- 6 Month Guarantee
- Direct Deposits
- 10 Questions to Ask
Q: Will I expect many repairs on my house during tenancy?
A: We encourage any homeowner to budget 5% for repairs, older properties may require more repairs.
Q: How are repairs handled?
A: Archwater will handle repairs under $300.00 and contact the owner should any one repair look to exceed that number, this is done so as not to bother the owner at 2a.m with an approval for a $ 75.00 plumbing repair as an example.
Q: My home has old appliance?
A: Older appliances, A/C will generally become a problem sooner or later, Often times the cost to repair an old dishwasher as example, is higher than buying a new one. We encourage all owners to consider appliances that are less than 5 years old if possible. Otherwise don’t be surprised to see repairs on your statement.
Q: Can I use my home warranty?
A: No, we have difficulty getting 3rd party repair services to respond with-in an appropriate time frame, which causes problems for the tenants. Also we require copies of all our venders, licenses and current insurance, we can not risk your home or our tenants safety sending in unknown repair contractors.
Q: Does the Archwater add money on top of the repair bill like other rental companies do?
A: No, most firms will charge 10% on top of the repair bill, however we feel that just encourages the firm to want repairs, we don’t like repairs anymore than the owners, but they need to get done. We do charge a small Accounting fee, that’s it.
Q: How often will I hear from The Archwater?
A: During the listing of your property, our agents will keep you in contact with the showing and notify you upon tenant placement, however if we manage the property for you, our goal is really to handle all the headaches and concerns without involving the owner. We will handle all that we can and forward you a check and statement each month.
Q: Will I receive a statement
A: yes, each month you will receive a breakdown of the events at the house and the gross to net proceeds.
Q: When will I get my rent check?
A: Assuming the tenant makes good on their rent payment and on time a payment will be sent to you around the 10th of each month.
Q: Who is responsible to pay for the repairs?
A; Assuming we approved the repair ( we deny certain tenant requests) and the repair is not the fault of the tenant, the owner is responsible for the repair.
Q: Who handles the grass and private pool?
A: The owner is responsible to hire or have our firm hire an outside source to care for the lawn and pool,. It is not wise to put a tenant in charge of pool and lawn care as this will cause major problems down the road. We adjust the rent rates to cover the pool and lawn care. Remember the objective is to have a nice clean property at lease turn in, not a dead lawn because the tenant thought they knew how to care for it.
Q: Can I get a copy of the tenants credit report?
A: NO. That is due privacy protection for the tenant and we cannot even share the report with the tenants themselves.
Q: Can We customize or Owners agreement?
A: NO. In order for our firm to be effective and keep costs down for our owners we need to keep our management and its contracts consistent.
Q: Who choses the tenant?
A: Archwater will run a full background report and review the tenants application. if they do not meet our requirements, but we still feel they might be an ok tenant, we will obtain the owners consent. A good example would be if they have poor credit due to the recent economic events, many good quality people just have incurred financial difficulties that they normally wouldn’t. We investigate thoroughly
Q: My Rent check is late?
A: In some cases Tenants do not pay on time. We then follow the appropriate procedures to handle these occurrence. Usually the tenant pays and we then forward the owner his/her check, but the time frame is pushed forward.
Q: My property has been on the market a long time and still not rented?
A: Although the market is still saturated with rental homes and companies that place tenants with no Security Deposits, we usually place a tenant with-in 30 days of listing, the only main reason a home will not rent is the price being too high. We have owners that insist on un realistic rent rates, and homes sit.