Property Management FAQ

Do we markup repair and maintenance services provided by our vendors?

No. We never markup or charge a handling fee on services provided by our vendors. We feel this practice is unethical and in conflict with the ethical and moral standards established in the real estate industry.

Do we require an annual contract?

Many times we do not require an annual contract, particularly with smaller properties. We generally prefer a monthly renewable contract. We feel this provides both the client and our firm with the appropriate amount of flexibility.

I/We own a small property, can’t we just manage everything ourselves?

This is an option for every building. The real question is whether the owners are willing to spend the 10-40 hours required each month to effectively manage the property. Its easy to overlook everything that must be done to properly manage the property:

  • Pay bills every month
  • Collect and track rent payments for each tenant every month; deposit all rent payments
  • Coordinate legal action and evictions if necessary
  • Advertise/market vacant units using internet and low cost newspapers
  • Coordinate repair and maintenance services
  • Respond to phone calls and correspondence from tenants
  • Deposit monthly rent payments
  • Prepare annual budgets
  • Prepare financial statements and bank reconciliations
  • Prepare annual income tax returns and government filings

Are there any up-front costs to do a rental listing?

No, the only monies needed would be what you need to prepare the home for showings.

How quickly will the property be rented?

There are no exact time frames but if the home is priced correctly and well maintained the homes in recent months have been rented in no longer than 60 days.

Are there any up front costs to use your services to find a rental property?

No, we will help find, negotiate and contract a property as your representative.  Our fees are covered by the owner of the property.  In most cases a new renter will need to provide a current credit report and background check.  These typically cost around $50 non-refundable.  In addition, you will need a security deposit and rent per the final agreement.

If I’m a renter, do I have an opportunity to inspect the property before we move in?

Yes, and the property owners and/or management company will address the issues.

Is there insurance on the property?

Yes, there is insurance on the property for the structure.  Although the owners have insurance, some owners will require the renters to provide an insurance policy that will cover the personal property of the renter.

Do you have an appraisal for the process of our sale?

No, but we have several qualified appraisers we would provide to you.

Do you have an attorney for the process of the sale?

No, but we can provide you with several qualified attorneys

Are there any up-front costs to do a sale listing?

No, the only monies needed would be what you need to prepare the home for showings.

How quickly will the property be sold?

There are no exact time frames but if the home is priced correctly and well maintained the home will sell quickly.

If I’m a buyer, do I have an opportunity to inspect the property before I move in?

Yes, and the property owners and/or management company will address the issues.

Do you have an appraisal for the process of our sale?

No, but we have several qualified appraisers we would provide to you.

Do you have an attorney for the process of the sale?

No, but we can provide you with several qualified attorneys

In what areas do you run the background check?

All counties in every state, Interpol, and FBI.

Is a sex offender conviction an automatic rejection for the rental?

Yes, along with any felony convictions within the past six years.

Who is able to see our personal information on a credit check?

No one but the security company has your information.

Can I get a copy of my report?

Yes, but only in person with an ID.

 What if there are mistakes on my report that should not be there?

Along with a report you will receive a toll free number for the screening agency for any questions or comments.

How long is a credit and background check good for?

Horizon Property Management requires that the reports must be less than six months old and done by a reputable firm.

Are the owners of the property able to review my report if I am going to rent?

No, they are not able to see the backup information but do receive a recommendation from us along with the criteria which was used for the recommendation.