Frequently Asked Questions
Whether you’re a first-time landlord or working on your umpteenth property, here are the questions we get asked by our clients.
Can I hire Real Estate Solutions if I’m with another property management company and I’m not happy with them?
Yes. Before we assist you with property management, however, we will require evidence that any contract with the other management company has been terminated. Once you have successfully ended your relationship with the other company, Real Estate Solutions’ services may be retained and we can immediately get to work. We can coordinate with the other company to secure security deposits, leases, keys, etc.
Can I hire Real Estate Solutions if I’m in the middle of an issue with my current tenant?
Yes, absolutely. We can take over at any stage in your rental, even with a current tenant on a different lease and even if that tenant is not paying rent. You can hire us at any time and we will get to work on your behalf. As mentioned elsewhere on this site, we do not charge you anything up front and if you hire us to evict a non-paying tenant, we won’t charge you our management fee until the property begins bringing in rent again.
How often will I be updated?
As a client of Real Estate Solutions, you will have 24/7 access to a sophisticated and easy to use owner portal. From your portal, you can see all documents associated with your property or properties: leases, invoices, owner statements and more.
Anytime a document is uploaded, you will be notified immediately. If a work order is created, you will be notified immediately, including the specifics of the issue, what we’ve done to troubleshoot the issue and you’ll be notified of the vendor we’ve assigned.
If your property is on the market, you’ll be updated weekly (at a minimum) of the status: we’ll tell you about the showings, we will tell you what prospective tenants are saying about the property, and we will offer our expert opinion in terms of any price or condition or term changes needed to get the property rented quickly. The showing feedback is acquired by our proprietary systems, in real-time and available within minutes of a showing at your property.
What needs owner approval?
Our Management Agreement gives us repair authority up to $350 (excluding emergency repairs) and owners are notified before any of their funds are spent. Because we have zero financial interest in repairs, you can be assured that there is no conflict of interest–every repair is a situation where we are looking out for our client and our client’s property to ensure they are taken care of. Please see our Management Agreement for more details and enjoy the lack of fine print!
How quickly can you rent my place?
While it depends on the property, the property’s condition and the price and other terms (such as whether pets are allowed), what we can tell you is that no one will rent your property faster. Our weekly feedback to owners ensures our clients are getting our professional opinion as well as the exact response from the market, at least weekly, if not more often. With our outstanding responsiveness and flexible showing-ability and low $20 application fee, prospective tenants love renting through Real Estate Solutions. Most properties RES manages are re-rented before they are even vacant!
What type of advertising do you offer?
Our incredible (and always free to you) marketing package is constantly evolving to match the current trends in the rental industry. Currently, the suite of marketing sites includes the top rental sites: Zillow, Trulia, Craigslist (re-posted often), Postlets, Hotpads, Rent-Jungle, RESrents.com, Oodle, Vast and many other sites. Interestingly, however, tenants will almost always go to only the top 1 or 2 rental websites when finding their next home.
Why? Because they don’t want to check 20 or more sites – they want to use the 1 or 2 sites that have all the rentals. This means Craigslist (where we regularly re-post) and Zillow in most cases. The real key to getting properties rented is being incredibly responsive, friendly, having an easy rental process and making it as easy as possible for tenants to apply!
RES checks everyone of those boxes for you. In addition to the internet marketing, we utilize mobile vehicle advertising featuring professionally “wrapped” company vehicles, high quality 3 foot tall metal “For Rent” signs working in concert with mobile iPad and iPhone technology and vehicle GPS tracking all contribute to RES quickly renting your property. Our Field Team Members (who show the properties) have access to all company data and can answer any question for prospective tenants in real-time while at the property. This leads to fewer showings, more applications and shorter vacancy times.
What costs extra?
There are no extra fees, no hidden charges, no maintenance markups, nothing of the sort. Our service and our fee covers everything needed to rent your property and effectively manage it, day after day, year after year. Most of our competitors have revenue streams tied to things like “eviction protection plans” or “tenant guarantee plans” or “gold marketing packages” and on and on. We believe in giving you and every client our best service, for one low fee.
Do you coordinate maintenance requests?
Of course! We have a long list of pre-screened, approved vendors who know that when Real Estate Solutions sends a work order, the expectation is quality work, excellent communication and a fair and clear invoice. We hold the vendors we use to the highest standards and if they do not meet our standards we move on to another vendor. When we receive an invoice, we review it and if it’s satisfactory we will upload it to your owner portal and pay the vendor from the following month’s rental proceeds. You will receive a clear statement indicating income and expenses every month, as well as the invoice via our owner portal, for your records.
What other properties do you manage?
Real Estate Solutions manages hundreds of properties, in multiple states. Most of our clients are landlords with one rental property. We know that each property we are entrusted to manage is usually the single most valuable asset our client owns. We take our responsibilities very seriously and manage the properties as if they are our own.
How fast will I get my rental income?
Fast! We pay owners as soon as the funds clear our bank account. We have a very convenient online tenant portal to encourage tenants to pay their rent online from their smart phone or computer. While our competitors pay owners around the 20th each month, when all the rents have come in and cleared their account, we know that you want your money asap. Our systems are designed specifically around making sure you get your funds as soon as possible. You will receive an email from Real Estate Solutions as soon as we have initiated the deposit into your bank account.
How much will you charge to manage my property?
Our fee structure is simple! We charge 7% of the rent ($100 minimum) when the rent is paid. That’s it! If your tenants want to renew their lease and you agree to the renewal terms, we will charge you $100 for a renewal inspection and new lease – this is something that only happens once per year and you only pay this if the tenants renew. If the tenants do not renew their lease and move out, there is never a fee from us to handle the move out, the marketing, the turnover and placing new tenants!
How stable is your business?
Real Estate Solutions opened its doors June 1st, 2008. We have seen, in that time, a huge recession, a roller coaster real estate and rental market and all sorts of other economic fluctuations. Through it all, we have consistently grown our company, averaging about 15% growth per year. With almost 1,000 properties under management in two states, we have seen very steady growth year over year, despite external economic conditions. We do not have any investor owners and we own each of our office buildings.
From the client’s point of view, this all points to incredible stability and staying power. From every angle – from our business model, to our people, to our systems and processes, we are a solid company. Our company is designed from the ground up as a systems-oriented company; and this means that regardless of who is working at the company or who is at the helm, the business is designed to operate in perpetuity.
What is your application fee for tenants and what does that process look like?
We charge the lowest application fees in the business, at $20 per adult. This encourages prospective tenants to apply for your property. Equally as important to getting your property rented, however, is our exceptional responsiveness to prospective tenants.
If a tenant is interested in your property, they will find Real Estate Solutions is extremely easy to reach, easy to schedule showings with and the application process is very simple from their point of view. Everything from the first point of contact with Real Estate Solutions through to the lease signing, is organized, clear and very straightforward for tenants. They are emailed with exact instructions in terms of what to bring to the lease signing, what to expect, etc. They are sent the lease ahead of time – even before they commit to the property – because we are a company that values transparency with all parties.
How quickly do you respond to clients?
Our company culture if focused on client service. We train our Team to be exceptionally responsive to all clients. This means, emails are returned same day -usually within minutes – and phone calls rarely go to voicemail. If they do, they are returned the same business day, without exception.
How is Real Estate Solutions able to charge so much less than the competition while claiming to offer superior services and results?
There are a few reasons we are able to offer industry-leading fees, while offering industry leading service and results.
First, we focus relentlessly on efficiency. From our Team Members to our systems, every minute spent on every task is analyzed and constantly improved. Our offices are paperless, our team is elite, our technology and systems are lightning-fast. In terms of our Team: the elite few who have proven they have what it takes, and who become a part of the Real Estate Solutions Team are rewarded with great pay and benefits. This means our clients are, in turn, rewarded by interacting with people who are truly property management professionals who love what they do. We can consequently get more property management done with less people.
Second, our business model is different from the ground up. We’ve never had a commission-based team, because we know that is never in the client’s best interests. Our clients demand consistency, competence and results. Anyone chasing a commission check will not be able to honor those commitments.
Third, our business model has always taken into account the need to be mobile. Property management happens out in the world as much as it happens in an office. To that end, we’ve always been on the cutting edge of efficient field work; proprietary applications, systems, instant communication across all Teams and offices, gps tracking, cloud-based communications, etc. As technology moves forward, so does RES. Those are some of the ways we are redefining property management.
Do I really need to hire a property manager? Can’t I do it myself and save the money?
It is possible. Lot’s of people try. Some do a good job at it, but it comes with a pretty hefty learning curve.
Take a look at a few actual stories our clients experienced before coming to us for help.
Save yourself the trouble and expensive headaches, contact us to discuss how to place your property under our property management