- How much can I lease my home for?
Finding a good rental listing price is similar to running "comps" for sale. We would do proper research to find your existing "active" competition in addition to finding what has recently leased comparable to your home itself, the neighborhood, and features etc. Call us and we can assist you with this right away!
- How long will it take to find a tenant for my home?
The depends on the home and area of course. Smaller single family homes, condos, and townhomes generally lease faster than a larger family home. However, we would run a detailed rental comparative market analysis to get a good "range" of what your days on market may be. Generally 30-60 days is average. Finally we will also advise you on current market specials we are recommending such as "first month free" or "ZERO Move in" sometimes these are necessary to do!
- What are your fees?
The advertising per vacancy is generally only $499 depending on property type and number of units. This covers the cost for advertising your home via the web and print. The monthly management fee is generally $69 per month depending on property type, location, and number of units. We do not have any "up front" fees. All of our fees are taken only from rent collected. For furnished rentals, luxury or custom properties contact us for a quote.
- How do you advertise my home?
First and foremost we will place your home within the rental MLS and offer any Realtor in the valley a commission to assist us in placing a qualified tenant. We also utilize only the most effective and innovative internet advertising available today! This includes Zillow, Trulia and Hot pads! We are confident through our strategic ad placement and aggressive tenant placement we will fill your vacancy faster then any competitor!
- How do you screen a potential tenant?
All potential tenants must fill out an application. We then run a full credit report, verify employment, bank statements, research past landlord history and check references.
- Do you offer a lease only service without management?
Not Currently, however a standard Realtor will charge you generally the same if not more compared to our reduced leasing and management fees combined! In addition to this "costs" are only a small part of the responsibility and liability of taking on a tenant. Give us a call to review before deciding against full service property management - you won't regret it.
- What if a tenant does not pay rent?
If after the 5th day of the month rent is not paid a "5 day notice" to pay or quit is issued. If no rent is received after the legal notice period of 5 days is up, then our attorneys file a motion in the local Justice Court for a hearing and judgment against the resident for non-payment and removal from the property. If payment is was not received from the resident at the hearing, then an order from the Judge to remove the tenant is issued to the Court's Constable and within a week the property is returned to us. This entire process beginning the 2nd day of month is usually concluded within 4 weeks. Opulent prides itself on having a fair but firm policy on rent collection enforcement to protect your interests in the property.
- What if there is a repair on my home? How does that work?
The tenant will call us on all repair calls. Any repair $300 or under you will not be notified on. Any repair call over $300 you will be contacted to discuss and/or form a game plan to repair. This reason is twofold. If we contacted every owner on "minor repairs" this would not only be inefficient but also contradicts the true value of property management. You should not want to be bothered on menial repairs. That is one of the great benefits to management. We also take great pride in walking tenants through self-help whenever possible prior to sending any maintenance vendors out.
- Do you hold back reserve funds for my property?
Yes, $300 will be held back from initial rent payments for incidentals and/or emergencies. This is your money kept in a trust account. This money as with all other financials will be outlined in your monthly accounting statement.
- Do I get a monthly statement?
Yes, on the 15th of each month an electronic statement will be emailed to you outlining activity from the previous month.
- Do you do routine inspections?
We sure do! Move in and Move out inspections are completed routinely. You as an owner can also request additional inspections on the main page of our website under "owners". Once this request is received we usually have the inspection completed and the results provided to you within 5-7 days pending the tenants schedule and cooperation. The report comes via link and PDF packaged beautifully with date and time stamped photographs. One free inspection is included per year upon owners request. Additional inspections are $75.
- How do you handle HOA warnings or fines?
We will handle all incoming warnings or fines. We send them to the tenant via regular mail, certified mail, and provide a courtesy call. If and when the HOA assesses a fine, we will pay the fine asap so you as an owner remain current and the fine then becomes due and payable by the tenant with the following months rent.
- How do I get paid?
The tenants pay rent directly to us. All rents are generally received somewhere between the 6-8th of any given month, we wait a few days for the funds to become negotiable then direct deposit the funds to your bank account minus any expenses for the month (repairs etc.) on the 10th of each month unless that falls on a weekend or holiday, then its the next business day.
- Tell me about your team structure.
We are a small team (8-10 team members at any given time) and work as a team. We believe in the "departmental" model. Rather a single assigned property manager wearing 9 hats and none of them, our team works together to divide and conquer per department. IE: Leasing, maintenance, accounting, applications, owner/tenant satisfaction, marketing etc. This way each team member can effectively own their roles.
- Why should I use your services over other companies?
We see our best value to be in our business model, service, and pricing. In Property Management there are generally two types of business models the first being "mega" firms, managing thousands of homes, the second being "boutique" firms managing much less. We are a boutique management company and owner/operators. Although we have a robust team our company is overseen by an owner/operator NOT an hourly employee. This gives most owners a greater sense of peace knowing they can pick up the phone and speak with someone who has a vested interest in their success! In addition, our pricing is extremely competitive. Call us today for a no obligation estimate!