Are there really only 5 Fees that I have to pay for full management services?
Yes, those are all of our fees! Contained within those 5 fees is our promise to you that all of your needs will be addressed.
When will I receive my money each month?
We pay rent to owners by the 10th (or next closest business day) of each month. Payment options include direct deposit and direct mail.
How do you pay me faster than other property management companies pay their owners?
We require all of our tenants to pay their rent through an EFT payment account, which ensures that you receive payments immediately. It also helps to lessen the chance of a check bouncing from a tenant. EFT does not require additional fees for these services.
What if a rent payment is late?
Rent is due on the 4th of every month. If payment has not been received by the following morning, we will automatically send the tenant a 3-day notice of failure to pay rent, which also serves as an eviction notice. If rent is not paid by the time the notice expires, we can legally evict them. In most cases, tenants will pay when they receive notice and we work with them in order to reach a resolution. We are strict in our enforcement of timely rent payment and we will remain in close contact with you throughout the entire process in order to ensure that you receive your rent payment in full.
What if a tenant damages the property? If damages are found, tenants are given a 7-day notice of non-compliance to make the necessary repairs. We will schedule a site visit to ensure that the repairs have been completed in full. If the item is a liability or will cause further damage to the property we will repair all damages at the tenant’s expense, while remaining in compliance with your lease and the law . Any expenses incurred on your behalf will be repaid in full upon receiving payment from the tenant. If the tenant does not pay by the invoice date, additional late fees will be assessed.
Although these cases are rare, our damage repair procedure has proven a reliable measure in resolving all issues related to property damage.
What legally do I have to maintain on the property?
Residential property must adhere to building code standards, which include lawn taken care as needed. The lease requires that we maintain everything in the home in good working order. If your air conditioner, heater, hot water heater, appliances, etc. break down, we will repair it. The tenant is renting the home with all of the items in working condition and could legally retain rent if we don’t continue to keep the home maintained. This is critical when it comes to serious problems such as roof replacement, drain field replacement, electrical problems, and anything relating to safety and security of the home, the tenants and their belongings. We are well versed in this area and will work to ensure that your property stays within the rules of compliance.
What are Golden Rule Real Estate & Property Management’s maintenance requirements?
At the beginning of our managing agreement, we ask that you complete and/or provide the following items:
- Lawn freshly mowed and shrubbery trimmed
- Roof and gutters cleaned of leaves and debris
- Remove all personal possessions, garbage, etc.
- Provide new HVAC, refrigerator, and water filters
- Provide operational fire extinguisher on property
- New batteries for all smoke detectors
- New light bulbs for all lights, including ovens and storage spaces
- Professional cleaning
We want to ensure your future tenants receive your home in the best possible condition, and that it is returned to you in the condition in which it was received.
Should I allow pets at my rental home?
It’s up to each owner to decide if they wish to allow pets in their homes. Statistical data shows that approximately 50-75% of renters do have pets, so allowing pets can expand your market of potential renters.
We do have restrictions on the type of pets we will allow. Dog breeds that are not allowed are aggressive breeds: German Shepherds, Dobermans, Pit Bulls, Chows, or Rottweilers.
Will you help me find a good tenant?
Yes! We do offer our Tenant Location Only service or TLO. See below for more information.
What’s the difference between Full Management and TLO (Tenant Location Only) services?
The main difference is how long we manage the property. With Full Management we are responsible from the very beginning with marketing the property to the very end when the tenant moves out and we process the security deposit. With Full Management we are there every step of the way making sure you, your property and your tenants are taken care of.
With TLO we are with you a shorter time. We will handle marketing the property, qualifying your tenant(s), and ensuring they have a smooth move in. After that we hand the property back to you for month-to-month management.