At HomeMarke we know that a good property management firm can easily become one of your greatest assets. HomeMarke agents understand that you need a company that is reliable and competent enough to make critical decisions on your behalf. While hiring a property management company may not be the most important decision that you will ever make, it is, however, one of the most important decisions when it comes to your investment portfolio.
How do I know if I need a property manager? Well, ask yourself these simple questions:
- Can I visit the property frequently enough?
- Do I want to be bothered with tenants, leases, maintenance and rent collection?
- Do I have a lot of experience with maintenance and repairs?
- Do I have the tools to get my unit rented quickly?
- Do I want to deal with the accounting and record keeping?
- Am I willing to be on call 24/7/365?
- Am I willing to confront tenants and enact evictions?
- Do I understand Florida Landlord/Tenant Laws?
- Is managing the property the best use of my time?
If you answered “NO” to the majority of the questions above then you need HomeMarke!
Before you sign up with any property management comany we know that you will do your homework and may have a lot of questions. HomeMarke is eager to answer them… right here, right now.
[toggle title=”Does HomeMarke just handle leasing or tenant placement?”]
Yes! You may have the time and ability to manage your own rental property but would still appreciate help finding quality tenants. Our Lease-Only service is a perfect solution if you are that type of owner. We aggressively market your property, thoroughly screen each applicant, perform extensive credit and background checks, then present the application to you for consideration. Once a qualified tenant is found, we prepare all lease documents using a standard, supreme court approved lease. Finally, we will coordinate the move-in and see that all parties receive proper copies of the lease agreement and addendum’s. Don’t commit the number one error of most do-it-yourself landlords by putting tenants into your property without having them properly screened and checked out. Let us show you how much easier it is to let us do the work for you[/toggle]
[toggle title=”How will HomeMarke evaluate my property and determine the rental rate?”]
HomeMarkes services differ according to the marketing and/or management package that you select. HomeMarke’s full service Advantage Package offers the following:
- HomeMarke will perform detailed documentation of the interior and exterior, including photos
- HomeMarke will offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing good Return on Investment.
- HomeMarke will gather rental data from the MLS to help determine the optimal rental rate.
- HomeMarke will discuss the pros and cons of different policies such as accepting pets, allowing smoking etc.
- HomeMarke will install a marketing and/or maintenance lock box when necessary.[/toggle]
[toggle title=”How will HomeMarke market my property for rent?”]
HomeMarke’s full service Advantage Package offers the following:
- HomeMarke will help prepare the property for rent by having it professionally cleaned, if necessary, as well as have the landscpaing manicured to increase curb appeal.
- HomeMarke will create ads tailored to the property, will utilize both paid and free rental listing websites, install signage, print fliers and list the property in the MLS.
- HomeMarke will work with other Realtors and external leasing agents to find a tenant.
- Field calls from prospects for questions and viewings
- Meet prospective tenants for showings.
- Provide prospective tenants with rental applications that are legally compliant.[/toggle]
[toggle title=”How will HomeMarke screen and select tenants for my property?”]
- Our application process is integrated with TransUnion SmartMove. We screen all tenants over the age of 18 for identity verification, criminal history, sex offendor database, terrorist watch list, credit analysis, employment verification, bankruptcy & eviction and rental history.
- You have the ability of setting a pre-determined FICO score for tenants or we utilize the median average of which the property is in.
- HomeMarke adheres to all laws set forth by the Tenant/Landlord Act and the Fair Housing Act.
- HomeMarke will not discrimante based on Race or Color, National Origin, Religion, Sex, Handicap, Familial Status or Sexual Orientation.[/toggle]
[toggle title=”Can I choose to disallow pets, smokers, large families, etc?”]
HomeMarke fully complies with the Fair Housing Act. This means that you can not choose to disallow anyone that is a member of a protected class under the act. You can choose to disallow pets; but, you cannot deny a service animal. As a general rule, HomeMarke does not permit smoking in our managed properties.
The number of occupants must be in compliance with HUD standards and guidelines for the applied for unit. The standards are as follows:
- No more than 2 persons may occupy a 1-bedroom dwelling
- No more than 4 persons may occupy a 2-bedroom dwelling
- No more than 6 persons may occupy a 3-bedroom dwelling
- No more than 8 persons may occupy a 4-bedroom dwelling
If you have additional questions on the specifics of the Fair Housing Act, please see our fair housing page.[/toggle]
[toggle title=”What’s involved before letting a tenant move in?”]
HomeMarke will execute either a supreme court lease or attorney prepared lease agreement with addendums. Our custom, attorney prepared lease agreements are between HomeMarke and the tenant. You will never have to be burdened with a lease signing. We review the entire lease, guidelines and maintenance tasks with the tenant(s). We perform a detailed move in inspection with tenant and have the tenant(s) sign a report verifying the condition of the property prior to move-in. The keys to the property are not delivered until we have collected the first months rent, security deposit and any associated fees. [/toggle]
[toggle title=”How will HomeMarke collect rent and when will I get paid?”]
Rent is due on the first of each month; however, the tenant has five (5) days of grace. We encourage tenants to pay in one of two ways:
- Mail payment to :HomeMarke, PO BOX 442017, Jacksonville, Florida 32222
- Or, to utilize our direct deposit program
Currently, we are not accepting online rental payments. Tenants are welcome to hand deliver payments anytime. Portfolio disbersements are made to owners between the 20th and 25th, or sooner based on rent collection. [/toggle]
[toggle title=”What happens if a tenant is late on paying rent?”]
Rent is late starting on the 6th and a late fee will be assessed. However, as long as rent is postmarked on or before the 5th we will not assign a late fee. If tenants coordinate late or parital payments in advance, we use our discretion on late fees. All late fees are retained by HomeMarke. If rent is not received by the 6th day then we call and e-mail the tenant to collect. If rent is not collected by the 10th then we post a 3 day notice to quit.[/toggle]
[toggle title=”What happens if a tenant needs to be evicted?”]
The owner must grant an additional power of authority to HomeMarke before any eviction proceedings may begin and prior to any eviction complaint to be filed to the court. Once provided, we will file the necessary paperwork and represent you in court for the eviction proceedings and will coordinate with law enforcement for extraction if necessary.
HomeMarke shall not and will not use self-help to take possession of any property by forcibly removing any tenant, excluding any tenant from entry to the property, changing of locks, or cause the interruption of utilities.
HomeMarke does not offer eviction insurance. When tenants are properly screened, and the property manager is both helpful and knowledgeable toward tenants and owners, evictions are very rare.[/toggle]
[toggle title=”Will HomeMarke offer legal advise when I need it?”]
No. HomeMarke does not practice law. If you need an attorney, we will refer you to our retained attorney. HomeMarke does take every effort to understand and abide by the latest local, state and federal legislation that apply to renting and maintaining rental properties.[/toggle]
[toggle title=”When will HomeMarke perform property inspections?”]
HomeMarke will perform periodic inspections (Inside and outside) looking for repair needs, safety hazards, code violations, lease violations, etc. Owners are notified of any adverse conditions immediately. In addition, HomeMarke will prepare a full annual report on the condition of the property. [/toggle]
[toggle title=”What type of financial reporting should I expect from HomeMarke?”]
- HomeMarke provides easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses.
- HomeMarke provides an annual report in the form of a Schedule E, structured for tax purposes, as well as the 1099 tax document.
- Your online portal will contain PDF documents of all historical records such as statements, invoices, leases and your property management agreement. [/toggle]
[toggle title=”Will HomeMarke make mortgage, insurance and HOA payments for me?”]
Yes. HomeMarke will make mortgage, insurance and HOA payments. We do, however, charge a processing fee of $3.95 per check.[/toggle]
[toggle title=”How will HomeMarke handle maintenance, repairs and remodeling?”]
- HomeMarke does not have an in-house maintenance crew.
- We utilize local, bonded and insured contractors to perform all services.
- You can select which preventative, routine maintenance procedures you would like for us to automatically perform.
- We do offer 24 hour emergency services.
- From time to time we will make recommendations on projects and improvements that will both maximize rental income as well as increase property value.
- For any expense that is over the designated allowance we will provide preliminary cost estimates.
- For large projects we will obtain multiple independent bids for the work.
- Although HomeMarke can manage most repairs and improvements, we cannot personally replace the function of a licensed, general contractor.[/toggle]
[toggle title=”What will HomeMarke do when a tenant is ready to move out?”]
- HomeMarke tenants are offered the opportunity to meet with the property manager two weeks prior to move-out so that the manager can identify any concerns that may affect the return of deposit.
- Tenants are provided, both in their lease and prior to move-out, with specific requirements that to be completed at move-out.
- The HomeMarke agent will inspect the property and fill out a report on the property’s condition when the tenant moves out.
- We will provide the tenant with a copy as well as estimated damages, if any, within 10 days.
- We will return the balance of the security deposit to the tenant and forward any portion retained of the tenant deposit to the owner or hold in owner reserves for repairs.
- HomeMarke will order any needed repairs or upgrades, re-key the locks and put the property back on the market for rent.[/toggle]
[toggle title=”Do I need to provide insurnace and indemnify HomeMarke and its agents?”]
Yes. HomeMarke request that you add our company as an agent to your home-owners liability insurance policy. Furhtermore, the property ownder must agree to indemnify and hold HomeMarke harmless from any claims, debts, demands, suits, costs or charges, including necessary attorney’s fees in connection with or arising from the management advice as it pertains to the managed property and from any liability for injury suffered on or about the manged property by any person, whomever.[/toggle]
[toggle title=”What is a reserve account and how much is reserved?”]
HomeMarke shall retain a minimum $150.00 in your portfolio that is designated to be utilized towards the repair and maintenance expenditures of the manged property as well as service and/or management fees. Typically these funds are withled from the first month’s rent unless repairs/imporvements are required at management start-up. [/toggle]
[toggle title=”What are the fees associated with HomeMarke’s property management services?”]
HomeMarkes property management rates are identified on our rate sheet page. In addition we have the following standard fees:
- NOTICE POSTING FEE. $35 will be charged for each door postings or personally hand delivered notice(s). Typically these fees are collected from the tenant or withheld from the tenants deposit upon move-out.
- HUD INSPECTION FEE. For any owner that wishes to participate in the local HUD/SECTION 8 housing opportunities, An owner or representative attendance is required for the full inspection by the Department of HUD. HomeMarke charges a fee of $125 to attend the HUD/SECTION 8 housing inspection.
- GENERAL AND ROUTINE INSPECTION FEE. A $35 Inspection may be charged for monthly or quarterly inspections and repair/improvement inspections. Any visits made to the property that does not include tenant procurement or lease adhereance may be subject to inspection fees. Inspection fees are notably charged on vacant properties whereas the company is not receiving a monthly management fee and whereby the owners have not elected to subscribe to routine maintenance services such as lawn maintenance, pest control, annual pressure washing and etc.
- MONTH TO MONTH FEE. A $35 month to month fee will be passed on to the owner in the event the owner does not wish to renew an annual lease with a tenant. In the event the owner extends an annual lease renewal offering but, the tenant wishes to remain month to month; then, this fee will be passed on the tenant.
- EVICTION FEES. These fees are based on the current, professional market rate.[/toggle]
[toggle title=”Does HomeMarke charge a management fee on vacant properties?”]
No. HomeMarke does not charge a monthly management fee on a vacant property. We collect only when the property is rented or when performing inspections for maintenance/improvements on vacant properties. [/toggle]
[toggle title=”How do I know your property manager won’t spend my money on large repairs without my approval?”]
This is a legitimate fear and we promise in writing not to do that!
- You will always receive a notification of a maintenance request via e-mail regardless of the repair cost. Vendors are only authorized for repairs up to $150. Anything over that requires approval from the property manager and your property manager will not authorize anything over $300. If we think a repair might exceed $300, we will let you know what is happening, what we think should be done, and what the estimated cost might be.
- Sometimes expenses such as a replacing a bad water heater, a roof leak that needs patching or repair, or emergency A/C and furnace repairs are unavoidable. In those cases where
- the health or safety of a tenant is an issue, or
- in instances where there is only one option to consider; or
- the property will incur damage if immediate action is not taken,
- the property manager will initiate the repair work, even if it is higher that the $300 limit, and then let you know of the situation and what we are doing about it. Mainly, we don’t think important repairs should be delayed while we try to contact you for permission to do the obvious.[/toggle]