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Frequently Asked Questions: Home Owner Edition

May 26, 2024

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HOW ARE RENTAL RATES DETERMINED?

We consider several factors when conducting our market survey including price check on houses for rent & sale in your neighborhood, supply & demand, and time of year. We typically see an increase in resident activity between March and August, however, people look for houses to rent year year-round. 


WHAT IS YOUR RESIDENT SCREENING CRITERIA?

There is a requirement of 2.5 times the rent to income ratio, while also conducting a credit and background check and rental verification. Please refer to our "Resident Screening" page for more information. 


WHAT IS YOUR LATE FEE & PET POLICY?

All payments are due on the 1st and late on the 5th. As soon as a payment is considered late, a $100 fee is automatically added to their account. Visit our "Pet Policy" for more information regarding Fair Housing & our pet screening questionnaire. 


HOW LONG ARE YOUR LEASES?

We typically start with a 12-monthmonth lease with the option to renew. If the renewal is not signed by the resident or a notice to vacate is not submitted, they will automatically be rolled month to month. 


HOW OFTEN ARE PROPERTY INSPECTIONS PERFORMED?

Horsethief will conduct semi-annual home inspections and drive by the property quarterly. When work orders are placed, it's another opportunity for our team to inspect the condition of the residence nonchalantly. 


HOW ARE RESIDENT REQUESTS/ COMPLAINTS HANDLED?

Residents are welcome to place workorders / communications via the resident portal. When workorders are placed, our team will receive a notification and begin facilitation between vendors and residents Our team handles complaints with an open mind & actively listen to better understand the resident's perspective. We investigate, communicate openly about the issue and how it can be resolved. Appropriate measures will be implemented to rectify the issue effectively. Documentation can be valuable for future reference and ensure accountability. 


WHAT ARE YOUR LEASING & MANAGEMENT FEES?

We charge a resident placement fee and monthly management fee determined by a percent of the rent. Prices are determined once a property evaluation has been complete. 


WHAT DETERMINES THE COST OF OUR MANAGEMENT?

Our management fee includes a lot of features including quarterly property drive, by inspections, in-person rental showings, resident & owner portals, 24-hour maintenance facilitation, and marketing across several platforms. Added bonus, our fees don't fluctuate! 


We understand that entrusting your property to a management company is a significant decision, and we appreciate the opportunity to address your questions and concerns. Our commitment is to provide transparent, reliable, and professional services that exceed your expectations. Whether you're a seasoned investor or a first-time landlord, we're here to simplify the management process and help you achieve your property goals. If you have any further questions or would like to discuss your specific needs, please don't hesitate to reach out to us. We look forward to partnering with you and ensuring the success of your investment property.

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