners from a bad situation with tenants all the time. You'll spend a lot of unnecessary time and stress trying to handle the situation on your own.
Can I use my own contractors for maintenance?
Sure! If you have a contractor/vendor that you have enjoyed working with in the past, you can give us their contact information and we can work out the details.
The contractor must be able to provide our offices a copy of their
business license to conduct work in the state of Georgia, provide us with a
W-9 (so we may pay them directly), and be covered by their own
active insurance policy.
If a contractor cannot agree or provide the cannot follow our company policies, we cannot be responsible for any of their work performed at the home. This is to protect both you and our company from potential costly lawsuits if something were to happen.
When do I receive rent money?
All of our owners receive their owner draw on the 12th of the month. For all of our residential tenants, we have rent due on the 1st of the month. We give them a grace period until the 5th of the month at 5 PM to pay rent, unless otherwise agreed in writing.
Keep in mind that if a tenant pays rent on the 5th of the month, it will take the bank a few days to clear (and longer if the day falls on a weekend or holiday). We take that rent payment and pay off any property expenses that might have occured. The wire transfer itself can also take a day or two (and longer if the transfer day falls on a weekend or holiday).
What do you do if a tenant is late?
If we haven't received a rent payment by the 5th of the month we send out the 3-Day Notice to Cure to the tenants. This notice (required by Georgia law) gives them 3 days to pay the full unpaid balance (including fees). If they do not pay by the end of the 3 days, then our office is allowed to file dispossessory against the tenants with the local magistrate courts. From there, we'll move forward with any legal proceedings to collect unpaid rents.
Tenants are more likely to pay rent when you hire a professional property management company like us. We have the tools to report unpaid accounts to Experian's RentBureau every 24 hours. We also make it easy & painless to send any deliquent accounts to Collections. This incentivizes tenants to pay in full and on time so that they don't have a negative account on their credit report. Which can in turn affect their ability to rent or borrow in the future.
What is escrow and why do you collect my tenant's rent payments?
In the state of Georgia, it is required that a 3rd party hold the tenant's security deposit during the duration of the lease. This ensures that you, the homeowner, don't intentionally or unintentionally spend that money when it becomes due back to the tenant.
An escrow is also known as a trust bank account. We are registered with Georgia Real Estate Commission (GREC) to maintain our escrow bank account with Wells Fargo. Escrow accounting allows for us, the property management company, to hold rental payments and deduct any property expenses before Owner Pay outs.
It is best practice for us to collect rental payments in order to have complete and full transparency of all rental payments - if they were complete, if they were on-time or if they were late, if they bounced, or if they cleared. This rental data is then uploaded to RentBureau (by Experian).
What is RentBureau (by Experian) and why should it matter to me?
Experian RentBureau is the largest and most widely used database of rental payment information and currently includes information on more than 16 million residents nationwide. Our rental payment data directly and automatically uploads to Experian RentBureau every 24 hours. This detailed rental payment information enables us (and other organizations) to make better informed decisions. We also use this data to screen new rental applicants’ payment history as part of our existing resident screening services. Experian®is the first major credit reporting agency to incorporate the positive rental payment data reported to Experian RentBureau in consumer credit reports, enabling residents to build credit history by paying rent responsibly.
This tool benefits Landlords trememously, in that we're more likely to collect rent from tenants on-time, discouraging tenants from skipping out on rent payments.
Not many property management companies can provide this same service and protection to Landlords. Ask us for more information!
To learn more about Experian RentBureau, visitwww.rentbureau.com.
How do you screen tenants?
Our tenant screening process is strict, thorough, and has multiple layers of approval before a lease is drafted up.
When a prospect inquires about your home, we ask them for information on their move-in date, average monthly income, average credit score, etc. We get all of this information before scheduling a showing. To help us filter out less qualified applicants and help them find a home that fits within their budget.
When they submit an application we process a nationwide credit, criminal, eviction, and rental history background check. We interview their current employer and their previous landlord. Were they good tenants? Did they pay rent on time? Were they reliable and arrive to work on time? If they pass this portion of the application they are approved by our Residential Property Manager.
Once they're approved by the Residential Property Manager, the application details are sent to the Manager for final approval. They double-check the application report to confirm all of the details and make sure we have another pair of eyes reviewing each application.