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How is rent collected?
All rent payments are collected by Flat Fee Landlord every month. As long as we are able to get the tenant’s rent payment, we disburse your rental funds by the 8th business day.
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Where does a security deposit go?
The tenant’s security deposit is put in an escrow account. By law, this account has to be separate from any other funds. The security deposit is held until the tenant moves out. At the point of move out, the security deposit must be refunded within 30 days, except for any damages that are noted by the landlord or property manager.
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What is a maintenance reserve?
We require $500 as a maintenance reserve to go towards any repair work needed on the property that you would be responsible for.
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How do you communicate about repairs needed on my property?
When we agree to work together, you will consent to any non-emergency repairs that cost up to $350. If work needs to be done that exceeds that amount, we will get your approval before initiating any of those repairs. You’ll also get an email alert any time we create a repair ticket for work at your property. We call this our Real-Time Alert.
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Can I request that certain vendors be used?
Of course. We can use any of your preferred vendors if you provide their contact information. We also maintain a highly qualified list of preferred vendors who provide discounts to us any time work is needed. Those discounts are given directly to you. There is never a markup for repair work.
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Which repairs am I responsible for?
Property owners are responsible for paying the cost of any normal wear and tear. Damage caused by the tenants will be charged to the tenants, according to the lease. We also include a repair deductible in the lease, which the tenant is responsible for paying.
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How do you handle late or missing rent payments?
Our process is consistent and effective. We notify the tenant of their breach of contract and try to communicate with the tenant to get rent paid and the situation worked out. If we do not get the late rent, we file the appropriate paperwork in the courts to get a hearing and if necessary, a judgment and eviction. You will be kept up to date as the situation progresses and we take care of the problem.
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Can Flat Fee Landlord find me a tenant?
Of course. Our tenant placement services include advertising the property, scheduling showings, applicant screening and a full background check on tenants. Our eviction rate is presently lower than 2% on the tenants we place, and most of our properties spend less than 25 days on the market.
