How long will it take to rent my property?
We will recommend a rental rate and terms that we think will attract a qualified tenant within 30 days. Market conditions vary and we can't make any guarantees as to when we will get a qualified applicant. Some properties lease immediately. Others take longer. We will provide you with updates as we get feedback from the market so that we can modify the price or terms, if necessary.
How do you determine the rental rate?
We start with experience. Over the years, we have managed hundreds of rental properties. We also have access to listing information via our local Multiple Listing Service, which assists us in keeping informed of market trends. After inspecting your property we can make recommendations to you on how to enhance your home's value and marketability. Once we are familiar with your property and your goals, we will use our knowledge of the current market situation to recommend a rental rate. It's your property - we recommend, but the decision is yours.
How will you advertise/market my property?
Most of our applicants tell us they found our available rental homes by using the internet. We have access to over 90 websites in addition to our own. We may also use signs and print media to promote your property. We analyze each property based on its own unique circumstances and tailor our marketing plan so that your property is promoted under the most favorable conditions.
How do you check the applicant's credit/reference history?
One of the most important aspects of making your experience as a landlord rewarding is placing the right tenant in your property. While no one can discriminate on the basis of race, color, religion, national origin, sex, disability, and familial status, we can discriminate on the basis of credit and rental history.
Once we have an application generated from our marketing efforts we conduct a detailed background check on the applicant. To reduce the possibility of being deceived by an applicant, we use a multi-tiered background check to cross-reference each applicant. Our background checks consist of:
A picture ID of the applicant
We pull a copy of their credit report, including their Empirica Score
We check to see if the applicant has had eviction warrants filed against them
We confirm their residency history
A thorough background check is crucial to avoid costly mistakes with your property. A bad tenant can be a very expensive ordeal due to lost rent and damage to the property. While no background check can eliminate the risk of a problem tenant, our thorough examination can significantly reduce your risk.
How much do you charge to lease my home and manage my property?
There are several factors that go into our fee structure. Please contact us for more information.
Who collects the rent? When do I get paid?
The tenant makes all payments to Primarily Property Management LLC. Security deposits are maintained in one escrow account, while rents and other payments are kept in a separate escrow account. We will deduct our management fees and any other authorized expenses and send the balance to you. Depending on the fee structure you choose, you will be paid on either the 15th or the 30th of each month.
What happens if the tenant doesn't pay the rent?
Our lease gives the tenant a 5 day grace period to pay the rent. On the 6th of the month, late fees are posted and "late notices" are sent to the tenant. Under Georgia law, we must first notify the tenant that they are in default of the lease and the Landlord must "demand possession" of the property before a Dispossessory Warrant can be requested from the court. Demand Letters are issued on the 10th of the month. In the meantime, we attempt to contact the tenant and find out why the rent hasn't been paid.
If we still haven't received the rent by the middle of the month, depending on the particular circumstances with each tenant, we file a Dispossessory Warrant with the court. As needed, we attend court dates, ask the court for a Writ of Possession, and meet the sheriff at the property with a "put out" crew to remove the tenant and their belongings from the property. We are retained by you to protect your interests. If the tenant can't pay the rent, we need to find a new one that can.
What happens if the tenant has a maintenance problem?
The tenant reports all maintenance issues directly to us. We will take care of coordinating the repair between the tenant and the contractor. We will deduct the repair costs from your rental income. In the event that the repair costs more than the anticipated rent to be collected, we will ask you for immediate payment to take care of the shortage. We will handle emergencies immediately, to protect your property from suffering any further damage.
Can I sell the property to the tenant?
Yes. If you (we) sell the property to a tenant that we procured, our Management Agreement states that you will pay us 3% of the purchase price, as we brought you the buyer. We will help prepare the contracts, arrange financing, and coordinate all of the tasks required to successfully close the sale. However, if we did not place the tenant then we don't expect to get paid a sales commission if the tenant buys the house (unless you ask us to represent you and help with the transaction).
Can I sell the property to someone else if the tenant can't buy it?
Yes. Many leases include a clause that allows both you and the tenant to terminate the lease early in exchange for paying certain penalties. If you can't wait until the lease term expires then this clause still gives you the option to sell the property, even though the lease hasn't expired. Our management agreement doesn't limit you from selling the property to someone other than your tenant. You can sell it yourself, list it for sale with another broker, or list it for sale with us. As a matter of fact, many of our property owners prefer using us to sell their property, as we have a good working relationship with their tenants.
Does retaining a management company guarantee I won't have any problems with my property?
NO! If you own rental property you will eventually have problems of one kind or another. Whether the problems are related to maintaining the property or dealing with the tenant, there will be problems that need to be resolved. Retaining Primarily Property Management LLC to manage your property will eliminate some, but not all, potential problems. Our experience will help reduce the number of problems related to rental property. Those problems that can't be avoided must be solved. Our expertise will help reduce the aggravation and potentially higher expenses related to solving these problems. We can't keep all bad things from happening, but we can handle solving the problem for you so that you don't have to handle it all by yourself.