Frequently Asked Questions

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General Services

What services does Prime Property Management offer?

We provide comprehensive property management services designed to maximize your investment and minimize your stress:

  • Tenant Screening & Placement: Thorough background checks and rental verification
  • Rent Collection: Secure online payment processing and enforcement
  • Property Maintenance: 24/7 maintenance coordination and repairs
  • Financial Reporting: Detailed monthly statements and tax documentation
  • Lease Management: Professional lease preparation and renewals
  • Property Inspections: Regular property condition assessments
  • Legal Compliance: Ensuring adherence to all local and federal regulations
What are your property management fees?

Our management fees are competitive and transparent, typically ranging from 8-10% of monthly rent collected, depending on several factors:

  • Property type and size
  • Number of units (discounts available for multiple properties)
  • Services required
  • Property location

We also offer customized packages for portfolio owners. There are no hidden fees, and we provide a detailed breakdown of all costs during our initial consultation. Contact us today for a personalized quote tailored to your specific property needs.

What is the contract term and can I cancel?

We typically offer one-year management agreements that automatically renew for your convenience. However, we understand that circumstances change, which is why we provide flexible cancellation terms.

Either party may terminate the agreement with 30-60 days written notice (specific terms outlined in your contract). There are no early termination penalties if proper notice is given. We believe in earning your business through excellent service, not binding contracts.

Tenant & Rental Process

How do you screen potential tenants?

We employ a rigorous, comprehensive screening process to protect your investment and ensure quality tenants:

  • Credit Check: Review of credit history and score
  • Employment Verification: Confirmation of current employment and income (minimum 3x monthly rent)
  • Rental History: Contact with previous landlords to verify payment history and tenancy conduct
  • Criminal Background Check: Comprehensive national and local criminal records search
  • Eviction History: Search of eviction records
  • Identity Verification: Government-issued ID confirmation

All screening is conducted in compliance with Fair Housing laws and regulations.

How is rent collected and when do I receive payment?

We've streamlined the rent collection process for maximum efficiency:

Tenant Payment: Rent is due on the 1st of each month. Tenants can pay conveniently through our secure online portal via ACH transfer, debit card, or credit card. We also offer autopay options for tenant convenience.

Owner Distribution: After deducting management fees and any approved expenses, owner payments are typically disbursed by the 10th of each month via direct deposit to your bank account. You'll receive a detailed financial statement showing all income and expenses.

Late fees are automatically applied according to lease terms, and we handle all collection enforcement.

What lease terms do you offer?

We typically recommend 12-month lease agreements as they provide stability for both owners and tenants. However, we're flexible and can accommodate:

  • Short-term leases (3-6 months) at premium rates
  • Standard 12-month leases (most common)
  • Longer-term leases (18-24 months) with incentives
  • Month-to-month agreements in specific circumstances

All our lease agreements are professionally drafted, legally compliant, and designed to protect your interests while maintaining fair tenant relationships.

Maintenance & Repairs

Who handles maintenance and repair requests?

We manage all aspects of property maintenance through our comprehensive system:

24/7 Request Portal: Tenants submit requests through our online portal or emergency hotline, ensuring all issues are documented and tracked.

Vendor Network: We maintain relationships with licensed, insured contractors who provide quality work at competitive rates. All vendors are thoroughly vetted.

Authorization Process:

  • Routine repairs under $500: Handled immediately with your pre-approval
  • Major repairs over $500: We obtain multiple quotes and your approval before proceeding
  • Emergency repairs: Addressed immediately to prevent property damage, with notification to you

You'll receive detailed reports and invoices for all maintenance work performed.

How often do you inspect the property?

Regular inspections are crucial for protecting your investment:

  • Move-In Inspection: Comprehensive documentation with photos before tenant occupancy
  • Routine Inspections: Quarterly or semi-annual interior inspections (with proper notice to tenants)
  • Drive-By Inspections: Monthly exterior checks for obvious issues
  • Move-Out Inspection: Detailed assessment to document any damages beyond normal wear and tear
  • Annual Review: Comprehensive property condition report

You'll receive detailed inspection reports with photos and recommendations for any necessary repairs or improvements.

Financial & Legal

What happens if a tenant doesn't pay rent?

We have a strict, proven rent collection policy to protect your income:

Day 1-3: Automated payment reminders are sent to the tenant.

Day 4-5: Late fees are automatically applied per lease terms. Personal contact is initiated.

Day 6-10: Formal late rent notice is delivered. We work with the tenant to arrange payment.

Day 11+: If payment isn't received and no acceptable payment arrangement is made, we begin the legal eviction process in compliance with local laws.

You're kept informed at every step, and we handle all legal proceedings, documentation, and court appearances on your behalf. Our goal is to minimize vacancy and recover owed rent as quickly as possible.

What financial reporting do you provide?

We provide comprehensive, transparent financial reporting:

  • Monthly Statements: Detailed breakdown of all income and expenses
  • Online Access: 24/7 access to your owner portal with real-time financial data
  • Year-End Tax Documents: 1099 forms and annual financial summaries for tax preparation
  • Custom Reports: Available upon request for specific needs

All funds are held in trust accounts separate from our operating accounts, ensuring complete transparency and security.

Still Have Questions?

Our team is here to help! Contact us for personalized answers to your property management questions.

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