Property Management FAQ

Common questions asked by landlords

 
What questions should I ask a potential property management company?

Peel back the layer of services past the initial question of “what are your rates?” As with any service from airlines to restaurants you get what you pay for. If something seems to be too good of a deal there are usually hidden charges, which are frustrating after you are already roped in. 8z Rentals is transparent with our fees and we don’t charge any markups on maintenance. Many property management companies attract clients with lower base management fees but charge additional amounts for services that normally would be included in management duties, such as performing periodic property inspections, handling utility transfers, reconciling security deposits, scheduling turnover work, etc. Many companies also charge a mark up on maintenance performed by in-house or 3rd party vendors. We do not make any profit from performing repairs–you will always be charged exactly what the vendor charges and will receive a copy of this invoice. or performing any of our normal management activities. Learn more about our property management services.

Why shouldn’t I just use a generic / online lease agreement?

The lease agreement you sign with a tenant is the #1 most important thing in property management.

Attorneys and judges always ask to see the lease and refer to the written terms when settling a dispute. Without a well drafted lease both landlords and residents are at peril as to how someone else will interpret the issue in dispute. 8z Rentals spends thousands of dollars updating our lease every year to keep up with regulations and legislation, and to add language to cover our landlords for any new scenarios we encounter throughout the year. Our lease agreement has been tested and proven. It is clearly written and fair to both parties which makes it more efficient for everyone to sign. When leases are unevenly written in favor of the landlord, they tend not to hold up as well in court. It has taken years to develop our lease and we feel it is one of the best in the industry.

(How do you know) how much rent I can get for my home or condo?

It boils down to experience. Our professionals sign over 500+ leases annually. With experience comes expertise in the local rental markets. They research and know the short and long-term trends affecting the local rental markets. We will give you our expert opinion about your rental property and discuss your rental property goals with you. We want to establish good communication and define your expectations prior to listing your property for rent.

What are your property management (and leasing success fees)?

Our fees are very competitive. We feel that 8z Rentals can outperform most property management agencies on service and performance at a very reasonable price. There are discount rental brokers and management companies. If you do go this route, be sure to ask what services are included in their fees, what services are at an additional cost, and what services are not offered. For a long-term reliable property management firm there is nobody who can compete with 8z Rental on the services we provide at a competitive price.

Do I have to use 8z Rentals for both Leasing and Management?

No, we offer both services but it’s up to you which services you want us to handle. Every owner has their own unique situation and we want to tailor our services to your needs.

Common questions asked by tenants

 
What sort of scams should I be aware of when searching online like Craigslist for a rental?

Scams keep getting more sophisticated every year but somehow the basic ones keep working.

If it seems like a rental is priced lower than other similar rental properties in the area, do a web search of the property address and “rent” and confirm that it is not listed on other sites for a different amount. Many scammers will copy an ad description and photos (even those with professional watermarks on them) and repost an identical ad for a lower amount than the landlord is listing it for. When you contact the person on the listing, they will ask you to pay a holding deposit, application fees, and sometimes even the first month’s rent to secure your place in line, telling you they will refund the money if you decide not to move forward with signing a lease after seeing the house in person. After you transfer the money, they remove the add and stop responding to any messages. If you have only communicated by phone, text, and email and have not had any in-person interaction, it is extremely difficult to get your money back.

In today’s world many of the tenants only deal with reputable management firms with brick and mortar offices to avoid scams. If you do choose to rent through an independent owner, it’s best to flip the tables and do a little homework on your landlord prior to handing any funds over to them.

Other Tips to Protect Yourself While Searching for a Rental:

• Be wary of any landlord who tells you that you can go by the property whenever you’d like for a showing rather than setting a specific time. If you arrive at the property and the landlord or leasing agent is not there to meet you, knock on the door and speak to the current tenant if possible. Ask them to verify the landlord information, and ask what process they went through when applying for the property and signing a lease.
• If you see a listing with a property management company’s name on it, make sure that you only submit an application and make payments directly to the company. Call the number on the company website and confirm that they are currently marketing the property and what the advertised rental price is.
• Most reputable management companies do not accept payment through western union or payments apps/services such as Venmo, Zelle, or Paypal. Online payments are usually made through a tenant portal connected to the company’s website. If you do make a payment through Venmo or Paypal, make sure that you do not select the “family and friends” payment option instead of payment to a business or vendor, otherwise you may not be able to recover funds if you do realize that you’ve been scammed.