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Landlord FAQ

Landlord FAQ

Florida Landlord Information Center

Frequently Asked Questions for Owners

When do I get my money each month?

The rental funds must clear their banks before we can begin disbursing funds. It usually takes two weeks for such clearance. We begin the payment of bills on the fifteenth. Statements to owners, along with their ACH deposts, go out between the 20th and 30th. The statement will have all activity on the account for that month.

What are the initial rental fees and how are they collected?

It is generally preferred to collect first and last month’s rent plus a security deposit. We normally collect a refundable security deposit totaling one month’s rent. The property is automatically professionally cleaned between each tenant. The security deposit is held in a Palm Beach Managers’ escrow account.

How will Palm Beach Managers find tenants for my house? How long will it take?

Your home will immediately be put on our list of available properties utilizing all avenues of advertising: MLS, external signs, internet, open houses, newspapers, etc. We are in frequent contact with many real estate brokers In Palm Beach County as well as Government placement agencies.

It normally takes two to four weeks to rent a home. A home goes on the list of available properties as soon as we receive notice from the existing tenant and permission from the owner to re-rent.

Many factors affect the speed with which a property rents including supply/demand, time of year, location, and condition. Our property manager will recommend a market rent based on these factors.

How is the property protected if the tenants cause damage?

In most cases, the security deposit collected upon move-in is more than adequate to repair the minor damages caused by tenants. Tenants with excellent credit and references seldom cause much damage and almost never in excess of the security deposit. Our screening company checks criminal, credit and eviction records as well as job history and landlords.

Should the tenants leave the property owing more than is covered by the security deposit, they will be billed. If they do not pay, it will be turned over to a collection agency.

Can I use my own service personnel to make repairs to my property?

We are more than happy to work with your service personnel. However, we do require that you allow us to schedule our own appointments for service at your property.

How do I get my house ready to rent?

Your home must be left in professionally cleaned condition. Your property manager prefers to arrange this cleaning to ensure that the cleaning guidelines are strictly followed. The carpets must be freshly cleaned and all debris and personal belonging removed from the house.

You should consider painting any room that has dirty or marred walls. A neutral color is best. Your property manager will be happy to discuss any necessary repairs or painting with you. Neutral window coverings such as blinds should be left, but not curtains that match a particular bedspread or couch.

Whether or not the washer, dryer, or refrigerator should be left depends on the property. You should discuss these questions with your Property Manager.

The tenants are requested to maintain the yard in the condition it is provided to them. Therefore, the yard should be freshly mowed, weeded, trimmed and the leaves and debris removed

What does Palm Beach Managers do if the tenant does not pay rent on time?

The rent is due on the first of each month and considered late after the fifth. If payment is not received by this date a “72-Hour Notice” to pay the rent or vacate will be delivered to the tenant. If they have not paid by the end of the notice period, we will notify the owner and file at the courthouse for a FED (eviction) hearing, which will be within ten to fourteen days. Palm Beach Management uses an eviction service this saves time and aggravation the flat fee is $400. The faster we get rid of a bad situation the quicker we can get a more qualified tenant in place.

Will I get called in the middle of the night with emergencies?

Our property managers get the emergency calls. You will never be called in the middle of the night! Your will be notified via you on line owners portal of what is going on with you property.

All non-emergency repairs come to us as a work order request submitted by the tenant. If it is a repair essential to the maintenance of the property and less than $200, the repair will be ordered and you will see an entry for the payment of that bill in your next statement. If the cost is more than $200, or if there is a question of what should be done, the property manager will call you for direction.

Do you offer discounts?

For clients with more then 15 homes managed by us you will be given a 15% discount.

Do you require deposit reserves at the onset of our agreement?

Each situation is assessed on a case-by-case basis. Under normal circumstances we do not require reserves to be deposited at the onset of a property management agreement, but may if your property requires extensive make-ready repairs. Once we start to collect rent we try to maintain a reserve of $500 per property.

Who will I be dealing with regarding the management of my property?

Each property is assigned an asset manager based on location; this asset manager will serve as your primary contact point for all issues concerning your property.

If I decided to sell my property, can you help?

Of course, Palm Beach Managers has a licensed real estate agent on our team that can market your property for sale.

What happens if the tenant leaves before the end of the lease?

The tenant is responsible for the rent for the term of the lease. If they are forced to or choose to leave prior to the termination date, they will be charged for the rent until the property is re-rented to acceptable persons under the same terms and conditions of the original lease. The owner is responsible for attempting to re-rent the property as soon as possible in order to minimize the tenant’s costs.

My property manager has suggested that I paint, replace a few rooms of carpet, and have the house power washed before placing it on the rental market. I’m not selling—why should I go to all this trouble and expense for tenants?

A well-maintained property attracts better tenants, leases in a shorter time, and generally brings higher rents. Well-qualified tenants realize they are sought after and shop homes that are in good condition and offer the best value for their rent dollars. The money you “save” by not having the property in top condition will be spent on longer vacancies and the problems associated with attracting lesser qualified tenants.

When can I expect my monthly check?

Monthly accounting statements are sent, and payments are initiated on the 20th of each month. Payments are initiated through a payment system, and depending on your location, your direct deposit should be received within 5 days from payment initiation.

What happens if my tenant is evicted for non-payment, do I have to pay another commission when a new tenant is located?

No, if we place a defaulting tenant in your property, we locate a new tenant, with no additional commission charge. This is our guarantee to you to locate qualified, paying tenants.

What if I already have a tenant in my property?

We would then only take over the complete management of the property for the monthly service fee of 8% of monthly rent per month.

If I decided to purchase more rental properties, can you help?

Of course. Allow one our investment specialists to assist you in locating, purchasing, financing, and insuring a new property.

When do you need a rental license?

No Rental license is required on Florida.