Prospective Owners
FAQ
How do you determine the correct rental price?
Determining the correct rental price is critical. You do not want to leave money on the table nor overprice the property so that it sits vacant. Using in-depth research, our own intuition and knowledge of the local market, we will arrive at the optimal rental price range. Initially we will market the property at a price a little above the optimal, to take advantage of the robust local market. In the long run, it is in your best interest to objectively price your property. If someone recommends a rental price that sounds to good to be true, it is.
How long will it take Haas Properties to lease my property?
We will find a qualified tenant very quickly. We begin marketing a property 30 to 45 days prior to it becoming vacant. All of our properties are priced correctly and are in top-notch condition, on average they are leased within 2 to 3 weeks of a tenant's notice to vacate. Vacancies are expensive for both of us. Our goal has always been no vacancies.
What happens if the tenant does not pay their rent?
Rent is due on or before the first; it is late on the second. If not paid by the first, we take action. We send a friendly reminder asking the tenant to pay rent or vacate. If they have not paid the rent by the fifth, we file a dispossessory the following day at the County Magistrate Court. A hearing is held within 10 days and possession is given within 20 days from the date filed. There is no cost to the owner for this service.
How are maintenance request handled and who pays for the repairs?
Maintenance request are submitted in writing and are responded to with great dispatch. Emergency request are handled 24 hours/day 7 days/week. Our motto, "Do it right and do it right now". We have long standing relationships with highly competent, licensed and insured contractors. Their work is impeccable and their rates are competitive. They will not perform unauthorized work requested by the tenant. We will gladly use a contractor that you choose provided they meet with our licensing and insurance requirements. The tenant will pay for damages they cause. Except in the case of emergencies no major repairs are authorized without first obtaining three independent bids. Due to the volume of our business, we are able to get exceptional rates from our contractors. In order to pass these savings along to our owners and to avoid a conflict of interest, we do not have an in house maintenance program nor do we charge an up-charge on any maintenance or repair items. The invoice we receive is the invoice you pay.
How often will you inspect the property?
Complete interior and exterior inspections are made when we accept a property for management, when we move a new tenant into the property, prior to the sixth month of the current lease, at move out and upon owner request. It is critical that an interim inspection be done preferably three to six months into a lease. If there are going to be problems this will head them off early. Owners can receive a comprehensive written report following this inspection. If tenants are not taking proper care of the property they are notified in writing to correct the problem. We follow up with a second inspection ten days after to verify compliance.
How am I protected if the tenant damages the property?
In most instances the security deposit taken at move-in is more than adequate to handle the minor damages left by tenants. Because we place only highly qualified tenants, seldom do we find any damage and almost never in excess of the security deposit. The horror stories you hear about tenants trashing a property are generally a direct result of a tenant being placed by an inexperienced landlord.
What if the tenant breaks their lease?
The tenant is responsible for the rent for the term of the lease. If a tenant chooses to leave prior to the termination date, they must give 60 day written notice, pay all monies due through the termination date and pay the owner a sum equal to two months rent as liquidated damages. In most cases we will have a new tenant before the end of sixty days and you will have no interruption in cash flow.
How much will your services cost?
Our fee structure is simple. We charge one months rent to place a tenant, eight percent of each month's rent to manage the unit, and $250 to renew a lease. We do not charge an upfront fee to get started, we do not charge a management fee while the property is vacant, and we do not collect a fee unless you collect rent. We guarantee our tenants and we guarantee your satisfaction. If there is a delay in cash flow due to none payment, you receive the late fee. If a tenant breaks their lease within the first six months, you will not be charged to re-lease the property. If you are not satisfied with our services for any reason we will terminate our agreement at no additional cost to you.
