Queen City Property Solutions
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FREQUENTLY ASKED QUESTIONS
Copyright Queen City Property Solutions 2007
Here you will find answers to some frequently asked questions about our property
management services.
What type of rental properties do you manage?
We manage single family homes, duplexes, four-plexes , as well as small apartment
buildings containing up to 12 units.
What areas do you work in?
Our property management service area consists of Buffalo NY: East Side, North Side, and
Riverside.
What will you do to rent my property?
What do you do to qualify a tenant after they have applied to rent my unit?
We feel that this is the most important aspect of the successful management of rental property.
In general, we look at the applicant's past behavior in order to help us determine their future
behavior.
An applicant must demonstrate a history of being a good, responsible tenant or homeowner
and they must meet our minimum income and credit requirements. We process all
applications in-house and verify that their information is correct and accurate.
How do you make sure the tenant is taking good care of my rental property?
First and foremost, careful tenant selection from the outset helps protect your property from
being rented to irresponsible tenants. As a part of our service, we will perform an exterior
inspection of your property at least twice a year and we will do an internal inspection upon the
tenant's lease renewal.
During the lease term if a repair becomes necessary, we will use that time to inspect the
interior of the property. We will send you a copy of any inspection reports that are conducted.
What happens if the tenant does not pay their rent?
If rent is not received by the 4th of each month, we immediately send the tenant a series of late
notices. If we still do not receive the rent then we will send the tenant a notice of our intention to
proceed with eviction if their rental payment is not brought current within the specified amount
of time. Our next course of action involves contacting the rental owner to discuss initiating
eviction proceedings against the tenant.
Whether or not we eventually have to proceed with a formal eviction depends on the specific
circumstances. It is always financially better for everyone involved if a solution can be worked
out. If the tenant has experienced a one-time event causing them a financial hardship, and we
have had no previous problems with them, it is better for you and the tenant if we give them a
chance to catch up - if there is reason to believe they can do so.
If the tenant has demonstrated an ongoing pattern of late payments, broken promises about
payments and/or evasiveness, we know from experience that eviction is the best course of
action. Remember, each case is unique and we will make a decision based on what is best
for you and your property in the long run.
How informed will I be about what happens with my property?
Absent any special considerations unique to you or your property, our rule of thumb is this: If
something may cause a potential interruption in your ordinary cash flow (loss of tenant or non-
emergency repair in excess of $300), we will let you know about it right away. Other than that,
we believe in the saying: "no news is good news".
Non emergency items will be communicated along with your monthly statements and of
course, we encourage you to contact us anytime you have a question or wish to discuss
something.
If you are a worrisome property owner who always needs constant contact, such as a phone
call before every repair, then we may not be a good match for your needs. The property owners
who appreciate us the most are those who truly want everything handled for them and don't
want to be bothered unless something important is happening. That is the type of peace of
mind and property management service we offer you.
How do you handle maintenance requests?
Tenants may phone, fax, mail, or email their requests to us. After we receive a repair request,
we may contact the tenant and ask them questions in order to help us determine the exact
nature of the problem before sending out a service technician. We also check to see if it is
something simple that can be solved over the phone without having to incur a cost to you.
After determining that it is a legitimate problem, we will fill out a work order and assign the
work to be done. Most repairs are scheduled within one to two business days.
Will someone contact me for my approval if a large repair is necessary?
This is a legitimate concern. Ordinary repairs which amount to less than $300 will
automatically be taken care of by us without notifying you. You will find out when you receive
your monthly statement. If we think a repair might exceed $300, then we will call you and let you
know what is happening, what we think should be done, and what the estimated cost might be.
Sometimes expenses such as replacing a bad water heater, a roof leak that needs patching or
repairing, or emergency furnace repairs are unavoidable. In the following cases we will initiate
the repair work even if it is higher than the $300 limit.
However, we will still let you know immediately what the situation is and what we are going to
do about it. We don't believe important repairs should be delayed while we are trying to contact
you for permission to do the obvious.
How much is your monthly property management fee?
Our property management fee ranges from 10 to 11 percent of the gross monthly rent (there is
a $55 minimum). The actual percentage you pay is determined by how many units we manage
for you.
Our leasing fee for filling a vacancy is the first month's rent. The following is a list of advertising
costs we absorb when leasing your units: MLS fees if used, Internet marketing, for rent signs,
and lock boxes. We also will absorb the fees if it becomes necessary to hire outside
professionals to help facilitate the rental process.
Are your property management fees the lowest?
We don't have the lowest fees in the area and we certainly don't have the highest fees. Instead
of competing with other property management companies on price, we compete on quality.
Smart consumers understand that you tend to get exactly what you pay for.
The ultimate cost of using a property management company is determined by many things
other than the fee charged. Namely, the efficiency and manner in which maintenance and
tenant relationship problems are handled. We feel that our set of services, our systems, and
the experience and expertise we offer are a great value at the fee structure we have
established.
Besides...we are so confident in our services, that we offer a sensational "No Risk" Guarantee
to our clients that they would be crazy to pass up on.
When can I expect to receive my check and statements?
Owner's checks and statements are mailed out via first class mail on or before the 17th for that
month's activity. For your convenience owners with internet access and an email address can
check their statements online in real time. Electronic Funds Transfer is also available for quick
and easy payments.
Contact us online today or call our toll free number (1-888-284-3576 Ext. 82) to set up a
no-obligation consultation to discuss your property in detail.
management services.
What type of rental properties do you manage?
We manage single family homes, duplexes, four-plexes , as well as small apartment
buildings containing up to 12 units.
What areas do you work in?
Our property management service area consists of Buffalo NY: East Side, North Side, and
Riverside.
What will you do to rent my property?
- For Rent Signs: Signs are posted at the property and if at all possible prior to the unit
becoming vacant. It has been our experience that a great majority of potential tenants
are found because of a sign being posted.
- Website: We post available listings on our website as well as other local websites that
provide property listing services.
- Referrals and word of mouth: We are able to get tenant leads form our current and past
tenants as well as other real estate investors we network with.
- Correct pricing: Even the nicest and best homes will not get rented if they are
overpriced. We make sure that your rental unit is priced according to current market
conditions.
- Newspaper: We advertise in the local Homefinder paper which the majority of tenants
looking for apartments use.
What do you do to qualify a tenant after they have applied to rent my unit?
We feel that this is the most important aspect of the successful management of rental property.
In general, we look at the applicant's past behavior in order to help us determine their future
behavior.
An applicant must demonstrate a history of being a good, responsible tenant or homeowner
and they must meet our minimum income and credit requirements. We process all
applications in-house and verify that their information is correct and accurate.
- Landlord Reference: We personally talk to the current and past landlord and ask
detailed questions about the applicant's performance. We also verify that the landlord
listed on the application actually owns the property.
- Employment/Income: We contact the employer, verify length of employment, status,
and income. An applicant's gross monthly income must at least be 3 times the monthly
rent in order to qualify for the rental unit. We also request a copy of their current pay stub.
- Credit Report: We obtain a current credit report which reveals the applicant's current
and past performance in meeting their financial obligations. It also tells us their
monthly debt, credit score, and shows their previous addresses (which is used to
compare with the addresses listed on the application).
- Current Residence Check: we will pay a visit when possible to the applicant's current
residence to determine how they actually treat the property they are now living in. It
stands to reason that if they are treating their current rental poorly, then they will do the
same with yours, and in that case...we don't want them. Most other property
management companies don't do this important step.
How do you make sure the tenant is taking good care of my rental property?
First and foremost, careful tenant selection from the outset helps protect your property from
being rented to irresponsible tenants. As a part of our service, we will perform an exterior
inspection of your property at least twice a year and we will do an internal inspection upon the
tenant's lease renewal.
During the lease term if a repair becomes necessary, we will use that time to inspect the
interior of the property. We will send you a copy of any inspection reports that are conducted.
What happens if the tenant does not pay their rent?
If rent is not received by the 4th of each month, we immediately send the tenant a series of late
notices. If we still do not receive the rent then we will send the tenant a notice of our intention to
proceed with eviction if their rental payment is not brought current within the specified amount
of time. Our next course of action involves contacting the rental owner to discuss initiating
eviction proceedings against the tenant.
Whether or not we eventually have to proceed with a formal eviction depends on the specific
circumstances. It is always financially better for everyone involved if a solution can be worked
out. If the tenant has experienced a one-time event causing them a financial hardship, and we
have had no previous problems with them, it is better for you and the tenant if we give them a
chance to catch up - if there is reason to believe they can do so.
If the tenant has demonstrated an ongoing pattern of late payments, broken promises about
payments and/or evasiveness, we know from experience that eviction is the best course of
action. Remember, each case is unique and we will make a decision based on what is best
for you and your property in the long run.
How informed will I be about what happens with my property?
Absent any special considerations unique to you or your property, our rule of thumb is this: If
something may cause a potential interruption in your ordinary cash flow (loss of tenant or non-
emergency repair in excess of $300), we will let you know about it right away. Other than that,
we believe in the saying: "no news is good news".
Non emergency items will be communicated along with your monthly statements and of
course, we encourage you to contact us anytime you have a question or wish to discuss
something.
If you are a worrisome property owner who always needs constant contact, such as a phone
call before every repair, then we may not be a good match for your needs. The property owners
who appreciate us the most are those who truly want everything handled for them and don't
want to be bothered unless something important is happening. That is the type of peace of
mind and property management service we offer you.
How do you handle maintenance requests?
Tenants may phone, fax, mail, or email their requests to us. After we receive a repair request,
we may contact the tenant and ask them questions in order to help us determine the exact
nature of the problem before sending out a service technician. We also check to see if it is
something simple that can be solved over the phone without having to incur a cost to you.
After determining that it is a legitimate problem, we will fill out a work order and assign the
work to be done. Most repairs are scheduled within one to two business days.
Will someone contact me for my approval if a large repair is necessary?
This is a legitimate concern. Ordinary repairs which amount to less than $300 will
automatically be taken care of by us without notifying you. You will find out when you receive
your monthly statement. If we think a repair might exceed $300, then we will call you and let you
know what is happening, what we think should be done, and what the estimated cost might be.
Sometimes expenses such as replacing a bad water heater, a roof leak that needs patching or
repairing, or emergency furnace repairs are unavoidable. In the following cases we will initiate
the repair work even if it is higher than the $300 limit.
- The health or safety of a tenant is an issue
- There is only one option to consider
- The property will incur damage if immediate action is not taken
However, we will still let you know immediately what the situation is and what we are going to
do about it. We don't believe important repairs should be delayed while we are trying to contact
you for permission to do the obvious.
How much is your monthly property management fee?
Our property management fee ranges from 10 to 11 percent of the gross monthly rent (there is
a $55 minimum). The actual percentage you pay is determined by how many units we manage
for you.
Our leasing fee for filling a vacancy is the first month's rent. The following is a list of advertising
costs we absorb when leasing your units: MLS fees if used, Internet marketing, for rent signs,
and lock boxes. We also will absorb the fees if it becomes necessary to hire outside
professionals to help facilitate the rental process.
Are your property management fees the lowest?
We don't have the lowest fees in the area and we certainly don't have the highest fees. Instead
of competing with other property management companies on price, we compete on quality.
Smart consumers understand that you tend to get exactly what you pay for.
The ultimate cost of using a property management company is determined by many things
other than the fee charged. Namely, the efficiency and manner in which maintenance and
tenant relationship problems are handled. We feel that our set of services, our systems, and
the experience and expertise we offer are a great value at the fee structure we have
established.
Besides...we are so confident in our services, that we offer a sensational "No Risk" Guarantee
to our clients that they would be crazy to pass up on.
When can I expect to receive my check and statements?
Owner's checks and statements are mailed out via first class mail on or before the 17th for that
month's activity. For your convenience owners with internet access and an email address can
check their statements online in real time. Electronic Funds Transfer is also available for quick
and easy payments.
Contact us online today or call our toll free number (1-888-284-3576 Ext. 82) to set up a
no-obligation consultation to discuss your property in detail.
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