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We typically charge at minimum one times the rent amount if their credit rating is good. If there credit rating is less than favorable, we will charge two times the rent.
Yes, but this is a very standard industry practice as there are more activities and time involved with renewing a tenant. We generally conduct an annual inspection with the tenant, and analyze if the tenant is worthy of a renewal opportunity. We also conduct research on other rental websites to analyze rate comparables, and then look for possible rent increase possibilities. We then have attorney prepared leases made and ready for execution.
The team here at Florida Team Realty offer an A-Z list of management services cover virtually all of your needs. And if there’s something we don’t do, we will certainly consider as a one-off or exception. However, if we had to put a list together of our more prominent services, they would include:
Full-service office with accounting, sales and marketing, and finance departments
Direct deposit and auto debiting
Extensive Tenant screening and selection
Repairs and maintenance
Attorney Created Leases
Sales and Marketing
Semi-annual and special inspections
Monthly reporting and annual statements
Of everything we do as a property management company, these next steps are the most critical to ensure the foundation of your next rental sets the stage for the entire lease period. We process all of our applications within Florida Team Realty walls, and in conjunction with various HOA’s that may have their own application process.
Our applicants are graded very stringently on several factors. The first factor is their credit history which run through all 3 credit reporting services. This information we get tells us the applicant’s current and past history of financial obligations, monthly debt, credit score, and shows their previous resident addresses. The second factor is a criminal and evictions background check that reviews history on a national level, that also cross-references the sexual offender databases. The third factor is an employment/income check where the applicant needs to earn at least 3 times the monthly rent in gross income to qualify for rental, where we validate with their most recent paystubs, or copies of tax returns if independent contractor.
Florida Team Realty also allows pets based on the approval of the owners wishes, but we highly encourage our owners to accept pets because most people in America own a pet. Even more so, there are more pets than children, and about 90% of pet owners consider their pets to be a member of the family. As you can see, if we restrict applicants based on pets, we highly restrict the ability to rent your home. However, we manage the process and minimize your risk by limiting the breed, number and size of the pets. We also use a special pet addendum for additional protection.
Florida Team Realty pays their owners on the 15th of each month. However, from time to time, due to holidays and weekends, there could be a delay. In those specific instances, Florida Team Realty would work to pay earlier, if possible. Also, if the tenant pays the rent late, that rent would be paid by the 15th of the following month.
Overall, the tenants are responsible for utilities from the date of the commencement of the lease to the termination of the lease. Prior to move in and upon the tenant’s moving out, the owner is responsible for keeping the utilities on, but we are able to assist, if needed.
Yes. Whether there is 1 or 100 owners, per Florida laws, each owners name and signature are required on the PMA authorizes our property management company to place a tenant and manage on behalf of all ownership of that property.
Yes. The typical escrow amount is $500, and here’s why. First and foremost, this is not a fee. These are funds we reserve on the owner’s behalf to basically do anything that needs to be done or handled at your property where we as the management company need resources to get completed. To better explain, per Florida law, we are not permitted to use the tenant’s security deposit to pay for any maintenance issues at the property. That is the tenant’s money we hold in escrow until it is lawfully and properly disbursed to a party. This is the purpose of the escrow account; to be a resource to handle small expenditures.
At Florida Team Realty, we require a 30-day notice prior to the end of the end of the lease. Here’s why: First, many tenants do not know more than 30 days out if they have decided to leave or renew their lease. Usually they know for sure 30 days from the end of their lease. Second, 30 days is usually enough time for us to market your home (On our dime!) to get a good volume of inquiries, run applications and background checks, and approve. The goal is to go from one tenant to the next with as little time as necessary passing. The amount of time that passes is usually a direct relation to the condition that the home was left in on move-out, which is usually a one-to-two week time frame that includes carpet cleaning, a full house clean, and any other minor repairs/fixes due to normal wear and tear.
As your property management company, we want to protect your best interest with a balance. We as your property management representative need the ability to do our job without having to delay a repair for the small day-to-day things. In addition to you, the owner, not wanting to be bothered with details a property management company should be equipped to handle, our tenants would expect a fast turnaround on repairs for the small things that a property management company should be entrusted with. By the same token, when large ticket issues arise, usually over $500, like an HVAC issue or a roof issue, we will contact you and discuss the circumstances. Our goal is not necessarily getting it done fast, but getting it done as fast as possible while getting it done right……as if we owned the home, personally.