|
|
|
Home LOG IN Rentals
Contact Us
Apply Now
FAQ Relocation Our
Services Resources |
Property Management in West Orlando, Celebration,
Windermere, Dr. Philips, Winter Garden, Montverde, Ocoee, Metro West and
Oakland,
Frequently Asked Questions
(and detailed answers)
Looking for a property manager and a property
management company in Orlando, Florida? This FAQ section is designed to help you
decide if our property management company is right for you. After all, you need
a property manager who takes good care of your interests but different property
managers have different property management styles. We believe that there should
be a good fit between you, your property manager and your property management
company. After all, every property manager is not right for you and you are not
right for every property manager!
Provided below are answers to some common
questions about our Property Management services in Orlando, Fl. Click on any
line to see the answer for that question or just scroll down the page. Our goal
on this page is to provide a clear picture of what you can expect if you hire us
as your property management company.
|
Why should I hire you as my Property Management company?
How do you make sure the tenant is taking good care of my home while renting?
What do you do if they are not taking care of my property as they should, or you
discover unauthorized pets?
What happens if the tenant does not pay their rent?
How informed will I be about what happens with my property?
How do you handle maintenance requests?
Do you use the cheapest maintenance people you can find?
Do you hold some of my money for repairs? How much?
How do I know your property manager won’t spend my money on large repairs
without my approval?
What if I want you to use my plumber, A/C company, etc.?
When do you mail the owner's checks and statements?
Does your property management agreement give you exclusive right to sell my
property?
Who holds the tenant's security deposit?
How much security deposit do you charge the tenant?
How soon can you start managing my home?
How much will my house rent for?
Why should I hire you as my Property Management company?
You should hire us only if you think we are the best match for your property
management needs. Frankly, we are not a perfect fit for every property owner and
it would be arrogant and wrong for us to simply proclaim "we are the best, hire
us!". We may be the best property manager for some owners and properties but not
for others. That is why this FAQ page exists so that you can learn about us and
and the guiding principles we will employ in the management of your property.
Allow us to keep your investment in the black. By spending a little you will
keep your asset an asset and avoid it becoming a liability. Turning over your
rental property to the care of an unknown property manager can be an emotional
and frightening experience. You want to be able to trust your property manager
so that you won't be worrying about your home. The more research and information
you gather, the better you will feel about your final decision. Of course, we'd
love the chance to earn your trust and manage your property, so please read on.
Back to Top
How do you make sure the tenant is taking good care of my home while renting?
There are several ways your property manager has to know this. Above all,
careful tenant selection from the onset protects your property from being rented
to irresponsible people. During the lease term, we may have occasion to enter
the property for repair or maintenance reasons and will use that opportunity to
have a look. If we are fortunate enough not to have any repairs or maintenance
at your property over an extended period of time, your property manager will
schedule a preventative maintenance walk-through to make sure the air filter is
being changed, that the smoke alarms have batteries and that there are no
unreported problems at the property.
Back to Top
What do you do if they are not taking care of my property as they should, or you
discover unauthorized pets?
Your property manager gives the tenant an opportunity to correct the situation
and usually they will. If a problem persists, we will make a decision based on
that specific situation.
Back to Top
What happens if the tenant does not pay their rent?
About the 4th of each month, we send late notices to all tenants with unpaid
rent. We will post an eviction notice about the 9th day of the month (or
earlier if this has been an ongoing problem or owner requests different) if
payment is not received by then. Whether or not we eventually have to proceed
with a formal eviction depends on the specific circumstances. It is always
financially better for all involved if a solution can be worked out. If the
tenant has experienced a one-time event which is causing them a financial
hardship, and we have had no previous problems with them, it is better for you
and the tenant if we give them a chance to catch up - if there is reason to
believe they can do so. If the tenant has demonstrated an ongoing pattern of
late payments, broken promises about payments and/or evasiveness, we know from
experience that eviction is the best course of action. Each case is unique and
the property manager will make a decision based what is best for you and your
home in the long run. That said, we always proceed with the legal notices
required for eviction regardless of any other factors. We will simply postpone
the actual filing of the eviction if the tenant is showing favorable effort
toward resolution. Eviction for non-payment of rent in Florida is a slam dunk
and there is no way a tenant can prevail in court if they have not paid rent and
the landlord has properly executed the notices and filing process. Full
evictions, when necessary, can often be completed by the fourth or fifth week
after the process starts. However it may take longer depending on the court or
the appeals process.
Back to Top
How informed will I be about what happens with my property?
Absent any special considerations unique to you or your property, our rule of
thumb is this: If something may cause a potential interruption in your ordinary
cash flow (loss of tenant or non-emergency repair in excess of $300), we will
let you know about it right away. Other than that, the saying "no news is good
news" is most appropriate. Non emergency items will be communicated along with
your monthly statements and, of course, we encourage you to contact the property
manager anytime you have a question or wish to discuss something. We know some
owners desire a level of involvement that our property management system is not
designed to accommodate. We try our best to make sure you are an part of the
property management program. Part of that process is this Question and Answer
page so you can obtain a sense of how we think and how the manager will manage
your investment property.
Back to Top
How do you handle maintenance requests?
Tenants may fax, email, or call in their requests to us, but most fill out an
online form on our website. After we receive a repair request, we may contact
the tenant and ask them questions which will help us determine the exact nature
of the problem before sending a service technician. We also make sure it is not
something the tenant can fix themselves (example: reset button on the disposal,
tripped breaker) before your money is spent on a service call. After determining
that it is a legitimate problem, we will send the appropriate service vendor to
make the repair. We tell our tenants that we are able to handle most repair
requests within 1 to 2 working days, and in fact are usually able to do so.
Comfort items such as Air conditioning, no hot water or heat, receive highest
priority and are usually attended to the same or next business day.
Back to Top
Do you use the cheapest maintenance people you can find?
No. Our people are middle of the road in price and are competent and reliable.
We also have dedicated all-around maintenance sub-contractors who are
capable in a wide range of home repairs including air-conditioning, light
plumbing and electrical. We try to have our main guys handle most of the
multi-trade and make-ready tasks and use other vendors when we are backed up.
This saves our owners a lot of money on multi-trade repairs by cutting down on
the number of service calls to the property by different vendors. It also means
that if we are called out on a dishwasher repair, we are going to be checking
the a/c filter, sink drains, smoke alarms and general condition of the property
- something that a single trade vendor will not do for you. We think we have
developed a very sensible approach to handling maintenance and repairs and that
you will realize cost savings that other property managers simply can't or won't
deliver.
Back to Top
Do you hold some of my money for repairs? How much?
We will hold back $300 per home in your account so that we always have funds to
pay our vendors quickly.
Back to Top
How do I know your property manager won’t spend my money on large repairs
without my approval?
This is a legitimate fear. We promise in writing not to do that. For ordinary
maintenance and repairs of less than $300, we take care of it without notifying
you. You will find out when you receive your monthly statement. If we think a
repair might exceed $300, we will call you and let you know what is happening,
what we think should be done, and what the estimated cost might be. Sometimes
expenses such as a replacing a bad water heater, a roof leak that needs patching
or repair, or emergency A/C and furnace repairs are unavoidable. In those cases
where 1) the health or safety of a tenant is an issue, or 2) in instances where
there is only one option to consider or 3) the property will incur damage if
immediate action is not taken, the property manager will initiate the repair
work, even if it is higher that the $300 limit, and then let you know of the
situation and what we are doing about it. Mainly, we don't think important
repairs should be delayed while we try to contact you for permission to do the
obvious.
Back to Top
What if I want you to use my plumber, A/C company, etc.?
No problem just remember you selected them and BLENDWORTHS cannot be held
responsible for their performance. Our professional reputation as property
managers, both with tenants and owners, is largely, if not almost entirely,
determined by the effectiveness with which we handle maintenance. We follow a
practice that is most likely to insure the best possible response and resolution
to maintenance and repair problems for your property. Simply stated we suggest
letting us handle what we do best and work with those who know how we work.
Back to Top
When do you mail the owner's checks and statements?
Owners checks are mailed out on or after the 7th of each month. Most months, you
will have your check and statement in hand by the 12th.
Back to Top
Does your property management agreement give you exclusive right to sell my
property?
No. We can sell your property if you would like us to, but we don't bind you to
that in the management agreement. This is another trick that discount property
managers use. They manage your home at little or no profit knowing they have you
locked into an eventual sales listing. We think, at the time you decide to
eventually sell, you should be free to decide who the best listing agent will be
for your property given its location and characteristics. Most of our owners
choose a full time sales agent to sell their home and we encourage them to do so
in most instances.
Back to Top
Who holds the tenant's security deposit?
All security deposits must be held in our escrow account.
Back to Top
How much security deposit do you charge the tenant?
As a general rule of thumb we usually get around 70% to 100% of one month's rent
for deposit, rounded up to the nearest hundred. This is what will be asked for
by most property owners and property managers in Orlando.
Back to Top
How soon can you start managing my home?
We can start the process immediately. We will start by obtaining some
information about you and your property and helping you decide if we are a good
fit for your needs. Contact us online or call 1-800-486-0204
Back to Top
How much will my house rent for?
We are asked this question more than any other by new owner prospects. Of course
it depends on a lot of factors, but in general, most homes in and around Orlando
are currently renting for about 0.5% to 0.8% of the home's market sales value.
The more expensive your home, the lower the ratio of sales to rent value. For
example, a $120,000 three bedroom home may rent for $800 to $1100 per month in
Orlando depending on the neighborhood, the competition and the condition, while
a $240,000 home may only rent for $1600 to $2000. This is a very generalized
range but will in fact hold true in most instances. Sales values raced past rent
values in the mid to late 90's in Orlando Many owners who have purchased in the
past 6 years, and made a small down payment, cannot lease the home for an amount
that will cover the carrying costs - especially in newer neighborhoods that are
not yet built out. You also might not have enough equity to sell without
bringing money to the closing table. If you are in this situation, you are not
alone. Some of our new clients are "involuntary landlords", forced into leasing
their home by market conditions. The good news is, if you can ride out the
market, you are likely to be much better off in a few years than if you sell
your home now at a deeply discounted price. This in fact is why many out of
state investors have been buying investment homes in Orlando for the past three
years, expecting the long term gain to offset the short term cash flow loss. The
most important thing to know is that the rental market is indifferent to your
mortgage payment amount. The rental market does not care that you might have a
negative cash flow, and will punish with extended vacancy owners who overprice
their rental homes. When you hire us as your property manager, we will look at
the rental market in your particular area, survey the competing homes, and make
sure your home is priced so that it will be viewed favorably against the
competition.
Back to Top
|
|
 |
|
|
|
|
|
