- What should be done in preparation to my house being rented?
The better the condition of the property, the better quality tenant it will attract! We will inspect your property prior to marketing at which time any maintenance concerns will be discussed. Window coverings, such as blinds, are required for the privacy and safety of the occupants. The lawn should be freshly cut, weeded and free of debris such as leaves. All debris and personal belongings must be removed from the property.
- How will you fill my vacancy?
A professional For Rent sign and window flyer will be placed on your property. We also utilize many free internet publications which fills most vacancies. Newspaper ads can be placed at your expense. Your property will be then showed to all interested parties.
- What if I don’t want smokers or pet owners in my property?
If you choose, Capital Property Management can strictly enforce a no smoking policy inside the home. Eliminating pet owners however, can reduce the number of your prospective tenants, but is also at your discretion. Please be advised that Service Animals are not considered “Pets” and therefore must be accepted (with appropriate documentation) as mandated by Fair Housing Laws.
- How much are your management fees?
The percentage is based off of rent collected. That means we don’t get paid unless you get paid. It’s in our best interest to rent your property as soon as possible to qualified tenants:
1-3 units = 9%
4-7 units = 8%
8-above = 7%
- When and how do I get my money?
Rent is due on the 1st and considered late on the 5th. We allow one week for the funds to clear the bank. Your check and owners statement is sent no later than the 25th of each month.
- What if the tenant doesn’t pay the rent when it’s due?
Rent is considered late on the 5th of the month. If it is not paid by the 5th, late fees begin to assess. If the Tenant fails to pay, a 3 Day Notice to Vacate will be served. A hearing will be scheduled at the courthouse if they have not remedied the balance by the third day. Filing and legal fees to be paid by the owner initially but tenant will be sued to reimburse.
- What if my property is damaged by the tenant?
We require a security deposit upon move-in which is usually sufficient in covering minor repairs. If the damage is in excess of the security deposit, they will be billed. Any unpaid damages risk possible turnover to a collection agency or small claims court. There will be a credit check, court & eviction check for applicants and those with good credit seldom cause much damage.
- Will the tenant ever call me in the middle of the night with an emergency?
All calls come to us. We will submit a work order for the maintenance at the tenant’s request. If something needs your attention or if we have a concern, we would discuss that with you during business hours. So no news is usually good news.