Frequently Asked Questions
How long will I need to sign a lease?
Typically minimum is one year. On occasion we have agreed to two, three, four years. This locks in the rental rate for our tenant who might know specifically how long they will be in the area.
Can I do month to month after my lease ends?
In our leases, we have a month to month holdover period which is 150% of the rent. We need structure and must plan on vacancies so we do not encourage a month to month timeframe. In a rare instance we will consider a shorter lease renewal timeframe.
Do we accept pets?
This is considered depending on property, type of pet, size of unit, pet history, and willingness to pay a pet fee of $200 year.
What is my security deposit used for?
This deposit is held in escrow separate from rental income. It is held in the case of damage to the unit, breaking a lease, and owning some portion of rent. This is returned to the tenant after the lease has ended and we can determine the property is clean, free of debris and in good condition. The tenant must give a 30 day written notice of intention 30 days prior to the end of the lease.
What does rent cover?
Rent in most of the condo buildings include water, garbage removal, snow removal, parking, and condo fees. With houses, rent simply covers the house but no utilities, trash, cable, or yard cutting and management.
When is rent due and is there a late fee?
Rent is typically due on the first of the month. Late fees are $10 per day. We ask each tenant to set up auto deduction to prevent late rent and make it easier to keep track of.
Is renters Insurance required?
It is not required but highly recommended. If there is a catastrophe, fire, or water damage, our insurance for the property will cover the property only. Your belongings are not covered. I can recommend an agent who is priced well on getting coverage.
What will be expected of me during my lease?
We will expect you to keep your home free of debris or trash, reasonably clean, furnace filters changed monthly which we will show you, and reporting any problems to us regarding your home. If you are renting a house, we expect a nice yard and keeping your home up to the standards we list in your lease.
What are the consequences of terminating a lease early?
A lease is a legal agreement. You are required by law to fulfill it even if it is continuing paying your rent when you are not there. We understand special circumstances occur such as divorce, job transfers and we will in special circumstances try to lease the property for you during your lease. You will be responsible on paying your rent until we have found your replacement less cost of advertisement and upkeep.
Can I do a lease option?
Some landlords have begun to offer lease options but if you read the fine print you will see it is not always a good choice. It insures you will buy the property for a specific cost, putting a decent deposit down, and then getting your financing in a set number of years. If you do not get financed according to the timeframe you lose your deposit and none of the rent is applied. If you change your mind on the property, you lose your money. You do not get the tax interest to write off on your taxes. That is usually the case with lease options. We do not do lease options or believe it is as beneficial as most people think. We would advice you to contact an attorney if you are considering signing a lease option with any real estate company.