What type of properties do you lease/manage?
PMS specializes in residential property management and leasing which includes single family homes, townhomes, condominiums and 3-4 unit apartment buildings.
Who determines the amount of monthly rent?
The monthly rent will be determined by the Owner. However, PMS can assist in determining an appropriate monthly rental rate based on market rental rates for comparable properties in your area.
What methods do you use to advertise the property?
We utilize several FREE advertising avenues to market your home including internet ads, newspaper ads and a For Rent Sign on your property. The cost for advertising with fee-based newspapers, websites, etc. will be the responsibility of the Owner.
How do you select qualified tenants?
Qualified tenants are selected through our thorough application and screening process. Employment and income are verified, current and prior landlords are contacted, as well as checking credit worthiness, conducting a criminal background check and nationwide eviction search to determine the qualifications of each applicant.
If my home is vacant, do I still pay the monthly management fee?
No! What makes PMS stand out from some of our competitors is that we do not collect a fee until your home is leased! So, during the leasing process, we don't get paid unless you do!
MANAGEMENT
How do you ensure the tenant takes good care of my property?
PMS will conduct periodic home inspections to ensure the property is being well maintained and will address any issues at that time should they arise.
What happens if a tenant is late or does not pay their rent?
PMS thoroughly pre-screens all applicants and works hard to select a qualified tenant thereby decreasing the likelihood of having a delinquent tenant. However, in the unlikely event that a tenant is late or does not pay, PMS will take all actions applicable under law to receive payment of the rent as soon as possible or begin eviction procedures if necessary.
How are maintenance requests handled?
After a tenant contacts PMS regarding a maintenance/repair issue, PMS will contact a licensed and insured contractor (who has been pre-approved by the Owner) and coordinate an appointment time with the tenant. However, if the Owner has a contractor that they would prefer to use, PMS will contact the preferred contractor accordingly.
Who pays for maintenance repairs?
The Owner is responsible for all maintenance and repair costs. Minor repair costs will be deducted from the Owner’s operating costs account. Any repairs exceeding $200 will require the approval of the Owner prior to beginning repair work.
Can monthly expenses be paid by PMS?
Yes. If the Owner elects to, PMS 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 the Owner.
What are the fees for your services?
PMS’ fees are as follows:
Leasing – Fifty percent (50%) of the first full month’s rent plus advertising costs when signing a leasing a management agreement or one hundred (100%) of the first full month's rent for leasing services only.
Lease renewal – Twenty-five percent (25%) of first month’s rent should tenant renew their current lease.
Management – Seven percent (7%) of the monthly rent, minimum of $75 per month.
How long is your management agreement?
Our management agreement is for a 12 month period.
ACCOUNTING
How often will I receive statements?
PMS will provide monthly accounting statements including copies of any repair invoices and receipts. Owners will also receive yearly statements summarizing all activity for the year for their property.
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