FAQs
Here is a list of our most frequently asked questions from landlords and tenants.
12 Years In Business
500 Units Under Management
90% Multi-Family
Frequently Asked Questions
Operations
Who’s on your team?
We use a hybrid tech-focused approach. Our core operations staff are centrally located and consist of a property manager, operations manager, leasing coordinator, maintenance & scheduling coordinator, and maintenance tech’s. We contract lawn care/snow removal, skilled trades, unskilled labor, bookkeeping, accounting, and legal services.
What markets do you offer services in?
We currently operate in the 11-county Central Ohio market with expanding services to the Cincinnati and Dayton markets.
What types of properties do you manage?
We currently manage mixed portfolios of SFR and multifamily, multifamily apartments, commercial/retail space, and mixed use- apartments over retail.
Do you have a unit minimum for new clients?
We specialize in multifamily, apartment, and portfolio management and require new clients to have a minimum of 4-units. There may be flexibility with this requirement- please ask.
Are there areas where you do not manage?
Yes, there are locations we simply do not work in. We will be up front about this if we do not manage in a location where you own or are buying property.
How much of your time is allocated to property management?
100%.
Are you able to help with the acquisition or sale of a property?
If you need help acquiring or repositioning a property or executing a 1031 Exchange, we can certainly assist. We frequently help clients move to better asset classes or scale to larger properties. Keep in mind if you were referred from a real estate agent we partner with, we will not compete with them on any real estate sale related activities.
What are your hours of operation?
7am-7pm M-F, 8am-5pm Sat/Sun, 24hr answering services.
How do you handle bookkeeping?
We have an independent and impartial contract firm that provides all bookkeeping services.
Do you have relationships with other vendors and contractors?
Yes. We have a list of preferred vendors. Typically, vendors are only used for skilled services like HVAC, electrical, plumbing, or specialty services like tree care or demo/cleanouts.
What are the terms of your management agreement?
Some of the terms are very specific to the property, condition, and needed stabilization. There will be alterations to the contract based on those factors.
Can I cancel anytime?
Yes, we have a 30-day cancellation requirement, but you can cancel at any time without penalty.
Fees
What are your rates?
Typically, between 5.5%-7.5% for apartments with over 4-units and 8%-9% for properties with 4-units or less. We incorporate incentive-based options, so rates may start higher for un-stabilized properties and level off once operations are under control. We also consider occupancy and will self-impose a reduced rate if we can’t get units turned/occupied quickly.
What is included in the basic rate?
- Comprehensive asset and property management
- Administrative work
- Bookkeeping and complete financial management
- Most bill pay services
- Routine on-site time
- Income/expense review
- Reporting
- Appliance and mechanical systems inventory
- Meter reading
- Client calls
- Managing insurance claims
- Tenant communication
- Coordinating skilled trades
- Property tax appeals
- Insurance reviews
- Handling code/zoning violations
What is not included in the basic rate?
Maintenance/ repairs, materials, leasing and legal fees.
Do you charge for leasing units?
Do you have additional markups?
1% markup on outside billing; for example, if we pay your utility bills, we add a flat 1% for managing the payment process (everything happens in the same system and if this markup is applied, it’s disclosed in full transparency).
5% Scope of Work markup…for renovation projects over $3,500 there is a fee based on total cost, which includes, drafting the scope, creating line-item pricing, managing estimates, hiring skilled trades, and effectively managing the entire project start to finish…all money, materials, and people)
Are there fees for onboarding or setup?
Possibly. This depends on the availability of information, condition of the property, and needed stability. If your property has only paper leases and has no record of any mechanical systems, there will likely be a fee for onboarding….if it’s running like a finely tuned machine, there will not be a fee. This can be agreed to before signing a contract
Maintenance and renovations
What is your maintenance rate?
What is the owner approval level for maintenance/repairs?
This depends on the property, but usually repairs over $400 require owner approval.
How do tenants make maintenance requests?
All maintenance requests are made online in the resident portal. All residents/tenants are required to create a detailed work order with images when making a request.
How do owners request maintenance?
Owners can make requests directly through the owner portal.
What is your turnaround time for maintenance tickets?
Our goal is to have all priority maintenance requests completed within 24hrs and routine requests completed within 72hrs.
Do you offer preventive maintenance options?
Yes. Owners can elect to include routine maintenance and inspections such as:
- Gutter cleaning
- HVAC tune up
- Annual comprehensive inspection
- Annual life-safety inspection
Do you offer construction/renovation services?
Yes. We can handle most all cosmetic renovations in-house and have preferred vendors and contractors for all skilled services or technical work required.
Leasing
How do you advertise vacancies?
We advertise across 6-7 major paid and unpaid sites (Zillow/Trulia/Hot Pads, Apartments.com, Zumper, Lovely, ApartmentList.com, and Dwellsy) and we syndicate to around a dozen more, as well as list on MLS. Most units are also marketed on Affordablehousing.com, The Ohio Housing Locator, and promoted to the public housing authorities on various platforms. Our listings are staged, photographed, marketing materials assembled and posted to all sites and social channels.
What is your tenant screening process?
We use a comprehensive application, supplemental section 8 survey, national criminal background and eviction search, credit report check, landlord verification, employment verification, and reference check.
What are your standard lease terms?
What are your deposit requirements?
Almost all leases require a standard deposit equal to one month’s rent.
Who holds deposits?
In most cases we hold deposits in a special broker account. Owners do have the option of holding security deposits as well.
Do you offer deposit alternatives?
We offer $0 move in options if tenants elect to use our partner, Rhino. Rhino offers deposit insurance that substitutes the need for a traditional deposit.
What are your basic applicant requirements to be considered for a unit?
Applicants must make 3x the income of the rental rate, have no felonies or pattern of misdemeanors, and have a clean eviction. Sex offenders are automatically disqualified. Tenants must be of good character and make it through a screening interview.
How do you determine market rent?
Rents are determined by internal and external market research, experience in the local market, networking with local brokers, agents, and property managers, and some experimentation at initial advertisement.
Owners
Do owners have individual bank accounts?
It depends on the size of your property. We use a trust accounting system for properties under 15-units, and an individual business checking account for larger properties. This is something we will address during onboarding.
How do you ensure owner funds are monitored and balances are accurate?
Our accounting firm performs weekly reconciliations and monthly audits referred to as Monthly Trust Reconciliation Reports (MTRR).
How do you handle client communication?
Owners have several traditional methods available to communicate, including, call, text and email. We also offer owner communication and requests directly in the owner portal. Owners can make requests, assign responsibility and due dates, as well as monitor progress and outcomes.
Do you offer quarterly calls?
Yes, as part of the onboarding and intake process, we set a calendar date for a recurring quarterly call to cover key property metrics, review cost saving opportunities, and any open items owners want to cover.
When are owner draws issued?
How are draws handled/processed?
Owner draws are processed via EFT to the client’s preferred checking account. We also offer a paper check payment option.
Do you have “office hours” for clients to call in?
Yes, we time block a set period each day for office hours.
What kind of turnaround times should I expect on inquiries?
Our goal is to have all owner requests and inquiries recorded and follow-up on within 2hrs. All non-urgent requests will be processed in less than 24hrs.
Can I submit requests for maintenance or repairs directly?
Yes- owners can submit requests directly though the owner portal.
Will I have a dashboard or portal?
Yes, all property records are available through an online platform and owners have 24/7 access with a secure login.
What property management software do you use?
We use Buildium. It’s the leading software in the industry. We also maintain a proprietary database for tracking additional details in aggregate and performing additional analysis.
Is there an app?
Yes, there is an app as well as a full desktop version for owners and tenants.
Do you offer any training on your system?
Yes, we do an orientation screen share as part of the onboarding process and offer a monthly webinar open to all clients to cover the basics of the system. Individual training is available upon owner requests, and we offer training materials and job aids on key workflows.
What kind of reports do I have access to?
You can draw down any array of 25+ reports that cover financials, operations, task performance, maintenance and repairs, as well as other topics. Reports can be customized based on owner needs and exported via pdf, Excel, or csv file.
Will you prepare and push reports to owners?
We issue a comprehensive owner statement at the time of the owner draw, once a month.
Are there limitations to when I can access information?
No, this system is real-time, up to date, and accessible 24hrs/day.
Working with
Housing Authorities
Do you accept Section 8 Vouchers?
Yes, it’s illegal not to. Recent guidance has stipulated that not accepting housing choice vouchers (Section 8) is source of income discrimination. Outside of the legal requirements to accept vouchers, we have a longstanding relationship with housing authorities and have years of experience working with Section 8 residents.
Do you have experience working with housing authorities?
Yes, we manage around 160 section 8 units and have formal relationships with the housing authorities across 5 counties. Collectively, we are one of the largest section 8 housing providers in the state.
Is there any risk to renting to a Section 8 tenant?
Generally not. There is no difference between voucher tenants and private pay tenants when it comes to the application, background, credit and eviction process. This population does require more flexibility in some areas like income requirements.
Are there drawbacks to renting to Section 8 tenants?
The Housing Quality Standards (HQS) are sometimes problematic with older properties or properties that have not been updated. This may require additional out-of-pocket costs to remedy deficiencies. Another issue to be prepared for is the length of time the entire lease up process takes.
Utilities
Who is responsible for utilities?
Our goal is to pass all costs to tenants, including utilities. How this happens is different in every county, city, building type, and location. If properties are sub-metered, tenants are typically billed for actual utility use. For properties that are not sub-metered, tenants are billed on a flat rate basis and a “true-up” is performed quarterly against the actual utility bill.
Are tenants required to have utilities in their name prior to move-in?
In almost every case, yes. In some municipalities it is not possible to have all utilities established prior to move in and a 10-day grace period is afforded, followed by a daily penalty for not establishing services.
Do you offer sub-metering services?
No directly, but we do have several vendors that offer sub-metering. We do manage meter reading and billing.
How do you address utility non-payment?
Utilities are treated the same as rent payment. Non-payment will result in a 3-day notice to vacate followed by and eviction if they are not paid for any reason.
Other FAQ’s
Do you work with Impact, Community Action, or other social service agencies?
If the process has already been initiated and we have a commitment to pay letter, yes. In general, accepting a stop-gap payment will not eliminate the root cause of the problem and parting ways with tenants that cannot pay is the best outcome.
Do you offer tenant incentive programs?
Yes. We give owners the option of providing an annual gift card for 100% rent payment throughout the year. We also provide on-the-fly or as-needed incentives like good neighbor next door crime prevention and monitoring.
How do you communicate with tenants?
90% of communication is initiated or completed in the property management software through text or email. Tenants can engage us at any time or make an incoming request from any connected device.
Do you provide pest control?
For apartment buildings this is a semi-annual scheduled service that is embedded in the lease as a small per-unit charge. As a general policy, our units do not come with pests and we do not pay for pest control.
Do you help with tax appeals?
Yes. We can assist with filing the required forms with the county and managing the appeal process.
Do you allow pets?
In almost all cases, yes. For service animals or emotional support animals, this is a requirement. The local legal authorities have been quite clear about ADA regulations and what is permitted. We do require a pet registration, attestation to vaccination records, an additional non-refundable deposit, monthly fees, and accountability for any damages caused by the animal.
How are evictions handled?
We engage in a multiple step process that includes respectfully requesting we part ways, offering cash for keys, and as a last resort, when all else has failed, we move to evict through the legal process.
What is the cost of an eviction?
This is case-specific, but usually around $300-$500.
Are owners permitted to use their own attorney?
Absolutely. We do have preferred attorney’s but there is no requirement to use our legal counsel.
Do you offer Master Planning services?
Yes. Planning for capital expenditures and doing proactive replacement of components that have reached end of useful life is the best way to operate your property smoothly. We will do a full assessment of every major system during the intake and annual inspection process and track it accordingly. Improvements are placed on a schedule and carried out according to the plan.
Do you offer property inspections?
Yes. We perform an intake inspection at onboarding and offer several inspection options that can be completed throughout the year. We do routine on-site visits and will record any issues that may need to be addressed. We recommend an annual comprehensive inspection for any long-term tenants to assess living standards and unit condition.
Our Philosophy
As a company, our guiding principle has always been to help investors realize the full potential of their investments. Long-term success comes from consistent actions over long periods of time…focusing on fundamentals. At the end of the day, our job is to house people and keep them housed and stable for the long-term. As investors, we can realize the full potential of our work in the form of profits. Our approach to generating profit is simple; 1) keep units filled at market rates 2) eliminate reactive management by implementing proven systems 3) knowing where all the money is, all the time. Our promise is to provide the highest level of customer service and transparency in the industry.
