Owner Frequently Asked Questions
Why use a property manager?
Our services take the headaches out of owning a rental property. We are set up to maintain your records and have procedures and systems in place that streamline all aspects of renting and maintaining your property, such as working with tenants, vendors, repairmen, neighbors, and government agencies.
What are the management fees?
We charge 10% of all collected rents. That’s it, no set up fees and no additional fees for repairs, etc.
Will you notify me of repairs?
We usually notify the owners if the repairs will be more than $500 per occurrence unless there is an emergency and your property could be damaged. You can view repair costs at any time in your owner portal.
How much do you charge for advertising?
Nothing! We advertise across many web sites and media. Prospective tenants can find your property on our web site Zillow, Hotpads, Truila, and many more!
How do you screen applicants?
We run credit checks, call both residence and employment references. We make sure that the applicant has a good ratio between expenses and income and can pay the move in costs. We require that applicants show reserves.
How much is the security deposit?
The security deposit equals one month’s rent. If the situation requires more insurance then we will collect 2 month’s rent for the security deposit (subject to legal limits). The security deposit is held in our Trust Account. We prefer to hold the security deposit in our Trust Account in case the owner should not be able to send the security deposit within the 21 day refund period.
How do you determine the rent for my property?
We do a market comparative analysis; comparing your property to others in similar size, location, and condition.
Do you allow tenants to smoke inside and what about pets?
All our properties are non-smoking. It’s the owner’s decision to allow pets; what kind, size and number.
When do you send out the owner’s check?
We mail or direct deposit the owner’s check with monthly statements and any invoices by the last business of the month.
What else do I need to do?
We require each property owner to add Bluhm & Company as an additional insured on the homeowner’s insurance policy and to send us a copy of the coverage. You will need a “rental dwelling policy.”