The following are frequently asked questions that we receive from prospective owners. Due to the individuality of properties, this information should be considered only as a guide as specific properties may have differing criteria.
Why should I hire a professional property management company to manage my rental property?
Do you have the time or expertise needed for day-to-day management of your residential or commercial real estate investments? A professional property manager can help you make a positive difference in your investment success. A property management company can help you:
- Market your rental property to minimize vacancies and maximize income. (Property managers make their living because they know rental markets including what comparable properties are currently renting for, coupled with what potential renters are willing to pay for a rental property.)
- With the expertise to utilize marketing know-how to reach potential renters, as well as having the experience and resources necessary to weed out poor credit risks.
- Fill vacancies with the best possible tenants.
- Maintain and keep your rental property in good condition (Property managers regularly handle and coordinate routine repairs, as well as emergency repairs. They have the experience to avoid unnecessary repairs which saves you money).
- Track income and expenses to determine profitability.
- Negotiate rental agreements.
- Collect rent and track tenant deposits.
- Comply with federal, state and local laws.
- Respond to tenant requests and deal with tenant’s problems.
- And our fees are tax deductible.
What Type of rental properties do you manage?
Don Asher & Associates, Inc. is fully equipped to provide professional management services for all types of properties. Single-family homes, condominiums, and townhomes comprise the bulk of our residential portfolio but we also serve owners of apartment complexes of all sizes, duplexes, coops, government or bank owned properties, and virtually all other residential real estate. We also specialize in the management of commercial properties such as office buildings, shopping centers, and industrial/warehouse properties. We have the resources to serve you in the management of your investment property or properties.
What geographic areas do you handle?
We manage properties throughout all of Central Florida; Orange, Seminole, Osceola, Lake, Polk and parts of Volusia Counties.
Are other services available?
We provide “Home Watch” services for those owners who have a home that requires weekly, semi-weekly or monthly interior checks such as vacation homes, during extended travel periods, or a home you do not want to lease long term but keep maintained. We can custom tailor services to an owner’s particular need.
How much could my property rent for?
We do a detailed analysis of the rental market, factoring in the condition, location, and amenities of your property along with the current rental market. A thorough knowledge of the current market is needed to advise the correct price to quickly rent a property, achieving the maximum rental amount while minimizing the vacancy period. Don Asher will provide a FREE market analysis designed to produce these results. A vacant property cost you money!
Can you help me get my property ready for rent?
Yes, in all cases. Don Asher & Associates, Inc. maintains a list of approved vendors that perform all services generally needed to quickly and properly prepare a property for occupancy. We regularly work with these vendors, insuring quick and professional service at a fair price to the property owner. Painting, interior cleaning, carpet cleaning or repair/replacement, landscaping, and minor repairs are the most commonly needed services.
Who’s going to show my property and what are their hours?
We have 8 full time managers on staffs that are available to show properties. Once the property is listed in MLS, thousands of Licensed Real Estate agents in Central Florida have access to the listing and are a great additional source of activity. Our office is open 7 days a week, and an onsite person is available to speak with.
Do I pay a commission when my property is vacant?
Fees are not charged when your home is vacant between tenants or during rehabilitation.
Can you pay my monthly property bills for me?
We can pay your Mortgage, Insurance, Homeowner and/or Association fees, etc. as long as there is sufficient cash flow from the property to cover such expenses. We require advance funds for this purpose allowing prompt payment on your behalf. Don Asher & Associates does not charge additional fees for this service.
Where will my property be advertised?
Properties are marketed in various ways, depending on location and property type. All properties are featured on our website. We regularly monitor comparative activity on our website, and can immediately make adjustments if needed. In addition properties are listed in the appropriate Realtor Multiple Listing Service (MLS), and numerous other trending websites. A professional “For Rent” sign is placed in the front yard or window if permissible with the Association governing the community. Your Property Manager will advise you of marketing means and results for your property.
When and how do I receive my proceeds?
We typically send all of our payments to owners via ACH so the funds are deposited directly into your bank account without you incurring any charges. If you prefer an actual check, we can accommodate that as well Owners are routinely provided with their funds after rent has cleared the bank. We do NOT hold Owner funds in our account for weeks.
How do I see my account activity online?
Don Asher & Associates, Inc. offers online account access 24/7. With a simple log-in process, you can see virtually all the real time activity on your account. You are able to view what funds were received and on what date, and what was paid out and to whom. Invoices for work performed on your property are uploaded after payment allowing you to view the actual invoice from the vendor. You’re also able to go back and view and print prior documentation needed at the touch of a button.
How do tenants contact you for maintenance?
Residents may phone, fax, email or mail their requests to us, and they can also request maintenance online at our website. After we receive a repair request, we contact the tenant to determine the exact nature of the problem before sending a service technician. Most repairs are scheduled within one business day.
Can you be contacted late at night and during weekends?
Residents can contact us 24 hours a day 7 days a week to respond to emergencies. We will then talk with the resident to determine how to proceed. Comfort items such as air conditioning, no hot water or heat, receive the highest priority and are usually attended to the same or next business day. If the repair is considered an emergency, immediate steps are taken to protect life and property as appropriate.
How do you handle payment for maintenance, and how do I know what was done and by whom?
Payments to vendors are taken from owners available funds unless it is from a tenant’s abuse or neglect whereby we collect for the invoice from the tenants. Owners have a $300 minimum maintenance reserve to allow quick action in the event there is an emergency. On larger repairs where funds are required prior to work being done, owners are able to quickly send funds via an American bank account utilizing our online payment service. Invoices are available to view online within days of the bill being paid.
How do I contact my manager?
Our Property Managers realize the importance of communication and are best contacted via phone or email. All property managers have cell phones but on occasion are in the field with clients or customers preventing an immediate response. Our phone system provides direct numbers for our managers and allows you to be directly connected with a manager’s cell phone from their office extension if not available.
What happens if my tenant doesn’t pay?
Although research indicates that tenants are much more likely to pay rent when a professional management service is involved, there are times that a delinquency occurs. When a tenant becomes delinquent, your Property Manager will first contact the tenant and attempt to collect the past due rent. The property manager has several solutions they can institute before the next legal steps in the collection process are initiated. In the event that legal action is needed, we work with experienced real estate attorneys who all they can to expedite resolution.
What happens when my tenant is vacating?
The Tenant has written vacating procedure’s specifying their responsibilities prior to move-out. Florida Law governs many of the provisions, but ultimately the tenant is responsible for proper notice as well as returning the property in the condition it was upon rental, normal “wear and tear” notwithstanding. Upon receiving a notice to vacate from a tenant, the property owner is notified.
Will I have to hold the security deposit(s)?
Don Asher and Associates holds all security deposits in an escrow account and is the fiduciary under Florida Statutes. You are not charged any additional fees for this service.