We want to make the property management process as clear and easy as possible for you. Below are frequently asked questions regarding our process.
- How do you qualify and screen tenants?
- How and when do I receive my check each month?
- On average how long does the rental process take?
- What fees do you charge? Do you charge an administration or leasing fee for new accounts or new tenants?
- How much will my property rent for?
- How often do you inspect or drive by the property?
- Do you manage properties in my location?
- What happens when a tenant doesn’t pay rent on time?
- Who does the repairs on the properties? Do you have maintenance staff?
- How much notice do I need to give a tenant to move?
- What comes out of the tenants’ security deposit? Who holds onto the security deposit while the tenant is in place?
- Do you need a copy of my homeowners insurance?
- What do Owners provide to FGPM when we start doing business?
- What are the requirements for smoke and carbon monoxide detectors?
- What bill payments are included in the PM fees?
- What other costs may arise that an owner will pay for?
- Who pays for consumable / recurring item costs?
- Who pays for landscaping on trees and plants above 6 feet tall?
Q: How do you qualify and screen tenants?
A: We screen tenants strictly and fairly in order to protect your investment and follow all applicable Fair Housing and Equal Opportunity laws. Our background check includes income, credit, criminal, rental history, and evictions. The details can be found in our Rental Criteria on our tenant services page.
Q: How and when do I receive my check each month?
A: We will mail/deposit your check on the 10th of the month. Direct deposit is the quickest and simplest way to receive your money. We also send you a monthly statement via mail/email.
Q: On average, how long does the rental process take?
A: Once you sign a property management agreement, we will take photos and market your home right away. This typically will take 1-2 days. If your home is move-in ready, we will start showing your property within the first week. Rental placement will also depend on the time of year. Rentals usually rent quickly during summer months (1-2 weeks to rent) and slower during winter months (2-4 weeks to rent). Please keep in mind that time on the market is linked directly to rental amount, condition of the home, and pet policy. We will advise you on a strategy / price to help minimize vacancy and maximize your returns.
Q: What fees do you charge? Do you charge an administration or leasing fee for new accounts or new tenants?
A: We charge 25% of the first months rent ($400 minimum) after the tenant is placed. Our fees are 7% of gross rents (minimum of $125 per month).
Q: How much will my property rent for?
A: We will provide a free rental analysis for you! We can compare what current tenants pay and what current vacancies are asking in order to suggest a rent that will maximize your profit and minimize your vacancies. Please contact us for this FREE rental analysis service.
Q: How often do you inspect or drive by the property?
A: We conduct a drive-by inspection 5 months into the lease. We conduct a quick internal inspection 10 months into the lease. Our vendors and contractors also provide feedback regarding the status of a property. For example, if there is a gardener on the property, they would report any known issues or if we send a plumber into the home, they would give us feedback as well. You also have the opportunity to request a full house inspection by a professional inspector at the owner’s expense.
Q: Do you manage properties in my location?
A: Please refer to areas of service for a detailed list of locations and zip codes.
Q: What happens when a tenant doesn’t pay rent on time?
A: We hope that we have placed such great tenants that this will never be an issue. However, we have a 3 day grace period. Any rents not paid in full by the 4th of each month are considered late. We strictly enforce late fees. All collected late fees are split 50/50 with management. After the grace period we will issue a ‘3-day notice to pay or quit’ around the 7th of each month. If the rent is not paid by then, we attempt to have the tenant move and do our best to avoid eviction costs for the owner.
Q: Who does the repairs on the properties? Do you have maintenance staff?
A: We do not have maintenance staff. Instead, we work closely with a small group of third party licensed and insured contractors. We do not get paid from any repairs to your property! Coordinating repairs is part of our service. If repairs are big service items, we will get bids and review them with you directly for approval. All smaller items will be taken care of and you will be notified. Our contractors also know to report if repairs are due to tenant negligence.
Q: What comes out of the tenants’ security deposit? Who holds onto the security deposit while the tenant is in place?
A: Normal wear and tear and home maintenance are charged to the owner. Tenant damages or neglect will be charged to the tenant per applicable law. We will forward you the tenants’ deposit once they move into the property. We typically will hold the last month rent the tenant pays in order to reimburse them their deposit. That way you won’t need to mail the deposit back to us.
Q: Do you need a copy of my homeowners insurance?
A: Yes, we will need a copy of your landlord policy on the property. We also require that you name Feel Good Property Management as additional insured so we will automatically receive your insurance updates.
Q: What do Owners provide to FGPM when we start doing business?
A: After a property management agreement is signed, owners will need to provide the following items.
- – Smoke and carbon detectors per Feel Good policy and law.
- – 3 copies of each door key (2 for tenants, 1 for FGPM).
- – 2 copies of each mailbox key (1 for tenants, 1 for FGPM).
- – HOA rules and regulations, CC&Rs, and any other documentation related to HOA (if applicable).
We suggest that you install the detectors and make key copies yourself at your own convenience (please go to a lock smith, NOT Home Depot or Lowes).
If you would prefer FGPM to provide these services, details on the costs are here.
- – 1 SD in each bedroom
- – 1 SD in each floor of general living areas (near sleeping quarters if applicable)
- – 1 CMD on each floor of general living areas (ideally in between / near sleeping areas)
Here is a good FGPM blog article about smoke / carbon detectors. It provides details such as where to place them on the wall / ceiling.
- – Non-repeating maintenance items, such as a leak, electrical work, etc.
- – Monthly gardener bills if you use FGPM’s preferred vendors.
Please note that paying for recurring bills for other services such as pools, pest control, HOAs, etc. is not included in our 7% PM fee. If this service is desired, FGPM will consider payment of these bills for an additional 2% per month.
FGPM does not offer the payment of mortgages, insurance, and property taxes.
Q: What other up front costs may arise that an owner will pay for?
A: Owners need to provide or pay for keys upfront (details here). Owner will allow and pay for FGPM to coordinate changing locks between each new tenant. Owner shall provide / pay for Federally Mandated 10-year tamper free smoke detectors, and necessary carbon monoxide detectors that are required by Federal Law. Owner shall pay for all repairs that are required for habitability prior to, and during tenancy.
We encourage owners to install detectors and make key copies if they are able. If the owner requests FGPM to do smoke / carbon detectors or copy keys, FGPM charges:
- – For smoke and carbon detectors, we charge $20 for each detector plus $15 for labor for each installation. Minimum labor charge of $60.
- – For key copies, we charge $15 per key (includes key and labor). Minimum charge of $50.
We reserve the right to change pricing in the future.
Q: Who pays for consumable / recurring item costs, such as fridge filters, vent filters, sprinkler heads?
A: Tenants are responsible for recurring (consumable item) costs such as fridge filters, vent filters, bathroom curtains / rods, etc. From an owners perspective, changing filters can be advantageous to maintaining your appliances, so owners can pay for parts and installation if desired.
- – If there is a gardener on the property, owners are responsible for replacing sprinklers (unless it is clear tenant damage).
- – If there is no gardener on the property, tenants are responsible replacing sprinklers.
Q: Who pays for landscaping on trees and plants above 6 feet tall?
A: In order to reduce liability of Tenants trying to do gardening on ladders or in trees, Owner will pay for landscaping on all plants and trees higher than 6 feet off the ground. This includes situations where properties are advertised and leased with the clause “Tenant will maintain landscaping”.
Have more questions? Please contact us, we are more than happy to answer all your questions!