Thank you for trusting us to manage your investment. There is a risk when you decide to rent your property and we will do our utmost to ensure that we get quality tenants that will care for it. Below are some frequently asked questions that will also detail how we do business. Things do change in this industry from time to time and we will update this document as needed.

 

What do you charge to manage my property? We charge 10% of the monthly rent with a minimum of $100. This is taken directly from the tenants rent payment. If the property is vacant, we do not charge this fee.

 

How do you pay me the rent? We will electronically deposit the rent into the account you designate. Providing we have received payment from the tenant, funds will be deposited by the 10th of each month.

 

Why do the utilities need to be on in my name even if the property is vacant? This helps to protect your investment. If utilities are not on, it is impossible to properly check all systems in your property. Also, in the winter months, not having the utilities on can cause very expensive damage to your property. After all inspections are complete, the water may be turned off if desired.

 

Who performs maintenance on my property? We have companies that we utilize for various issues based on the location of your property. If you have a preferred company, then we will use them for your property maintenance.

 

How do I pay companies that perform work on my property? We will coordinate the work to be done and pay the vendor used. This charge will be taken from the next rent deposit.

 

The stove was working fine when I was living there, why are there problems now? Keep in mind, wear and tear continues on your property. All appliances must be in working order.

 

Why must my property pass a Fort Riley Housing inspection? The majority of our tenants are military and this is required. All utilities must be on for this inspection. They will check all smoke detectors, all appliances, screens and doors, electrical grounding, cleanliness, and other safety and functional items.

 

I want the tenant to weed and tend to the flower beds each spring. We hold the tenant responsible for mowing the grass and keeping the yard in compliance within the city codes. If you have special landscaping, you will need to hire someone to do this. We will do that for you if desired, and take the charge from your rent deposit.

 

What maintenance on my property is the tenant responsible for? When we perform a walk thru of the property, we will show them how to change the furnace filter, water filter if applicable, add salt to water softener if applicable, and special yard areas that will need mowed such as easements. All other maintenance items are your responsibility for payment. As stated above, we will use one of our vendors unless you want us to use someone else. This charge will be taken from the next rent deposit.

 

I do not want a single parent family to rent my property. This is in violation of the Fair Housing Act. If the tenant is otherwise qualified, we will rent to them. We will not however, allow multiple families to reside in the property nor allow sub leasing without your authorization. This is extremely rare.

 

How much money am I required to keep in the maintenance account? We do not require you to maintain a maintenance account. We highly recommend that you maintain your own account in the case of a high dollar repair or event, such as replacing a furnace, flood clean up, putting tenants in a motel, or other issues in which you are responsible for.

 

What is considered an emergency repair? Any issue that could cause injury to the tenant or damage to property such as a big water leak, flooding, major electrical, Air Conditioner when we are in a heat advisory, furnace when in a cold advisory, etc. We will attempt to get someone to the property immediately regardless of time of day or day of week to include holidays.

 

How will I know that there is an issue with my property? When we are notified of an issue by the tenant, we will inform you thru your owner portal. There, you will be able to track the progress of fixing the issue, who is performing the work, as well of the cost. There will never be a surprise charge for your property.

 

I received an email from you that you will be cleaning gutters and servicing air conditioners. I do not want that charge. As stated above, there will never be a surprise charge for your property. We do not make these services mandatory but highly recommend them. Most tenants do not have the knowledge to perform this maintenance nor is it their responsibility. Taking these measures could prevent a much higher cost in repairs in the future.

 

I do not want pets allowed in my property. That is your decision as the landlord whether to allow pets and what kind of pets. Keep in mind that most families do have pets and by allowing pets, you make your property open to a bigger base of tenants. However, by allowing pets the risk increases for damage to your property. In this area, a $300 pet deposit is the norm. Based on the pet(s), this deposit can be increased. All pet deposits are refundable as long as there is no pet damage.

 

How do you ensure that a tenant can afford the rent? When a tenant wants to rent your property, they must fill out an application. We then do a tenant screening report which includes credit score, criminal background check, evictions, and other derogatory items to ensure we get quality tenants for your property. This application includes employment information and income.

 

What if a tenant causes more damage than the security and pet deposit can cover? Unfortunately, regardless of our screening process, a bad tenant could slip thru. Again this is rare but is also a risk of renting. When a tenant puts in their 30 day notice, they are required to give us a forwarding address. If repairs exceed the deposit, we will bill them. If needed, we will sue them on your behalf in small claims court. In the 10 years that we have been doing this, it has happened 2 times. Both times we were able to recoup most of the money. The bottom line though is that any money to make repairs not paid by the tenant, will be your responsibility.

 

 

 

 

 

 

 

 

 

 

Posted by: Fort Riley Real Estate on June 1, 2017
Posted in: Uncategorized