FREQUENTLY ASKED QUESTIONS
If I have my property managed by iRealty Pro Management, will you save me money? Yes. In most cases we have found that our fees are more than offset by our ability to obtain higher rents, less delinquency, and faster turn-around of vacating tenants. We also maintain a pool of qualified repair people who offer us the best price available due to the large volume of business we can offer them.
Are your management fees competitive? Yes. We offer several service packages to meet your specific needs and our rates are very competitive.
Do I lose control of my property once you start to manage it? No. We work for you and you set the parameters not defined by law.
Will I know what is going on with my property? Yes. You have 24/7 access to your information online. Furthermore, we communicate regularly with you throughout our contract. We will contact you to discuss repairs and notify you of any tenant requests to vacate. And we will keep you aware of other issues that may arise throughout the life of the contract.
Do you screen all applicants that want to rent my property? Yes. Our application is designed to generate complete information from each prospective tenant. We process all applications and verify information on each application. In general, an applicant must have good rental history (not from friends or relatives), have three (3) times the rent rate in verifiable household income, and possess an acceptable credit history.
Do you handle problems late at night? Yes. Tenants are given our number when they move in and in the case of an emergency they are directed to call our mobile phones. We will talk with the tenant to determine how best to proceed. Many times we can solve the problem over the phone.
Can I still use my favorite plumber, AC Company or handyman? Yes. We will gladly contact the companies or individual(s) you specify as long as they are actually licensed, insured and in the business of performing the required work.
Do you pay the bills for me? Yes. We will gladly pay expenses and repairs for you. There must, of course, be sufficient cash flow from the property to cover such expenses and we will require a reserve fund for this purpose.
Do you mail my monthly statement and check as soon as the tenant pays the rent? No. Even though rents are due on the 1st, many times tenants pay late. To allow all tenants’ rent payments to clear the bank, owners’ monthly statements and proceeds are processed on or around the 15th of each month.
Do you advertise vacancies? Yes. We start marketing the vacancy as soon as we receive notice from the tenant of their intention to move. We then advertise on the Internet. We also receive referrals from current and former tenants and owners and from other agents with whom we network.
Do you charge the tenant a security deposit? What about a pet fee? Yes. Our policy is that the security deposit is at least 1-½ times the first month’s rent. Pets are not allowed without your permission. When pets are allowed we charge an additional pet fee of $300 or more and verify the pet’s acceptability in person.
What happens to the tenant’s security deposit? Do you send it to me? No. In compliance with California Law, the tenant’s security deposit is kept in an escrow account. The Walk Thru Checklist documents the condition of your property. Any damage expenses beyond normal wear are deducted from the security deposit along with any other money owned and the balance is returned to the tenant within 21 days of move out.
Do you insure my property when you manage it? No. You maintain your own insurance coverage.
Do you manage only residential properties? Yes, we specialize in managing residential properties. We manage Single Family Homes, Town Homes, Condominiums, Duplex, Triplex, Fourplex Units, and Small to Mid-size Apartment Buildings. As a California residential sales and property management brokerage firm, we are able to provide you both the day-to-day management of your asset and most importantly, the unique perspective of the value of your investment against other like assets. With this unique perspective, we are able to provide you guidance on how to enhance your assets value in the current marketplace and provide you up-to-date real estate market conditions that help you maximize the return on your investment.
Does your management agreement give you exclusive right to sell my property? No. We can sell your property if you would like us to, but it is not a requirement of our management contract.
Can you start managing my properties today? Yes. We can start the process immediately. Contact us today to set up a no obligation consultation to discuss your property