Have you ever wondered what is all involved with being a landlord or hiring a property manager?
Here are some common property management FAQ's we get from our owners.
How do I know if my property is rental ready?
AspirePeak Properties has a rental ready checklist for all our owners to review when considering renting out their properties. The easiest answer is your property is rental ready once all repairs/maintenance has been completed on the property. When we say repairs we mean, all items are working properly and there are no damages in the home. When we say maintenance this is your annual items such as furnace cleaned etc.
How do I know what my property will rent for?
Book an appointment with AspirePeak Properties for a FREE rental evaluation of your property and we will provide an estimate rental range based off comparable properties in your area.
How long does it take to find a tenant?
Just like selling your home this will range based on time of year and if your property is priced at market value BUT with great photos, floorplans, virtual tours and our team of experienced property managers. Our average property rents within 30 - 60 days.
Do I need special insurance once the property is rented?
Yes, making sure your home owner's insurance is switched over to landlord insurance is an important step. Now not all policies are created equal for coverages. That is why we provide all our clients an optional landlord insurance program for their rental properties to ensure proper coverage is in place for any incident that is specific to rentals and tenants. See our landlord insurance page for more details.
Do you do inspections on our property?
Absolutely! Move In & Out Inspections are completed with multiple photos and a ton of notes. It takes our team a min of 1 hour to complete each move in inspection. Periodic Inspections are also implemented on each of our rentals around the midpoint of the tenants lease.
How do you screen tenants? Do I get final approval?
Our in-depth screening process starts with pre-qualification of all rental inquires. If tenants match the property, a showing is booked to meet them in person and any canine pets. If the tenant wishes to proceed with renting the property an online application is sent to each tenant. Our application then scores the tenant based off the information and documents provided. If an application is good, our team will come to you with tenant demographics and any feedback for final approval.
How do you manage repairs on the property?
Our extensive list of vetted & experienced contractors help us ensure your maintenance item is taken care of in a timely fashion at a reasonable price. Our owner portal also allows for live updates to be seen 24/7 as soon as they become available. To see what is all involved with our owner portal, check out our video demo on our social media.
How are damages handled if any during move out?
In our experience, most of the time the only thing really required at move out is cleaning. That is the most common item that tenants either miss doing a good job or request to have it deducted off their security deposit as they don't have time to clean. If there are any other damages that aren't normal wear & tear, our handyman team is experienced and capable of handling them all once a move out has been completed.
What happens if a tenant needs to break lease?
Not to worry, our fees included 2 advertising cycle's a year so if a work opportunity or family matter comes up where the tenant has to break lease half way through, you don't pay anything extra. The tenant is then responsible for rent until a new tenant can be found.
What happens if we have to evict a tenant?
Evictions can be stressful for all parties involved, however we are here to help make the process as easy and stress-free as possible. If our team is unable to get a hold of the tenant for late payment to make payment plans approved by the owner, a 14 day notices gets posted on the door. Should additional steps be required such as notice of entry, or court scheduling date. We will be here to help guide you through that process.
How do I hire AspirePeak Properties to manage my property?
Hiring us is easy in 3 simple steps!
1st Step: AspirePeak provides a rental evaluation of the property after viewing it.
2nd Step: Owner provides the following documents to sign a management agreement (title, photo ID, Insurance, Bylaws(if applicable))
3rd Step: A management agreement is signed and keys are handed over to us to start showing the property.
How & When do I get paid each month?
Rent is collected on the 1st of the month by pre-authorized payment from the tenant. Around the 5th of the month funds will clear.
Your Owner payment's get sent out electronically to you around the 10th business day of the month.