Q: After the application is approved, what is the turn around time to move the new tenant in?
A: Often we receive an application that will need to move in within 24-48 hours of approval. Sometimes , the same day as approved. Its important that your home is in move in condition when the home is put on the market. The most important factor that tenants want is a CLEAN HOME. We don't want to turn away an approved application because they can not wait for the home to be cleaned. We encourage you to use one of our approved vendors for this task. $150-300 is a small investment compared to the cost of one month of vacancy.
Q: Can I enter the property after we turn possession over to the tenant?
A: Seems simple enough, right? There is potential liability issues to be considered. The contractors we us have a business license, liability insurance and workman’s comp. When you lease out a house the owner is subject to laws that govern what can and can’t be done with the property and tenant. When you lease out a house, you have turned your home in to a commercial business.
Q: Can I increase the rental amount ?
A: Yes, a landlord can increase rent BUT landlords cannot raise the rent without "proper notice"
. The "proper notice"
is governed by statute. The statute determines the timing and how the rent increase i
s communicated to your tenant. Our lease has a 5% increase with each renewal term.
Q: Can I store personal items in the home while it is tenant occupied?
A: A rental property is considered a "less -than- freehold estate also called a leasehold estate.". Tenant is the lessee and has exclusive possession of the property. The landlord can not "use or occupy" the home during tenancy.
Q: Can Platinum Property Management help me find and keep good tenants?
A: We strive to provide you with the quality tenants
that you want in your rental home. We can accomplish this by a complete credit report on each of our adult applicants, a complete verification of their rental history from past landlords, a verification of their employment, an eviction search and a criminal background check. The background (criminal) check is up to date and is generally connected directly to the court records. We do not use a database, as they may be months, even years, old. Taking the time to perform these verifications and checks is what helps us find good tenants. Finding a tenant is easy, finding a quality tenant requires effort and sometimes, multiple applications.
Q: Can the resident get my phone number and address if I use you?
A: Our office staff is trained to protect your confidentiality. We will not release any information about you to anyone without your approval. However, please be aware that anyone can access county tax records. If your address is on the tax rolls, you may be contacted by a tenant! If this happens, we strongly suggest you not negotiate any situation with the tenant. Ask your resident to call their property manager and then notify us. If a tenant begins communicating directly with the owner they are also likely to start asking the owner for favors and leniencies that Platinum will not allow. Driving a wedge between the owner and Platinum will erode our authority. Your liability goes up if you enter the house and you become the target of resident complaints, pleadings, family drama and excuses for not paying rent.
Q: Can you guarantee rent?
A: "Rental Guarantee" advertisement, is certainly compelling. It sounds like the perfect solution. If an applicant does not meet the standards of qualifications for approval, a third party provider may serve as a cosigner. If a "high risk" applicant is denied for low credit, deficient income requirements, poor landlord references or does not meet Platinum Property Management's terms and conditions for approval, there are companies that offer another option. We do not offer this service. Our focus is on a quality tenant, not "a tenant" . You can read more about this program here. Atlanta Landlords can transfer tenant default risk.
Q: Can you help me avoid bad tenants?
A: "Bad" tenants or tenants that have bad credit, bankruptcy, poor landlord history, unemployed, will typically target owner-managed rentals
because they can't pass the application process with property managers. They know that when a property is for rent by owner, the rent is likely to be less and there will be less scrutiny of their financial situation. Because tenants trying to rent with bad credit
or history or late rental payments, can't be evicted without notice. An eviction can take months and cost you money. We will verify references and do whatever possible to avoid potential tenants that need to rent with bad credit and associated eviction problems.
Q: Can you help me if I already have a resident?
A: Yes, provided Platinum Property Managements terms and conditions are met. We can acquire mid term lease or when that the current lease concludes. In cases where the resident is behind in their rent, we can take the necessary steps to either get them to pay or evict if we cannot obtain payment. Many residents will suddenly find a way to pay the rent or move as soon as they hear that a management company has been secured to follow through with collection.
Q: Can you manage a tenant occupied property?
A: Yes, it is possible that we can take over management of your existing tenant. This is an option but one that requires an evaluation and a different process than management of a vacant home. Are you in need of eviction services? Tired of being an Atlanta landlord? Are you changing Atlanta Property Management Companies?
There is a tenant acquisition fee for this service which typically ranges $295.00-$495.00. Eviction and Inspection services are also available.
Q: Can you use one of my vendors for repairs?
A: Platinum Property Management is one of the few Real Estate Rental Companies that does not own a maintenance company. We don't add surcharges on maintenance. For that reason, we would be happy to have one of your vendors contact our maintenance department to see if they meet our vendor qualifications. In addition to being fully insured, a vendor must agree to a certain level of quality, response time and warranty provisions. If you are considering using a Home Warranty Company for your rental property, speak with our maintenance department,
Q: Do I have to allow pets in my property?
A: No, as the owner of the property it is your decision whether to allow pets or not
. Some owners will unequivocally not allow any pets, others want cats and not dogs, or dogs within a certain weight limit, etc.. Pets are either yes or no. We cannot manage the weight of a pet and most website queries do not search for “dog only” or “cat only”. Pets, Yes or No. If you decide to allow pets, Platinum Property always recommends a minimum of a $250 pet deposit per animal living in the home, and the pets must meet our pet criteria and resident will sign a pet addendum.
If "Yes" to pets, Platinum will approve applicants with pets that meet our breed restrictions and will approve up to two pets per home.
If "NO" to allow pets, you will be eliminating almost 75% of the rental market, and it could be substantially more difficult to rent your home. If the management company has done its due diligence and properly qualified the resident(s) and collected the proper deposit, the risk from having a pet is minimized.
Q: Do you charge property management fees when my house is vacant?
A: We do not charge property management fees when your home is vacant and on the market. When your property is vacant, we will market the home to secure a new resident.
We will be performing showings during vacancies, property owners should still check their vacant property occasionally. During the winter months, you’ll need to make sure the heat is working and the water turned off, if necessary. The yard should be mowed and any snow and ice removed during vacancies to keep the property ready for showings. We can arrange for these services if you wish. Let us know of any maintenance issues or repairs that are needed, so they can be addressed. We do not make regularly scheduled visits to vacant properties, but will actively show your property to prospective tenants.
Q: How often and how are the property visits conducted?
A: We perform periodic property visits at which time we check to see that the tenants are taking good care of the premises and that they are not violating any terms of their lease. We also take these opportunities to go over any general maintenance the property may require.
A condition report is completed prior to residents moving in. This is known as the "move in inspection", where we detail the condition of your property on a move in inspection form. We perform two visual walkthroughs during a twelve month term. We also conduct other inspections when requested for an additional fee, or if we determine that an inspection is warranted. We also perform an Anniversary condition report on your property when renewing the tenants lease with them.
We perform another inspection, known as the "move out inspection", when the tenants move out of your property. The move out inspection is done to ensure that the residents returned the home back to the condition (excluding normal wear and tear) they leased it in. Pictures or video will be taken if necessary. If there are any damages found, beyond normal wear, we will have the damage repaired and deduct the expense from the tenant's security deposit. Once all repairs have been made, we will refund any remaining deposit in accordance with Georgia State law.
Q: How quickly does Platinum Property Management process monthly rents and statements to property owners?
A: We pride ourselves on a quick turnaround of your rents and statements. We generally process the rents and statements by the 12th of each month. Our process is paperless. Each homeowner will be able to access all of their account information through a secure owner portal. You will establish your own login and passcode. Our process is paperless.
Q: I have a vacant property, how long will it take to find a tenant?
A: Are you looking for "any tenant" or a quality tenant? There are many factors that will play a part in the leasing of a property. Some of these factors include property condition, property location , neighborhood, rent amount, application processing
and denials, and more. Platinum Property Management cannot guarantee a tenant placement within a certain period of time, nor do we believe a property owner would seriously want to place just "any" tenant. We may receive multiple applications on a home before approving an applicant. A quick tenant placement may cost you more money on the back end.
Q: Is Pest Control part of the maintenance responsibilities of the landlord?
A: No, unless the rental agreement provides that the landlord will supply . Many landlords prefer to control and pay for this service to ensure it is managed properly. If a tenant should neglect their responsibility to treat the home and there is an infestation, the expense to repair the problem could exceed the costs to have the home serviced. If it is not included in the lease, pest control may not be required of the landlord unless local housing or health codes require it. If the pest problem is severe, the landlord may be required to address the problem because the property's condition violates local health and safety ordinances. As a general rule, we request that owners service the home in between tenants and tenants maintain pest control during the lease term.
Q: Should I rent my home furnished?
A: Consider the type of tenant you wish to attract to your Atlanta rental home? Typically, tenants that require furniture are not long term tenants. Furnished Rental Homes in Atlanta will attract students, first time renters and short term corporate executives. A vacant rental home will diminish your ROI, to avoid a vacancy, focus on marketing to a longer term tenant.
Atlanta, GA rental occupancy rates
remains one of the highest the nation, tenants are leasing longer and making your investment property their "home" with their own furniture, style and decor.
Q: What happens if my tenant is not looking after the property?
A: If it is noted on the property visit that your tenant is not keeping the property to the required standard, then a lease violation is issued, stating the items that need to be resolved. If this is not done within the stipulated time frame, usually 10 days, we will contact you to discuss the next course of option, including sa termination notice is issued requiring the tenants to vacate the premises.
Q: What is a constructive eviction?
A: There are two elements to necessary to show there has been a constructive eviction. They are (1) that the landlord's failure to repair has made the home unfit place for the tenant to live, and (2) that the home cannot be restored to a fit condition by ordinary repairs. Put another way, for damage to a residential home to constitute a constructive eviction which would release the tenant from their obligation to pay rent, there must be a failure by the landlord to make repairs which leaves the home unfit for the tenant to live in and not just be uncomfortable for the tenant to live in. The tenant must also vacate the unit.
Q: What is an eviction (aka unlawful detainer or forcible detainer)?
A: An eviction is a suit brought by a landlord to obtain possession of rented property and receive payment of back rent. The first step is a filing, when the tenant is served and a trial may happen. Many eviction suits never go to trial and less than 10% result in monetary judgment. Evictions only appear on a credit report when there is a monetary judgment; many property managers mistakenly think that they can rely on the credit report to uncover prior evictions. Platinum accesses a nationwide eviction data is based on filings so many more evictions will be uncovered.
Q: What services do you provide?
A: We maintain the property and provide you with the greatest return on your investment including, but not limited to:
- Locating and screening prospective tenants
- Quarterly Inventory and condition reports
- Collecting and disbursing rents
- Sending out property taxes, maintenance fees, etc.
- Deposits to client accounts, if desired
- Coordination of cleaning, repairs and regular maintenance
Q: What type of properties do you manage?
A: Platinum Property Management currently manages residential
single family homes and individual condos, townhomes.
Q: What type of properties do you manage?
A: We specialize in quality single-family residential properties, and also manage high-quality townhomes and condominium properties.
Q: What Will My House Rent For?
A: If you’ve chosen to rent out your house instead of selling it, you can’t charge rent solely based on the size of your mortgage payments. Atlanta Real Estate Rental Market
continues with big gains in both occupancy and rents, supported with a limited single family home supply. Find out how much rent you should charge here.
Q: Who maintains the lawns and gardens?
A: The maintenance of lawns at a rental property is the responsibility of the tenant, unless otherwise stated on the Rental Agreement. The homeowner is responsible for seasonal lawncare such as fertilizer, weed control , shrubs and mulch and trees.
Q: Why rekey before a tenant moves in?
Most homeowners and tenants have several keys to their house in circulation. Friends, neighbors, house cleaning services, children, contractors, real estate agents, keys hidden or forgotten around the exterior of home. When a tenant or homeowner vacates the home Platinum's due diligence includes protecting the new tenant's right of privacy and safety. Platinum issues new keys to each new tenant and Platinum retains key copy. Platinum contracts with a professional (licensed and insured) locksmith company to re-key all locks to match one key, making it convenient for everyone.
It is not uncommon for a homeowner not to have keys to all locks in the home or have locks/deadbolts that are nonfunctional. Renting your property raises the requirements to provide the safety of working locks on all doors and windows. As a homeowner , we may tolerate broken locks but as a landlord we need to provide functional locks.
When you rent your home you have transferred "right of possession" and are promising "quiet enjoyment" to another. In an effort to protect homeowners/landlords from false accusations, owners of occupied homes can not enter properties unless accompanied by Platinum team member.
This is a small price to pay for the reduced liability of "unlawful entry" and disrupting the tenants "quiet enjoyment".
Q: Why shouldn't I manage my property myself?
A: There are landlords that choose to manage their property themselves and many of them are very successful. However, with the time involved in collecting rents, arranging repairs and leasing units, most owners have found that their time is more valuable spent elsewhere. Other important considerations are the legal aspects of property management. In the litigious society that we live in, there may be legal expenses during your learning curve. The courts expect landlords to know tenant landlord law
. We are well versed in landlord tenant law, and are aware of the constantly changing Federal and State mandates governing them.
Consider these questions:
- Do you know all of the landlord/tenant laws for your city, state, and federal government?
- Do you know rent values, vacancy factors, and time on the market in your area?
- Do you have a rental application and consistent screening policies that meet all of your legal obligations?
- Do you take the time to perform thorough move-in/move-out written inspections and routine property inspections with pictorial timeline?
- Do you personally know reputable painters, electricians, roofers, chimney cleaners, carpenters, furnace and appliances repairmen who are licensed and insured, affordable, and reliable?
- Do you effectively confront and negotiate with the tenant and enforce the terms of your rental agreement?
- Are you willing to be on call 365/24/7? Your special event, important meeting, vacation doesn't relieve your obligation to respond.
- Do you have the ability to recover NSF checks, handle the accounting and record keeping?