Owners Lease and Monthy Properties—FAQs

FAQs: Property Owners – Lease and Monthly Properties

What is the Activation Fee?

The $250 Activation Fee covers the cost of the initial consultation and evaluation of your property. It pays for our initial inspection of the property, comparable searches, travel time, photos, entering your property in our computer system, preparing and processing the necessary paperwork, tenant showings and copying of keys.

It also covers limited advertising, such as adding it to our online advertising sites, sign placement, and the benefit of office marketing in yellow pages, area chambers of commerce, as well as real estate referrals and direct mailing campaigns.

This is a one-time, non-refundable fee due upon signing your management contract with us.

What is the Owner Reserve Fund?

This money is used to keep the property in good working order. It is used for such things as paying utilities, yard and home maintenance or repairs. This money is due upon signing your management contract with us and is returned in full when your contract is terminated.

Funds used from this reserve will be reimbursed from the monthly rent before checks are sent. You will receive an itemized accounting when this money is used.

Will you manage my property if it is “For Sale”?

Absolutely. As a division of Gorge Property Real Estate, we are able to both manage and market your property smoothly.  We also work with other local realtors if you have an existing relationship with someone in particular.

Will you make my mortgage payment?

Under the Full Management contact, we can pay your mortgage, property taxes and home insurance. If this is desired, we will require a deposit in the amount equal to one month’s payments upon signing your contract with us.

We are happy to other payments for you as well, such as for grounds care, utilities or routine maintenance.

How often will you inspect my property?

We will complete drive by inspections of the exterior of the home periodically, at which time we check for overall cleanliness and upkeep of the landscape. We also complete a detailed annual property inspection to check for overall condition of the home and tenant compliance. Inspections are conducted before and after each tenancy.

Who performs maintenance and repairs?

We have our own maintenance vehicle and employ a general maintenance staff for minor maintenance issues. If it is necessary to use a commercial vendor, we make sure to only work with licensed and insured contractors and contract for the most competitive commercial rates available.

Will you call me when my house needs repairs?

We will contact you for your approval on all repairs over $300, unless agreed otherwise in your management contact. The exception is in a situation where delay could cause damage to the property or harm to the tenant.

Repairs under $300 will be paid from the owner reserve fund and reimbursed from the next monthly rent.

What if there is an emergency?

Tenants have 24 hour access to our staff in the event of a maintenance emergency. We have a general maintenance staff that can complete the work or determine if services of an outside vendor are needed. All necessary steps will be taken to protect and preserve your property. If a major repair is necessary, our office will notify you within 24 hours.

How do you screen tenants?

We use a national tenant screening service to obtain credit reports, criminal background checks, and other public records searches. We verify employment, income and rental history. We also perform a personal interview with each applicant.

What kind of deposits do you collect?

We collect first month’s rent, security/pet deposits and any applicable pro-rated rent. Security deposits generally equal one and one half month’s rent and pet fees are flexible, depending on the number and type of pets allowed.

What is done with the security deposits?

All deposits are held in a separate client trust account in a federally insured financial institution.

We do not forward any deposits to the property owner. We are responsible for the return of the deposit to the tenant upon their departure. If anything should happen to the owner while having a security deposit in their possession, we may not be able to recover it to return to the tenant as provided by law.

Who gets the tenant late fees?

We collect late fees and retain 50% of all late fees and the remainder is disbursed to owner.

How is rent set for my property?

Rates are based on the rent for comparable properties – meaning similar size and location. Rates are not set to totaling your mortgage payment, property taxes, insurance costs and your expenses. While this may be ideal, keep in mind the rent your property generates may not equal this amount.

What if I want non-smokers in my property?

Non-smoking is strongly recommended. It is difficult to re-rent your home to a non-smoker once it has been smoked in.

What about pets?

The pet policy is up to you. When able, we conduct pet interviews with each pet to determine and verify size, breed and temperament of the animal. Since pets do present an additional risk, we collect a pet deposit from the tenant before move-in. Two pets maximum are allowed. Additional pets will require prior owner permission and an additional deposit.

When do I get paid?

All rent is due by the first of each month and late by the seventh. We disburse checks and monthly statements to property owners by the 25th of each month.

Under the Full Management program, we can deposit funds directly into a local bank if you prefer. Simply provide us with the necessary bank information.

Do I have any other responsibilities as the owner of the property?

The owner needs to provide our office with an inventory of items left in the home and property. They must also be willing to maintain the property inside and out while it is vacant, unless otherwise agreed upon. It would also be wise to set aside a percentage each month for anticipated future maintenance such as painting, new flooring, re-roofing, etc.

How long will it take to rent my property?

It will take time to locate a highly qualified tenant. The time will depend on the location, size and condition of the property as well as the time of year it is available for rent.

How will my rental compete with others you manage?

No two houses are exactly alike. In the same way homes differ, so do the needs of each tenant. We try to match the tenant’s needs to properties available.

Who will clean my property? Who pays for it?

We will be happy to arrange for cleaning of your home. We have put much time into finding cleaners that are reliable, honest and hardworking. The cost to arrange and inspect the cleaning is covered in the monthly management fee. The cost of the actual cleaning is deducted from the owner reserve fund.

Tenants are responsible for cleaning the premises and yard maintenance during the duration of occupancy.

Are there risks to renting my home?

No business endeavor is without risk. Major damage or the need for eviction are always possibilities. However, with proper management, the risk in the rental business is low.

What happens if the tenant leaves before the end of their lease?

Oregon and Washington Landlord Tenant Law states that at the time of vacancy, the property must be made available for re-lease. A tenant who leaves before the expiration of the lease is responsible to continue paying the rent until it is re-leased or the lease expires. They are also required to maintain the landscaping or pay to have it maintained. The tenant may also be responsible for other costs associated with re-leasing the property.

How do I get started in renting my home?

Please call our office if you have any questions not answered here. We will be happy to schedule an appointment to meet with you personally.

We look forward to meeting with you and representing you and your property.

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