How long would you take to post the 3-days notice to pay or vacate?
We usually post this around 5 days from the end of the grace period for the rental payment.
Why the eviction of the tenant is taking more than the time you told me?
The eviction of a tenant is a legal process, hence the result and time of conclusion of this process could change depending on the attorney we use, tenant’s appeal, sheriff’s timeframe to service the tenants and court timeframes among other factors.
If the tenant is not making his rental payments, can we get him out of the property and how long would it take?
The process of getting a tenant out of your property is called Eviction. For this to happen certain conditions need to apply and one of them is not paying rent. This process could take between 45 days to 60 days since the tenant is serviced with a document called 3-days notice to pay or vacate.
Why are you sending me less money than usual?
This is because some extras expenses were accrued during the month. This includes but is not limited to Property Insurance, Property Taxes, Special Assessments for your Homeowners Association, Increase in you Monthly Homeowners Association Maintenance, Repairs, and Improvements.
Why I do not receive any payments during the months of August, September and November?
Property Taxes are due in November of each year, so we try to collect this money during these 3 months. Any overage left after the payment of the property taxes is accumulated and sent to you along the payment corresponding to December.
How long does it take to my payment once you initiate this with the bank?
It usually takes from 1 to 2 business days depending of the time this is initiated.
Why is my rental income get deposited one month later after the rent due date?
Most of the times Rent is collected within the first 5 days of the month. Some tenants prefer to pay after this 5-days period adding a late fee to the rent payment. During the month expenses are generated and these are paid from the money collected from the rent for this month. Therefore, we wait to the end of the month to consolidate your account. To this we add approximately 3 to 5 days to initiate your payment. This is because we have to consolidate your account against the bank statement which usually is available the first of the month ahead.
How long is the grace period to pay rent?
This is usually 5 days.
Why did I not receive any payment for the first month of the rent?
Most of the times we use the first month rent to pay por the real estate commission that is due for finding a tenant.
If you manage my property for me, will you charge a real estate commission every time that the existing tenant renews the lease?
This will depend on the type of negotiation we enter into to manage your property. In most of the cases we do not charge for the lease renewals, this is an added value we give to our clients.
Who does pay for the eviction process?
The expenses obtained as a result of the process of eviction are the landlord’s responsibility.
How can I recuperate the costs incurred from the eviction process?
In most of the cases these expenses could be recuperated from the security deposit. if not, you have the option to sue the tenant for these expenses.
Do you do any type of checking with prospective tenants?
Yes we do. We run credit report and background check. We also check public records to find past evictions. In addition, we contact previous landlords and analyze the tenant’s finances to make sure that his/her can meet the rental obligation.
What happens if the tenant vandalize my property?
Unfortunately, we can not control these things from happening. Once in a while there will be a tenant the may decide to do this. Depending on the case we may notify the police and press charges against the tenants and/or you may sue the the tenants for these damages.
Why me as the landlord have to pay for painting my property once the tenant vacates this?
This is a very subjective topic since it will vary from case to case. You do not have to pay for this if the condition of the paint is beyond the normal wear and tear considered for the time the tenant occupied the property.
Why do you not increase the rent for the current tenants?
Every renewal period we do an exhaustive analysis of rental prices around the area. If there is an increase on these prices we compare the increment in rent to the monthly rental divided by 12 months (real estate commission divided by 12) and try to make a fair judgement between increasing the rental; hence loosing the tenant and spending time looking for another qualified tenant paying real estate commission or simply renewing the tenant at the same price or with a very reasonable increase that would save the lost time, payment of real estate commission and move-out repairs.