Common Owner Questions
Read below, or Click here to generate your Rent Paid report.
1. Log in and Click Reports
2. Click Paid Rent
3. Change the Date Range to Say "Current Month" or another date range if you'd like.
4. Open PDF Report in your Browser or Adobe Acrobat.
1. Log in to Buildium. Instructions here.
2. Go to the Reports menu in the upper right.
3. Click the Rent paid link under Rental reports.
4. Under Date range, select Current Month.
5. Click Download report at the bottom of the form.
Great question. Your disbursement is your budgeted monthly draw (cashflow), so expect that each month.
The easiest way to think of it is that the net income (on the financials tab) is the amount that is added (or removed) from your pool of funds in a month, and the disbursement/draw is the amount that is removed from the pool of funds that month. Some months (good ones) you'll net more than your draw, and others you'll net less. But you can expect the same draw each month. Down the road, if you end up with extra money, we can adjust your budget, or send a lump sum.
If you generate a rental owner statement under the reports, it will give you a better breakdown than the financials tab.
All invoices are available in real time to view in the portal.
When you are on the owner portal, make sure you are accrual basis. This will let you see the invoices. For some reason the software doesn't pull up all the invoices when in cash basis. To switch to accrual, click the radio button at the top, and then hit search. It will load a new page with all the search results, then look for the paperclip icon to download/view. See the full instructions and screenshots here.
We hope these aren't your first two questions. The contract is for 1 year, which renews each year after. And yes you can cancel, with just 30 days notice.
We have no desire to hold you to a contract if you aren't a happy customer. We'll gladly (well perhaps with a slight frown) let you out of a contract with 30 day notice if you determine we aren't a good fit (even within the first year). Trust us, you won't be "stuck" with us...
Yes! In fact we have a 90 day money-back guarantee. If you aren't happy, just say so. We'll cancel the agreement and refund your management fees in the first 90 days...
As far are rent guarantees, maintenance or warranties, no we can't promise you won't have vacancy or things that break or need repair. But we'll do our best to handle and prevent them both!
We do it all! After you have terminated your contract with your existing manager, you will have a transfer date (the date they stop managing the property). If you request, you might be able to terminate your contract immediately by paying 1 month of management fees.
Before the transfer date, we'll setup your files, and send a request for documents from your manager. They will prepare these documents (leases, keys etc) and on the date of transfer will be will arranged to pickup. At this time, we will be able to update your portal with leases, dates and tenant information. Learn more about what to expect once you start service.
We have in the past, but we no longer do. We found that while locating tenants, signing leases and moving them in, that we built a relationship. And it was hard on our tenants to suddenly deal with the owner after the first month.
In fact, many tenants felt betrayed, frustrated and angry once they started dealing directly with the owner. Naturally, they'd call us to express their frustration. Let's just say, not all owners have the same sense of customer service that we do. So after much reflection, we have decided only to provide service that we can control, start to finish. This ensures that everyone is happy. Our reputation is worth more than the fees we could generate doing lease-up only services. Additionally, it's expensive as an owner! Many companies charge 50% of the first month's rent. Ouch..
After all, if we are doing our job, your place should be leased, and stay leased with a maximum of 15 days vacancy for many years to come!
No! We do not collect our fee until your home is leased! So, during the leasing process, we don't get paid unless you do! However, you will still be charged a flat $85/month minimum fee for any months vacant once your property is leased.
Once your place is leased, you'll see these charges show up (retroactive from your transfer date).
As much or as little as you want. Take for example maintenance decisions. Most owners place about $250 in their account to be used in case of minor repairs. They don't want to be notified every time a faucet leaks. However, if there is a more expensive repair, they do want to be contacted and involved in evaluating the bids and choosing the vendor.
We will work out an understanding with you about the degree to which you want to be involved in tenant selection, maintenance and repair issues, setting rental rates, etc. However most owners hire use because they don't want to bother with the day to day decisions.
We recommend leasing your property for 1 year at a time. However if we are leasing your property in any month besides May, June or July, we will recommend a slightly shorter lease. For example we aim to have all units turn over between the months of June, July and August.
These are historically the best months for filling vacancies and finding good tenants. So to make sure your property is on this cycle, we may recommend an 8 month lease or something else. Another reason to be on the cycle is so we can pre-lease your units. If we know your vacancy is coming, we will serve the tenants a stay or leave notice and find out their intentions. At this point, we can start to fill your upcoming vacancy long before it's available. We have found pre-leasing is the best way to avoid vacancy.
There are multiple factors that have to be taken into consideration to answer this question. Here are some general guidelines, however, keep in mind that amenities, pricing, and location are important factors in predicting success.
It is important to know that the time required to rent a property is region-specific with some areas renting relatively quickly and others continuing to be a challenge. Several management companies are now advertising "no deposit," "bad credit OK," "lease option with no qualifying," "no rent payment for 30 days," etc. We believe that renting to an unqualified tenant is nearly always a big mistake and that you may pay dearly for that mistake in the very near future. We encourage high qualifying standards for tenants with the price set to rent the property within 30 days. Because of the uniqueness of each home, we will work up a rental market analysis for you at no charge.
We specialize in residential property management and leasing which includes single family homes, duplexes, quads, townhomes and condominiums. We also manage select apartment complexes and commercial properties.
The monthly rent will be determined by the owner and our broker. Together, we'll come up with the best strategy for cashflow, vacancy and profit.
Take a look at our Ready to Get Started page and you will see all the information we need from the owner.
A great property in top notch condition with a good price is the best advertising. But to peak interest, we utilize several FREE advertising avenues to market your home including internet ads, newspaper ads and a For Rent Sign on your property.
Zillow, Hotpads, ApartmentList, Trulie, Postlets, Craigslist, ChicoRentalListing.com, CSUCHousing.com are just a few websites.
Very carefully. Getting good people in your property is the main success factor to having a profitable and rewarding experience. Qualified tenants are selected through our thorough application process. Employment and income are verified, prior landlords and personal references are contacted, and current credit reports are reviewed to determine the qualifications of each applicant.
We check backgrounds as well as social media. We have large security deposits and application fees to limit the un-motivated applicants.
We drive by and do an exterior report on every property, every month. We also have landscapers who take photos each visit and fill out a visitation log. In addition, our maintenance crew and vendors inform us of anything needing repair. And lastly, we do our own annual maintenance inspection to make sure all looks good and is working.
Each tenant gets a statement prior to the start of a month showing how much is due. They automatically get a late fee and email on the 6th of each month. On the 10th, we serve a 3 day notice and start the eviction process. We have a zero tolerance policy, tenants should pay on time or they should live elsewhere. We also have most tenants setup with monthly automatic EFT debits, so we get your rent payment like clockwork. We have very little problems with late payments.
Most tenants report maintenance directly to our project management system via their portal. We send out a vendor, staff or technician to fix the problem. You will be contacted if the repair estimate is over $150, or your other-specified authorization amount. If it's under this amount you will not be contacted. If it is, you will be asked for approval with an explanation of the problem. We have a very thorough task and project system that tracks all open items, bids, and progress so no maintenance item goes unresolved. Tenants also get a survey each time we visit their property. Tenants can also place maintenance requests online 24 hours a day and emergencies via telephone.
Well of course the owner does! But we do a great job getting jobs done for less, by bulk pricing, fast vendors and quality work. You may want to consider a home warranty if you are concerned with costs of repairs. Many times, a home warranty will help mitigate some of your repair cost.
Yes. If you'd like, we will pay monthly expenses such as the mortgage, insurance, taxes, HOA fees, utilities, etc. These expenses will be deducted from the monthly rent collected and the balance will be disbursed to you at the end of each accounting month. See about our real time owner portal.
Yes, we are a hands-on company that likes to be proactive in keeping units in great condition. We schedule monthly property inspection reports to pinpoint and address any areas that need attention. We also complete annual maintenance inspections, which verify that the interior and exterior of the units are well-kept.
Here are details on our property management options and fees.
We have a thorough process for collecting information and setting up an account for you. You can find all documentation and forms on our Ready to Get Started page.
"They care about tenants as much as they care about the quality of their rental properties"
-Karen, Chico Tenant
"I would recommend you in a heartbeat - you and your staff have been exceptional to work with"
- Kim, Chico Property Owner
"I so appreciate what you guys are doing."
- Mike, Chico Property Owner
"The people who work for this company, the men that work on the properties and talk with the tenants, are amazing."
-Karen, Chico Tenant
"You guys are great. It's nice not having to worry about the property and just getting to check my account each month."
- Dayton, Chico Rental Property Owner
"Thank you kindly for all your hard work. I know that I was not the ideal client but your diligence and work ethic are highly valued."
- Matt, Chico Property Owner
"I really appreciate you seeing me and taking on my house with such short notice. Thank you for taking care of my house, and getting it cleaned up and rented out so quickly! That is huge - thank you and your team so much!"
- Dave, Chico Property Owner
"We are very happy with our current situation. We have had numerous conversations that this time around (renting) it is so much easier! We feel that our property is now an asset as rental property and not a burden. Thank you!"
- Nancy, Chico Property Owner