FREQUENTLY ASKED QUESTIONS (FAQS)
Q. What is your Monthly Management Fee?
A. Our Standard fee is 10% of rental income. Each month we run a different monthly special. The special is available on our website.
Q. Is your rate negotiable with multiple properties?
A. Yes. Depends on a number of factors eg location of the units and number of units , area and the type of service to be provided
Q. What type of services do you provide?
A. We are a full service property management company. That is, we provide at no additional management cost things required to keep the tenant in the property and the Owner to receiving a monthly income. This include rent collection, serving notices, renewing leases, inspection of property, handling repairs, collecting rental tax, payment of taxes to city, monthly and year end statements.
Q. If property is vacant how do you find a tenant?
A. We have plans for marketing different types of properties in various areas.
Q. Do I need to pay up front for tenant finding?
A. No the tenant finding service has to earn the commission. When a tenant is found the owner is required to pay a co-broke.
Q. Where do you advertise properties?
A. We have a basic marketing package which includes advertising on our website and placing yard signs. Your property is marketed through www.crestrealtyaz.com. Our website is a member of point2 which has direct relationship with thousands of Realtors. We also do visual tours for the Web.
Q. Do you conduct regular property inspections?
A. When a new tenant move in we conduct the first inspection during the first 90 days. We monitor the property through regular monthly drive by and at random quarterly inspections. If we notice anything unusual then we would do a physical inspection. We conduct another physical inspection during the last quarter if the tenant lease.
Q. What happens if tenant does not pay rent on time?
A. All rents are due on the 1st day of the month. There is a 4 day grace period. On the 5th day late notices are sent out via certified mail and we begin charging late fees.
Q. How long does it take to evict a tenant if tenant is not paying rent?
A. The Landlord Tenant Act of Arizona is very favorable to landlords and we can legally have some one out of the property within 25 days after default.
Q. What does it cost to do an eviction and who pays for it?
A. It cost roughly $ 210 from start to finish. The owner pays initially but evicted tenants are sent to collections for all outstanding payments which include unpaid rent, damages if applicable and legal cost.
Q . Do you use email and can you keep us posted on any events going on at our properties without me calling you?
A. Yes, we actually prefer to communicate by email. Your monthly statements can be sent by email and your monthly funds can be transferred online.
You can also view your account through the owners portal.
Q. In the event that our “relationship” does not work out, what exactly it will take to terminate our agreement? Is there a charge for breaking our contract?
A. If you terminate your contract less than 6 months after the start of the contract period there is a $500 termination fee. We also require 30 days notice if you plan to terminate your contract.
Q. Who handles Maintenance of the property?
A. We have an in-house maintenance crew (Flex Property Services) that handles basic handyman work. We also have a list of vendors that we use for maintenance work. We use contractors for electrical, major plumbing and HVAC repairs. We are constantly adding to our vendor list to ensure quality of service and to contain cost. You are not obligated to use the in-house maintenance or any of our vendors if you have a service you would like to use.
Q,. How do I get detailed information of repairs?
A. We would provide at your request invoices/receipts for expenses with warranties stated on them.
Q What kind of reserve do you require?
A. Depending on the type of property and the estimated monthly expense. A well maintained single family home may not need more than $100
Q. How do you handle deposits?
A. The deposits are held in the Broker’s trust account.
Q. Are there any fees for vacant units?
A. No, we do not charge management fees for vacant units.
Q. Could we get references from other property owners?
A. Yes. References are available upon request?
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