Owner FAQs
Answers to your frequently asked questions
-
Are property managers required to be licensed in the state of Michigan?
Yes, Michigan requires anyone who provides property management services for others to be licensed. This required 90 hours of education, passing an extensive exam, and ongoing annual educational requirements. -
Can you put the money directly into my account?
Yes, we pay owners by ACH by the 10th of the month. -
Do I get to see the lease or sign it?
Yes, you are able to see our standard lease and also tell us what terms you allow in advance. However, to make sure we can keep things moving forward with tenants in the timely manner we don’t have owners review or sign the lease each time. -
Do you sell real estate too?
Yes, we have extensive experience with listing and selling of real estate and can help you expand your portfolio of properties, help you navigate selling a property that is tenant occupied, or even help you buy or sell a personal residence. -
How is rent collection handled?
Rent is collected from the tenants either online on our website, Venmo or Zelle. We make it easy for tenants to pay so that they are more likely to pay on time. -
How long of a lease do you sign?
We generally sign a 12 month lease and renew for 12 months. If your needs are different than that time frame just communicate that with us. -
How much security deposit do you charge the tenant?
By law we can only charge 1 ½ x what we charge for monthly rent, but we generally charge one month’s rent unless we are doing extra for a pet deposit. -
How soon can you start managing my property?
The transition period is fairly simple and we generally can start either immediately upon signing of the management agreement, or by the following month. -
What type of properties do you manage?
We focus primarily on single family homes but also manage small multi-family homes up to 50 units. -
What type of reports do I get and how often?
We send a report of income and expense per property every month with your payment and at year end for the preparation of your tax return. -
Who holds the tenant security deposit?
We have a separate account just for holding security deposits and hold them there.