FAQ for Tampa Bay Landlords

FREQUENTLY ASKED QUESTIONS

Answers to questions about your rental home, your tenant, working with your property manager and more. Select any category and see many questions we have answered from Landlords like you since 1986. 

We have grouped the questions and answers into categories for easier searching and your convenience. 

 

Frequently Asked Questions for Landlords

Financial

How do I get paid my rental income?

Rent is due on the 1st of the month and late on the 4th. Once rental payments are posted, we settle any outstanding debts from your account that are payable to vendors, utilities, maintenance providers, etc… After all expenses and income have been posted to your account, we deposit your rental proceeds into your designated bank account via ACH transfer. Payments are made on or before the 15th of each month. Non-payment of rent leads to a swift eviction of the tenant. You can avoid the legal costs of an eviction by taking advantage of our Eviction Protection Program (EPP). Read about protecting your bottom line with our EPP program
Topics Financial
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Accounting – How do you manage my accounts and financial reporting?

We offer an in-house accountant, state of the art financial database system and rigorous systems to ensure accurate portfolio management and timely accounting of your funds.  We carefully track and document all expenses and maintenance transactions involving your property.  We pay your rent proceeds via ACH transfer directly to your bank account, saving you time and money.  Paper checks are available upon request.  Whether it is a single unit or a large portfolio of homes, we will treat you with the same care and high level of detailed reporting each month.  We provide you an IRS 1099-MISC form each year along with a summary of your account activity.

Topics Financial
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Fees – Do you charge a Property Management setup fee?

No.  We do not charge a setup fee for new property managed accounts.   This is included in our standard Property Management service we provide Tampa Bay area Landlords.  You will need to add a minimum of $300 to fund your Owner’s repair reserve account before we assume active management of the property.

Topics Financial
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Fees – How much do you charge to manage my rental property?

Our prices are extremely competitive and are based on the level of service requested by each Landlord.  We offer comprehensive property management services to Tampa Bay area rental home owners; it’s all we do.  This is not a side business for us and that makes a large difference in the end product our Landlords receive.   Before you decide to hire a manager, do yourself a favor and be sure to contact us for a free property management review.  The review is a friendly conversation that only takes a few minutes to discuss the rental home owner’s needs.  We will present options and make recommendations based on the goals of the owner.  We have many ways to help save money and give Landlords peace of mind with the management of their property and tenants.

Make no mistake:  Hiring an expert Property Manager will save you money!

Red Adair quotation: If you think it is expensive to hire a professional wait until you hire an amateur

Topics Financial
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Owner Communication – How will you notify me of maintenance expenses?

Although routine, many expenses are unexpected.  Maintenance items will occur periodically.  In the interest of efficiency, we order all minor maintenance immediately and inform our owners of the service call via email.  Often, we do not know the exact charge for a repair until we receive the invoice from the vendor.  All vendors are expected to communicate, in advance, any repairs that exceed $300.  Below that value, we await their invoice for a specific dollar amount.  We review all maintenance invoices to assure the price of the repair is in line with the nature of the service request.   We want you to be informed of any situations, financial or maintenance, which impact your bottom line.  All financial information is uploaded to your account on the Owners Portal.

Topics Financial
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Repairs – Why do you require reserve funds for my rental property?

Our vendors are paid upon completion of the work they perform making it essential to maintain a ready reserve of funds available to pay for basic service calls.  We will communicate with you and request additional funds in the event of a larger repair.  We understand the unique nature and needs of each rental property vary depending on factors such as the age of the home, any regularly scheduled services (landscaping, pest control, etc…) and the type of property.  Our basic requirement is a minimum of $300 repair escrow funds per property.

Topics Financial
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ABOUT THIS PAGE

 Our Landlords FAQ page has been thoughtfully designed to simplify browsing for the questions and answers that are most relevant to each landlord. We are constantly adding new questions and answers as we receive them from investment property owners just like you. If you have any suggestions to improve your experience on our FAQ page, please [contact us] and we will promptly respond.


If you have questions about being a Landlord or managing your rental home, please Contact Us for a conversation or just a quick response.  We also have a convenient form that allows you to submit your own question for an answer.