OWNER
FREQUENTLY ASKED QUESTIONS
WHAT TYPE OF PROPERTIES DO YOU MANAGE? We manage single family homes, duplexes, tri-plexes, and small apartment complexes in Sacramento and outlying areas, including South Sacramento, Elk Grove, Downtown Sacramento, North Sacramento, Citrus Heights, Carmichael, Fair Oaks, Rancho Cordova, Roseville, Rockin, Lincoln, Antelope, Rio Linda and Elverta.
HOW MUCH DO YOU CHARGE FOR PROPERTY MANAGEMENT? We offer several types of programs including percentage, flat fee, and per-door fee for multiple units. Please contact us for the particulars of each program. We would be happy to speak to you in detail about what each program has to offer you.
HOW DO YOU DETERMINE THE RENTAL RATE? We do market surveys, check local advertisements for similar properties, do online rental searches, and call other available rentals in the area to check their prices. We always advise you of what we think the rental amount should be. However, we always listen to you, and we will price it at your requested amount. If you price your rental above the current going rate, you risk having your property stay on the market longer waiting for a qualified tenant. If you price it lower than market value, you are losing income. We want all our clients to get the best rental amount that they can receive on their property, so we always inform you of our professional opinion on the current market rates.
WHAT HAPPENS WHEN YOU RECEIVE A THIRTY DAY NOTICE TO VACATE? First, we contact you by phone and written correspondence telling you of the upcoming vacancy. Then, we schedule a pre-move out inspection with the tenant. We will also place a for rent sign on the property, and post the property on our website as "Coming Soon". After the inspection, we contact you with any items we think may need further attention and get bids, if necessary.
HOW DO YOU ADVERTISE MY PROPERTY? We advertise in The Sacramento Bee, on our website, and signs on your property. The print advertising is only done once a week to keep your costs down. In print advertising, we always try and group other properties together to share the cost of the ad with other owners. We have a contract with The Sacramento Bee, so we get discounted rates. We never mark-up our prices; instead you receive the discount. We also have an updated vacancy spreadsheet that is available at our office or by fax and we offer cash incentives to our tenants for referring qualified prospective tenants to your properties.
HOW DO YOU SCREEN PROSPECTIVE TENANTS? We know that approving a tenant to move into your property is a very important duty. We take this duty very seriously. We do a credit check, check for previous evictions and also do a background check. We also require that the prospective tenants provide copies of their current pay stubs, their California drivers license or California identification card, and a copy of their Social Security card. We verify current employment, current and past tenancy and require that we meet each prospective tenant in person before approving the application. By carefully screening prospective tenants, we strive to keep your property rented to well qualified tenants and lessen the chance of a costly eviction.
DO YOU GUARANTEE TENANTS? When we rent-up your property, we guarantee that if a tenant breaks their lease within six months and moves out, we will re-rent the property at no extra charge to you, with the exception of advertising costs. Our lease requirements are a minimum of six months or twelve months. By requiring a lease, we try and cut down on the times your property can be vacant.
DO YOU KEEP THE SECURITY DEPOSIT? Yes. In order to have the funds available immediately after the tenant moves out, we require that all properties keep a minimum balance equal to the security deposit amount.
WHAT HAPPENS IF YOU HAVE TO EVICT A TENANT? On the rare occasion that we must start eviction proceedings, we employ the services of an attorney who specializes in eviction and tenant law. He aggressively fights to have the property returned to our possession as quickly as possible, and tries to obtain any funds that the tenant may have access to. The cost of the eviction is paid by the owner of the property. Currently the cost is about $700, including court costs, attorney fees and service of notices and legal lock outs. Along with the attorney, we go to any court proceedings and represent your interests. This service is part of your property management agreement with us, so we do not ask for any additional money for this service.
DO YOU SEND MONTHLY STATEMENTS? Yes. Your monthly statement is sent out no later than the 10th of each month. This comprehensive statement details all the financial activity of your property for the month as well as year to date. Also included in the statement are copies of any bills paid on your behalf during the month. Periodically, we enclose flyer's with information about new products or specials offered by Thorne Realty Group and their affiliates.
WHEN SHOULD I RECEIVE MY CHECK? If the tenant pays their rent on time, your check is sent out with your statement no later than the 10th of each month. If a tenant does not pay by the 5th of the month, we contact the tenant and also serve a three day pay or quit notice. When the rent is received, we will send out a revised statement and your check.
DO YOU SEND YEAR END REPORTS? Yes. In January we send out a year end financial report for all your properties individually and a consolidated report if you have multiple properties. You will also receive a 1099 form that reports all income you have received during the year.