Owner Resources

FAQs

• How do you make sure my property remains in good condition?

  Keeping your property in excellent condition begins up front. Finding responsible tenants who will treat your property with respect is the first step. After move-in, we conduct annual maintenance reviews to make sure the tenant is caring for your property. We provide owners with inspection reports and photos to keep them informed of the property’s condition. We also make sure small issues don’t turn into big problems by addressing minor maintenance requests in a timely manner.

• How do you market the property?

  As soon as we are notified that a tenant is going to move out, we post a sign on the property and list the vacancy on our website as well as on multiple local and regional rental websites. We immediately advertise the upcoming vacancy so that we can have a new tenant in contract before the outgoing tenant has moved out. This keeps your property occupied at capacity and earning rental income. If we acquire a new vacant property, we post a sign on the property and have the listing, complete with marketing photos, posted on these same websites within 48 hours.

• How do you screen residents?

  We require a comprehensive rental application to be completed by all prospective tenants. We then conduct a rental history check with landlord references dating back five years or more. We verify employment and income (must net 2.5 times the rent) by requiring three most recent pay stubs and by placing a call to the employer. We also conduct eviction and background checks through local court databases and online tenant records. Each prospective tenant’s credit report is checked and carefully examined.

• What happens if the tenant pays rent late?

  Rent is due on the first day of the month and considered delinquent the following day. If rent is not paid by the fifth, a Three-Day notice to pay rent or quit is served to the tenant(s). If the tenant(s) does not pay the rent after those three days, the owner is notified and eviction papers are sent to an attorney to be filed at the courthouse.

• What is your pet policy?

  If you would like to accept pets at your property, we collect a deposit for each pet. We also require the tenant to sign an addendum to their lease outlining our pet policies. Any damage done by the pet is the tenant’s financial responsibility. We do not accept puppies, kittens or breeds that may pose a risk to the owner or property manager.

• What money do you collect at move-in?

  We collect first month’s rent and a security deposit which is usually equal to one month’s rent. The security deposit is held in our security deposit trust account and is used at move-out to fund any unpaid rent and/or repairs.

• When are monthly funds distributed?

  Funds are disbursed twice monthly: on the 20th for any funds received by the 15th, and on the last day of the month for any remaining funds. This ensures that monies distributed to our owners have had enough time to sit in our trust account for us to be able to consider them “good funds.”

• How are repairs and maintenance handled?

  All incoming maintenance requests are filtered through our property managers. Requests are assessed on a case-by-case basis and emergencies are handled immediately. We use our vetted list of licensed (if required) and insured vendors to complete the work, depending on the nature of the repair. Major repairs are always cleared through the owner first unless it is an emergency that demands immediate attention.

• What if the tenant damages the property?

  If the tenant does damage to the property, the cost of repair is the responsibility of the tenant. Any repair costs assessed at move-out are deducted from the tenant’s security deposit.

• How much will you charge to manage my property?

  Our fees are based on the types of services you would like us to provide. To schedule a consultation and for more information on our fee structure, please call us at 916.452.4679 or email us at contact@growproperties.com.