Frequently Asked Question
WHEN DO YOU MAIL THE OWNERS CHECKS?
Management sends out owners checks on or before the 15th of the month as long at the tenant pays the rent on time. Sometimes tenants are late with their payments. It is always good for owners to keep their mortgage payments paid at least one month in advance in the event that a tenant does not pay on time or there is an eviction. Management offers two methods of payment which are mailing ($25 monthly fee) OR electronic deposits into owners account (no monthly fee).
CAN YOU PUT THE MONEY STRAIGHT INTO MY BANK ACCOUNT?
Yes, we offer electronic deposit.
DO YOU PAY ALL THE BILLS?
We will pay as many bills as you want us to handle and are comfortable with; except the mortgage payment.
HOW SOON CAN YOU START MANAGING MY PROPERTY?
If you are not currently involved with a licensed management firm, we can start immediately. If you have a manager currently you will need to discontinue their services, according to your agreement, before we would be able to become involved and manage the property for you.
DO I GET A WRITTEN STATEMENT?
YES! Every month it is emailed to you on or before the 15th. It is computer generated, not hand written, and not only gives you over all income and expenses but details every transaction for you. We also include all receipts from vendors for work completed.
HOW MUCH MONEY DO YOU KEEP IN THE OWNERS TRUST ACCOUNT FOR REPAIRS?
We require a minimum of $250.00 per property. Many owners keep much, much more…. we’re flexible. If repairs must wait because of insufficient funds, then the tenants will suffer. In the long run an owner’s profits may suffer because tenants will move when repairs are not completed in a timely manner.
DO YOU SELL REAL ESTATE TOO?
Yes, When the time comes most of our homeowners will request that we either find them new tenants or list their property for sale. Many of our homeowner’s request that we find them additional investment properties. Since we have long-term relationships with many of our homeowners, they are very comfortable with our recommendations.
HOW MUCH DO YOU CHARGE TO GET A NEW TENANT?
Leasing fee is charged whenever a new tenant is acquired. Fees may vary including advertising costs and or MLS Broker fees that refers a tenant.
HOW DO I GET STARTED WITH YOU. WHAT’S THE FIRST STEP?
You can give us a call or email us with the particulars of the subject property (rental). That’s it. It will take us a few minutes to put your packet together. When you get the packet, answer the questions regarding the property and fill in the other highlighted areas and send the paperwork back to Landbank. We’ll get started right away.
DO YOU PICK UP THE TENANTS RENT PAYMENTS AT THE PROPERTY?
No. Tenants can mail their payment to our management office. Tenants can also go online to make their payment. This is explained to all tenants when they sign a lease at our management office. In addition, we have a drop box at our office available 24/7. We have never had a problem with tenants getting their payments into the office.
