1) How many properties do you currently manage? ~120 (growing each month); we have 4 employees so a 30 property to 1 manager ratio.
2) What is the average advertising cost, per month? $0 (we don't charge for advertising. We use craigslist effectively and our signage helps.)
3) Do you charge for a lease renewal? if so, how much? No.
4) What time of the month do you usually disburse rent month to the owner? 15th to the 20th of the same month.
5) Do you keep the rent late fees? Yes
6) Is there any charge to the owner, management fee, when the property is vacant? No. we don't make anything unless you do.
7) What is the termination policy for management agreement? 60 days
8) We currently have an existing property manager, what is the procedure to transfer over to your company? simply cancel with existing property manager and sign our management agreement.
I'm going to be moving out of state, will you still work with me?
Absolutely. With few exceptions, most of our property owners live out of state. We can and do conduct most of our business through e-mail, fax, snail mail, and over the phone.
How much visibility will I have into what is going on with my property?
That is entirely up to you. We have some owners who want to peek over our shoulders every step of the way and some who only want to hear from us if the house burns down and we are unable to put out the flames by ourselves. Either way is fine with us and we are always happy to answer questions or talk to you about your property.
For those who want to be more involved, we have an online owner portal available 24/7 that displays any and all bills that pertain to your account and allows you to pull all kinds of reports to help you understand what’s going on with your property.
What are your fees?
Our fees are 10% of the rent collected.
How often do you inspect rental properties?
We do a complete inspection of all properties once a year. We will also inspect any time an owner makes a request or whenever we feel it is necessary.
Do you work with HOAs?
Owners are responsible for paying their own HOA dues, but we will handle any and all violations. If a resident incurs a fine due to repeated non-compliance with HOA deed restrictions, we will charge it back to them. It is the owner’s responsibility to make sure we have a copy of the CC&Rs that we can pass along to residents.
Do you work with home warranties?
If an owner has a home warranty on a property, we will use it as long as we are provided any and all information pertaining to the warranty including service request phone numbers, account numbers, etc.
How accessible are you?
Very. We do our best to be available to our owners and residents whenever they need us. During regular office hours, we are constantly available via phone or e-mail. We frequently check our e-mail at night and on weekends and provide cell phone numbers in the event of a property-threatening emergency that occurs anytime outside regular business hours.
How do you qualify residents?
We do a standard credit, criminal, and rental history check. We contact all landlords from the previous 2 years and ask them questions about whether or not the resident paid on time, bounced any checks, and how they took care of the property. We do pull credit and criminal reports and give the residents a chance to explain anything negative we find. We then present all information to the owner. The final say belongs to the owner. Please keep in mind that we are bound by state and federal fair housing laws and cannot reject an applicant on the basis of race, religion, age, sex, familial status, disability, or national origin. Please visit our Resident FAQ page to see more of our policies regarding qualification, pets, security deposits, etc.
Why use a property management company? Aren’t I better off doing it myself?
Depends. Some people have the time, temperament, and ability to handle their own rental properties quite capably. Others just do not. We have had quite a few individuals turn properties over to us after they realized they had bitten off more than they could chew.
We are licensed REALTORSÒ and as such are very familiar with fair housing and landlord tenant laws. We have close relationships with multiple vendors who take care of cleaning, painting, carpet, drywall, appliances, credit and background checks, etc. We use attorneys to handle evictions. We are fully equipped to manage your property and help you get the most out of your investment.
One of the best reasons for you to use a property management company, though, is that we are able to maintain a professional distance and do what needs to be done in difficult situations. While we do care about our residents and their well being, our primary responsibility is to our property owners. Many people who self manage their properties find themselves taken advantage of while the resident enjoys a free ride.
If you have any questions not addressed here, please call our office at (480) 981-1430, email info@beehiveproperties.com , or come by our office. We’d be happy to chat with you!