"Dedicated to making your investment
property profitable and enjoyable"
FAQ's (Frequently Asked Questions)
Is there a set up fee and if so, what is it for?
No, There is no charge setting up your account’s physical
files, directories and data files, taking digital photos of your
property as well as setting your property up in our property management
What will you do to make sure that my property rents?
First, we will conduct a market survey of other properties similar
to yours in the same general location, what they are renting for
and, how many properties are on the market at this time. This will
help us to give you good council as to what your asking price should
Next, once we have decided on the rental price, Greatland Realty
Property Management will list your property on over 60 different
websites with photos and videos and post photos and information
on our web site under the “Rentals” tab . . . all of
these things to ensure that your property gets maximum exposure.
Remember, we do not charge you a leasing fee UNTIL your property
is rented . . . .we are motivated to get it leased!
What if you do all these things and my property still doesn’t
Typically, this is an indication that the rental price is too high
for the market or that the market has changed. We will conduct a
market survey again, to see what changes there may have been and
revisit the rental price with you.
How long will it take to rent my property?
Every property is unique and the time to rent it will vary because
of things like: the market, time of year, condition of your property
and the asking price. The market is how many other similar properties
are on the market for rent, how are we priced in relation to the
other properties on the market . . . it boils down to competition.
The condition of your property relates to how well the property
shows to prospective tenants, if it is older and has not been updated
or the paint is “tired”, then other properties on the
market which are in better condition will have a more positive impact
on a prospective tenant. Time of year can be a large factor . .
. traditionally, the time between November and January is very slow.
What happens when a tenant is late paying their rent?
We are very “fair but tough” in this area. Rents ore
due on the 1st of each month and late of the 5th. If we have not
received a full rent payment by the 6th of the month (this includes
partial payments) a late fee of $150-$200 will be charged and, most
importantly, we will deliver a 3-Day Notice to Pay or Quit to the
property THAT DAY and mail a copy of the same notice to the tenant
via registered mail. If the delinquent account is not brought current
by at the end of the three business day period, the owner will be
notified, the account will be turned over to your attorneys to start
eviction proceedings. A full eviction process takes 4 – 6
weeks and will cost around $500. In our history, we have had to
evict only a very small number of our tenants . . . about 1 per
year on the average.
Will the late fee be added into my account?
May I contact the tenants myself?
The general idea of using a property management company is to keep
at arm’s length from your tenants and avoid getting involved
personally. We at Greatland Realty have developed a good working
relationship with the tenant and your personal involvement with
the tenant could serve to undermine that relationship.
May I just stop by the property to check on it at any time?
The lease agreement which we have entered into with the tenant is
a legal and binding contract. Under the terms of that lease, the
tenant is entitled to the private use and enjoyment of the property
and an un announced visit by the owner or property manager would
violate that. The lease does provide for periodic inspections by
Greatland Realty Property Management
What do I need to do to get my property ready to rent?
The amount of work required to get your property ready to rent depends
on the property and it’s history. When we meet to discuss
our services, we can give you more specific input at that time.
As a general rule, we recommend:
• The inside of the property be freshly painted (typically
a neutral or off-white tone works best).
• Carpet should be professionally cleaned , as a minimum.
• All windows should have window coverings, at least one smoke
alarm in the hallway outside of the bedrooms (Bedrooms with taller
ceiling s may require more).
• Water Heater should be earthquake strapped with double straps.
• Property should be in good working order and CLEAN
• If the property is older and has not been updated, this
may be something you will want to consider to maximize your rent.
Does Greatland Realty Property Management do repairs also?
Yes, we maintain a group of tradesmen who can do fine work on your
property at very reasonable prices.
Can you call me before doing any repairs?
We will always contact you via e-mail or voice mail and let you
know about repairs needing to be done and the expected cost. In
the case of emergency repairs (leaking water heater, backed up toilet,
flood) we are required by law to make those repairs immediately.
If we are unable to speak with you personally we will definitely
leave you a message as to the nature of the repair and the estimated
cost. On more elective type work to be done, we will definitely
have the opportunity to discuss costs and alternatives.
What if I want to do all of my own repairs?
While this is not something that we recommend we can definitely
work with you on this. One thing that you will want to keep in mind
is timeliness and the tenant’s right to the private enjoyment
of their property.
What if I have a home warranty?
Not a problem, we are very well versed at working with home warranty
companies and making sure that you get all of the benefits you are
entitled to under that warranty.
Will I receive Receipts for all work that is done on my
Yes you will get copies of all receipts
Should I allow people to have pets in my rental property?
This is hard question but this is your property and you may set
this policy yourself. Some things you may want to consider are size
and number of pets, type of pets, increased maintenance expenses
(lawn re-sodding, carpet cleaning) how large of a pet deposit you
will require. If your property is a 2nd floor condo you may not
want to allow a 150 pound mastiff to live there. We have a lot of
experience in this area and can help guide you along the way if
this is something you want to do.
What if my property is leased and I want or need to sell
If you are planning on selling the property AND the existing lease
to another investor this is the easiest scenario. If you are planning
on selling the property to an “owner-occupant” at the
end of the lease this is not a problem. First, we will need to give
the tenants written notice of your intent not to renew the lease.
Many times, we are able to work with the tenants to make positive
arrangements to show the property while they are living there.
If you are early on in the lease and your plans are to sell the
property to someone who intends to occupy the property (as opposed
to leasing it out) remember, the lease that we have entered into
is a legal and binding contract and this scenario could bring up
some potentially, very contentious legal issues. You would definitely
want to consult legal council before moving in this direction.