Owner FAQs
Answers to your common questions
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How is rent collection handled?
- Rent is due on the 1st of each month and considered late after the 3rd at 5:00 pm.
- Eviction proceedings commence on the 8th of each month unless Tenant has made prior arrangements.
- Direct Deposit sends the disbursement of the Owner's funds or a Check by mail.
- Owners set up via Direct Deposit typically receive funds on or before the 10th of each month.
- Paper checks are mailed by the 13th of each month and can take up to 5 business days to receive.
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When will I receive my end-of-year financial statements?
- Year-end statements provide a complete account summary of each transaction posted on your account during the year.
- The statement will be mailed with your 1099 and accessed through your online owner’s portal.
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Do you manage furnished properties?
The owner may choose to rent the property furnished. Furnished properties are sometimes more difficult to rent, and applicants may want to bring in their furniture. If the owner is willing to be flexible, the owner would require the removal of the owner's furniture. Wear and tear on furniture is to be expected over time. -
How do you handle home warranty claims?
- The best defense against costly repairs is to purchase a good home warranty plan.
- Home Warranties can cover structural, plumbing, appliance, and electrical repairs. The coverage depends on the Home Warranty plan purchased.
- Home Warranties deal with their preferred vendors.
- Service Charges apply should the Home Warranty be called to the home for any repairs.
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What are the insurance requirements for homeowners?
You should contact your current insurance provider to upgrade your policy to include renters' insurance. Please provide a copy of your policy for our records. -
How often do you inspect my property?
When a property management agreement is signed, the property undergoes an initial inspection. The purpose of the inspection is to help the owner lease the rental property seamlessly and promptly. Some suggestions include cleaning the carpets, making them clutter-free, freshly painting them in neutral colors, and maintaining the landscaping. The more preparation is done upfront, the less the applicant will request before occupancy.
Upon the applicant's approval, a Tenant move-in inspection will be conducted. The results will be provided for your records and include detailed property photos and a DVD Walk-Through. These are for informational purposes only and not to be used for marketing.
After the tenant's occupancy, the home will be inspected within 60 to 120 days to observe its condition.
Additional inspections are conducted if the tenant has not properly addressed an HOA violation and requires additional attention.
Inspections will also be completed should the Tenant decide to renew the lease for another year or upon the property's vacancy.
Additional inspections may be conducted at the owner's request and may require an extra fee. -
What’s included in the management agreement?
- The owner employs a broker as the sole and exclusive agent of the Owner to manage the property upon the terms and conditions provided.
- The term shall be for an initial period of 1 year.
- The agreement automatically extends 1 month past the expiration of the lease agreement.
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Can you make my mortgage payments for me?
RPM does not maintain Mortgage Payments. -
How do I access the Owner Portal?
- Owners can access their monthly accounting statement through the online owner’s portal anytime. The statement will include rents received, deducted management fees, and any other expenses.
- Owners can contact our account manager for copies of any work orders or invoices.
- RPM will post updated statements by the 15th of each month.
- To access the website, see the home page.
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What is your pet policy for Tenants?
Pets are considered on a case-by-case basis by the owner. Photos of the pets are required at the time of application. No pet shall be on the premises without the owner's written consent.
An additional security deposit will be required at the time of lease signing. -
How are repairs and maintenance requests managed?
Any costs exceeding $500.00 must be approved by the owner in advance, except in an emergency where repairs are immediately necessary for the preservation and safety of the property.
Tenants are responsible for any minor repairs necessary to the premises, including $75.00. Tenants are to change the air filters every month and are responsible for any heating or cooling system repair due to neglect of monthly maintenance. Tenant is to maintain lawns, shrubs, trees, and the sprinkler system in good condition.
The tenant can submit repairs and emergency requests online. The Tenant's lease also provides an after-hours emergency number.
All our preferred contractors are licensed, bonded, and insured.
Any work orders submitted will be provided to the owner with their monthly statement. -
How do you handle security deposits?
- Security Deposit Trust Account, Broker shall maintain a separate Security Deposit Trust Account for security deposits, cleaning, pet, and other deposits.
- Deposits are based on the monthly rental amount and the tenant's credit status, up to three times the monthly rent amount.
- Deposits are refunded to the Tenant within 30 days of the Tenant's move out.
- Deductions from Security Deposits can include general cleaning, carpet cleaning, maintenance and repairs, unpaid utilities, landscaping, and painting.
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What is your smoking policy for rental properties?
Smoking is not permitted in any of our rental properties. Tenants are, however, allowed to smoke outside. If there are any signs of smoking inside the home, the tenant will be responsible for cleaning or smoke removal services.
The non-smoking policy has not affected the marketability of the rental properties. -
How do you screen and qualify Tenants?
A complete background check includes verification of current and previous Tenant history, current and previous employment, credit history, contact personal references, and to receive any criminal history information about the applicant that may be found in federal, state, or local criminal justice agency files, and to verify any other information deemed necessary to fulfill the Tenant requirements.
Some criteria used in qualifying prospective Tenants include a credit rating of 600 or above, dependable rental history, and an applicant’s income of at least three times the monthly rent. If the applicant does not meet the standard requirements, an additional security deposit of up to triple the rent may be requested. The owner will also make the final decision during the approval process.