Do You Have A Florida Real Estate License?
All Florida Coastal Jacksonville Realty property managers hold valid active Florida real estate licenses.
What Needs To Be Done To Prepare A Property To Rent?
The property should be in the best possible condition to attract a quality resident. Paint should be in good condition with touch up as needed. Neutral colors for walls and floors are best. Blinds or shades are ideal window coverings. The home should be very clean with everything in good working order and the yard should be neat and attractive.
How Do I Determine A Rental Rate?
The rental market determines the rental rate. If the rental rate is set too high, the home will stay vacant longer. If the rate is too low, return on your investment is not maximized. We will assist you with a rental market analysis.
How Do You Market The Property?
Successful marketing starts with great photos and a good write up that emphasizes the special features of your property. The property is advertised on 40+ web sites, MLS and our company web site. Yard signs are placed when allowed by the condo or homeowner’s association.
How Long Will It Take To Rent?
Location, price and time of year affect vacancy. On average in today’s market, it takes between three to five weeks to rent a home. Homes rent more slowly between Thanksgiving and New Year.
What Are The Policies Regarding Pets?
Statistics indicate that 75% of renters own pets. Restricting pets reduces the number of available qualified tenants. Pets are screened for breed, number and size. When pets are acceptable, we typically charge a $350 non – refundable one time pet fee which goes to the owner.
What About Smokers?
Smoking is not allowed at any of our properties. This does not significantly reduce the marketability of the property.
Is It Possible To Refuse To Rent To Families With Children?
According to federal, state, and local Fair Housing regulations, it is unlawful to discriminate against families with children in any way.
Is First And Last Month’s Rent As Well As A Security Deposit Collected Up Front?
The first month’s rent and a security deposit are collected up front. The security deposit is generally equal to one month’s rent. It is a financial stretch to ask prospective tenants even with good credit to provide the equivalent of three month’s rent upfront at a time when they are also looking at moving expenses. Besides, the last month’s rent can only be used for rent and cannot be used toward any damages or cleaning inadequacies.
What Is The Average Length Of Tenancy?
Our standard lease is for one year. Other agreements can be made when acceptable to all parties. At the end of the lease term, the owner can decide to renew with the tenant (if the tenant wishes to remain), terminate the lease with the tenant, or allow the tenant to remain month-to-month.
What Happens If The Rent Is Late?
The rent is due on the 1st of each month. Rent is late after the 4th. We are pro-active in contacting tenants and keeping owners informed in a late rent situation. Each situation is different and is handled on a case by case basis. We are experienced in handling evictions, if and when necessary.
When And How Does The Owner Get Paid?
Owner’s funds are usually distributed on the 8th of the month. If the 8th falls on a weekend or holiday, the distribution will be a day or two later. Owners can elect to be paid either by direct deposit or have a check mailed to them.
What Kind Of Accounting Documents Will You Provide Me?
You will be emailed a monthly statement of your account activity for the prior 30 days. You will also get a 1099 and a profit and loss statement at the end of the year. You will be given information about how to create an account on our web site so that you can log onto our web site at any time and see your accounts and any information related to your property. You will also be emailed a copy of the lease once it is signed.
Who Handles Emergencies?
We are on call 24 hours a day 365 days a year. We have an extensive network of vendors to handle any emergency regarding your property.
How Are Repairs Handled?
We hold $250 in the owner’s account as cash on hand to cover repair and maintenance costs. These funds belong to the owner. If during the month a repair must be done, the vendor is paid with monies from the fund. The fund will be replenished out of the next month’s rent proceeds to maintain the required $250 balance in the account. The property management team is responsible for approving all maintenance requests and will generally contact the owner in advance for approval for repairs in excess of $250. Sometimes a request falls into the category of a maintenance emergency. Emergency repairs are scheduled immediately and the owner notified at the first possible opportunity. Some maintenance requests can result in a rent abatement if not handled in a timely manner. The owner is notified immediately when there is a rent abatable maintenance issue.
Is There Any Mark-Up For Vendor Provided Services?
What Happens If The Resident Leaves Before The End Of The Lease?
Residents are responsible for paying the rent for the term of the lease and are not allowed to sub-let a property. If residents leave early, they will be charged for rent until the home is re-rented or their lease is up. We, on behalf of the owner, will do everything possible to re-rent the home as quickly as possible. The owner is not charged for new tenant placement or leasing when the current tenant leaves early.
How Is The Owner Protected If The Resident Damages The Property?
Residents with excellent credit and good references seldom cause significant damage. A refundable security deposit generally in the amount of one month’s rent is taken at move-in. It is usually sufficient to cover any move out inadequacies in cleaning or condition of the property. If the security deposit is not sufficient to cover the costs, the resident will be billed for the difference. If they do not pay, they will be reported to the credit bureau and turned over to a collection agency with the owners’ approval.
What Happens If I Do Not Continue Paying The Monthly Homeowners Association Dues?
Florida law allows managers of Homeowners Associations to collect rent directly from the tenants or management company when a property is rented and the owner is delinquent in paying the association dues. The Association can also discontinue access to the community facilities and /or disconnect utilities paid by the association.