Property Management | Real Estate Investor Sales | (727) 447-5100

Property Management Frequently Asked Questions

What’s the difference in Tenant Placement and Full Management?

  • PLACEMENT ONLY SERVICE you will sign a limited agreement allowing us to market the property on your behalf. This contract is exclusive. The contract allows us to begin marketing your property by placing a sign in the yard, entering it into MLS (we co-broke), multiple other sites such as Zillow, put a lockbox on the property for our agent and other agents to use. We never give access to your property to a customer not accompanied by one of us or another Realtor. You give us permission to take and process an application, including credit report, criminal background and sex offender check. In addition we contact previous landlords and verify employment and income.
  • Once we have a tenant we feel is qualified we share our knowledge with you. If you are satisfied with the applicant, we will proceed. At that point we will have the applicant put forth the first month’s rent and enter into a contract to lease. No property is taken off the rental market until we have the first month, non-refundable rent in hand.
  • The property then enters its final stages of preparation and at time of lease start the full lease will be executed and access given to the tenant. You will receive the lease by mail to execute and return to us. You must return at least a copy of the fully executed lease to us.
  • FULL PROPERTY MANAGEMENT SERVICE includes all of the above, but we will assume the responsibility of collecting rents, enforcing late fees (if necessary), taking and responding to maintenance and repairs calls.

How long will it take to rent my property?

  • This is usually the first question asked by a landlord. Truth be told, we do not know. We do know it will take longer if your property is not market ready, priced appropriately, and marketed well.

Will you tell me what I need to do for my property to be rent-ready?

  • Yes! First impressions count and Professional Real Estate Management wants your property to look its best and compete with other area rentals. We will complete a cosmetic inspection and discuss with you the details and any necessary maintenance for marketing success.

How do you determine my property’s rental value?

  • Rest assured, we want to get you the highest value that the market will bear. After all, the more you make, the more we make. But that value depends on supply and demand, the product offered compared to the competition. We will guide you toward proper pricing through analysis of the current rental market using properties comparable to your specific property.

How will you advertise my rental property?

  • Our marketing is pervasive throughout the internet. We also use Multiple Listing Service which makes your rental information available to thousands of licensed Realtors throughout the market area. Our agents are diligent about showing our properties and are available to show M-F 8:30-5 and Saturday 9-2.

How do you screen prospective tenants to make sure we’re getting the best tenant possible?

  • Our application includes a full credit report, nationwide criminal and eviction search and a sex offender registry search. We also verify rental references and employment and income.

How do you collect rental payments from tenants?

  • We write our leases in most cases to begin on the move-in date of the tenant. That means not all leases have a due date of the first. If a tenant moves in on the 10th, their lease and due date will be the 10th.
  • Tenants have choices for their delivery of payment. They may hand deliver, deliver by mail, or access our online services and pay through our online portal (ACH). However their rent is delivered, it is deposited into our account the next business day.

How and when will I get my rental proceeds?

  • Our turnaround time for Owner disbursements is 3-5 work days from receipt. This may be slowed minimally by bank holidays. Our goal is to get your money into your hands as quickly as possible. You may opt to receive your funds by mail or through our bank to bank disbursement which directly deposits the proceeds into your account. There is a three banking day delay in the funds actually being in your account from the time we execute the deposit here (ACH). We highly recommend direct deposit by ACH!

How do I sign up for ACH deposit of my rental proceeds?

  • Signing up for the ACH is easy, but we will ask you to please not email or fax any banking information. This must only be delivered by mouth to our agent at time of listing or directly to our financial officer on the phone.

Will I get an accounting of my funds?

  • You can access all of your financial information, generate custom reports, see and download repair invoices, lease documents, inspection reports and much more 24 hours a day, 7 days a week at your online Owner’s portal. There’s even a free app you can download and use on any of your smart devices!

What happens when something breaks at my property?

  • While you are our Client, the Tenants are our Customers. You can’t have one without the other. This is the area of our business that gets the toughest often to manage. What to a tenant is an emergency, to an Owner may be a mere inconvenience. Believe us when we contact you, it is neither an emergency, nor an inconvenience. But it is something that needs your attention.

Who makes the repairs when something breaks at my property?

  • We are not a maintenance company. We work with local qualified vendors who are licensed and insured in their own business. We take no cutbacks from these vendors and any credits or discounts applied due to our volume of business are credited to your account, not ours. Most of these vendors will wait 30 days for payout due to their repeat business on behalf of our Owners. There is no incentive at all for us to push for unnecessary repairs or maintenance.
  • If you have your own vendors that you prefer to work with you must provide us with their contact information at time of listing. We will then coordinate the necessary maintenance and repairs with the vendor and the tenant on your behalf.

What does the maintenance/repair process look like?

  • Once a tenant has reported an issue to our office and our agent determines that service to the property is necessary, that agent will initiate a WORK ORDER on our computer network. This WORK ORDER will be emailed to the chosen vendor and to YOU. This notification will alert you that work is needed at your property. It will not determine exactly what is needed to be done, but what the issue is that needs attention.
  • You should expect that there will be a service call, which usually includes the first hour of work to correct the problem. If the technician gets to the property and determines that the expense will exceed the $300.00 you have by contract authorized, he will call the office for authorization and we will notify you for approval. If the vendor is at the property and can resolve the problem within the $300.00 limit, the repair will be done immediately.
  • You are made aware in advance the work is happening. If you have questions or concerns, simply reach out to whichever agent sent out the work order initially for follow up.
  • The expense of that repair will be paid from the upcoming month’s rent.

How do vendors get paid when they do work at my property?

  • With us you are not required to have reserves in your account. Every month your account here is emptied with any balance sent to you. Smaller repairs, plumbing leak, clean AC condensate line will be paid from your following month income. Copies of each receipt will be uploaded to your online Owner’s Portal. You will be called upon to put up a credit card to pay directly to vendor, or mail a check for large expenses like roof and AC replacement.

How do you handle lease renewals at my property?

  • We will reach out to you 45-60 days prior to the lease end to discuss options for renewing the lease. With the information agreed upon from that discussion, we will notify the tenant of their offer to renew with changes to terms if any. If the tenant is renewing we make an appointment to meet them at the property, inspect and sign extension. Otherwise they must render in writing their intention to vacate. 30 days’ notice is required of either party.

What happens if my tenant doesn’t pay rent?

  • When a tenant is late in rent, we issue a Three Day Notice to pay or vacate. This is usually mailed to the property. If there is no response by the date required by the notice, we reach out to the tenant to determine what is holding up their payment. If there is a short term issue and payment arrangements can be worked out, we do so. If the tenant will vacate willingly, we encourage them to do so. We work to save you the cost of an eviction. Otherwise we will advise you as Owner that eviction is our only remaining option.

Do you charge tenants late fees?

  • The lease provides the tenant a 3 day grace period. Any payment after that is subject to a 10% late fee at the Broker’s discretion. Late fees are considered rent and are treated as such.

Do you handle evictions of delinquent tenants?

  • Florida Law requires any institution of eviction or damage proceedings against a tenant, through the courts, be taken by the Landlord/Owner individually or an attorney. We work closely with a local attorney who will be employed by us, on your behalf, (with your permission) to proceed through the eviction process. Cost of eviction is usually $800-$900 and must be paid by the Owner. A $500.00 binder is required and must be paid up front.

Is your management agreement with me exclusive?

  • This is what allows us to enter it onto the MLS and other websites. If you have been advertising yourself, that advertising must cease.

How long does our agreement stay in place?

  • Our contract is bound to the time the tenant remains in lease. If the tenant renews after the first year and into consecutive year(s), our management agreement automatically renews.

Can you sign leases and notices of commencement for permitted work on my behalf?

  • Absolutely! Our management agreement give us limited Power of Attorney to do just that.

Can you authorize minor repairs without waiting to hear back from me?

  • You will authorize us to initiate repairs up to $300.00 without your explicit approval.

How long of a term are your leases written for?

  • We only write 12 month leases. We do not write short term leases nor, do we write multi year leases. This is due to the State and County taxes charged on leases for 6 months or less and a quirk in State Law which could cause a judge to invalidate a multi-year residential lease.

What is your policy regarding pets in my rental property?

  • Seventy-eight percent of those living in America have at least one cat or dog. We encourage allowing a pet on the property due to these numbers. We will work with you individually to determine the best policy for your property when allowing a pet, size, number and breed. We exclude eleven breeds completely. This is based on insurance companies’ recommendations. We do charge tenants a one-time $300.00 non-refundable pet fee in your behalf.

What about Service Animals?

  • “Service and Assistance Animals” for persons with disabilities are NOT pets by Federal law, and Landlords cannot refuse to accept them Fair Housing legislation does NOT allow Landlords or property managers to collect deposits of any kind for these animals.

Do you regularly inspect my rental property?

  • We do thorough screenings of tenant applicants and feel comfortable that they will perform well for us. Unless there is just cause for additional inspection, we inspect the property annually. At this inspection we are not only looking at the tenant, but looking at the property. Of course, we can judge and report the tenant contributions to the condition. We are looking for the things a tenant might not report, soffit, fascia, mold possibilities, AC filter condition, yard care, condition of trees and roofs. We will not inspect your property every three months. We consider this an intrusion on the tenant’s leasehold right of quiet enjoyment. You may speak to your agent individually if you have other ideas. Inspection reports will be available to you at your online Owner’s Portal.

I want to remodel my rental home. Can you help me with that?

  • We are Not General Contractors. We can and will oversee repainting of properties, carpet replacement, lawn and pool services, appliance, AC and roof replacement. We will oversee general maintenance for no additional charges. We will not oversee the remodeling of the property, new kitchen and baths, total window replacement, repair foundations, fire or major damage restoration or rehabilitation, mold remediation. We can direct you to others licensed to complete such services. We expect to receive the keys to your investment initially in turn key ready condition.

Can you pay my monthly mortgage and help prepare my taxes?

  • Normal Property Management does not include making mortgage payments, refinancing, obtaining or giving income tax, accounting, or legal advice, representation before public agencies, advising on proposed new construction, debt collection, counseling, or attending Homeowner’s Association meetings.

What happens when my tenant moves out?

  • Upon receipt of keys from the exiting tenant, one of our agents will inspect the property to determine if there are any causes for making a claim against security. If the unit is not left clean, the carpets have not been cleaned, blinds are broken or other damages determined, we will begin immediately to prepare the property for showing.

Do I have to turn utilities on during periods of vacancy?

  • You as Owner are responsible for utility services, (electric & water) during vacancies. We must have those services in place in order to do repairs and cleaning.

Who handles any claims on the tenant’s security deposit should it be necessary?

  • Claims against Security Deposits will be determined by the Broker of Professional Real Estate Management as allowed by law.
  • Any expenses incurred to prepare the property for remarketing that are the result of tenant failure to clean or maintain will be paid from the tenant’s Security Deposit and claimed as such in accordance with the Landlord/Tenant Act of the State of Florida.

What are my responsibilities as a Landlord in the state of Florida?

  • Cooperate with Fair Housing Laws and guidelines, as well as all necessary legislation.
  • Exercise responsibility for required maintenance and the safety of your tenants and property.
  • Give us all ownership contact information accurately, address, phone, email.
  • Notify us immediately if you move, legal ownership changes, or changes to any of your contact information.
  • Tell us of any hidden defects you are aware of regarding the property itself.
  • If your property is in a Condominium or Homeowner’s Association, give us all contact information for those associations and provide a copy of the rules and regulations that govern those associations.
  • Your property, even a condominium, MUST BE INSURED. Provide us with proof of insurance.
  • Respond to email or phone messages from our office within two business days. We are reaching out because we are requesting your input. If you do not respond, we will consider your non-response as authorization to move forward.
  • Notify Professional Real Estate Management in writing if you are going to be away from your contacts for two weeks or longer. This will alert us to prepare for emergency action if necessary.
  • When Professional Real Estate Management rents a property we expect that the tenant will have access to the entire premise in full. (All rooms, sheds, attic and closets). PREMIS will not be responsible for landlord property left on the premises.
  • Professional Real Estate Management does not assume responsibility to pay any owner’s mortgage, insurance, taxes, condo or HOA fee, or utilities. During terms of vacancy you will be required to have utilities in your name, mailed to your address. If you fail to turn on those utilities when needed, we will not be able to clean, service, or market the property.
  • Notify PREMIS immediately if you become insolvent and are not able to pay any of the responsibilities of ownership described in the previous bullet.
  • Provide PREMIS agent with three (3) sets of entry keys to the property, two (2) mailbox keys, two (2) gate passes, two (2) garage door remotes, two (2) security passes, as they apply to your specific property.
  • If your property has a swimming pool or spa the Landlord is responsible for ensuring pools have approved safety fences and all above ground spas have approved safety covers to prevent accidental drowning. There were 51 accidental child drownings in swimming pools or spas in Florida in 2017. Please see Florida Legislation regarding swimming pool safety.

Are you bound by any particular laws or codes when leasing residential rental properties?

  • Professional Real Estate Management (PREMIS) follows local, state, and federal legislation and guidelines. We take a professional pride in implementing the guidelines that make our communities and neighborhoods safe and protect health and safety. Ultimately such guidelines protect your investment also.
  • Our agents working with contracts, leasing and sales are licensed through the Florida Real Estate Commission and held accountable by the ethical standards of the Pinellas Realtor Organization and National Association of Realtors. This licensing requires regular refresher courses for continued licensing that update changes to Landlord/Tenant Law and general real estate practices within the State.
  • Our licensed Realtors® and Broker Associates follow the Code of Ethics as established by National Realtors Association and enforced by the Florida Realtor Association and Pinellas Realtor Association.
  • We comply with all Federal legislation including:
    • HUD-Fair Housing Act 1968//1988
    • SCRA-Service Member Civil Relief Act
    • FCRA-Fair Credit Reporting Act
    • EPA – Environmental Protection Agency -Lead Based Paint Disclosure Act
    • IRS – Internal Revenue Service- Reporting as it applies to US citizens, resident and nonresident foreign investors
  • We also comply with all State Legislation including:
    • ULTRA – Uniform Landlord/Tenant Act Chapter 83 Florida statutes
    • Florida Service Member Civil Relief Act
  • City Codes and Regulations relating to Rental Property and Housing in general (these will vary city to city) for example if your property is in Clearwater or Belleair, the City will require a business license (no hassle, we’ll get that done for you).

What’s the best way for me to communicate with Professional Real Estate Management?

  • Professional Real Estate Management encourages you to communicate with us. Clear communication is critical to a successful business relationship. Reach whichever of us you need through email or just call the office during normal business hours. We will respond.

Will I ever have to communicate directly with the tenant?

  • We do ask that you absolutely refrain from communicating directly with your tenant. Professional Real Estate Management must be the first and last point of contact for the tenant. This avoids confusion where a tenant might tell us “but the Owner said….” when we have no direct knowledge of what was or wasn’t said. You communicate with us, we communicate with the tenant. The tenant communicates with us, we communicate with you.

Can you help me find another rental property to buy?

  • Absolutely! When you are ready to add to your portfolio, we’ll be more than happy to assist. We specialize in residential real estate investment here in Pinellas County, Florida.

I’m ready to divest and close my real estate portfolio, can you help me with that?

  • We sure can! Our primary focus is Landlords, from first investment through Management to finally cashing out. We’re here for you.

Where is your office located?

  • We’re located in Clearwater, right in the middle of Pinellas County, Florida. Our location allows us to serve properties from St. Petersburg to Tarpon Springs including Belleair, Largo, Seminole, Dunedin and Palm Harbor.

When is your office open?

  • We’re open 8:30am to 5:00pm Monday through Friday.

What happens if there’s an after-hours emergency at my rental property?

  • We have a 24-hour emergency line available for after-hours tenant emergencies.

Why should I choose Professional Real Estate Management to manage my rental property(s)?

  • We are a family owned business. Our family of owners and operators has entered its fifth generation in Pinellas County. We bring a unique understanding of the local economy, society, infrastructure, changes, challenges and rewards of investing in Pinellas. It is our mission to provide the highest quality of professionalism and integrity throughout our business relationships. We have built our business with the understanding that …your success is our success.
Have a question you still need answered? Just give us a call at 727-447-5100 or send an email to: info@PremisRealty.com