Frequently Asked Questions

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FAQ

How soon can you start managing my home?

We can start the process immediately. We will start by obtaining some information about you and your property and helping you decide if we are a good fit for your needs. Contact us online or call Miranda Ard at 850-702-9100. You can also speak with Head Property Manager,  Ashley Bridges, during business hours.


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Are you a licensed Property Manager?

Miranda Ard, Broker/Property Manager, is a licensed Broker in Florida and a member of the Tallahassee Board of Realtors, National Association of Realtors and Florida Realtors. Ashley Bridges, is also a licensed Real Estate Sales Associate and member of the Tallahassee Board of Realtors. Core encourages all employees to earn the sale associate license.


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How informed will I be about what happens with my property?

Absent any special considerations unique to you or your property, our rule of thumb is: If something may cause a potential interruption in your ordinary cash flow (loss of tenant or non-emergency repair in excess of $250), we will let you know about it right away. Other than that, the saying “no news is good news” is most appropriate. Non-emergency items will be communicated along with your monthly statements and, of course, we encourage you to contact the property manager anytime you have a question or wish to discuss something.

We do encourage our owner to communicate with us as much as needed. We like to keep our owners informed of the status of their property and its condition.


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Who will hold the security deposit?

Security Deposits are kept in a non-interest bearing escrow account with other deposits and are only disbursed after a detailed walk through, and there are no outstanding balances on the account.


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Can you assist in locating a good investment if I have enough financing or funds to invest?

Yes. As a Licensed Real Estate Brokerage in Tallahassee, we can research the market to find the perfect investment opportunity for you. We will also help you throughout the transaction of purchasing the investment. Not only that, we can take it one step further and give a detailed work analysis of renovations needed and determine a plan to make your investment a turn key experience at a reasonable cost. However, we encourage a one-on-one meeting as needed for those types of jobs.


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How do you choose the right rental price?

Pricing your home correctly from the start is very important. You don’t want to give away profit or overprice the home so that it sits vacant for a long time. CORE will work with you to get the best rental price the market will support at the time we begin marketing. We will be happy to start a little higher than our suggested rent amount if requested, but please understand, we will be very candid when we quote a suggested rent amount. The overpricing of your property by some management companies is unfortunately done in order to obtain a signed management agreement. This initially will make an owner happy because it is what they want to hear. This often leads to the unhappiness of a long vacancy and one or more reductions in the asking rent before the property is finally rented. This will not give the owner the best return of their rental income.


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What, specifically, do you do to qualify a tenant after they have applied to rent my house?

This is the most important aspect of management for rental properties. The application process is typically done in-house… In general, we look at an applicant’s past behavior to determine their future behavior. An applicant must demonstrate a history of being a good, responsible tenant or homeowner as well as meeting credit standards and background checks.

  • LANDLORD REFERENCES – We personally talk to past landlords and ask detailed open ended questions about the applicant’s past performance.
  • CREDIT REPORT – We obtain a credit report which tells us the applicant’s current and past performance toward meeting their financial obligations. It also tells us their monthly debt, credit score, and shows their previous addresses (which we compare to addresses listed on the application). An applicant must meet established credit standards for most of the properties and income qualifications for all properties.
  • PROPERTY TAX SEARCH – If a private individual is listed as previous or current landlord, we will pull the tax records and verify that the person listed actually owns the property. The property tax record crosscheck, along with pulling driver license data, is what reveals most of the fraud attempts that we encounter and this is also a level of scrutiny that most other property management companies do not perform.
  • EMPLOYMENT/INCOME – We contact the employer to verify length of employment, status, and income. An applicant needs to earn at least 3 times the monthly rent in gross income to qualify for rental and we require two most recent pay stubs.
  • PETS – We generally permit animals/pets into managed properties unless the owner has stipulations. 50% to 70% of renters have pets, and we charge a non-refundable pet fee in the amount of $350.00 per pet. However, you can opt to not allow pets in your rental property if you wish. You may also request a higher fee if you deem necessary.

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Is there anything that needs to be done to make my property rent ready?

The better the condition a property is in; the better quality tenant it will attract. A property that shows well rents faster and commands higher rent. We recommend that the interior be painted or at least touched up, that the window furnishings, floors, fixtures and appliances be cleaned professionally, and that any needed repairs be made. Once the property is put in good order, we require (through our rental agreement) that the property be maintained in good order so that future turnover costs to the owner are minimized.


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How do you handle maintenance requests?

  • Tenants may fax, come in to the office, submit a maintenance request via tenant web access or email their requests to us. After we receive a repair request, the property manager may contact the tenant and ask them questions which will help us determine the exact nature of the problem before sending a service technician.
  • We also make sure it is not something the tenant can fix themselves (ex: reset button on the disposal, tripped breaker) before your money is spent on a service call. After determining there is a legitimate problem, we will send the appropriate service vendor to do the repair.
  • We tell our tenants that we are able to handle most repair requests within 1 to 3 working days. Comfort items such as Air Conditioning, hot water, or heat/plumbing will receive highest priority and are usually attended to the same or next business day.
  • This will be communicated along with your monthly statement and, of course, we encourage you to contact the property manager anytime you have a question or wish to discuss something.

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If the property needs work, can I do it myself or through my own /referred contractor?

If you like to do your own repairs, we can send all repair requests directly to you. It will be up to you to schedule the work with the tenants, and maintenance will be expected to be completed in a timely manner.


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Are most repairs done with CORE Property Management or outside vendors?

Most handyman repairs are handled within our office team of licensed and insured tradespeople who can handle common repairs. Other highly skilled jobs like HVAC, roofing, waterproofing, and electrical work are handled with outside contractors.


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Do you handle major repairs and renovations?

Yes. We can handle major repairs and complete renovation projects on a turnkey basis. For this service, we will charge a fee equal to 10% of the total renovation cost as this service is out of the scope of the monthly management fee.


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What do you charge for Rent Court Process?

Each jurisdiction Rent Court process may differ for Tallahassee:

  1. Three Day Notice of Eviction via Process Server- $15.00
  2. Second step of Eviction with the Courts- $295.00
  3. Writ of Procession- $90.00
  4. Locksmith (if needed) $150.00 or more depending on locks and rekeying.
  5. Eviction Fee- $150.00 to management company, if processed by CORE. If process by the attorney the fees could range from $500-$600 for the service provided.

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What happens if a Rent Court case happens to go to a Rent Court Escrow trial?

Most of the time this should not happen but in the event this does take place, CORE will not be allowed to represent you in court. The courts are requiring the owners, or an attorney on the owners’ behalf, be present. We do have contacts that can represent you in court at an hourly rate if needed.


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Do I get charged for any legal fees or court filing fees?

Yes. You will be charged an eviction fee of $75.00 if we are to conduct the eviction service, but we also pass that along to the tenant for Court Filings. If we send to our preferred attorney we do not charge that fee.  Eventually tenants pay court filing charges which are passed on to your account or withheld from their deposits. If there is not enough in deposit, the tenant will be sent to collections for the fees incurred. In the event they are evicted, their deposit is transferred to your account which should satisfy your account balances.


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How do you handle the Issuing of Notices and Delinquencies?

When rents are past due, we will:

  • Place a courtesy call to tenants.
  • Mail and/or email Late Fee Notices.
  • Issue a Three Day Notice of Eviction served via process server.

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How and when do you send my rents?

Your rents are electronically deposited (ACH) or hard checks mailed between the 10th-15th of every month, provided rents are received. ACH and checks are usually available between the 15th – 25th of every month.


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Do you charge management fees in the event Tenants are delinquent in their rent payment?

No. Management fees are only charged when rents are received. It is our priority to make sure that rents are received in a timely manner from our tenants. With that being said, the monthly minimum fee will take place at this point if not rents are received.


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Will there be a management fee charged for vacant properties?

Yes. We have a monthly minimum management fee of $50.00


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What do Management Fees cover?

  • Maximizing the income of your property
  • Marketing & Advertising
  • Professional tenant screening
  • Landlord / Tenant Relations
  • Efficient Maintenance Service
  • Bookkeeping services, including monthly owner financial statements
  • Professional Eviction & Legal Services

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Are your property management fees negotiable?

No. We don’t try to compete against lower priced property management companies or Realtors who practice property management as a side business. Frankly, we know you can find a cheaper property management company in Tallahassee Area; we just don’t think price should be the determining factor in deciding which property manager you hire to manage your home.

The ultimate cost of using a property manager is determined by many things other than the fee charged. The efficiency and manner in which maintenance and tenant relationship problems are handled, and the attention to detail during the leasing process are two of many areas in which we excel. We feel that our set of services, our systems, and the experience and expertise we offer are good values at the fee structure we have established.

The only exception of the fees charged will be in relation to the amount of properties owned.


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What are your Management Fees?

We charge a monthly 10% management fee of any income taken in from the property between you and your tenant. We also have a monthly minimum of $50.0 is the unit is vacant at time of take over.


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What about Management Pricing?

Your home is a valuable asset. Seemingly low-priced services can often lead to poor results because there is not enough staffing at the management company to provide the level of service desired. That is not a problem at CORE Residential Property Management, LLC. We pride ourselves in maintaining the highest level of service to our clients.


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