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Property Management FAQ

Whether you’re a seasoned property owner or considering delving into the world of property management, our FAQ section aims to address your inquiries and provide clarity on various aspects of property management. From understanding lease agreements to maximizing rental income, our comprehensive answers assist landlords in effectively managing their properties. Explore our FAQ section to find solutions to your property management queries.

Q: What determines the rent for my property?

A: Ultimately, we optimize rents in accordance with your goals by utilizing our marketing skills, analysis, and judgment in the rental market.

Q: How are the security deposits handled?

A: Security deposits are deposited into the trust account. They remain in the trust account until the tenant vacates the property. Tennessee State law requires us to refund any security deposit money due to the tenant within thirty days (30) days.

Q: How are tenants selected?

A: We carefully screen each prospective tenant application, verifying rental history, employment, and obtaining a report which includes credit, evictions, and criminal history.

Q: Do I pay for processing the tenants’ applications?

A: No. You pay nothing.

Q: Who pays for maintenance and repairs to my property?

A: The owner covers maintenance and repairs unless, in rare cases, the tenant has agreed to assume responsibility or has caused the damage.

Q: Who pays for the marketing of my property?

A: We cover all signage and labor costs associated with marketing your property for rent. In fact, we strategically position and aggressively market your home online, as over 80% of renters report searching for rentals online. We utilize various free Internet sites and our company website for marketing. If the owner desires additional print advertising, the owner incurs that cost.

Q: Are management fees tax deductible?

A: Generally, yes, consider it a direct expense item. However, verify this with your tax adviser as your specific situation may vary.

Q: What is typically involved in preparing a property to be rented?

A: Generally, you should expect to prepare the property for move-in by the tenant. A well-maintained property rents quicker and commands a higher rental value. We are here to answer any questions to ensure all our clients are well-informed. Please feel free to contact us with any other questions we can assist you with.